Polyunsaturated Fatty Acids Market and CAGR
Polyunsaturated fatty acids include two types of fatty acids namely omega-3 and omega-6. These acids are derived from different living organisms. These are essential acids for the human body and finds their application in various market sectors like food & beverages, pharmaceuticals, and others. Hence according to the research done by Transparency Market Research, the polyunsaturated fatty acids market is expected to record significant sales and growth in the market during the forecasted period of 2021-2031.
What are the Driving Forces for the Growth of Polyunsaturated Fatty Acids Market?
Omega-3 fatty acids and omega-6 fatty acids both have various benefits related to health. It enhances the metabolism and cognitive abilities of the human body. Due to the increase in awareness related to physical and mental wellness, the consumption and demand of polyunsaturated fatty acids in dietary supplements and functional foods have increased significantly and are driving the growth of this market.
The ease in availability of food like chia seeds, walnuts, soybean, corn, fish, and others which contain a higher quantity of polyunsaturated fatty acids in it are also benefitting the market directly. Rising awareness towards these kinds of foods due to the increasing health consciousness among consumers globally has been the driving force for this market.
The wider use of polyunsaturated fatty acids in various different applications of sectors like pharmaceuticals, foods & beverages, animal food & feed, and others is also growing the market. According to WHO, the number of deaths in the world is due to chronic diseases like diabetes, cardiovascular issues, and others are high which can be prevented by the proper intake of these omega acids. Hence the application of polyunsaturated fatty acids is high in pharmaceuticals.
The marine-derived polyunsaturated fatty acids have proven essential effects on the prevention of different kinds of cancer. Also, the growth in the fishery industry and the potential of marine-derived polyunsaturated fatty acids could seriously help in the growth of this market.
What are the effects of Pandemic on Polyunsaturated Fatty Acids Market?
The covid-19 effects on the polyunsaturated fatty acids market varied with end-use application and slightly on basis of region depending on the demand. The pandemic hit each and every sector of the market all around the globe and this market was also not that different from the rest. Due to the breakage of the supply chain among most industries, this market was also down. The least affected sector of this market was pharmaceutical and animal nutrition as these were considered essential and the production and sale of these products were continued. Hence the market was moderately affected due to the pandemic and showed signs of improvement in the latter part of the pandemic. The polyunsaturated fatty acids market is thus expected to recover quickly after the market will reopen.
US and Canada Polyunsaturated Fatty Acids Market
The polyunsaturated fatty acids market is pretty decent in the US and Canada. North America currently is one of the biggest consumers of these acids in Europe and Asia-Pacific. The U.S. is the biggest consumer in North America. The ease of presence of such foods involving polyunsaturated fatty acids is quite prevalent in the food & beverage industry of the US and Canada.
The use of walnuts in the bakery industry, corn, and fish in food processing is heavily prominent. Also, its application in pharmaceutical and nutraceuticals is increasing rapidly, and the use of pharmaceuticals and nutraceuticals for overall wellness is quite normal for North American consumers. The growing demand for these acids in these above-mentioned industries is specifically driving the growth of the polyunsaturated fatty acids market in the US and Canada.
The decent presence of prominent key manufacturers of products with end-use applications of polyunsaturated fatty acids in this region is going increase the growth of this market. Hence, the U.S. and Canada are expected to experience one of the highest CAGR globally compared to other countries.
Europe Demand Outlook for Polyunsaturated Fatty Acids Market
Europe currently holds the highest share of the polyunsaturated fatty acids market globally. The market is thriving at a good rate and the use of food having polyunsaturated fatty acids as an ingredient is very high. The marine life culture is quite common there, especially in Western Europe.
The production of fisheries has increased significantly in recent years and aquaculture growth too, leading to the consumption of these fatty acids in high numbers. Along with these, the sales of polyunsaturated fatty acids infused nutraceuticals have increased leading to a little boost in this market. Taking in the consideration of all these factors and consumer demand and the sale rate of these products, the European market is expected to grow at a decent pace.
Who are the Key Manufacturers and Suppliers of Polyunsaturated Fatty Acids?
Some of the leading manufacturers and suppliers of Polyunsaturated Fatty Acids include BASF SE, Croda International PLC, Omega Protein Corporation, FMC Corporation, Polaris Nutritional Lipids, Koninklijke DSM N.V., Cargill, Enzymotec Ltd., Omega Protein Corporation, Aker BioMarine AS, GlaxoSmithKline plc., Arizona Chemicals, Godrej Industries, Oleon, Akzo Nobel and few others.
By Raw Source
- Animal Based
- Fish Oil
- Krill Oil
- Algal and Fungus Oil
- Vegetable Based
- Nuts Based
- Pumpkin Seeds
By End-Use Application
- Dietary Supplements
- Food & Beverages
- Infant Formula
- Animal Feed
- North America
- US and Canada
- Latin America
- Middle East & Africa
- Saudi Arabia
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