Global Polyunsaturated Fatty Acids Market Is Estimated To Be Valued At US$ 5.89 Bn In 2023

Purvaja Jadhao

posted on 10 months ago — updated on 2 seconds ago

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The global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 5.89 Bn in 2022 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Global Polyunsaturated Fatty Acids Market Is Estimated To Be Valued At US$ 5.89 Bn In 2023

Market Overview:
Polyunsaturated fatty acids are essential fatty acids that human body requires but does not produce on its own. These fatty acids help in lowering cholesterol levels, reducing blood pressure, managing weight, and reducing inflammation in the body. There are two major types of polyunsaturated fatty acids i.e. omega-3 and omega-6. Foods rich in omega-3 and omega-6 fatty acids include flaxseeds, chia seeds, walnuts, fatty fish etc. Increasing consumer awareness regarding health benefits of consuming adequate polyunsaturated fats is driving the growth of this market.

Market key trends:
Growing demand for fortified and functional food and beverages-: There is a rise in demand for functional and fortified food products over the past few years. Food manufacturers are focusing on fortifying various food products with polyunsaturated fatty acids to cater to this demand. For instance, companies offer milk, yogurt, cereal, flour etc. fortified with omega-3 fatty acids. This trend is expected to continue during the forecast period thereby propelling the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the Polyunsaturated Fatty Acids market requires high capital investment for R&D and production. Well established brands have economies of scale.
Bargaining power of buyers: The bargaining power of buyers is high given the availability of substitutes. Buyers can easily shift to alternative sources to meet their requirements.
Bargaining power of suppliers: A few major companies dominate the raw material supply chain giving them significant influence on price and availability of raw materials.
Threat of new substitutes: New substitute products constantly enter the market posing a moderate threat. Manufacturers rely on innovation to cater niche segments.
Competitive rivalry: Intense competition exists among the key players to expand market share through product differentiation, price points and strategic mergers.

Key Takeaways
The global Polyunsaturated Fatty Acids market Demand is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing health awareness and demand for nutritional supplements.

Regional analysis: North America dominates the global Polyunsaturated Fatty Acids market followed by Europe and Asia Pacific. The Asia Pacific region is expected to witness fastest growth due increased disposable income, growing middle class and their focus on quality diet.

Key players operating in the Polyunsaturated Fatty Acids market are Koninklijke DSM N.V, BASF SE, Croda International PLC, Enzymotec Ltd., Omega Protein Corporation, Aker Bio Marine AS, Polaris Nutritional Lipids, FMC Corporation, Cargill, Incorporated, GlaxoSmithKline plc. Key players are focused on new product launches, partnerships and capacity expansion strategies to strengthen their market presence.