by Polyunsaturated fatty acids (PUFAs) are fatty acids that have two or more double bonds in their structure. These include omega-3 and omega-6 fatty acids. PUFAs play an important role in a balanced diet and provide numerous health benefits such as reducing blood pressure and cholesterol levels, improving heart health, and reducing inflammation in the body. They are extensively used in food and beverages, pharmaceuticals, supplements and animal feed applications. Rising consumer awareness about the importance of nutritional balance in diet and growing demand for nutraceuticals and functional foods are projected to drive the global market.
The global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 6.36 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The global polyunsaturated fatty acids market is poised for substantial growth over the forecast period, driven by rising health awareness among consumers. As mentioned in the heading, increasing awareness about the health benefits of PUFAs is expected to be a key driver for market growth. Consumers are increasingly adopting preventive healthcare approaches and prefer food products containing nutritional additives that provide additional health benefits. This growing emphasis on disease prevention through diet modifications is fueling the demand for PUFA fortified foods and supplements. Another major driver is the increasing prevalence of lifestyle diseases such as cardiovascular disorders, diabetes and obesity globally. As obesity rates rise, more people are adopting strategies like consuming PUFA rich foods to manage chronic conditions and reduce disease risks. This growing consumer proclivity towards health and wellness products will continue boosting market revenues over the next few years.
Segment Analysis
The polyunsaturated fatty acids market can be segmented into omega-3 fatty acids and omega-6 fatty acids. Omega-3 fatty acids dominate the market and account for around 60% of revenue. This is due to rising awareness about health benefits of consuming omega-3 fatty acids, which are important for heart health, brain health and reducing inflammation. Docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) are the major types of omega-3 fatty acids.
PEST Analysis
Political: Regulations in several countries promoting usage of polyunsaturated fats in food products is driving market growth.
Economic: Rise in disposable incomes is increasing demand for premium health supplements containing PUFAs.
Social: Growing health consciousness is making consumers prefer food and supplements with PUFAs due to associated heart health benefits.
Technological: Advancements in extraction technologies is improving PUFA yields and reducing production costs.
Key Takeaways
The global Polyunsaturated Fatty Acids Market Growth is expected to witness high growth. The global polyunsaturated fatty acids market is estimated to be valued at US$ 6.36 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
North America dominates the global PUFA market due to strong demand from dietary supplement and functional food industries in the US and Canada. Europe is another major market driven by nutritional awareness.
Key players operating in the polyunsaturated fatty acids market 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. Increasing investments by these players to expand production capacities will further support market growth over the forecast period from 2023 to 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
