The global fatty acid market size is expected to reach USD 45.8 billion by 2026 growing at CAGR 5.2% according to a new report published by Polaris Market Research. The report “Fatty Acid Market Share, Size, Trends, Industry Analysis Report By Product Type (Saturated, Monounsaturated, Polyunsaturated, and Trans Fats), By Application (Dietary Supplements, Food & Beverage, Animal Feed, Cosmetics, Lubricants, and Others), By Regions, Segments & Forecast, 2019 - 2026” provides a comprehensive analysis of present market insights and future market trends.
Fatty acids are carboxylic group-carbon compounds identified by its long aliphatic chain. It is characterized by presence of large number of derivatives. The global market has got its healthy outlook thanks to healthcare and food and beverage industry. Fatty acids are also used up in forming other chemical compound chains and used in different applications with renewable raw materials to thank for.
Fatty acids are derived from different vegetable-based oils such as coconuts, tallow, palm kernel, sunflower and soybean. The concentration of fatty acids varies from raw material to raw material. For instance, coconut oil has higher content of lauric acid and palm kernel oil is rich in stearic and palmitic acid.
The global fatty acid market is expected to draw high growth on account of rising geriatric population and a high demand from soap and detergent industry. Fatty acids have a wide application spectrum such as detergents, varnishes, textile chemicals, paints, insecticides, rubber compounding and synthetic rubber formulations.
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Food and beverage is the most visited application segment for fatty acids. An increasing disposable income and major area of spending belonging to food and bakery products in both developed and developing nations has helped growth of food industry. This has led to growth in fatty acids. Healthcare products have also lured consumer sentiments causing increased presence of fatty acids in dietary supplements.
Omega-3 and Omega-6 based dietary supplements are known to lower risk of chronic diseases and constitute population’s major intake of dietary supplements. A fast-growing urban population in emerging economies and growing attraction of personal care products driving a healthy demand, results in increased consumption of fatty acids in personal care products and toiletries.
A rising government and health agencies drive to augment health and nutrition among lower economic strata of individuals has been pushing growth of dietary supplements and indirectly helping growth of fatty acid market in forward direction.
Asia Pacific is the largest regional market for fatty acids. Indonesia, Malaysia, Philippines and India are major nations contributing to growth of fatty acids market. India and China are among major consumers of fatty acids. North America and Europe is a notch down in leadership for fatty acids.
The global fatty acids market is strongly competitive and vertical integration comes into play. The key players include BASF SE, Eastman Chemical Corporation, Ashland Inc., Vantage Oleochemicals, Godrej Industries, Oleon, Akzo Nobel and Arizona Chemicals.
Polaris Market Research has segmented the global fatty acid market report on the basis of type, application and Region