Global Polyunsaturated Fatty Acids market is estimated to account for around US$ 5.89 Billion in terms of value in the year 2022 and it is predicted to grow at a CAGR of 8.2% during the forecast period (2023-2030)
Driver
Increasing use of PUFAs in place of saturated fat
Global polyunsaturated fatty acid (PUFAs) market growth is being driven by an owing to the health benefits associated with omega 3 (PUFAs), as well as an increase in its use in the industrial sector. The market's growth will also be fuelled by ongoing research and advancements in omega 3 fatty acids that is pushing the global polyunsaturated fatty acid (PUFAs) market forward during the forecast period 2023-2030. Market Opportunities
Restraint
Lack of awareness regarding the health benefits
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.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/polyunsaturated-fatty-acids-market-3986
Key Takeaways:
- Fish oil is the main source of polyunsaturated fatty acids. The exploration of new sources to extract PUFAs has been aided by the recent evolution in market trends, such as the listed ingredients. For people eating vegetarian diets, two excellent sources of this fatty acid are flax seeds and algae oil. In the coming years, it is anticipated that the newly developed techniques and research will support the health claims made for PUFAs.
New product launches, mergers & acquisitions, strategic partnership expansion, and research & development activities for polyunsaturated fatty acid (PUFAs) are key strategies adopted by players in the global Polyunsaturated Fatty Acids Market
Market Trends
- Geographically, North America have the largest revenue share of 39% in 2020 owing to increasing health concerns in among the region.
- The global polyunsaturated fatty acid (PUFAs) market is expanding owing to emerging applications of Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) in food, dietary supplements, and clinical nutrition. The market's growth will also be fuelled by ongoing research and advancements in omega-3 fatty acids that is pushing the global polyunsaturated fatty acid (PUFAs) market forward during the forecast period 2021-2026
Competitive Section:
- Company Names
- Koninklijke DSM N.V.
- BASF SE,
- Croda International PLC,
- Enzymotec Ltd.,
- Omega Protein Corporation,
- Aker Bio Marine AS,
- Polaris Nutritional Lipids,
- FMC Corporation,
- Cargill, Incorporate,
- GlaxoSmithKline plc.
