Natural Fatty Acids Market Forecasts to 2028 – Global Analysis By Fat (Unsaturated, Saturated), Raw Material (Sunflower Oil, Canola Oil, Coconut Oil, Crude Oil, Olive Oil), Type (Distilled Fatty Acids, Stearic Acid), End User, and By Geography

Natural Fatty Acids Market Forecasts to 2028 – Global Analysis By Fat (Unsaturated, Saturated), Raw Material (Sunflower Oil, Canola Oil, Coconut Oil, Crude Oil, Olive Oil), Type (Distilled Fatty Acids, Stearic Acid), End User, and By Geography

According to Stratistics MRC, the Global Natural Fatty Acids Market is accounted for $16.64 billion in 2021 and is expected to reach $28.25 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Natural fatty acids are used in various industries such as cosmetics and personal care products, oil fields, lubricants, soap & detergent, rubber & plastic, and household due to their applicability. Natural fatty acids along with their different derivatives are utilized in an extensive range of industries, such as rubber and detergents, plastics, and household care. Different types of natural fatty acids include distilled fatty acid, stearic acid, and polyunsaturated acids. Various raw materials such as coconut, palm kernel oils, and palm oil are utilized to produce a natural fatty acid.

Market Dynamics:

Driver:

Growing demand in cosmetics and personal care products

Growing demand for cosmetics and personal care is the major driving for the market as it offers an opacifying effect and consistency and increases the thickness of the product. Hence, it is widely used in cosmetics and personal care products. Advancements in consumer lifestyles as a result of rising incomes and increasing urbanization are contributing to the increasing consumption of personal care and cosmetic products in the market, at present. As the market for personal care and cosmetic products will rise, their use of it will also continue to grow during the forecast period.

Restraint:

High cost of raw material

There has been an increase in the prices of raw materials that are used for fatty acid manufacturing such as cocoa butter, tall oil, soya, coconut-palm kernel, and, others, owing to which there is a fluctuation in the pricing of fatty acids as well. Fatty Acids are produced from natural fats and oils by hydrolytic or lipolytic splitting according to Tejimandi an advisory firm. Thus, the cost of raw materials is continuously increasing or fluctuating because of factors such as transportation & logistics, which is affecting the price of fatty acids. Thus, the volatility and increase in prices of raw materials such as oils and fats are expected to create a significant restraint for the market.

Opportunity:

Rising incidences of Cancer

Due to the rising incidences of different types of cancer, such as breast cancer, lung cancer, prostate cancer, and blood cancer, the use of natural fatty acids has observed increased use in the diagnosis of cancer and it helps in the treatment of cancer. This factor is likely to create ample opportunity for the global market in the years to come.

Threat:

Export of edible oils decreased

Due to these stringent lockdown measures, several fatty acid units had to stop their production process, which restricted the market growth, as a result of it the production and export of edible oils decreased, owing to which the demand for it also decreased, causing a significant decline in the market revenue. Furthermore, its production, consumption, imports, and exports of it were also hindered.

Palm Oil segment is expected to be the largest during the forecast period

The rising demand for biofuels across the geographies will have a positive impact on global palm oil consumption. Biodiesel has gained huge prevalence among customers as an efficient alternative to diesel over the past couple of years. With regards to feedstock, palm oil is the conventional feedstock for biodiesel manufacturing and is considered a low-cost substitute for soybean. These are a few factors that upsurge the segment growth.

The unsaturated fatty acids segment is expected to have the highest CAGR during the forecast period

The unsaturated fatty acids held the largest market share owing to increasing demand for unsaturated fatty acids in the pharmaceutical, personal care, and cosmetics industry. These fatty acids are subdivided into two groups depending on the number of double bonds.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to the rising demand for fatty acids for use in personal care and cosmetic products. Majorly driven by the influence of western culture has led to the increased usage of cosmetic products by teenagers, increased awareness of being presentable with growing women's employment, and hygiene awareness, owing to which the production of such products has also been increasing in the region. The construction industry in the region has been witnessing strong growth owing to the growing residential and commercial construction in countries. Hence, all such trends in the province are projected to drive the growth of the natural fatty acids market.

Region with highest CAGR:

North America is projected to have the highest CAGR, owing to the existence of a variety of industries and their natural fatty acids requirement. Also, the rapidly growing usage of its nutraceutical products and the increase in research and development activities are driving the market in North America. Additionally, the growing awareness of various health benefits from unsaturated fatty acids like monounsaturated fat and polyunsaturated fat will also drive the market in this province.

Key players in the market:

Some of the key players profiled in the Natural Fatty Acids Market include Akzo Nobel NV, Ashland, Inc., Baerlocher GmbH, BASF SE, Behn Meyer Holdings AG, Croda International PLC, Eastman Chemical Company, Faci Spa, Kraton Corporation, LG Chem, Monachem Additives Pvt. Ltd., Pacific OleochemicalsSdnBhd, SABIC (Saudi Basic Industries Corporation), The Chemithon Corporation, YueyangCh-Cheng Oleochemicals Co., Ltd.

Key developments:

In September 2019: BASF acquired aroma biotech innovation leader Isobionics. BASF enters the market for natural F&F ingredients. Being known as a leading supplier of synthetic aroma ingredients, the company now broadens its portfolio with natural ingredients such as vanillin, nootkatone and valencene. BASF intends to advance the technology for biotech-based aroma ingredients by combining its own R&D excellence and broad market access with the know-how and expertise of Isobionics and Conagen.

In October 2021: Eastman Chemical entered into a definitive agreement to sell its adhesives resins assets and business to UK-based chemicals company Synthomer. The sale consists of hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions and oleochemical and fatty-acid based resins product lines.

Fats Covered:
• Unsaturated
• Saturated

Raw Materials Covered:
• Sunflower Oil
• Canola Oil
• Coconut Oil
• Crude Oil
• Olive Oil
• Palm Kernel Oil
• Peanut Oil
• Soybean Oil
• Tall Oil
• Other Raw Materials

Types Covered:
• Distilled Fatty Acids
• Stearic Acid
• Tall Oil Fatty Acids
• Oleic Acids
• Fractionated Fatty Acids
• Palmitic Acid
• Linoleic Acid
• Caprylic acid (octanoic acid, C8:0)

End Users Covered:
• Bio-Diesel
• Cosmetics and Personal Care Products
• Favour & Perfume
• Household
• Lubricants
• Oil Field
• Paints
• Rubber & Plastic
• Soap & Detergent

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances