Asia-Pacific Polyunsaturated Fatty Acids (PUFAs) Market Report 2022: Growing Awareness Regarding Health Benefits of Omega-3 & Increasing Cases of Chronic Diseases Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Polyunsaturated Fatty Acids (PUFAs) Market: Focus on Product (Omega 3 & Omega 6 Product), Application, Country-Wise - Analysis and Forecast, 2021-2026" report has been added to ResearchAndMarkets.com's offering.
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.
- 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.
by Application (Pharmaceutical, Dietary Supplements, Food and Beverages, Animal Feed, Others (Cosmetics, etc.))
The APAC PUFAs market in the Application segment is expected to be dominated by the dietary supplements. PUFAs are most commonly used in dietary supplements for the past few years, as offers various health benefits in the form of capsules and powders. The most important dietary of PUFAs are omega-3 and omega-6, as they are considered essential nutrients for humans.
by Product Type (Omega-3, Omega-6)
The APAC PUFAs market in product type segment is dominated by the omega-3 segment. This is due to benefits offered by Omega-3 to fight against diseases such as atherosclerosis, arthritis, hypertension, depression, myocardial infarction, thrombosis, and some cancers.
by Food Source (Plant Sources, Animal Sources)
The food source segment is dominated by animal source segment. Animal source PUFA play the most vital role in human health, ranging from conception across every stage of maturation, human development, and aging. For instance, fishes play a chief role in the brain and retina development throughout the fetal development process and the first two years of infant's life.
by Forms (Ethyl Esters, Triglycerides, Others)
Ethyl ester forms of omega-3 fatty acid supplements are most widely consumed in the market mainly due to the cost, as ethyl esters are cheaper to produce than triglyceride forms of PUFA.
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
Key Market Players
- Aker BioMarine ASA
- BASF SE
- CABIO Biotech (Wuhan) Co., Ltd.
- Cargill, Incorporated.
- Cellana, Inc.
- Clover Corporation
- Croda International PLC
- Guangdong Runke Bioengineering Co. Ltd.
- Jindawei Group
- KinOmega Biopharm Inc
- NovoSana B.V.
- Omega Protein Corporation
- Pelagia AS
- Sinomega Biotech Engineering Co., Ltd
- Stepan Company
Key Topics Covered:
5 Markets - Competitive Benchmarking & Company Profiles
6 Research Methodology
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