Polyunsaturated fatty acids are compounds that have more than one unsaturated carbon bond. They are important fats which cannot be produced by the human body hence it is required to consume through food as it improves the overall metabolic process. They have beneficial effects on the cardiovascular system and also helps to enhance the cognitive functions.
Global intelligent pigging market was valued at US$ 5459.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 8.02% during the forecast period (2022 to 2030).
Drivers
Growing prevalence of cardiovascular disease along with the rising awareness regarding the PUFAs for treating chronic disease is primarily fueling the market growth. According to the U.S. Department of Health & Human Services, about 647,000 Americans die from heart disease each year that is 1 in every 4 deaths. Therefore, the growing prevalence of the cardiovascular disease is projected to foster the market growth of polyunsaturated fatty acids.
The COVID-19 pandemic has positively affected the global market. There have been reports of a huge increase in demand for omega fatty acids foods and dietary supplements to enhance health and immunity. The circulation of suggestions from doctors all over the globe to incorporate immunity-boosting dietary supplements in daily life is seen a disturbance in their supply chain mainly due to the transportation restrictions and exponentially spiked logistics product has impacted the manufacturing process of the products.
Moreover, initial lockdowns and their continuation have caused labor shortages across some manufacturing facilities. Product safety, product detail transparency, and hygiene concerns are anticipated to remain a prominent aspect material sourcing, product manufacturing and packaging, market players can improve their market value and prominence and increase their sales.
Figure 1. Global Polyunsaturated Fatty Acids Market Value Share (%), By Region, 2021
Market Restraints
Lack of awareness regarding the health benefits associated with consumption of PUFAs owing to a few marketing and promotional activities in rural areas is expected to hinder the market growth of polyunsaturated fatty acids. For instance, in February 2020, Wiley Companies a producer of AlaskOmega® omega-3 fish oil concentrates and natural fish oils announced that it has launched an MSC-certified omega-3 concentrate powder for use in food, beverage, and dietary supplement formulations.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 5459.00 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 8.02% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Companies covered: |
Koninklijke DSM N.V, BASF SE, Croda International PLC, Enzymotec Ltd., Omega Protein Corporation, Aker BioMarine AS, Polaris Nutritional Lipids, FMC Corporation , Cargill, Incorporated , GlaxoSmithKline plc. |
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Market Trends
Manufacturer are introducing products such as soft gels, oils, and capsules that contain docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) is a major trend in the market. For instance, in February 2020, Wiley Companies a producer of AlaskOmega omega-3 fish oil concentrates and natural fish oils announced that it launched an MSC-certified omega-3 concentrate powder for use in food, beverage, and dietary supplement formulations.
Increasing consumption of super-fortified food across developed countries is a major trend in the market. This trend is expected to foster the market growth of polyunsaturated fatty acids. The growing health wellness trend is leading to the rapid adoption of a healthy lifestyle among consumers which is also projected to augment the market growth. Moreover, a growing number of consumers participating in various sports and other physical activities is further expected to stimulate the market growth of polyunsaturated fatty acids over the foreseeable time period.
Figure 2. Global Polyunsaturated Fatty Acids (PUFAs) Market Value Share (%), By Application, 2021
On the basis of application in 2027, the dietary supplement segment has accounted the largest market share of 47.4% in terms of value, followed by infant formula and food & beverage segment respectively.
Recent Developments
In December 2020, VivoMega announced a partnership with Bioscope Viet Nam, aiming to target the Vietnamese market of omega-3 fatty acids.
Competitive Section
Major players operating in the global Polyunsaturated Fatty Acids (PUFAs) market include Koninklijke DSM N.V, BASF SE, Croda International PLC, Enzymotec Ltd., Omega Protein Corporation, Aker BioMarine AS, Polaris Nutritional Lipids, FMC Corporation, Cargill, Incorporated, GlaxoSmithKline plc.
Polyunsaturated fatty acids (PUFAs) have more than one carbon bond in the molecule. Omega-3 fatty acids and omega-3 fatty acids are polyunsaturated fatty acids. These fats are essential for improving the metabolic functions of the human body. They are widely used across pharmaceuticals, infant formula, food and beverages, dietary supplement, and animal food &feed.
Global polyunsaturated fatty acids (PUFAs) market is estimated to account for around US$ 5459.00 million in terms of value in the year 2021 and it predicted to grow at a CAGR of 8.02% during the forecast period (2022-2030)
Market Dynamics
Increasing use of PUFAs in place of saturated fat in dietary supplements and functional foods are expected to drive the market growth. Growing demand for omega-3 and omega-6 fatty acids among consumers is also supporting the market growth of polyunsaturated fatty acids. Moreover, the growing use of PUFAs in pharmaceutical and aquaculture industries is further expected to spur the market growth of the polyunsaturated fatty acids over the forecast timeframe.
Partnership and agreements among major players is a current trend in the market and this trend is expected to foster market growth. For instance, in February 2020, GC Rieber Oils (Kristiansund, Norway), a producer of marine-based omega-3 concentrates, has partnered with Barrington Nutritionals to distribute its VivoMega omega-3 fish oils to the United States and Mexico. Such partnerships and agreements are expected to spur the market growth over the forecast timeframe.
Key features of the study:
Detailed Segmentation:
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