Polyunsaturated Fatty Acids market slated to Experience Surging Growth Due To Rapid Demand From Food & Pharmaceutical Industries
Polyunsaturated Fatty Acids Market |
Market Overview:
Polyunsaturated
fatty acids are lipids that play a vital role in blood clotting, cell growth
and as structural components in cell membranes. They help lower LDL or
"bad" cholesterol and raise HDL or "good" cholesterol
levels. PUFAs are required for normal growth and development. They cannot be
synthesized by the body and must be obtained from dietary sources. Foods
enriched with omega-3 and omega-6 fatty acids are seeing increasing demand.
Market key trends:
Rapid demand from the food & pharmaceutical industries is propelling
the Polyunsaturated
Fatty Acids market Demand. PUFAs find numerous applications in dietary supplements, functional
foods, beverages and infant formulas owing to their health benefits. Growing
health consciousness among consumers has increased the use of omega-3 and
omega-6 fortified food products. PUFAs help treat cardiovascular diseases,
arthritis, ADHD and other inflammation-related disorders when consumed as
supplements or enriching daily diets. Rising cases of lifestyle diseases along
with growing geriatric population susceptible to chronic conditions will
continue augmenting market revenue over the forecast period.
Porter’s Analysis
Threat of new entrants: New players find it difficult to enter this market as
large capital investments are required to build production facilities.
Additionally, established brands have strong brand recognition and supply chain
which create barriers.
Bargaining power of buyers: Buyers have moderate bargaining power as they can
choose from various producers. However, switching costs are low.
Bargaining power of suppliers: Few suppliers of raw materials like algae and
fish oils gives them strong bargaining power over buyers.
Threat of new substitutes: Substitutes like medium chain triglycerides pose
threat but PUFAs have distinct health benefits with no close substitutes.
Competitive rivalry: Intense as major players compete on factors like
innovation, quality and price.
SWOT Analysis
Strengths: Health benefits of PUFAs leading to increased demand. Strong R&D
funding by major players.
Weaknesses: Vulnerability to price fluctuations of raw materials. High capital
requirements.
Opportunities: Rising health consciousness. Growing use in infant formula and
functional food & beverages.
Threats: Stringent regulations. Threat from substitutes. Intense competition.
Key Takeaways
The global Polyunsaturated Fatty Acids market size is expected to reach US$
10.12 Bn by 2030, expanding at a CAGR of
8.2% during the forecast period. Increasing health awareness among
consumers regarding heart diseases, cardiovascular problems and other chronic
diseases is expected to drive the growth.
The Asia Pacific region is expected to dominate the market during the forecast
period. India and China are experiencing high growth in demand for PUFAs due to
rising incomes, urbanization and changing lifestyles.
Key players operating in the Polyunsaturated Fatty Acids market are 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. Players are focusing on innovation,
new product launches and mergers & acquisitions for market penetration.
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More:
https://www.marketwebjournal.com/global-polyunsaturated-fatty-acids-market-growth/
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