Polyunsaturated fatty acids (PUFAs) are healthy lipid molecules that consist of two or more carbon-carbon double bonds. PUFAs are rich in oil, and they are liquid at room temperature; the viscosity and melting point temperature of PUFA enhances inversely to double bond. This type of fat is predominantly found in vegetable oils such as sunflower, sesame, safflower, soybean, and corn oils. Polyunsaturated fatty acids (PUFAs) are classified as omega-3 and omega-6 fats, essential fatty acids that the body needs for brain function and cell growth. PUFAs are necessary for blood clotting, nerve function, brain health, muscle strength, among other functions.
The Asia-Pacific Polyunsaturated Fatty Acids (PUFAs) market was valued at $1.10 billion in 2020 and is projected to reach $1.98 billion in 2026, following a CAGR of 10.25% during the forecast period 2021-2026. The growth in the APAC PUFAs market is expected to be driven by increasing awareness regarding the health benefits of PUFAs, support from government organizations and institutions, and increasing chronic diseases.
Market Lifecycle Stage
The APAC PUFAs market is at the growing stage. There have been numerous research and development activities are underway to enhance PUFAs products and new innovative technologies in the PUFAs have been introduced in the market.
Furthermore, the PUFA market has been witnessing a shifting trend from animal-based to plant-based PUFA products. There are various types of animal and plant sources that provide PUFA. animal-based has the largest share in the PUFAs market, due to the increasing awareness regarding holistic lifestyle choices and environmental concerns plant-based is the fastest growing market in the Asia-Pacific region. As the consumer awareness towards global environmental concerns is driving the demand for sustainable ingredients and products across the globe is increasing. Consumers now show a preference for more eco-friendly products in various industries such as pharmaceutical, food and beverage, and others. This trend has coincided with a shift toward more holistic lifestyle choices, including the rising popularity of vegetarian, flexitarian, and vegan diets. This, in turn, is anticipated to increase the demand for the plant-based food source over the forecast period.
Impact
• Chronic diseases and conditions are rising across the globe. An aging population and variations in societal behavior are leading to a steady increase in these common and long-term health problems. In addition to this, the population is growing, and with urbanization accelerating, people are adopting a more sedentary lifestyle. Such trends are pushing obesity rates and cases of diseases such as diabetes upward. To overcome such challenges, various public organizations and governments are promoting healthier lifestyles which include the benefits of omega-3 to fight against chronic diseases.
• Various research has been conducted for a long time on the feasibility of innovative sources of PUFA which include plants, vegetables, animals, and others. Some of them include using microalgae as sources of omega-3 fatty acids. Diatoms are a prominent group of high omega-3-fatty acid-creating algae that play a crucial role in global climate change and ecosystem function. Such new innovative sources of PUFAs are anticipated to increase the demand for the market.
Impact of COVID-19
Impact of Covid-19 on PUFAs market was positive in comparison of other industries across the globe. during COVID-19, people's health awareness witnessed a sharp increase in the fight against the risk of various bacterial, viral, and other infections. Various chronic and severe infections lead to nutritional disorders and worsen affected people's nutritional status. Therefore, awareness toward diet and nutritional status during the COVID-19 pandemic witnessed a sharp increase. This, in turn, boosted the adoption of PUFAs.
Demand – Drivers and Limitations
Following are the demand drivers for the APAC PUFAs market:
• Growing Awareness Regarding Health Benefits of Omega-3
• Increasing Cases of Chronic Diseases
• Support from Government Organization and Institutions
The market is expected to face some limitations too due to the following challenges:
• Volatility in the Prices of PUFA Sources
• Harmful Effects of High Ratio Consumption
Recent Developments in APAC PUFAs Market
• In November 2021, Aker BioMarine ASA partnered with Gambol Pet Food Group of China to expand its business in the Chinese pet food market, followed by more hirings in China.
• In December 2020, VivoMega announced a partnership with Bioscope Viet Nam, aiming to target the Vietnamese market of omega-3 fatty acids.
• In April 2020, Novosana B.V and LUS Health Ingredients partnered to work on the vegan omega-3 market.
Analyst Thoughts
According to Rakhi Tanwar, Principal Analyst, BIS Research, "The APAC PUFAs market is expected witnessed tremendous growth due to increasing awareness of consuming products that help them to enhance immunity. The consumers across the globe are progressively taking proactive measures to optimize their immune health, and seeking accessible, affordable, and reliable nutritional solutions to fulfill their demands. Incorporating PUFAs in daily life mainly in dietary supplements, food and beverages can likely help people to overcome such chronic diseases. Hence, such factors are anticipated to witness strong growth of PUFAs over the forecast period."
Who should buy this report?
The companies which are manufacturing and commercializing PUFA products, research institutions, and regulatory bodies.
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Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, and analyzing company coverage, product portfolio, market penetration.
Some of the prominent names established in this market are:
• Aker BioMarine ASA
• BASF SE
• CABIO Biotech (Wuhan) Co., Ltd.
• Cargill, Incorporated.
• Cellana, Inc.
• Clover Corporation
• Croda International PLC
• DSM
• Guangdong Runke Bioengineering Co. Ltd.
• Huatai
• Jindawei Group
• KinOmega Biopharm Inc
• Novasep
• NovoSana B.V.
• Omega Protein Corporation
• Pelagia AS
• Polaris
• Sinomega Biotech Engineering Co., Ltd
• Solutex
• Stepan Company
• Veramaris
• VivoMega
