Global Fatty Acid Market Overview:
The global fatty Acid market is surging exponentially mainly due to the widening application areas of these acids such as nutrition supplement, animal feeds, cosmetic & personal care products, and in the drug manufacturing as carriers for lipid formulation. Fatty acid also finds its application in paints & varnishes, rubber compounding & formulations, textile chemicals, insecticides, plastic fabrication, and paper products.
The agriculture industry is considered as the largest user of the fatty acid Global owing to the extensive use of fatty acids in insecticides. Moreover, the growing use of fatty acids in fodders & animal feed to increase its nutritional value is escalating the market on the furthered height.
Acknowledging the potential of the market to grow further in the forthcoming years, Market Research Future (MRFR) in its recently published study report asserts that the global Fatty Acid Market is expected to reach over USD 34.2 Billion by 2030 growing at approximately 5.73% CAGR during the review period (2022-2030).
Additionally, this versatile chemical finds its usage in many industrial applications such as in rubber manufacturing & plastic production owing to its coagulating quality.
Attributing to the wide uptake in a range of application areas the market for fatty acid enjoys great traction always. The improving standard of living has increased the consumption of meat which is resultantly driving the demand for animal feed further driving the demand for fatty acids. These factors presage the galore accruals this market will be witnessing soon.
Additional factors that propel the growth of the market include changing lifestyle, improved economy, and growing population. Rapid industrialization and urbanization are also some of the predominant factors driving the growth of the market.
On the other hand, factors impeding the growth of the market include the changing climatic conditions in some regions that are negatively impacting application industries such as animal feed, rubber industry, and others. Nevertheless, product diversification and technological advancements in feed additive are expected to support market growth, providing substantial opportunities to the market players.
Global Fatty Acid Market - Segmentations:
The report has been segmented into three key dynamics for enhanced understanding: -
By Type: Saturated, Monounsaturated, Polyunsaturated, and Trans fats among others.
By Application: Health Care, Food Industry, Lubricants, Agrochemicals, and Textile Industry among others.
By Regions: North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Fatty Acid Market - Regional Analysis:
The Asia Pacific region is estimated to retain its dominance over the global fatty acid followed by Europe and North America, respectively. APAC accounts for the largest producer and consumer of fatty acid. Countries such as Malaysia, China, Indonesia, and India play a vital role in Asian fatty acid production. Indonesia, China, Malaysia, and India are the world’s leading palm oil producers and have raw material advantages.
Moreover, the availability of cost-competitive workforce in these countries has been attracting foreign investors encouraging them to shift their production bases to the region. Factors such as Growing industrialization, the presence of the largest production base and minimal regulatory norms foster the growth of the market to an extent.
The fatty acid market in the European region accounts for the world’s second-largest market, globally. Factors such as the growing demand in the cosmetic industry and the growing consumption of medicines are key driving forces driving the demand for fatty acid in Europe. Moreover, the presence of major manufacturers such as Perstorp AB & BASF positively impacts the growth in the European region, offering a superior quality product.
Stringent regulatory norms in the well-developed regions such as Europe and North America have been shifting the demand for fatty acids to emerging countries like China and India.
Global Fatty Acid Market - Competitive Landscape:
Highly competitive the global fatty acid market appears fragmented owing to the presence of a sizeable number of well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and product & technology launch in order to gain a competitive advantage in this market and to maintain their market positions.
These leading players have also made high investments locally as well as in the emerging countries to expand their distribution network, production capacity, and supply chain. The supplier’s strategy to sustain in the market is to obtain strong financial support. These players strive to minimize the cost of their product by adopting cost-effective manufacturing methods.
Major Players:
leading the global Key Fatty Acid Market Players include BASF SE (Germany), Akzo Nobel N.V (Netherlands), Arizona Chemicals (U.S.), Eastman Chemical Company (U.S.), Ashland Inc. (U.S.), Croda (India), Godrej Industries (India), Oleon N.V.(Belgium), Colgate-Palmolive Ltd (India), and Ferro Corporation (U.S.) among others.
Industry/ Innovation/ Related News:
February 05, 2019 ----- Nature’s One (the US), a leading provider for organic pediatric nutrition launched the world’s first certified organic Docosahexaenoic Acid (DHA) which is a vital Omega-3 fatty-acid nutrient for human development, particularly in utero during the 3rd Trimester continuing in early childhood for brain and eye formation. Breast milk is rich in these fatty acids.
This innovative source is a phospholipid form of DHA that can make efficient bioavailable absorption. With Nature’s one organic certified source for beneficial DHA, consumers can be assured the purest source with maximum benefits.
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