POLYUNSATURATED FATTY ACIDS MARKET ANALYSIS

The global  Polyunsaturated Fatty Acids Market is projected to reach around US$ 10.92 Billions by the end of 2030, in terms of revenue, growing at a CAGR of 8.2% during the forecast period (2023-2030).

Global Polyunsaturated Fatty Acids Market- Impact of Coronavirus (Covid-19) Pandemic

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 rotation of suggestions from croakers each over the globe to incorporate impunity- boosting salutary supplements in diurnal life is seen as a disturbance in their force chain substantially due to the transportation restrictions and exponentially spiked logistics products that have impacted the manufacturing process of the products.

 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 prominent aspects of material sourcing, product manufacturing, and packaging, market players can improve their market value and prominence and increase their sales.

Global Polyunsaturated Fatty Acids Market: Growth Drivers

Growing prevalence of cardiovascular disease

Growing prevalence of cardiovascular disease along with the rising awareness regarding the PUFAs for treating chronic disease is primarily fueling the market growth. Therefore, the growing prevalence of cardiovascular disease is projected to foster the market growth of polyunsaturated fatty acids

For instance, in May 2023 according to the U.S. Department of Health & Human Services, about 647,000 Americans die from heart disease each year which is 1 in every 4 deaths.

Global Polyunsaturated Fatty Acids   Market: Restraints

Lack of awareness regarding the health benefits

Lack of awareness regarding the health benefits associated with the 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.

Market Opportunity-

Rising demand for omega-3 is reinforcing the market growth of the global polyunsaturated fatty acids (PUFAs) market and is expected to exhibit lucrative growth over the forecast period. Omega-3, Polyunsaturated Fatty Acid Market is growing at a modest rate due to massive omega-3 consumption worldwide in dietary supplements and pharmaceuticals. Omega-3 Fatty acids cannot be synthesized by the human body and are considered essential for enhancing metabolic activities such as cognitive and cardiovascular functions. As a result, omega-3 adoption is increasing due to increased awareness and easy market availability of omega-3 fatty acids. Global growth in lifestyle-oriented diseases such as rheumatic arthritis, Parkinson's disease and other lingering diseases are boosting the global, Polyunsaturated Fatty Acid Market omega-3 market.

Market Trends-

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.

Global Polyunsaturated Fatty Acid Market: Recent Developments

• In November 2021, Aker Bio Marine ASA partnered with Gambol Pet Food Group of China to expand its business in the Chinese pet food market, followed by more hiring in China. Aker Bio Marine is a Norwegian fishing and biotech company providing krill products through a fully documented and secured catch and process chain. Based in Oslo, Aker Bio Marine is part of the Aker Group and the company also created Eco-Harvesting.
• In 2021, Sales in North America grew 35 percent versus the fourth quarter of 2021. The U.S. business delivered strong volume and pricing, especially selective herbicides for soybeans and other crops as well as fungicides for corn.

Global Polyunsaturated Fatty Acid Market: Market Segmentation

Figure 1. Polyunsaturated Fatty Acid Market (%) in terms of Value, By Region, in 2022

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North America region dominated the global  Polyunsaturated Fatty Acid Market in 2022, accounting for a 48% share in terms of value, followed by Europe and Asia Pacific, respectively.

Global Polyunsaturated Fatty Acid Market: By Application

On the basis of application in 2022, the Dietary Supplements segment has accounted for the largest market share of 48% in terms of value

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Global Polyunsaturated Fatty Acid Market: Key Companies

Key Companies are Koninklijke DSM N.V, BASF SE, Croda International PLC, Enzymotec Ltd., Omega Protein Corporation, Aker BioMarine AS, Polaris Nutritional Lipids, FMC Corporation, and Cargill, Incorporated, GlaxoSmithKline plc

*Definition: Polyunsaturated fatty acids are compounds that have more than one unsaturated carbon bond. They are important fats that 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 help to enhance cognitive functions.