Fatty Acid Supplements Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2753
Fatty Acid Supplements Market size is projected to grow rapidly owing to shifting consumer preference for healthy and nutritional food products. These supplements affect mental & physical performance along with improving body composition, which is likely drive product demand in the projected timeframe. They also help in improving immunity, promoting mental health and preventing heart diseases, thereby propelling market size.
Fatty acid supplements find extensive usage in the production of dietary products, which is likely to cater product demand in the anticipated time period. Global dietary products market is poised to surpass USD 220 Billion by 2024. Fatty acids are not naturally synthesized in the body and have to be consumed in the form of external supplements, which may boost product demand. These products are vital to brain, heart and vision health and they are an important constituent of retina and brain which plays an important role in infant visual and mental development. Growing preference for healthier diet regimen will augment the fatty acid supplements market.
Fatty acid supplements are an important ingredient of pet foods. Increased rate of pet adoption in metro cities due to concept of nuclear families is a major driver contributing significantly to the pet food market. Pet food market size is estimated to reach USD 100 billion by 2024. Appropriate amounts of omega-3 in pet food helps in maintaining pet’s skin and coat health. It treats eye disorders, constipation and promotes a strong immune system. The product in dog feed can treat diabetic neuropathy, irritable bowel disease, tumour growth inhibition and hyper-excitability disorders, which is likely to drive the fatty acid supplements market in the projected timeframe.
Fatty acid supplements market may witness strong gains owing to their application in pharmaceuticals. Global pharmaceuticals market is estimated to surpass USD 1.2 trillion by 2024. Technological advances across in the field of chronic heart failure, multiple sclerosis and rheumatoid arthritis may trigger the growth of pharmaceutical market. Extensive R&D conducted by pharmaceutical companies and innovations in oncology will drive the product demand in forecast timeframe. Consumption of fatty acid supplements is useful in curing arthritis, inflammatory bowels disease, cancer and skin problems, thus propelling product demand.
Fatty acid supplements have major application as ingredient in functional foods & beverages. They are essential for diverse health benefits including reducing the risk of cardiovascular diseases and inflammation in diabetes, thereby propelling product demand. Increasing regulation for omega-3, omega-6, and omega-9 fatty acids in order to maintain authentic taste, quality, and smell of food products, will also fuel the market growth.
Growing preference for naturally occurring products and high cost of raw material including demersal marine fishes, milk & soy milk, and seaweeds may hamper industry profitability, there by affecting fatty acid supplements market price trend.
North America led by Mexico, Canada and the U.S fatty acid supplements market size may register strong gains owing to growing health concerns among consumers and shifting preference towards healthy and nutritional food products. Large working population and high disposable income has led to high spending on healthy foods and nutritional supplements, which is likely to boost fatty acid supplements market in the projected timeframe.
Asia Pacific driven by South Korea, Japan, India and China fatty acid supplements market size, may grow significantly owing to rapid industrialisation and urbanisation. Increasing number of manufacturing facilities in food & beverages and chemical industry may trigger the market growth. Growing pharmaceutical industry in the region is likely to fuel the product demand in the region.
Europe led by UK, France and Germany fatty acid supplements market size, may witness significant gains due to growing awareness about the benefits of fatty acid supplements among consumers. Growing geriatric population and rapid industrialisation may propel the market further. Rising awareness about nutrition and spread of chronic ailments may positively influence the market. Hectic lifestyle and increasing health consciousness among consumer will help the market gain more traction.
Global fatty acid supplements market is highly consolidated between major players which include Epax AS, Croda Health Care, Copeinca AS, EFG Elbe Fetthandel GmbH, Arista industries, Axellus AS and Koninklijke DSM N.V. Other players include Omega Protein Corporation, Glaxo Smith Kline plc and DMS. Companies are investing in research & development to introduce new technologies and concentrating on distribution channels and product offerings to increase their customer base and reduce operational costs.
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