The Pufa In Global Market size is estimated to reach $48.9 Billion by 2025, growing at a CAGR of 11.7% during the forecast period 2020-2025. Polyunsaturated fatty acids (PUFAs) are fatty acids that contain more than one double bond in their backbone. This class includes many important compounds, such as essential fatty acids and those that give drying oils their characteristic property. Growing prevalence of chronic diseases such as cardiovascular diseases, stroke, cancer and diabetes, and increasing preference towards PUFAs (mono & poly-unsaturated fats) are some of the factors driving the market growth during the forecast period 2020-2025.
Pufa In Global Market Segment Analysis – By Product Type
Based on Product Type, Pufa In Global Market is segmented into Omega-3 Fatty Acid, Omega-6 Fatty Acid. The Omega-3 Fatty Acid segment holds the largest share in terms of revenue in 2019. This is Owing to the rising application of omega-3 fatty acids in pharmaceutical and clinical nutrition to treat mental disorders such as Alzheimer’s and cardiovascular diseases and omega-3 PUFA ingredients. The Omega-6 Fatty acid segment is set to be the fastest-growing CAGR of 12.2% during the forecast period 2020-2025. This is owing to the rise in intake of omega-6 ingredients such as vegetable oils, including corn, evening primrose seed, safflower, and soybean oils and it is good for the heart. The omega-6 ingredients increasingly being used in a variety of dietary supplements, pharmaceuticals and animal feeds, functional foods and beverages. In the forecast period 2020-2025, Omega-6 fatty acids is estimated to use significantly to minimize the risk of heart attack, lower total cholesterol levels, and reduce the risk of cancer in patients.
Pufa In Global Market Segment Analysis – By Application Type
Based on Application Type, Pufa In Global Market is segmented into Dietary Supplement, Infant Formula, Pharmaceutical, and Animal Food and Feed & Others. The Dietary Supplement segment held the largest share in 2019. This is owing to the rising health concerns, the changing lifestyles and dietary habits, and an increase in the number of global sports events that encourage athletes to focus on physical strength demand for dietary supplements. However, the Pharmaceutical segment is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to the growing need for mental health supplements for infants. Developments in the food industry and Healthcare industry are anticipated to fuel the segment growth during the forecast period 2020-2025.
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Pufa In Global Market Segment Analysis – By Geography
Based on Geography, The Pufa in Global Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America region dominated the Pufa In Global Market in 2019 with a share of 34.8%. This is owing to the growing health consciousness among consumers and increasing awareness regarding the benefits of omega-3 and Omega-6 fatty acids in the region. However, Asia Pacific is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to the increasing middle-class population, disposable income, and increasing health awareness of the consumption of EPA and DHA ingredients in the Asia Pacific region.
Pufa In Global Market Drivers
Rising demand for omega-3
Omega-3 ingredients are polyunsaturated fatty acids these are essential fatty acids and their only source for humans and animals is from the diet. The Omega-3 PUFA ingredients are used to manufacture products that improve the cardiovascular and cognitive functioning of the human body on being consumed as a part of the diet in recommended amounts. However, the rising application of omega-3 fatty acids in pharmaceutical and clinical nutrition to treat mental disorders such as Alzheimer’s and cardiovascular diseases and omega-3 PUFA ingredients are the factors that drive the global polyunsaturated fatty acids (PUFAs) market.
Pufa In Global Market Challenges
Conventional omega-3 and omega-6 ingredient manufacturers are facing the prevalent challenges to offer the product with a competitive price range. This is more relevant for the companies that offer omega 3 ingredients from alternative sources, such as krill and algae oils. The companies are facing challenges to sell products at competitive prices relative to fish oil sourced naturally by DHA and EPA.
Pufa In Global Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Pufa In Global Market. Key companies of this market are BASF SE, Aker BioMarine AS, Cargill, Incorporated, Enzymotec Ltd, Polaris Nutritional Lipids, Omega Protein Corporation, Koninklijke DSM N.V., GlaxoSmithKline plc, FMC Corporation, Croda International PLC and among others.
Pufa In Global Market Developments:
In April 2018, Polaris to launch new Omega-3 product and concept at Vitafoods. Polaris, a leading international expert in the field of functional lipids, has taken the potential of algal Omega-3 to a new level by launching its Omegavie DHA 650 Qualitysilver5 (high concentrate & highly performing Omega-3 Algal oil).
Key Takeaways
Geographically, The North American region held the highest market share in 2019. This is owing to growing health consciousness among consumers and increasing awareness regarding the benefits of omega-3, and omega-6, are key factors driving the growth of the market in the region.
The factors such as increased demand from the nutrition industry for health supplements and the healthcare industry for mental health and development of infants lead to the growth of the market during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Pufa In Global Market
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