Global Fatty Acids Supplements Market Size, Omega-3 Fatty Acids Supplements Market Share, Industry Analysis, Market Segmentation, Growth, Trends, Forecast
New York, NY -- (SBWIRE) -- 09/15/2017 -- Fatty acids impart a wide range of medicinal benefits. However, consumers worldwide were less aware of the health benefits of omega-3 fatty acids. The dietary supplements industry is thriving rapidly and one of the fastest growing sectors of it, is fatty acid supplements. The global fatty acid supplements market registered the revenues worth US$ 1.91 Bn in 2013, which are expected to boost up to US$ 4.47 Bn by the end of 2020. The market will expand at a robust CAGR of 13.1% over the forecast period, 2014-2020.
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Key Market Dynamics
The acidic contents of omega-3 fatty acids play a key role in regular metabolic activities, in addition to regulating the level of cholesterol in a body. Increasing awareness about the benefits of a healthy lifestyle and growing consumer preference for healthier diet regimen will remain the primary driver to the growth of the global market for fatty acid supplements. The past few years have seen the applications of omega series fatty acids in the treatment of hair, heart, and eyes. Researchers are constantly discovering more new applications, which is likely to provide an impetus to the market during the forecast period. The technological advancement has resulted in increased consumption by the processed food industry. Growing need for the regulation of oxidation in omega-3, omega-6, and omega-9 fatty acids in order to maintain the original smell, taste, and quality of food products, will also fuel the market through to 2020. The geriatric population is growing worldwide, especially in developing countries, which is expected to foster the demand for fatty acid supplements.
Infant formula is a growing trend in the market, propelling the demand for omega-3 fatty acids. Manufacturers have already started to capitalize on this trend, which is predicted to remain a fast growing trend over the next few years. Moreover, the market has been witnessing a new trend of the development of functional beverages containing omega-3 fatty acids. This further highlights a major opportunity that lies in the market over 2014-2020.
However, developing markets still face the issue of lower awareness about the health benefits of omega-3 fatty acids. This may hamper the market condition throughout the forecast period. Moreover, a large population in emerging economies does not prefer to spend on dietary supplements. This is identified to be another factor that may hold a major negative influence on the market growth. The situation is however changing since the past few years.
The fatty acids supplements market is bifurcated on the basis of source into marine oils, algal oils, and others such as flaxseed oils, and by application into dietary supplements, functional food and beverages, and others such as infant formula and pharmaceuticals. Based on the source of fatty acids, the marine oils segment is expected to maintain a dominating segment expanding at a CAGR of 12.7% during 2014-2020. Based on application, the dietary supplements segments will be the largest of all, attributed to growing consumer awareness level and rising adoption rate of dietary supplements.
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By geographical analysis, the global fatty acid supplements market is segmented into four key regions viz. North America, Europe, Asia Pacific, and rest of the world. North America represented the largest market share in 2013 and is expected to continue dominance over the forecast period. Europe is also a major market, and the growth in this region is attributed to rising awareness among consumers about the benefits of omega-3 fatty acids. Asia Pacific is the emerging, yet fastest growing market for fatty acid supplements, especially omega-3. Being one of the vital ingredients in infant formula, omega-3 is expected to gain traction in the regions with the highest birth rates i.e. India and China.
Key Market Players
The global fatty acid supplements market is highly consolidated. The top five players collectively account for over 75% share of the entire market. While DSM is the topmost company in the global fatty acid supplements market, Epax AS and Croda Health Care are among the top five in the marketplace. Other notable players include Arista Industries and Dean Foods. Most of the leading players are concentrating more on developing markets with the highest potential.