Polyunsaturated fatty acids (PUFAs) are fatty acids that help lower cholesterol levels and reduce the risk of heart diseases. They provide various health benefits such as improving heart health, brain function, skin, and joint health. Owing to the growing awareness about health benefits of PUFAs, the demand for PUFA-rich foods and supplements has significantly increased in recent years.
The global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 6.36 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: Reduced Risk of Heart Diseases The opportunity for growth in the polyunsaturated fatty acids market lies in the reduced risk of heart diseases. PUFAs such as omega-3 and omega-6 fatty acids play a vital role in maintaining heart health when consumed in recommended amounts. They help reduce triglyceride and LDL cholesterol levels, regulate heart rate and rhythm, and decrease inflammation. According to American Heart Association, diets rich in omega-3 fatty acids can reduce the risk of sudden death from cardiac arrest by around 45%. Owing to increasing awareness about this heart health benefit of PUFAs, their demand from pharmaceutical and nutraceutical industries for producing supplements is growing substantially. This is expected to contribute significantly to the market growth over the forecast period. Porter’s Analysis Threat of new entrants: The threat of new entrants in the polyunsaturated fatty acids market is moderate. Production of polyunsaturated fatty acids requires advanced technology and large capital investments which act as entry barriers for new players. However, some small players can enter by offering value added products or services. Bargaining power of buyers: The bargaining power of buyers in the polyunsaturated fatty acids market is high. Buyers have multiple suppliers to choose from so they can negotiate on price and quality. Substitute products also increase buyers bargaining power. Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of raw materials like fish/flax oil have some control over pricing but major players in the market can also influence prices. Dependence on specific raw material suppliers is also less. Threat of new substitutes: Threat from substitute products is moderate to high. Products like monounsaturated fatty acids and saturated fatty acids are substitutes. Innovation in substitute products poses medium threat. Competitive rivalry: Competition in the market is high because of presence of many international and domestic players. SWOT Analysis Strength: Growing health awareness, ease of availability, wide range of end uses. Increasing use in nutraceuticals, infant formula and dietary supplements. Weakness: High R&D costs, vulnerability to supply chain disruptions. Price fluctuations of raw materials. Opportunity: Growing demand for plant-based and organic products. Innovations in application areas like personal care and animal feed. Threats: Stringent regulations regarding quality and production processes. Threat from substitute vegetable oils. Key Takeaways The global Polyunsaturated Fatty Acids Market Growth is expected to witness high growth due to increasing health consciousness. The Asia Pacific region currently dominates the global market and is expected to grow at the fastest rate during the forecast period. Rising incomes and growing awareness about health benefits of PUFAs are fueling market growth in the region. The global polyunsaturated fatty acids market is estimated to be valued at US$ 6.36 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030. Key players operating in the polyunsaturated fatty acids market are Advanced Organic Materials, Ariba, Inc. (SAP SE), Coupa Software Inc, GEP, Procurify, Sage Intacct, Inc. (The Sage Group PLC), Sievo, SutiSoft, Inc., TOUCHSTONE GROUP PLC, VA Tech Ventures Pvt Limited (Happay), and others. The industry is driven by strategic initiatives like acquisitions, expansions and new product launches by major manufacturers. Advanced Organic Materials and Ariba, Inc. (SAP SE) are market leaders in terms of sales and operational footprint. Explore more related article on this topic: https://www.ukwebwire.com/polyunsaturated-fatty-acids-market-poised-for-growth/
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