PUBLISHER: SkyQuest | PRODUCT CODE: 1244287
PUBLISHER: SkyQuest | PRODUCT CODE: 1244287
Europe Lipid Ingredients Market was valued at USD 2.75 billion in 2021, and it is expected to reach a value of USD 3.6 billion by 2028, at a CAGR of more than 3.9% over the forecast period (2022-2028).
Because they include a significant amount of both energy and fat-soluble vitamins, lipids are recognised as a crucial component in the production of nutritional supplements. The COVID-19 has boosted people's concern for their health, which has raised demand for dietary supplements all across the world. It has also become more socially acceptable among people of all ages because to the availability of nutritional supplements in a variety of forms and flavours. In the upcoming years, rising dietary supplement consumption is anticipated to increase lipid demand. The development of COVID-19 mRNA-based vaccines depends heavily on lipids. Lipid production has increased as a result of the high demand for it in the creation of COVID-19 vaccines for the global population.
Europe's rapidly expanding population is expected to increase demand for a variety of goods, including pharmaceuticals, healthcare, nutritional supplements, functional food, functional drinks, cosmetics, and personal care. Its widespread use in food and beverage items is mostly due to the high concentration of omega 3 and omega 6 in lipids. Expanding the global market is hampered by the rising cost of fatty acids and other raw materials globally. Due to the COVID-19 and the ongoing geopolitical turmoil in Europe, these pricing fluctuations have occurred.
Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Europe Lipid Ingredients Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
Europe Lipid Ingredients Market is segmented based on the Source, product, phase, and Application. Based on Source, the market is segmented into Plants (Vegetable Oil, Nuts Oil, Fruit Seeds, and Other Plant-sourced Ingredients), Animals (Fish Oil, and Other Animal-sourced Lipid Ingredients), Novel Lipid Sources (Microalgae, and Insects). Based on Application, the market is segmented into Skincare products, Haircare products, and Others. Based on product, the market is segmented into Ionizable Lipids (Lipid Nano Particles), Triglycerides, Sphingolipids, Phospholipids, and Others. By phase, the market is segmented into clinical, pre-clinical, and others.
Driver
The expansion of the European lipid components market will be aided by rising consumer awareness of the importance of a balanced diet. Manufacturers are able to give customers nutritious food thanks to the growing demand for Omega-3 ingredients as a result of public awareness of their benefits. The heart, metabolism, and brain all benefit from omega-3 fatty acids. Because they give the body energy, omega-6 fatty acids are crucial. The regulation of blood pressure and other diseases is aided by the presence of both omega-3 and omega-6 fatty acids in cell membranes. Omega-3 and omega-6 fatty acids additionally have anti-inflammatory characteristics and may aid in the prevention of heart disease. These elements are predicted to cause the European market for lipid ingredients to grow.
Restraint
The availability of substitutes like mineral oil may restrain market growth. Additionally, the European lipid ingredients sector faces challenges due to the limited supply of specific lipid components.
Market Trends
A major development in the cosmetic oil market is the increased preference for vegetable oils over mineral oils in cosmetics. Throughout the forecast period, this trend is most expected to increase demand for vegetable oils from cosmetics products. This is mostly because mineral oils are made from non-renewable resources that are not sustainable and cannot be utilised in cosmetic products eternally due to their negative effects on the environment. Meanwhile, it is believed that mineral oil is impure and contains carcinogens as well as contaminants. There has been a trend away from using mineral oil in cosmetics due to growing opposition to it.