Dallas, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Fatty acids market is anticipated to grow at a steady growth rate over the forecast period, owing to increasing usage of fatty acids in the personal care industry. Fatty acids are the revolutionary emollients in the cosmetics industry and used as a source to replenish and soothe the skin. Fatty acids are used as an ingredient in varied skin-care goods such as lipsticks, shampoos, and also utilized as a dietary supplement in the pharmaceutical industry. In addition to this, rise in the health consciousness such as obesity among the consumers across the globe.
As per the report published by The Brainy Insights, the global fatty acids market is expected to grow from USD 26.69 billion in 2020 to USD 51.21 billion by 2028, at a CAGR of 8.70% during the forecast period 2021-2028.
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Fatty acids are carboxylic acids and are obtained mainly from the hydrolysis of triglycerides (TGs), which are uncharged glycerol esters (i.e.neutral fats). It is an essential component of lipids (fat-soluble components of living cells) in animals, plants, and microorganisms. It comes in the two forms mono saturated and poly saturated fatty acids.
Global fatty acids market is expected to witness rapid growth over the forecast period, owing to increasing demand from the personal care industry. It is commonly used as an emulsifier and as a thickening agent in the personal care industry. Excess use of fatty acids could lead to the negative health impact is anticipated to hinder the market growth over the forecast period. Growing applications of fatty acids in dietary supplement and nutraceuticals, offering growth opportunities for the vendors in the market.
Key players operating in the global fatty acids market Akzo Nobel, BASF SE, Arizona Chemicals, Ashland Inc., Eastman Chemical, Oleon N.V., Vantage Oleochemicals, WujiangJinyu Lanolin Co., Ltd, Ferro Corporation, FMC Corporation, The Dow Chemical Company, Koninklijke DSM NV, Enzymotec Ltd., Croda International Plc, Omega Protein Corporation, Aker BioMarine AS, Polaris Nutritional Lipids, and Cargill, Incorporated among others. To enhance their market share in the global fatty acids market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
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• For instance, in January 2018, Koninklijke DSM NV and Evonik Industries, announced the establishment of a joint venture, for the production of omega-3 fatty acids from natural marine algae for animal nutrition. This joint venture agreement includes the construction of the USD 200 million production facility at the Evonik site in the U.S. for production.
• In June 2018, BASF announced the three-year partnership with the Xerion Limited, a consumer healthcare company, to develop personalized nutrition to the next level in Asia Pacific region. This agreement includes, BASF will have the exclusive distribution rights to market PUFAcoatTM Omega-3 Index test kits, Xerion’s proprietary dried blood spot technology.
The plant source segment led the fatty acids market and valued at USD 15.03 billion in 2020
The source segment is divided into plant source and animal source. The plant source segment led to the fatty acids market and valued at USD 15.03 billion in 2020, due to increasing demand for plant derives fatty acids for many industrial applications. Some plants can produce fatty acids in their seed oils, which have useful industrial applications.
The unsaturated fatty acids accounted for the largest market share and valued at USD 16.72 billion in 2020
The type segment includes saturated fatty acids and unsaturated fatty acids. The unsaturated fatty acids held the largest market share and valued at USD 16.72 billion in 2020, owing to increasing demand for unsaturated fatty acids in the pharmaceutical, personal care, and cosmetics industry.
The oil form held the major market share of 64.26% in the year 2020
The form segment includes oil, syrup, powder, and others. The oil form held the major market share of 64.26% in the year 2020. Fatty acids often come in the oil form than the other forms such as syrup or powder. For instance, Omega 3 fatty acids derived from the fish in the oil form and has very diverse benefits for the health.
Personal care industry accounted for the major market share of 40.23% in the year 2020
The application segment is divided into animal feed, food and beverages, pharmaceutical & nutraceuticals, personal care, lubricants, and others. Personal care industry accounted for the major market share of 40.23% in the year 2020, owing to high usage in the personal care products such as soaps, cosmetics, and body lotions.
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Regional Segment Analysis of the Fatty Acids Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region emerged as the largest market for the fatty acids market and valued at USD 10.30 billion in 2020. Wide availability of raw material in the Asia Pacific region is one of the primary factor boosting the growth of the market. In addition to this, growing health awareness and the rising trend of dietary supplement in countries such as India and China, further driving the growth of the market. North America region is anticipated to grow at prominent CAGR over the forecast period, owing to increasing demand for fatty acids in the various applications such as food processing and in the textile industry.
About the report:
The global fatty acids market is analyzed on the basis of value (USD Billion), volume (Kilotons), export (Kilotons), and import (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
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