NEW YORK , Dec. 13, 2023 /PRNewswire/ — The fatty acid market size is expected to grow by USD 8.30 billion from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 5.52% during the forecast period, according to Technavio. Increasing focus on health and wellness is notably driving the fatty acid market. However, factors such as the volatility in raw material prices used for producing fatty acids may impede market growth. The market is segmented by Formulation (Oil, Powder, and Capsule), Type (Unsaturated and Saturated), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the fatty acid market, including AAK AB, Aker BioMarine ASA, Arizona Algae Products LLC, Ashland Inc., AVRIL SCA, BASF SE, Cargill Inc., Colgate Palmolive Co., Croda International Plc, Dow Chemical Co., Eastman Chemical Co., Godrej Industries Ltd., Koninklijke DSM NV, Nikunj Chemicals, S.R. Chemical, Shiv Shakti Group, The Procter and Gamble Co., Tokyo Chemical Industry Co. Ltd., Vantage Specialty Chemicals, and Zhengzhou Meiya Chemical Products Co. Ltd. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.
Technavio has announced its latest market research report titled Global Fatty Acid Market 2024-2028
The growing emphasis on health and wellness is a significant driver in the fatty acid market. Unsaturated fats, particularly Omega-3 and Omega-6 fatty acids found in soybeans and rapeseed oil, are gaining popularity in the food industry. Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) in nutraceuticals and dietary supplements contribute to improved self-care and nutrition. With a focus on weight loss and a healthy diet, the market witnesses increased demand for polyunsaturated fatty acids. In Asia, the competition in the food industry is driving innovations, incorporating these essential nutrients into sports drinks and health-promoting products. The market’s growth aligns with a global shift toward mindful consumption and a balanced lifestyle.
Fatty Acid Market 2024-2028: Company Analysis
AAK AB – The company offers fatty acids such as oleochemicals, formed through the splitting of vegetable oils into fatty acids and glycerin.
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The market for unsaturated fats, including soybean-derived products, faces challenges amid volatility in raw material prices. Eicosapentaenoic acid and docosahexaenoic acid, crucial omega-3 fatty acids, contribute to nutrition and are found in rapeseed oil. Competition in the food industry, influenced by factors like weight loss and dietary supplements, shapes the demand for polyunsaturated fatty acids. Economic growth, influenced by mergers and acquisitions, impacts the nutraceutical sector. Despite challenges, the demand for healthy fats remains high, driven by self-care trends, dietary supplements, and sports drinks. Asia, with its burgeoning economy, plays a pivotal role in determining the industry’s future amid economic uncertainties.
Fatty Acid Market 2024-2028: Segmentation
Formulation
The oil segment is significant during the forecast period. The products in this segment are liquid formulations that encompass a wide spectrum of fatty acids, each with its own distinct properties and applications across industries. Such oils can be derived from both plant and animal sources, offering versatility and utility in various contexts.
In the thriving market economy, the soybean and rapeseed oil industries are pivotal players in the fat sector. Unsaturated fats, particularly omega-3 and polyunsaturated fatty acids like eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), dominate the nutrition landscape. As determinants of health gain prominence, nutraceuticals and dietary supplements witness high demand. Amid economic growth and competition, mergers and acquisitions reshape the supply chain. In Asia, dietary habits impact weight loss trends, driving a surge in demand for functional foods and sports drinks. The oil segment remains central, reflecting consumer preferences for healthier options, influencing the market’s trajectory. Amidst these dynamics, self-care, biochemistry, and health promotion intertwine, shaping a holistic approach to well-being.
Type (Unsaturated and Saturated).
Geography
APAC will contribute 37% to the growth of the global market during the forecast period. The regional market is driven by the food, pharmaceutical, cosmetics, and personal care industries. In 2023, the US and Canada are the major contributing countries in terms of revenue to the growth of the regional fatty acid market. The anti-aging pharmaceuticals and cosmetic products segment is witnessing strong demand from individuals aged between 30 and 50 years in the region. This is dominated by developed countries such as the US with high per capita income and strong spending power.
In the thriving APAC market, the demand for healthier products is reshaping industries. Unsaturated fats like Omega-3 fatty acids, found in soybean and rapeseed oil, are gaining prominence in the food and nutraceutical sectors. As consumers prioritize self-care and nutrition, dietary supplements containing Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) are on the rise, contributing to weight loss and overall well-being. The competition within the food industry is fierce, with a focus on healthier alternatives such as sports drinks and moisturizers. Amid the COVID-19 pandemic, health promotion and research into fat’s role in immunity have become paramount, driving innovation and market growth in the Asia-Pacific region.
Europe, South America, and Middle East and Africa.
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Fatty Acid Market 2024-2028: Key Highlights
Historic Market Size 2018-2022
CAGR of the market during 2024-2028
Detailed information on factors that will assist fatty acid market growth during the next five years
Estimation of the fatty acid market growth size and its contribution to the parent market
Forecasts on upcoming trends and changes in consumer behavior
The growth of the fatty acid market
Analysis of the competitive landscape and detailed information on companies
Comprehensive details of factors that will impede the growth of fatty acid market companies
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Fatty Acid Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.52% |
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Market growth 2024-2028 |
USD 8.30 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.18 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 37% |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Formulation
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio