Growing awareness regarding consumption and use of sustainable products owing to rising health consciousness is likely to fuel demand for fatty acids in the forthcoming years. Rising concerns apropos to chronic diseases worldwide have become a subject of concern. This has pushed individuals to opt for preventive health measures and induce a positive change in their lifestyle and diet. In this backdrop, growing inclination of consumers towards healthy food is poised to complement the growth of the fatty acids market. Fatty acids support human health and are also proven vital in fighting against chronic disorders such as ulcerative colitis, coronary heart diseases, obstructive pulmonary disease, type 2 diabetes, rheumatoid arthritis and renal diseases. This continues to translate into significant opportunities of growth from the healthcare applications standpoint for fatty acids market on the global front.
Favourable Characteristics of Fatty Acids to Boost their Use in Personal Care and Cosmetic Products
On the back of effective antifungal and antiviral properties of fatty acids, their demand across multitude of end user applications in the cosmetics and personal care industry is expected to witness an upswing. Fatty acids offer opacifying effect and better consistency that improves the product’s thickness quotient. They also posses better emulsifying, wetting and cleansing properties. This characteristic nature of fatty acids has fuelled their use in balms, cosmetic creams, shampoos, liquid detergents, fabric softeners and body lotions. This factor coupled with modest growth of the personal care and cosmetic industry is expected to complement the fatty acids market worldwide.
Omega 3 Fatty Acids to Gain High Ground in the Forthcoming Years
The demand for Omega-3 fatty acids is expected to increase at a momentous rate in the following years. These fatty acids are polyunsaturated fats and are available in three major types viz., EPA (Eicosapentaenoic Acid), DHA (Docosahexaenoic Acid) and ALA (Alpha-linolenic Acid). They have double bonds of carbon and are present in specific food products such as fish, fish oil and flax seeds. Moreover, increasing penetration of Omega-3 fatty acids in API (Active Pharmaceutical Ingredients) is expected to largely contribute towards the growth of the fatty acids market owing to their use in various chronic disease treatments. For instance, Omega-3 fatty acids derived APIs are approved constituents in the treatment of coronary heart diseases, hypertriglyceridemia and arteriosclerosis obliterans across various geographies worldwide.
As per assessment of NHANES (National Health and Nutrition Examination Survey), a higher percentage of adults and children in the US consume ALA Omega-3 fatty acids in recommended amounts. This is mainly due to benefits of ALAs in reducing risk of blood clots, risk of CVDs (Cardiovascular Diseases) and sudden cardiac arrest due to abnormal heart rhythm. They are found in various vegetable oils such as safflower, soybean oil and corn. They are effective in fighting heart diseases, reducing bad cholesterol levels and lowering cancer risks. This factor continues to influence sales of Omega-3, in turn contributing to the fatty acids market growth.
Asia Pacific Poised to Account for a Significant Share in the Fatty Acids Market
Increasing demand for fatty acids across developing countries in Asia Pacific is expected to contribute to the overall valuation of fatty acids market. Rising demand can be attributed towards growing use of fatty acids in several applications including but not limited to personal care, soaps and detergents, lubricants and cosmetics. Growing economies in Asia Pacific, especially India and China, represent a major consumer pool for end use application of fatty acids. For instance, the cosmetic industry in these countries is a lucrative revenue pocket for growth in sales of fatty acids owing to aging population. As per analysis of IAAPS (International Association for Asia Pacific Studies), by end of 2050, aging population rate in China is expected to rise at an unprecedented rate. It is likely to account for more than one-third of the country’s population with individuals’ age registering more than 60 years. This aspect is expected to influence the use of cosmetic products such as anti-aging creams and lotions, consequently impacting demand of fatty acids.
In addition, the soap industry is another factor contributing to the lucrativeness of fatty acids market in Asia Pacific. Being one of the oldest sectors, soap manufacturing holds a significant share in the Indian FMCG industry. Additionally, increasing awareness of hygiene and adoption of hygiene standards particularly in rural areas is paving new opportunities for soap manufacturers. More than 50% of soap sales come from Indian rural areas and around 5 million outlets carrying out retail activities sell soaps and detergents. This factor continues to influence the use of fatty acids, in turn paving potential opportunities of growth. Moreover, their use in the plastic and rubber production, given their enhanced adhesion and internal lubrication properties, is expected contribute to the overall growth of the fatty acids market in the region.
Fatty Acids Market Competitive Landscape
Few of the key players in the fatty acids market include Wilmar International Ltd., Kao Corporation, Godrej Industries, BASF, KH NeochemCo. Ltd., and Oleon NV.
Global Fatty Acids Market is Segmented as Below:
Key Elements Included In The Study: Global Fatty Acids Market
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