Polyunsaturated fatty acids (PUFAs) are considered essential fatty acids required for normal growth and development. They cannot be synthesized by the human body and must be obtained through dietary sources. PUFAs offer several health benefits such as lowering the risk of heart diseases and lowering triglyceride levels. Growing awareness about these health advantages has led to a rise in demand for PUFAs. Fish oil, flaxseed oil, walnut oil are some of the common sources of omega-3 and omega-6 fatty acids. They are used in various food and beverage applications for their nutritional value. Fish oil is also utilized as a feed additive for aquaculture and livestock.

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 5.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the emerging trends in the polyunsaturated fatty acids market is the increasing application of algal oils. Algal biomass is considered as a sustainable source of omega-3 fatty acids like EPA and DHA owing to lower land and water requirements compared to traditional fish farms. Researchers are focused on genetically engineering algal strains to increase their oil productivity. Companies like DSM and Corbion are involved in commercial production of algal oils which are finding new uses in aquaculture, pharmaceuticals, and infant formula applications due to clean label and vegan positiong. This is expected to drive the market growth of polyunsaturated fatty acids going forward.

Porter’s Analysis

Threat of new entrants: The polyunsaturated fatty acids market requires high R&D investments and regulations which make it difficult for new players to enter.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute sources of PUFAs.

Bargaining power of suppliers: A small number of companies globally produce PUFAs giving them significant bargaining power over buyers.

Threat of new substitutes: New plant and algal sources of PUFAs pose minimal threat currently due to taste and production constraints.

Competitive rivalry: Major players compete on the basis of production technology and product differentiation leading to high competition.

Key Takeaways

The Global Polyunsaturated Fatty Acids Market Demand 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 5.3% over the forecast period 2023 to 2030.

Europe currently dominates the market due to high consumption of PUFA enriched functional foods and infant formulas in countries like Germany, U.K, and France. The Asia Pacific region is expected to be the fastest growing market led by nations such as China and India. Changing consumer preferences and rising health awareness is fueling the demand for PUFAs in the region.

Key players operating in the polyunsaturated fatty acids include Koninklijke DSM N.V, BASF SE, Croda International PLC, Enzymotec Ltd., Omega Protein Corporation, Aker Bio Marine AS, Polaris Nutritional Lipids, FMC Corporation, Cargill, Incorporated, GlaxoSmithKline plc. Major players are focusing on capacity expansion and new product launches involving algal and plant based PUFAs to cater to the growing demand.

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