New York, US, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Fatty Acid Market Information by Source, Type, Application, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 33.68 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 5.73% during the review timeframe.
Market Scope:
Triglycerides (TGs), which are uncharged glycerol esters, are hydrolyzed to produce fatty acids, which are carboxylic acids (i.e.neutral fats). It is a crucial part of lipids, which are fat-soluble elements found in living things like animals, plants, and bacteria. There are two types: mono- and poly-saturated fatty acids. Long aliphatic chains that are either saturated or unsaturated make up the fatty acid. It also goes by the name carboxylic acid. Manufacturers of cosmetics utilize fatty acids extensively as lubricants in many different nations. For instance, many creams and lotions for the skin and hair contain fatty acids. Fatty acids can also be employed as texturizing, stabilizing, emulsifying, wetting, anti-foam, or wetting agents.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 33.68 Billion |
| CAGR | 5.73% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Source, Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | growing demand for dietary supplements and functional food products |
| used as lubricants by cosmetics manufacturers |
Competitive Dynamics:
The leading players are now concentrating on implementing the well-known tactics such as recent innovations, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership in order to increase their market share in the global fatty acids market. Players in the fatty acid market have numerous opportunities to establish themselves on the worldwide market. These prominent market players are:
- BASF SE (Germany)
- Akzo Nobel N.V (Netherlands)
- Ashland Inc. (US)
- WujiangJinyu Lanolin Co. (China)
- Vantage Oleochemicals (US)
- Aker BioMarine AS (Norway)
- Ferro Corporation (US)
- Oleon N.V. (Belgium)
- Arizona Chemicals (US)
- Eastman Chemical Company (US)
- Colgate-Palmolive Ltd (India)
- Godrej Industries (India)
- Ferro Corporation (US)
- LongyanZhuoyue New Energy Co. Ltd. (China)
- Eastman Chemical Corporation (US)
Market USP:
Market Drivers
During the projected period, it is anticipated that rising consumer demand for a better diet and rising consumer awareness of the advantages of living a healthy lifestyle will propel the market. The food and beverage industry's rising need for omega-3 and omega-6 fatty acids is driving market expansion.
Because fatty acids are increasingly used in the personal care industry, the fatty acids market is predicted to expand at a stable rate over the forecast period. Fatty acids are the ground-breaking emollients used as a source to replenish and calm the skin in the cosmetics sector. In addition to being a common element in cosmetic products like lipstick and shampoo, fatty acids are also used in the pharmaceutical business as dietary supplements. Additionally, people globally are becoming more health conscious about issues like obesity.
The demand from the personal care industry is predicted to increase, which will lead to significant expansion in the global fatty acids market throughout the forecast period. In the personal care sector, it is frequently utilized as a thickening agent and an emulsifier. Overuse of fatty acids may have detrimental effects on one's health, which is expected to slow the market's expansion throughout the projected period. Growing uses of fatty acids in nutraceuticals and dietary supplements presents market expansion prospects for vendors.
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Market Limitations
The market's expansion may be hampered by the high cost of goods and the scarcity of raw materials. One of the main obstacles for the market may be the rising demand for fatty acids from various End-user industries.
COVID-19 Analysis:
During the COVID-19 epidemic, the market experienced some minor decline, just like any other industry. Due to a lack of investment and a temporary disruption in the sales and supply chain, the Fatty Acid Market Size has currently suffered a significant loss. Due to different economic limitations and laws, the demand for fatty acids fell during the global pandemic known as Covid-19. Additionally, several fatty acid units were forced to halt production as a result of these stringent lockdown measures, which restrained the growth of the fatty acid market in 2020. Additionally, the outbreak reduced the export and production of edible oils, which in turn reduced demand for fatty acids and resulted in a sharp reduction in the market's value. The production, consumption, imports, and exports of fatty acids were also hampered as a result of the COVID-19 outbreak.
Market Segmentation:
By Source
Due to the rising need for plant-derived fatty acids in several industrial applications, the plant source segment of the fatty acids market is predicted to experience significant expansion. Fatty acids from several plants can be produced in their seed oils, and these acids have practical industrial uses.
By Type
Due to the presence of omega-6 and omega-3 fatty acids in dietary supplements, it is anticipated that the monounsaturated sector would account for a sizeable market share throughout the projection period.
By Application
Due to the numerous applications, which include wetting agents, dispersants, emulsifying softeners, and scouring agents, the textile sector is predicted to have a significant growth in fatty acids.
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Geographic Analysis:
The research of the fatty acid market shows that the Asia-Pacific region is expected to dominate for the duration of the projected period due to the abundance of fatty acid vegetable sources in nations like Indonesia, China, and India. Due to the region's growing population and increased need for food and beverages, the market demand and supply are expanding. Additionally, the expanding application breadth in the textile and animal feed industries is propelling market expansion.
Additionally, the market in North America is predicted to have the greatest CAGR in the approaching years. The rising demand for fatty acids from numerous end-use sectors, including beverage manufacturing, food processing, personal care, and pharmaceuticals, is boosting this regional market. Additionally, well-known market companies like Arizona Chemicals, Vantage Oleochemicals, Eastman Chemical Corporation, and Ashland Inc. provide a variety of fatty acids, boosting the North American Market share during the research period.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
