Global Market Study on Fatty Acid Supplements: Rising Demand for Infant Formula Aiding Market Acceleration
The global fatty acid supplements market is valued at US$ 5 Bn, and is expected to surge at an impressive CAGR of 13% over the next ten years, to reach an estimated value of US$ 17.4 Bn by 2031.
Increasing awareness among consumers about health, diet, and fitness has helped improve lifestyles greatly. In the recent years, consumers have become more conscious of their diet intake. Fatty acids such as omega-3 offer various health benefits.
Omega-3 fatty acids comprise of acidic contents such as eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) and alpha-linolenic acid (ALA). These acids are required for regular metabolic activities as the human body cannot synthesize these acids on its own.
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Omega-3 EPA/DHA content has the ability to reduce the level of unwanted cholesterol in the human body, thereby lowering the risk of coronary heart diseases and blood pressure disorders. Urban populations are more concerned about their lifestyle compared to rural populations.
The lifestyle of the urban population is fast paced. Fast-paced lifestyle along with an aspiration to stay fit attracts people to omega-3 fatty acids. According to the United Nations, the urban population is expected to increase from 3.4 billion in 2009 to 6.3 billion in 2050. With urbanization increasing worldwide, this trend is expected to continue for a long period.
Increasing health awareness and medicinal benefits of fatty acids are major growth drivers for the global fatty acid supplements market. In addition, increasing baby boomers population is expected to drive the global fatty acid supplements market.
North America is the largest market for fatty acid supplements globally. A major factor contributing to the growth of the omega-3 market in Europe is the increasing level of awareness about omega-3 fatty acids. Asia-Pacific is the fastest growing and emerging market for omega-3.
Countries such as India and China have high birth rates, which may boost the demand for omega-3 ingredients in infant formula.
The fatty acid supplements market is bifurcated into source (marine oils, algal oils, and others) by value (US$ Mn) and by volume (Mn tons), application (dietary supplements, functional food and beverages, and others) by value (US$ Mn) and by volume (Mn tons), and region (North America, Europe, Asia-Pacific, and rest of the world).
The global fatty acid supplements market is set to offer an absolute dollar opportunity of US$ 12.4 Bn by 2031. Among the regional markets, North America is dominating the global market and holds a market share of 26%.
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The global fatty acid supplements market has prime players such as Koninklijke DSM N.V, Croda Health Care, Copeinca AS., Omega Protein Corporation, and Axellus AS.
- Marine Oil
- Algal Oil
- Others (including flaxseed oil)
- Dietary Supplements
- Functional Food and Beverages
- Others (including pharmaceuticals and infant formula)
- North America
- Asia Pacific
- Rest of the World
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