Increase in popularity of healthy lifestyle has benefitted the fatty acid supplements industry, and the analysts at Persistence Market Research have scrutinized the market to assess the growth and forecasts for the near future. In this recently updated fatty acid supplements industry survey, the market is valued at US$ 5 Bn, and is expected to increase 3.4X by the end of the decade.
The market is predicted to exhibit an astronomical CAGR of 13% over the next ten years. The North American market is expected to hold dominion over 26% of the global market share.
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Key Points Covered in Fatty Acid Supplements Market Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 impact on sales of fatty acid supplements and how to navigate
- Recommendation on key winning strategies
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Research to Solidify the Applications of Fatty Acid Supplements
Awareness among the general population about the health benefits of consumables has increased as education through various platforms has risen.
The importance of fatty acids in human nutrition has always been a topic of great interest, since there are many of these essential acids that our body isn’t capable of producing by itself, and not many general foods contain them either. To get these one must follow a proper diet and nutrition-centric meal plan.
Fatty acids play a vital role in cardiovascular as well as cognitive function development, and research on the same has also increased substantially. A new study recently suggested that there may be a possible link between consumption of omega-3 fatty acids and polycystic ovary syndrome (PCOS) in women.
The aetiology of the disease isn’t clear but there may be a possible link between the consumption of certain fatty acids and its pathogenesis. The results are mixed and nothing can be conclusive about the impact of omega-3 fatty acids on the disease. Certain benefits such as anti-obesity effects have also been observed. As research advances, there will be more information on how fatty acids affect human biology.
Supplementation of fatty acid tablets has increased as their health benefits are being realized. From mental health to cognitive function enhancements, fatty acids are being used in many treatments, and demand for them is expected to see some major changes as research solidifies over the coming years.
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Fatty acids impart a wide range of medicinal benefits. However, consumers worldwide were less aware of the health benefits of omega-3 fatty acids. The dietary supplements industry is thriving rapidly and one of the fastest growing sectors of it, is fatty acid supplements.
The global fatty acid supplements market registered revenue worth US$ 5 Bn in 2021, which is expected to rise up to US$ 17.4 Bn by the end of 2031. The market is set to expand at a robust CAGR of 13% over the forecast period of 2021-2031.
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Key Market Dynamics
The acidic contents of omega-3 fatty acids play a key role in regular metabolic activities, in addition to regulating the level of cholesterol in a body. Increasing awareness about the benefits of a healthy lifestyle and growing consumer preference for healthier diet regimen will remain the primary driver to the growth of the global market for fatty acid supplements.
The past few years have seen the applications of omega series fatty acids in the treatment of hair, heart, and eyes. Researchers are constantly discovering more new applications, which is likely to provide an impetus to the market during the forecast period. The technological advancement has resulted in increased consumption by the processed food industry.
Growing need for the regulation of oxidation in omega-3, omega-6, and omega-9 fatty acids in order to maintain the original smell, taste, and quality of food products, will also fuel the market through to 2021. The geriatric population is growing worldwide, especially in developing countries, which is expected to foster the demand for fatty acid supplements.
Infant formula is a growing trend in the market, propelling the demand for omega-3 fatty acids. Manufacturers have already started to capitalize on this trend, which is predicted to remain a fast growing trend over the next few years.
Moreover, the market has been witnessing a new trend of the development of functional beverages containing omega-3 fatty acids. This further highlights a major opportunity that lies in the market over 2021-2031.
However, developing markets still face the issue of lower awareness about the health benefits of omega-3 fatty acids. This may hamper the market condition throughout the forecast period. Moreover, a large population in emerging economies does not prefer to spend on dietary supplements.
This is identified to be another factor that may hold a major negative influence on the market growth. The situation is however changing since the past few years.
The fatty acids supplements market is bifurcated on the basis of source into marine oils, algal oils, and others such as flaxseed oils, and by application into dietary supplements, functional food and beverages, and others such as infant formula and pharmaceuticals.
Based on the source of fatty acids, the marine oils segment is expected to maintain a dominating segment expanding at a stellar CAGR during 2021-2031. Based on application, the dietary supplements segments will be the largest of all, attributed to growing consumer awareness level and rising adoption rate of dietary supplements.
- Marine Oils
- Algal Oil
- Others (including Flaxseed)
- Dietary Supplements
- Functional Food and Beverages
- Others (including Pharmaceuticals and Infant Formula)
- North America
- Asia Pacific
By geographical analysis, the global fatty acid supplements market is segmented into four key regions viz. North America, Europe, Asia Pacific, and rest of the world. North America represents the largest market share of 26% and is expected to continue its dominance over the coming years.
Europe is also a major market, and the growth in this region is attributed to rising awareness among consumers about the benefits of omega-3 fatty acids.
Asia Pacific is the emerging, yet fastest growing market for fatty acid supplements, especially omega-3. Being one of the vital ingredients in infant formula, omega-3 is expected to gain traction in the regions with the highest birth rates i.e. India and China.
Key Market Players
The global fatty acid supplements market is highly consolidated. Koninklijke DSM N.V, Croda Health Care, Copeinca AS., Omega Protein Corporation, Axellus AS. are some of the major names in the industry. Other notable players include Arista Industries and Dean Foods.
Most of the leading players are concentrating more on developing markets with the highest potential.
FAQs Answered in Market Study
- Globally, what aspects are predicted to guide demand for fatty acid supplements?
Rising awareness of the benefits of a healthy lifestyle and growing consumer preference for healthier diet regimens are key factors expected to majorly influence industry growth.
- In terms of demand, which nations are leading the fatty acid supplements market?
The U.S, U.K., Italy, China, and Japan are the most demand-intensive nations for fatty acid supplements.
- What are the metrics predicted for the global fatty acid supplements market?
The study suggests the market to progress at a phenomenal CAGR of 13% over the next ten years and secure a valuation of US$ 17.4 Bn by 2031.
- How does the outlook for fatty acid supplements in Germany look like?
The fatty acid supplements industry in Germany is expected to surge at a healthy CAGR of 9% and account for the largest market share in the European region.
- At what pace did the market develop over the past five years?
The fatty acid supplements market evolved at a stellar CAGR of 12.2% over the past 5 years.
- Which players are leading suppliers of fatty acid supplements?
Koninklijke DSM N.V, Croda Health Care, Copeinca AS., Omega Protein Corporation, and Axellus AS. are prime players dominating the marketplace.
- What are the fatty acid supplements market specifics for 2021?
Revenue in 2021, for fatty acid supplements, amount to an estimated worth of US$ 5 Bn.
- What market share does North America hold?
The North American fatty acid supplements industry accounts for 26% of the global market share.
- Which trends are universal in the fatty acid supplements landscape?
Growing geriatric population across the globe is a major trend anticipated to be universal in the fatty acid supplements marketplace.
- What are the statistics in terms of absolute dollar opportunity?
The study suggests that the fatty acid supplements market will offer an incremental opportunity worth US$ 12.4 Bn by the end of the decade.