Global fatty acid supplement market to hit $4.5 billionGlobal fatty acid supplement market to hit $4.5 billion
Global fatty acids supplements market was valued at $1,912.0 million in 2013 and is expected to grow at a CAGR of 13.1 percent from 2014 to 2020.
December 17, 2014
According to a new market report published by Persistence Market Research "The Global Market Study on Fatty Acids Supplements: Marine Oil Segment to Witness Highest Growth by 2020," the global fatty acids supplements market was valued at USD 1,912.0 million in 2013 and is expected to grow at a CAGR of 13.1 percent from 2014 to 2020, to reach an estimated value of USD 4,477.8 million by 2020. Browse the full report here.
Increasing awareness among consumers about health, diet, and fitness has helped improve lifestyles greatly. In the recent years, consumers have become more conscious of their diet intake. Fatty acids such as omega-3 offer various health benefits. Omega-3 fatty acids comprise of acidic contents such as Eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA). These acids are required for regular metabolic activities, as the human body cannot synthesize these acids on its own.
Increasing health awareness and medicinal benefits of fatty acids are major growth drivers for the global fatty acids supplements market. In addition, increasing baby boomers population is expected to drive the global fatty acids supplements market. According to the Population Division of the United Nations Department of Economic and Social Affairs (UN-DESA), there were 841 million people aged 60 and above in 2013 compared to 205 million in 1950. The number is projected to reach over 2 billion by 2050.
North America is the largest market for fatty acids supplements globally. A major factor contributing to the growth of the omega-3 market in Europe is the increasing level of awareness about omega-3 fatty acids. Asia-Pacific is the fastest growing and emerging market for omega-3. Countries such as India and China have high birth rates, which may boost the demand for omega-3 ingredients in infant formula. Birth rate is maximum in India, around 22 percent, followed by China at 12 percent in the Asia Pacific region.
The fatty acids supplements market is bifurcated into source (marine oils, algal oils, and others) by value (USD million) and by volume (million tons), application (dietary supplements, functional food and beverages, and others) by value (USD million) and by volume (million tons), and region (North America, Europe, Asia-Pacific, and rest of the world).
In terms of value, the global fatty acids supplements market grew from USD 1,430.0 million in 2010 to USD 1,912.0 million in 2013 at a CAGR of 10.2 percent. In terms of volume, the global fatty acids supplements market grew from 88.5 million tons in 2010 to 119.4 million tons in 2013 at a CAGR of 10.5 percent.
Among the regional segments, the North American fatty acids supplements market (largest market in 2013) increased by 9.2 percent CAGR during 2010 - 2013 to reach USD 688.3 million in 2013.
The global fatty acids supplements market is highly consolidated, with the top five companies holding around 75 percent market share. DSM leads the market, followed by Epax AS and Croda Health Care.
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