February 28, 2024

Polyunsaturated Fatty Acids Market Is Driven By Rising Health Consciousness

PUFAs play an imperative role in maintaining overall well-being by reducing cholesterol levels, managing blood pressure, and improving heart health. They also help in cognitive development and show positive effects on inflammatory and autoimmune disorders. The two primary types of PUFAs available commercially are omega-3 and omega-6 fatty acids. Salmon, walnuts, flaxseeds, and chia seeds are some of the richest sources of omega-3 PUFAs.

The Global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 7.33 Bn 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 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. The key players are involved in intensive research and development activities to expand their product portfolios and gain a competitive advantage in the market.

The increasing health consciousness among consumers and growing awareness about the numerous health benefits of PUFAs have boosted the demand for PUFAs over the past few years. With rising disposable incomes, consumers are willing to spend more on healthier food and beverage products fortified with omega-3 and omega-6 fatty acids.

The global PUFAs market has immense growth potential, especially in developing regions. Leading manufacturers are expanding their international footprints to leverage the high growth opportunities in Asia Pacific, South America, and Middle East & African regions. Collaboration with local players helps them to enhance regional presence and distribution networks.

Market drivers
Changing lifestyle and dietary patterns resulting from busy schedules have increased the risks of chronic diseases. The rising incidence of cardiovascular disorders, obesity, diabetes etc. has raised the focus on consuming a balanced and healthy diet. This has augmented the demand for PUFAs significantly as they play a vital role in lowering health risks and maintaining overall wellness. The increasing health consciousness and awareness regarding the medical advantages of PUFAs remain the key market driver.

Impact of geopolitical situation on  Polyunsaturated Fatty Acids Market Size growth
The current geopolitical tensions due to the ongoing Russia-Ukraine war is expected to hamper the growth of the global polyunsaturated fatty acids market. Ukraine and Russia are among the leading producers and exporters of sunflower oil in the world market. Due to the war, exports from the Black Sea region have been disrupted sharply. This has led to a massive supply crunch and a significant rise in prices of sunflower oil and other edible oils globally. Since sunflower and soybean oils are the major sources of omega-6 and omega-3 fatty acids, the reduced availability is impacting the polyunsaturated fatty acids market.
To mitigate the effect of geopolitical uncertainties, key players in the polyunsaturated fatty acids market need to develop alternative sourcing strategies and diversify their supplier base. Companies should look at boosting domestic production through capacity expansion and improving cultivation yields. Partnerships with other major edible oil producing countries can help ease raw material shortages. Additionally, investments in R&D for developing alternative sources of polyunsaturated fatty acids through algal fermentation or genetic engineering methods will make the market less dependent on global commodity price fluctuations.

Geographical regions concentrated in Polyunsaturated Fatty Acids market

Currently, North America accounts for the largest share of the global polyunsaturated fatty acids market in terms of value. This is mainly due to the rising health consciousness and increasing consumption of dietary supplements and functional foods in the US and Canada. The presence of major PUFA producers and strong distribution channels further aids market growth. Europe is another prominent regional market Supported by favorable regulatory environment and growing demand for nutritional and pharma-grade oils. Asia Pacific is projected to become the fastest growing region from 2024 to 2030 due to rapid economic development, rising living standards, and expanding food processing industry in China, India, Japan and other developing nations.

Fastest growing region for Polyunsaturated Fatty Acids market

Asia Pacific region is poised to witness the highest growth in the polyunsaturated fatty acids market during the forecast period. This can be attributed to the growing health awareness, expanding middle-class population with higher disposable incomes, and increasing adoption of Western dietary habits in the region. Moreover, Asia Pacific presents immense business opportunities owing to a large consumer base, rapid urbanization, and rising investments by international brands looking to leverage the growth prospects. The food processing industry in India and Southeast Asian countries is anticipated to drive the demand for value-added PUFA products. Supportive governmental initiatives and ease of availability will further aid the regional market expansion.

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