Global Fatty Acids Market Grows Significantly at a CAGR of 5.9%

Introduction

Fatty acids are crucial constituents predominantly obtained from lipids, such as fats and oils. Fatty acids are fundamental components of lipids and fulfill essential roles in several biological processes, notably serving as a principal energy substrate for the organism. Fatty acids are composed of elongated hydrocarbon chains that can exist in either a saturated state, devoid of any double bonds, or an unsaturated state, containing one or more double bonds. These entities' length and molecular configuration might vary depending on their structure and origin.

Market Dynamics

Increasing Demand in the Food and Beverage Industry Drives the Global Market

With the increasing global awareness of health among consumers, there is a growing recognition of the importance of these fatty acids in enhancing cardiovascular well-being, mitigating inflammatory responses, and bolstering cognitive capabilities. The food and beverage sector increasingly acknowledges this phenomenon, resulting in a notable increase in the availability of goods enriched with essential fatty acids.

Fatty acids are readily available in significant quantities within the inventory of health food stores and supermarkets, encompassing a range of products such as cooking oils, fortified foods, and health supplements. This ever-growing demand has undeniably catalyzed the expansion of the global fatty acids market.

Growth in the Nutraceutical Industry Promoting Fatty Acid Consumption Creates Tremendous Opportunities

The nutraceutical industry has experienced significant growth, serving as a link between the pharmaceutical and food sectors. The increasing inclination of consumers towards natural supplements for enhancing health and well-being has resulted in a substantial surge in demand for fatty acids, namely in the form of capsules or oils. The numerous potential benefits, such as promoting cardiovascular health and enhancing cognitive function, have contributed to their widespread popularity among consumers. The burgeoning nutraceutical industry has considerable opportunities for the fatty acids market, indicating a bright era of expansion and progress.

Regional Analysis

North America is the most significant global market shareholder and is anticipated to expand substantially during the forecast period. The prominent role of North America in the global fatty acids market indicates its significant impact and noteworthy contributions. The region's dominance is predicated upon the utilization of sophisticated agricultural methodologies, which yield a steady provision of essential raw materials required for the synthesis of fatty acids. The company's prominent market position is further strengthened by its cutting-edge research and development facilities, which continually foster advancements in fatty acid production.

Furthermore, the North American region encompasses a multitude of prominent industries, such as pharmaceuticals, cosmetics, food production, and nutraceuticals. The need for high-quality fatty acids in these industries is substantial, resulting in a large market requirement.

Key Highlights

• The global fatty acids market size was valued at USD 27.17 billion in 2022 and is projected to reach USD 42.97 billion by 2031, registering a CAGR of 5.9% during the forecast period (2023-2031).
• Based on source, the global fatty acids market is segmented into animal source, and plant source. The animal-based segment dominates the global market and is expected to grow substantially over the forecast period.
• Based on form, the global fatty acids market is fragmented into oil, capsules, syrup, powder, and others. The oil form segment is the highest contributor to the market and is expected to grow significantly over the forecast period.
• Based on category, the global fatty acids market can be bifurcated into saturated and unsaturated. The unsaturated-based segment owns the highest market share and is expected to grow substantially over the forecast period.
• Based on application, the global fatty acids market is fragmented into food and beverages, animal feed, pharmaceuticals and nutraceuticals, personal care, and others. The pharmaceuticals and nutraceuticals segment dominates the global market and is predicted to grow substantially over the forecast period.
• North America is the most significant global market shareholder and is anticipated to expand substantially during the forecast period.

Competitive Players

1. Wilmar International
2. Klk Oleo
3. IOI Corporation Berhad
4. Musim Mas
5. Oleon
6. Cargill
7. Kao Corporation
8. BASF
9. VVF
10. Emery Oleochemicals
11. Godrej Industries
12. Akzo Nobel
13. Felda Iffco
14. Catalyst Group
15. PTT Global Chemical

Recent Developments

• May 2024- MegaFood, a company that is accredited as a B Corporation and is a member of 1% for the Planet, has announced the release of Omega 3-6-9. This product is a plant-based complex that contains a distinctive combination of essential fatty acids, including 3-6-9, as well as 600 mg of Omega-3. It is designed to promote the health of the heart, brain, vision, and joints.
• July 2024- Datuk Chan Foong Hin, the Deputy Minister of Plantation and Commodities, officially inaugurated Kuala Lumpur Kepong Bhd's (KL:KLK) new high-purity fatty acids and glycerin plant in Zhangjiagang, Suzhou, situated in the Jiangsu province of China. This expansion has increased the facility's annual processing capacity to 500,000 tonnes.

Segmentation

1. By Source
   1. Plant Source
   2. Oil
   3. Syrup
   4. Powder
   5. Capsules
2. By Form
   1. Animal Source
   2. By Category
   3. Unsaturated
   4. Saturated
3. By Form
   1. Capsules
   2. Powder
   3. Others
   4. Syrup
   5. Oil
4. By Application
   1. Food & Beverage
   2. Personal Care & Cosmetics
   3. Others
   4. Industrial
   5. Pharmaceutical & Nutraceutical
   6. Household & Industrial Cleaning