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).
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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.
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.
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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:
Company Names
- Koninklijke DSM N.V.
- BASF SE
- Croda International PLC
- Enzymotec Ltd.
- Omega Protein Corporation
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