Polyunsaturated Fatty Acids (PUFAs) Market, by Source (Marine (Algal and Fungus Oil, Fish Oil, Krill Oil), Plant (Chia Seed Oil, Flax Seed Oil, Other)), by Form (Oil, Syrup, Softgel and Capsule, Other), by Application (Dietary Supplement, Infant Formula, Pharmaceuticals, Food and Beverages, Animal Food and Feed), by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Polyunsaturated fatty acids (PUFAs) have more than one carbon bond in the molecule. Omega-3 fatty acids and omega-3 fatty acids are polyunsaturated fatty acids. These fats are essential for improving the metabolic functions of the human body. They are widely used across pharmaceuticals, infant formula, food and beverages, dietary supplement, and animal food &feed.
Global polyunsaturated fatty acids (PUFAs) market is estimated to account for around US$ 5459.00 million in terms of value in the year 2021 and it predicted to grow at a CAGR of 8.02% during the forecast period (2022-2030)
Market Dynamics
Increasing use of PUFAs in place of saturated fat in dietary supplements and functional foods are expected to drive the market growth. Growing demand for omega-3 and omega-6 fatty acids among consumers is also supporting the market growth of polyunsaturated fatty acids. Moreover, the growing use of PUFAs in pharmaceutical and aquaculture industries is further expected to spur the market growth of the polyunsaturated fatty acids over the forecast timeframe.
Partnership and agreements among major players is a current trend in the market and this trend is expected to foster market growth. For instance, in February 2020, GC Rieber Oils (Kristiansund, Norway), a producer of marine-based omega-3 concentrates, has partnered with Barrington Nutritionals to distribute its VivoMega omega-3 fish oils to the United States and Mexico. Such partnerships and agreements are expected to spur the market growth over the forecast timeframe.
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