February 25, 2024

Polyunsaturated Fatty Acids Market to grow at highest pace owing to the rising health and wellness trend

PUFAs help in lowering bad cholesterol, reducing inflammation, and enhancing brain and eye health. They are widely used in food & beverages, pharmaceuticals, cosmetics, and animal feed applications. Regular consumption of PUFAs through dietary sources like vegetable oils, fatty fish, nuts, and seeds aids in the prevention of cardiovascular diseases, cancer, arthritis, and other inflammatory conditions. With the increasing health awareness, consumers are adopting healthier diets rich in omega-3 and omega-6 fatty acids. This rising focus on nutrition and wellness is anticipated to stimulate the demand for polyunsaturated fatty acids over the forecast period.

Global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 7.33 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the polyunsaturated fatty acids are Advanced, Ariba, Inc. (SAP SE), Coupa Software Inc, GEP, Procurify, Sage Intacct, Inc. (The Sage Group PLC), Sievo, SutiSoft, Inc., TOUCHSTONE GROUP PLC, VA Tech Ventures Pvt Limited (Happay), and others. The rising health awareness among consumers has increased the demand for PUFAs. Food manufacturers are launching various PUFA-fortified products to cater to growing consumer demand. Technological advancements have enabled cost-effective extraction of PUFAs from plant and marine sources through new extraction methods like enzyme-assisted extraction.

Market Trends

The increasing vegan population is creating opportunities to develop plant-based sources of PUFAs. This is prompting companies to invest in research on vegetarian sources of omega-3 fatty acids like flaxseeds, chia seeds, and microalgae. There is also a rising demand for clean label and sustainably sourced PUFAs. Companies are focusing on adopting green extraction techniques and opting for sustainability certifications to gain consumer confidence.

Market Opportunities

The growth of the nutraceuticals industry driven by preventive healthcare trends will continue boosting the demand for PUFA dietary supplements. Personalized nutrition utilizing omega-3 fatty acid levels monitoring through diagnostic tests is another emerging opportunity. With the demand growing across different applications, companies can explore global geographical expansion and investing in advanced technologies to lower production costs.

Impact of COVID-19 on Polyunsaturated Fatty Acids Market Growth

The COVID-19 pandemic negatively impacted the  Polyunsaturated Fatty Acids Market Size growth in 2020. Factory shutdowns disrupted the supply chain, leading to raw material shortage. Transport restrictions affected logistics and delivery of finished products. The declining demand from food & beverage industry due to lockdowns and economic slowdown further diminished market revenues.

However, the market is recovering gradually post-COVID. Rising awareness about health benefits of PUFAs is driving product demand. As lifestyle-related diseases such as heart ailments increased during the pandemic, consumers are more inclined toward nutritional supplements. Manufacturers are enhancing production capacities and streamlining distribution channels to meet rebounding demand. The growing vegan population is another factor propelling market revenues as plant-based sources of PUFAs see higher adoption.

To sustain growth in the long run, market players must focus on innovations, introduce immunity-boosting formulations and foray into untapped regional markets. Precision nutrition and customized supplementation as per individual requirements can aid recovery. Collaboration with online retailers and direct-to-consumer models can overcome constraints in traditional distribution networks.

Geographical Regions with Highest Market Value

Europe accounts for the largest market value currently, owing to rising health awareness and increasing product adoption. Countries such as Germany, UK, France have high per capita consumption of PUFA-fortified foods and supplements. North America follows Europe due to surging vegan population and growing demand for plant-based omega-3 and omega-6 acids.

Fastest Growing Regional Market

The Asia Pacific market is forecast to witness the fastest growth during the period. Rising incomes, growing middle class and shifting dietary preferences towards healthier options are key demand drivers in populous nations such as India and China. Extended government support for preventive healthcare also stimulates market revenues. Awareness initiatives by industry associations and expansion of global players into emerging APAC countries will further boost the regional market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it