Global Essential Fatty Acids Market - 2023-2030

Market Overview

The Global Essential Fatty Acids Market reached US$ 4.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 8.5 billion by 2030. The market is growing at a CAGR of 8.1% during the forecast period 2023-2030.

The global focus on health and wellness is growing, which has led to increased consumer awareness about the significance of nutrition in overall well-being. Consumers are actively searching for dietary interventions and supplements that provide health benefits including essential fatty acids (EFAs) which drive the market growth.

This increasing trend is driving the global demand for EFA products. Additionally, EFAs are being utilized in applications beyond dietary supplements, particularly in the functional foods and beverages sector. Manufacturers are incorporating EFAs into various products such as fortified beverages, energy bars, cereals, and bakery items. By integrating EFAs into functional foods. Consumers can conveniently include these essential nutrients in their regular diets

Market Dynamics

Increasing Prevalence of Chronic Diseases Fuels the growth of the Essential Fatty Acids Market

With the increasing burden of chronic diseases, such as cardiovascular diseases, diabetes, obesity, and neurological disorders, there is a growing emphasis on preventive healthcare. According to the Centers for Disease Control and Prevention, each year, NCDs kill 41 million people, which is equivalent to more than 7 out of 10 people worldwide. Consumers are becoming more proactive in managing their health and seeking ways to reduce the risk of developing chronic conditions. As a result, there is a higher demand for essential fatty acids (EFAs) as a preventive measure to support overall well-being and reduce the risk of chronic diseases.

EFAs have been extensively studied for their potential therapeutic effects on various chronic diseases. For example, Omega 3 fatty acids have shown promising results in managing conditions such as cardiovascular diseases, arthritis, depression, and cognitive decline. As awareness regarding the therapeutic potential of EFAs grows healthcare professionals and patients are incorporating EFAs into treatment plans and dietary regimens. This growing recognition drives the demand for EFAs in the market.

Expanding Application Scope of EFAs Across Various Industries Fuels the Market Growth Of Essential Fatty Acids

The expanding application scope of EFAs across various industries diversifies the market and fuels the market growth. EFAs, particularly Omega-3 fatty acids, have gained significant attention in the pharmaceutical industry. These fatty acids have shown potential therapeutic benefits in various health conditions such as cardiovascular diseases, inflammatory disorders, psychiatric disorders, and neurodegenerative diseases. EFAs are increasingly being utilized in the personal care and cosmetics industry. These fatty acids offer benefits for skin health, hydration, and anti-aging properties.

Essential fatty acids, especially Omega-3 fatty acids, play a crucial role in infant development. They are vital for brain development, cognitive function, and visual acuity. EFAs are essential for animal health and well-being. They are widely used as nutritional supplements in animal feed to promote growth, improve immune function, and enhance overall health in livestock and aquaculture species. Hence, EFA's expanding range of applications in pharmaceuticals, personal care, infant nutrition, animal feed, functional foods, and dietary supplements is driving its market growth.

Limited Availability of Raw Materials is Restraining the Market Growth Of Essential Fatty Acids Market

EFAs, such as Omega-3 fatty acids EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), are predominantly sourced from marine organisms like fish and algae. These sources may have limited availability due to factors such as overfishing, environmental conditions, and regulatory restrictions. The reliance on specific sources makes the availability of raw materials vulnerable to fluctuations and supply chain disruptions. This constraint can limit the production and availability of EFAs, hindering market growth.

The availability of raw materials for EFAs can be affected by seasonal variations and challenges in harvesting. For example, the harvesting of certain fish species or the cultivation of algae for Omega-3 fatty acids may be limited to specific seasons or regions. This can create supply constraints and impact the consistent production of EFAs throughout the year. Market players must navigate these challenges to ensure a stable supply of raw materials.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global essential fatty acids market is segmented based on product type, form, application, distribution channel, and region.

The Abundance of Omega-3 Fatty Acids in Fish

Based on source, essential fatty acids are classified into vegetable oils, meat, fish, seeds, nuts, and others.

In 2022, fish had the highest share in the essential fatty acids market. The fish segment is commonly recognized as one of the significant sources of Essential Fatty Acids (EFAs), particularly Omega-3 fatty acids. Fish, especially fatty fish like salmon, mackerel, and sardines, are known for their high Omega-3 content, specifically EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid). As a result, the fish segment often holds a prominent share in the EFAs market.

Fatty fish species are known to naturally accumulate Omega-3 fatty acids in their tissues. This natural abundance makes fish a valuable source for extracting EFAs, particularly EPA and DHA. The high Omega-3 content in fish contributes to the segment's significant market share.

Geographical Analysis

Growing Awareness of the Role of EFAs in the Asia-Pacific Region

In 2022, Asia Pacific has a significant share of the EFAs market. According to the Department of Biotechnology, India, India has the highest number of people with Diabetes in the world with around 77 million living with diabetes and a projection of 134 million by 2045 (International Diabetes Federation). India suffers loss of life at an early age due to cardiovascular disease which accounts for one-fourth of all deaths. EFAs, particularly Omega-3 fatty acids, have been extensively studied for their potential cardiovascular benefits, including reducing triglyceride levels, improving heart health, and managing blood pressure. The growing awareness of the role of EFAs drives the demand for EFAs products in the region.

Many countries in the Asia Pacific region have a long history of consuming Omega-3-rich foods, such as fish and seafood. Traditional diets in countries like Japan and South Korea include a significant amount of fish, which naturally provides Omega-3 fatty acids. This cultural preference and familiarity with Omega-3-rich foods contribute to the demand for EFAs in the region.

Competitive Landscape

The major global players include: Kemin Industries, Inc, KD Pharma Group, SEPPIC, Aker BioMarine AS, Koninklijke DSM NV, Croda International Plc, The Dow Chemical Company, Arbee Agencies, Arjuna Natural LLC, Arctic Nutrition.

Why Purchase the Report?

• To visualize the global Essential Fatty Acids extract market segmentation based on product type, form, source, application, and region understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous Essential Fatty Acids extract market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Global Essential Fatty Acids Extract Market Report Would Provide Approximately 69 Tables, 74 Figures And 102 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies