Market Overview
The global fatty acids market size is expected to rise to a valuation of USD 21.5 billion by the end of 2024, according to the latest research report from Market Research Future (MRFR). The global fatty acids market is expected to exhibit a strong 5.25% CAGR over the forecast period from 2019 to 2024, according to the report. The report presents a detailed overview of the global fatty acid market by analyzing the market’s historical growth patterns. A detailed forecast for the market’s growth over the forecast period is further presented in the report on the basis of the accurate analysis of the market’s historical growth.
Fatty acids are vital nutrients needed in the human body for various purposes. Fatty acids are essential in maintaining top-notch operations in the brain, as well as helping preserve healthy skin. Other uses of fatty acids are as antioxidants, which may possibly have an anti-cancer function. Thus, fatty acids are vital as nutrients required in the human body. This has driven the demand for fatty acids from the food and beverage and nutraceutical industries, as manufacturers of packaged food and beverage products can promote the health benefits of foods and beverages containing fatty acids and attract new customers. The ease of incorporating fatty acids into packaged food and beverages has led to a growing demand for fatty acids from the food and beverage industry in recent years. The growing demand for dietary innovations that help prevent diseases rather than curing them has also been crucial for the global fatty acid market. The growing nutraceuticals industry is also likely to be a major driver for the global fatty acids market, as the widespread acceptance of nutraceutical products by consumers has resulted in easy visibility of fatty acid products.
The growing personal care products industry is also likely to be a major driver for the global fatty acid market over the forecast period. Fatty acids are often used as a lubricant in personal care products, leading to widespread demand for fatty acids in the pharmaceuticals and personal care products industries. The growing demand for personal care products such as soap, shampoos, and lotions and creams is likely to be a major driver for the global fatty acid market over the forecast period.
Competitive Analysis:
Leading players in the global fatty acids market include Longyan Zhuoyue New Energy Co. Ltd., Eastman Chemical Corporation, Ferro Corporation, Colgate-Palmolive Ltd., Godred Industries, Oleon NV, Ashland Inc., Arizona Chemicals, Aker BioMarine AS, Akzo Nobel NV, Wujiang Jinyu Lanolin Co., BASF SE, and Vantage Oleochemicals. Product diversification is likely to remain a major objective for players in the global fatty acid market over the forecast period, as there is strong demand for various fatty acid products in the global market. Acquisitions and mergers are also likely to be a major avenue of inorganic growth for bigger conglomerates operating in the fatty acid market.
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Segmentation:
The global saturated fatty acids market is segmented on the basis of source, type, application, and region.
By source, the global fatty acids market is segmented into animals and plants.
By type, the global fatty acids market is segmented into saturated, monounsaturated, and polyunsaturated.
By application, the market size is segmented into food and beverages, animal feed, pharmaceuticals and nutraceuticals, personal care products, and others. The food and beverages segment is likely to hold a dominant share in the global fatty acid market due to the growing demand for foods and beverages impregnated with fatty acids. The animal feed industry is also likely to remain a major consumer of fatty acids.
Regional Analysis:
Asia Pacific is likely to dominate the global saturated fatty acid market due to the widespread availability of plant as well as animal fats in the region. Countries such as China, India, and South Korea are likely to emerge as major for fatty acids market over the forecast period due to the growing health awareness among consumers in these regions
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