Polyunsaturated Fatty Acids (PUFAs) Market

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2. POLYUNSATURATED FATTY ACIDS (PUFAS) MARKET ANALYSIS Polyunsaturated Fatty Acids (PUFAs) Market, By Product Type (Omega-3 Fatty Acids (Alpha-Linolenic Acid (ALA), Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA)), Omega-6 Fatty Acids (Linolenic Acid (LA), Arachidonic Acid (AA))), By Source (Marine (Algal and Fungus Oil, Fish Oil, Krill Oil), Plant (Chia Seed Oil, Flax Seed Oil, Other)), By Form (Oil, Syrup, Softgel and Capsule, Other), By Application (Dietary Supplement, Infant Formula, Pharmaceuticals, Food and Beverages, Animal Food and Feed), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Polyunsaturated fatty acids are compounds that have more than one unsaturated carbon bond. They are important fats which cannot be produced by the human body hence it is required to consume through food as it improves the overall metabolic process. They have beneficial effects on the cardiovascular system and also helps to enhance the cognitive functions. • The global polyunsaturated fatty acids (PUFAs) market is projected to reach around US$ 12,849.3 million by the end of 2027, in terms of revenue, growing at CAGR of 10.3%during the forecast period (2020-2027). • Drivers: • Growing prevalence of cardiovascular disease along with the rising awareness regarding the PUFAs for treating chronic disease is primarily fueling the market growth. According to the U.S. Department of Health & Human Services, about 647,000 Americans die from heart disease each year that’s 1 in every 4 deaths. Therefore, the growing prevalence of the cardiovascular disease is projected to foster the market growth of polyunsaturated fatty acids.

4. Figure 1. Global Polyunsaturated Fatty Acids (PUFAs) Market Share (%) in terms of Value, By Region, in 2019

5. Market Restraints: • Lack of awareness regarding the health benefits associated with consumption of PUFAs owing to a few marketing and promotional activities in rural areas is expected to hinder the market growth of polyunsaturated fatty acids.

7. Market Opportunities: • Increasing consumption of marine-derived polyunsaturated fatty acids (PUFAs), including docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) for treating various types of cancer is expected to serve major growth opportunities. It acts as an effective adjuvant to chemotherapy treatment and have anticancer effects that help in treating the cancers. Thus, growing consumption of marine-derived polyunsaturated fatty acids for preventing cancers is expected to fuel the market growth. • Growth in fisheries production is projected to provide potential opportunities to the market of polyunsaturated fatty acids. Growing demand for krill oil and highly concentrated fish oil is also expected to accelerate the market growth of polyunsaturated fatty acids. High availability of chia seeds that are a rich source of α-linolenic acid is further expected to increase the consumption of PUFAs in Brazil country. All these factors are projected to foster the market growth. 

8. Figure 2. Global Polyunsaturated Fatty Acids (PUFAs) Market– Opportunity Analysis

9. Market Trends: • Manufacturer are introducing products such as soft gels, oils, and capsules that contain docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) is a major trend in the market. For instance, in February 2020, Wiley Companies a producer of AlaskOmega® omega-3 fish oil concentrates and natural fish oils announced that it has launched an MSC-certified omega-3 concentrate powder for use in food, beverage, and dietary supplement formulations. • Increasing consumption of super-fortified food across developed countries is a major trend in the market. This trend is expected to foster the market growth of polyunsaturated fatty acids. The growing health wellness trend is leading to the rapid adoption of a healthy lifestyle among consumers which is also projected to augment the market growth. Moreover, a growing number of consumers participating in various sports and other physical activities is further expected to stimulate the market growth of polyunsaturated fatty acids over the foreseeable time period.

10. Figure 3. Global Polyunsaturated Fatty Acids (PUFAs) Market Share (%) in terms of Value, By Application, in 2019

11. On the basis of application in 2019, the dietary supplement segment has accounted the largest market share of 47.4% in terms of value, followed by infant formula and food & beverage segment respectively. • Global Polyunsaturated Fatty Acids (PUFAs) Market - Impact of Coronavirus (Covid-19) Pandemic: • Demand for dietary supplements has grown during the coronavirus pandemic as it helps to boost immunity. According to U.S. FDA (Food and Drug Administration) coronavirus cannot be transmitted through dietary supplements or their packaging. However, manufacturers are experiencing increased prices and potential shortages of raw materials to meet the consumer demand. Sales of supplements addressing cold, flu and immunity are expected to grow at a substantial rate during the pandemic and post pandemic period. According to Coherent Market Insights, demand for polyunsaturated fatty acids (PUFAs) during the pandemic. • Competitive Section:

12. Company Names  • Koninklijke DSM N.V. • BASF SE • Croda International PLC • Enzymotec Ltd. • Omega Protein Corporation • Aker BioMarine AS • Polaris Nutritional Lipids • FMC Corporation • Cargill, Incorporated • 10.GlaxoSmithKline plc. • Few Recent Developments: • In July 2019, Royal DSM, a global science-based company in Nutrition, Health, and Sustainable Living, today together with Evonik celebrated the grand opening of their Veramaris 50-50 joint venture's commercial-scale US$200 million production facility located in Blair, Neb. (USA).

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