Major players in the fatty acids market are BASF SE, Fmc Corporation, The Dow Chemical Company, Koninklijke Dsm Nv, Enzymotec Ltd., Croda International Plc, Omega Protein Corporation, Aker Biomarine As, Polaris Nutritional Lipids, Cargill and Incorporated.
The global fatty acids market is expected to grow from $106.53 billion in 2020 to $118.81 billion in 2021 at a compound annual growth rate (CAGR) of 11.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $122.66 billion in 2025 at a CAGR of 1%.
The fatty acids market consists of sales of fatty acids and related services.Fatty acids act as energy for muscles, heart and other organs as building blocks for fats in the human body and also as an agent that manages inflammation in the body.
Fatty acids comprises of a straight chain of an even number of carbon atoms with hydrogen atoms along the length of the chain and at one end of the chain and a carboxyl group (?COOH) at the other end.
The fatty acids market is being driven by the rising demand for cosmetics and personal care products.Fatty acids are the emollients and emulsifiers in the cosmetics industry, used to replenish and soothe the skin.
It is used as an ingredient in a variety of skin care products such as creams, lotions, shampoos, and lipsticks.Esters of fatty acids such as triglycerides, phospholipids, and cholesterol esters are commonly used in cosmetics as skin hydrants and thickeners.
According to statista, in 2019 the Beauty and Personal Care market realized a revenue of $505 billion worldwide. The rising demand for cosmetics and personal care products increased the demand for fatty acids, thus driving the market during the period.
Biological effects due to fatty acids deficiency is a major restraint in the fatty acids market.Biological effects such as blood pressure, stroke, coronary artery disease, inflammation, and various other diseases may occur due to insufficient intake of fatty acids such as alpha-linolenic acid (ALA) and gamma-linolenic acid (GLA).
These two fatty acids are necessary and must be included in the diet.The fatty acids deficiency is most commonly observed in infants.
The deficiency results in scaly dermatitis, alopecia, thrombocytopenia, and intellectual disability in children. In the US, according to the National Institutes of Health, deficiency of essential fatty acids such as omega-3s and omega-6s can lead to rough, scaly skin and dermatitis.
The fatty acids market covered in this report is segmented by type into unsaturated fatty acids, saturated fatty acids. It is also segmented by end use industry into household, cosmetics, and personal care, soap and detergent, oilfield, rubber and plastic, lubricants, other end-user industries.
Omega fatty acid supplements are increasingly being used due to rising consciousness regarding health.Omega fatty acids are present extensively in fish oils and are vital ingredients to the human body.
Omega-3 supplements can help relieve rheumatoid arthritis symptoms and can also be used as dietary supplements or medicinal supplements.Use of Omega-3 fatty acids and Omega-6 fatty acids help to combat diseases and improve cardiovascular health, promote healthy metabolism, reduce pain and inflammation in joints, increase optimal brain function, etc.
According to the ‘World Health Organization’ (WHO), 17.9 million people in the world die every year due to cardiovascular diseases. Therefore, rising consciousness regarding health, especially for heart diseases is expected to drive the market for fatty acids.
In February 2018, Frutarom Industries Ltd., an Israeli-based company specialized in manufacturing and distributing food flavors, seasonings, and fragrances, acquired Enzymotec Ltd. for an undisclosed amount. The acquisition helped Frutarom Industries Ltd. in enhancing its products such as infant formula, pharmaceuticals, dietary supplements and elderly clinical nutrition. Enzymotec Ltd. is an Israeli-based company that specializes in developing, manufacturing and marketing nutritional ingredient products.
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