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Lipid Market Size - By Source (Animal Lipids, Plant Lipids), By Type (Triglycerides, Phospholipids, Sterols, Fatty Acids), By Application (Food and Beverages, Pharmaceuticals, Personal care and cosmetics, Animal feed, Industrial) & Forecast, 2024 – 2032

  • Report ID: GMI6255
  • Published Date: Jul 2023
  • Report Format: PDF

Lipid Market Size

Lipid Market size was valued at USD 13.71 billion in 2023 and is estimated to witness over 6.3% CAGR from 2024 to 2032. The food and beverage industry is a major driver of the market. Lipids are widely used as ingredients in food products to enhance taste, texture, and nutritional profile. The increasing demand for processed and convenience foods fuels the need for lipids as emulsifiers, stabilizers, flavour carriers, and fat replacers. Healthier lipid alternatives such as plant-based oils, omega-3 fatty acids, and low-trans-fat oils are gaining popularity.
 

Lipid Market

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The demand for lipid products that offer functional and nutritional benefits, such as heart-healthy fats and cholesterol-lowering properties, is on the rise. The demand for lipids enriched with functional ingredients like antioxidants, phytosterols, and omega-3 fatty acids is driven by consumers seeking functional foods and supplements that promote overall well-being.
 

Lipid prices can be volatile due to factors such as fluctuations in raw material costs, changes in supply and demand dynamics, and geopolitical events. Price volatility poses challenges for manufacturers and buyers in terms of cost management and maintaining profit margins. The lipid market is subject to various regulations and standards related to quality, safety, labelling, and environmental considerations. Compliance with these regulations can be complex and costly, particularly for companies operating in multiple regions or exporting their products. The production and processing of lipids can have environmental impacts, including deforestation, water pollution, and greenhouse gas emissions. Thus, the high-end pricing and risks associated with Lipid may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

The pandemic led to disruptions in global supply chains, including the lipid market. Restrictions on transportation, lockdown measures, and reduced workforce availability affected the sourcing of raw materials, production, and distribution of lipid products. These disruptions caused delays and shortages in the supply of lipids, impacting businesses and consumers. The pandemic influenced consumer behaviour and preferences, which in turn affected the demand for lipid products.
 

With the focus on health and immunity, there was increased demand for products containing healthy lipids, such as omega-3 fatty acids and plant-based oils. On the other hand, the demand for certain lipid products used in foodservice and hospitality industries declined due to closures and restrictions on dining establishments. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is set to drive the market growth.
 

Lipid Market Trends

There is an increasing consumer focus on health and wellness, leading to a growing demand for lipids that offer functional benefits. Healthy and functional lipids, such as omega-3 fatty acids, MCT oils, and plant sterols, are sought after for their potential to support heart health, brain function, and overall well-being. The demand for plant-based lipids is experiencing significant growth due to various factors, including increasing vegan and vegetarian diets, environmental sustainability concerns, and ethical considerations. Plant-based oils like coconut oil, avocado oil, and olive oil are gaining popularity as healthier alternatives to animal-derived fats.
 

Lipid Market Analysis

Global Lipid Market Size, By Source, 2021 - 2032 (USD Billion)

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The plant lipid market held over USD 8.4 billion revenue in 2022, driven by consumers seeking healthier alternatives to animal fats. Plant-based lipids are often perceived as healthier due to their lower saturated fat content and potential benefits such as omega-3 fatty acids from sources like flaxseed, chia seeds, or algae. Animal-based lipids, such as those derived from fish, poultry, or mammals, often offer specific nutritional benefits.
 

Global Lipid Market Revenue Share, By Type, (2022)

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The triglycerides segment accounted for 40% of the lipid market share in 2022. Triglycerides with specific fatty acid compositions, such as those rich in omega-3 fatty acids or medium-chain triglycerides (MCTs), are sought after for their potential health benefits. The demand for triglycerides in functional foods and nutraceuticals is driven by consumers looking for dietary supplements or foods that support heart health, brain function, weight management, or overall well-being.
 

The lipid market from food and beverages segment is anticipated to expand at 7.1% CAGR through 2032. Lipids are used in the food and beverage industry to enhance the flavour, texture, and overall sensory experience of products. The demand for lipids is driven by the need to create appealing taste profiles and mouthfeel in various food applications. The demand for lipids in the food industry is driven by their role as cooking oils, margarines, spreads, and ingredients for food preparations.
 

U.S. Lipid Market Size, 2020- 2032 (USD Billion)

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U.S. lipid market size held over USD 2 billion in 2022. Consumers in North America are becoming more health-conscious, leading to a growing demand for healthier lipid options. There is a focus on reducing the consumption of saturated and trans fats while increasing the intake of healthier fats, such as monounsaturated fats and omega-3 fatty acids. The demand for lipid products that align with these health goals, such as avocado oil, olive oil, and omega-3 supplements, is on the rise.
 

Lipid Market Share

Some of the major companies operating in the lipid market are:

  • Archer Daniels Midland Company (ADM)
  • Bunge Limited
  • Cargill
  • Incorporate
  • Wilmar International Limited
  • Louis Dreyfus Company
  • IOI Corporation Berhad
  • AAK AB
  • Croda International Plc
  • Kerry Group
  • BASF SE
  • DuPont de Nemours, Inc
  • Corbion N.V.
  • Bioriginal Food & Science Corporation
  • Stepan Company
  • Loders Croklaan

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Lipid Industry News

In May 2022, DSM and Firmenich have agreed to join forces to form a new company called "DSM-Firmenich", which will be a leading partner in the fields of nutrition, beauty, and well-being. This combination will leverage the respective strengths of the two companies, bringing together Firmenich's leading Perfumery and Taste businesses, science platforms, and co-creation capabilities with DSM's Health and Nutrition portfolio and scientific expertise.
 

This lipid market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & volume (Kilo Tons) from 2018 to 2032, for the following segments:

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Market, By Source

  • Plant lipid
  • Animal lipid

Market, By Type

  • Triglycerides
  • Phospholipids
  • Sterols,
  • Fatty Acids

Market, By Application

  • Food and Beverages
  • Pharmaceuticals
  • Personal care and cosmetics
  • Animal feed
  • Industrial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market valuation of lipid was reached USD 13.71 billion in 2023 and is estimated to cross USD 23.8 billion by the end of 2032, attributed to widespread usage as ingredients in food products to enhance taste, texture, and nutritional profile.
Plant lipid market generated USD 8.4 billion in revenue in 2022 and is set to witness significant traction through 2032, owing to the growing consumer preference for plant-based lipids as healthier alternatives to animal fats.
U.S. market size was valued at USD 2billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, driven by the increasing number of health-conscious consumers across American countries.
Some of the top companies in the market are Archer Daniels Midland Company (ADM), Bunge Limited, Cargill, Incorporated, Wilmar International Limited, Louis Dreyfus Company, IOI Corporation Berhad, AAK AB, Croda International Plc, Kerry Group, and BASF SE.

Lipid Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 193
  • Countries covered: 22
  • Pages: 140
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