Vancouver, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The global fatty acid market size was USD 27.22 Billion in 2022 and is expected to register a revenue CAGR of 4.9% during the forecast period. Rise of demand in various personal care and cosmetics products, shifting dietary preferences towards healthier fats and oils and increasing urbanization and rising disposable incomes are expected to drive revenue growth of the market.
Growing emphasis on wellness and health, clean-label and natural products, and sustainable sourcing are some of the market trends. Regulations and quality standards are very important in the food and pharmaceutical sectors. Asia is a big contributor to the global market due to its considerable output of vegetable oils and involvement in aquaculture.
Rise in demand for various personal care and cosmetics products is a major factor driving revenue growth of the market. Oleic acid and stearic acid, two fatty acids with exceptional emollient qualities that can deeply moisturize and soften the skin, are essential in these end-uses. These are priceless in formulas such as creams and lotions because of their capacity to improve the texture and consistency of the product, giving consumers the opulent sensory experience, they crave.
The negative perceptions about certain fatty acids act as a significant constraint on revenue growth of the global fatty acid market. Customers are looking for products with lower amounts of saturated fatty acids as these are linked to obesity and cardiovascular disorders. This is because they are concerned about the health effects of consuming certain saturated fatty acids, especially those present in animal fats and processed foods.
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In addition, producers have had to incur expenses and complications in reformulating their products due to regulatory restrictions demanding the disclosure of hazardous fatty acids, such as trans fats, on food labels. The production of some vegetable oils, such as palm oil, has been connected to deforestation and biodiversity loss, raising environmental concerns. Calls for more sustainable sourcing have grown, placing pressure on the sector to embrace eco-friendly practices.
Segment Insights
Source Insights:
On the basis of source, the market is segmented into plant-based, animal-based, microbial, and others. Plant-based segment is expected to register highest revenue CAGR over the forecast period. A balanced diet must include plant-based fatty acids as they have many positive effects on both the body and the mind. There are other types of these fats, such as Alpha-Linolenic Acid (ALA), which is present in walnuts, chia seeds, flaxseeds, and green vegetables. Though some plants, such as algae and seaweed, are also good sources, fatty seafood and fish are the main sources of these.
Inflammation management, cell proliferation, and brain function are all significantly impacted by ALA. Docosahexaenoic Acid (DHA) and Eicosapentaenoic Acid (EPA) support the development of the eyes, the heart, and the brain. Omega-3 fatty acid sources derived from plants are especially advantageous for people who eat a vegetarian or vegan diet because they guarantee.
Type Insights:
On the basis of type, the global fatty acid market is segmented into saturated, trans fatty acids, and unsaturated. The unsaturated segment accounted for largest revenue share in 2022. Unsaturated is an important type of fatty acid since it is one of the most utilized materials in this business area. Unsaturated type describes a class of fatty acids in the ever-changing world of the fatty acid market that have one or more double bonds in their carbon chain.
Polyunsaturated Fatty Acids (PUFAs), which have several double bonds, and Monounsaturated Fatty Acids (MUFAs) have a single double bond. MUFAs are known for their potential health advantages, especially in supporting heart health and lowering inflammation. One example of a MUFA is oleic acid, which may be found in avocados and olive oil.
PUFAs, which include omega-3 and omega-6 fatty acids, are crucial for maintaining human health because they support processes including immunological response and brain development. The production, distribution, and demand of these unsaturated fatty acids are used in food, dietary supplements, cosmetics, medications, and even biofuels.
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Regional Insights:
Asia Pacific accounted for a comparatively larger revenue share than other regional markets in the global fatty acid market in 2022, owing to wide range of uses for fatty acids in this densely populated and economically active region. Fatty acids in the form of edible oils are consumed more in the region owing to constantly expanding population and shifting dietary habits, which supports a thriving food product sector. It finds use in lubricants, polymers, and biodiesel in the industrial sector, which also includes the manufacturing, chemical, and automotive industries.
Fatty acids from natural sources such as coconut and palm oil are used in the rapidly expanding beauty and personal care sector in skincare and haircare products. Fatty acids are vital to the agriculture and animal feed industries, but the pharmaceutical and nutraceutical industries in APAC have grown quickly as well, focusing on health and wellness.
Europe is expected to register a moderate revenue growth rate during the forecast period. Fatty acids are extensively consumed by the Europe food sector, which also uses edible oils including olive, sunflower, and palm oils for food processing and cooking. Cooking oils high in monounsaturated or polyunsaturated fatty acids are becoming more and more popular in response to consumer demand for healthier food options. Fatty acids are also widely used in industrial end-uses, such as the creation of lubricants, detergents, and soaps, all of which are necessary for day-to-day living and industrial processes.
Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 27.22 Billion |
| CAGR (2023–2032) | 4.9% |
| Revenue forecast to 2032 | USD 44.65 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, source, form, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Akzo Nobel, BASF SE, Ashland Inc, Eastman chemical company, DOW, Croda International Plc, Cargill Incorporated, Arizona Chemicals, Koninklijke DSM NV, Oleon N.V., PCC Rokita, DSM |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global fatty acid market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, and testing. Some of the major companies included in the fatty acid market report are:
- Akzo Nobel
- BASF SE
- Ashland Inc
- Eastman chemical company
- DOW
- Croda International Plc
- Cargill Incorporated
- Arizona Chemicals
- Koninklijke DSM NV
- Oleon N.V.
- PCC Rokita
- DSM
Strategic Development
- On 13 February 2023, for its omega 3 and cetoleic acid component, Grøntvedt Biotech introduced CETO3. Cetoleic acid, also referred to as "omega 11," has been investigated for its capacity to change plant-based omega-3 fatty acids Alpha-Lipoic Acid (ALA) into Docosahexaenoic Acid (DHA) and Eicosapentaenoic Acid (EPA) in hepatic cells applications for the Norwegian herring product are being found in the fields of skin and heart health.
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For the purpose of this report, Emergen Research has segmented global fatty acid market on the basis of type, source, form, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
-
- Saturated
- Trans Fatty Acids
- Unsaturated
-
-
- Monounsaturated Fatty Acids (MUFAs)
- Polyunsaturated Fatty Acids (PUFAs)
-
- Source Outlook (Revenue, USD Billion; 2019-2032)
-
- Plant-Based
- Animal-Based
- Microbial
- Others
- Form Outlook (Revenue, USD Billion; 2019-2032)
-
- Oil
- Powder
- Capsule
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
-
- Food and Beverages
- Household and Industrial Cleaning
- Animal Feed
- Pharmaceuticals and Nutraceuticals
- Personal Care
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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