New York, June 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Asia-Pacific Polyunsaturated Fatty Acids Market: Focus on Product, Application, by Country – Analysis and Forecast, 2021-2026 – https://www.reportlinker.com/p06287393/?utm_source=GNW
10 billion in 2020 and is expected to reach $1.98 billion in 2026, after a CAGR of 10.25% during the forecast period 2021-2026. The growth of the APAC PUFA market is expected to be driven by increased awareness of the health benefits of PUFAs, support from government organizations and institutions, and rise in chronic diseases.
Market life cycle stage
The APAC PUFA market is growing. Many research and development activities are ongoing to improve PUFA products and new innovative technologies in PUFAs have been introduced to the market.
Furthermore, the PUFA market has witnessed a shift in trend from animal-based PUFA products to plant-based products. There are different types of animal and plant sources that provide PUFAs. of animal origin holds the largest PUFA market share, owing to the growing awareness of holistic lifestyle choices and environmental concerns. As consumer awareness of global environmental concerns increases, the demand for sustainable ingredients and products across the world increases. Consumers are now showing a preference for more eco-friendly products in various industries such as pharmaceutical, food and beverage, etc. This trend has coincided with a move towards more holistic lifestyle choices, including the growing popularity of vegetarian, flexitarian and vegan diets. This, in turn, is expected to increase the demand for the plant-based food source over the forecast period.
• Chronic diseases and conditions are increasing around the world. An aging population and shifts in societal behaviors are leading to a steady increase in these common, long-term health issues. In addition, the population is increasing and with the acceleration of urbanization, people are adopting a more sedentary lifestyle. These trends are driving up obesity rates and the incidence of diseases such as diabetes. To overcome these challenges, various public bodies and governments are promoting healthier lifestyles that include the benefits of omega-3s to fight chronic disease.
• Various researches have been carried out for a long time on the feasibility of innovative sources of PUFAs which include plants, vegetables, animals and others. Some of them include the use of microalgae as sources of omega-3 fatty acids. Diatoms are an important group of algae high in omega-3 fatty acids that play a crucial role in global climate change and ecosystem functioning. These innovative new sources of PUFAs are expected to increase market demand.
Impact of COVID-19
The impact of Covid-19 on the PUFA market has been positive compared to other industries across the globe. During COVID-19, people’s health awareness has seen a surge in the fight against the risk of various bacterial, viral and other infections. Various chronic and serious infections lead to nutritional disorders and worsen the nutritional status of those affected. Consequently, awareness about diet and nutritional status during the COVID-19 pandemic has seen a sharp increase. This, in turn, boosted the adoption of PUFAs.
Segmentation 1: by application
• Food supplements
• Food and drinks
• Animal feed
• Others (Cosmetics, etc.)
The APAC PUFA market in the application segment is expected to be dominated by dietary supplements. PUFAs have been most commonly used in dietary supplements for a few years, as they offer various health benefits in capsule and powder form.
The most important dietary PUFAs are omega-3 and omega-6, as they are considered essential nutrients for humans.
Segmentation 2: by product type
• Omega 3
The APAC PUFA market in the product type segment is dominated by the omega-3 segment. This is due to the benefits offered by omega-3s to fight diseases such as atherosclerosis, arthritis, hypertension, depression, myocardial infarction, thrombosis and certain cancers.
Segmentation 3: by food source
• Plant sources
• Animal sources
The food sources segment is dominated by the animal sources segment. Animal-source PUFAs play the most vital role in human health, spanning from conception through all stages of maturation, human development and aging.
For example, fish play a major role in the development of the brain and retina throughout the process of fetal development and the first two years of an infant’s life.
Segmentation 4: by forms
• Ethyl esters
Ethyl ester forms of omega-3 fatty acid supplements are the most widely consumed on the market, primarily due to cost, as ethyl esters are cheaper to produce than triglyceride forms of PUFAs.
Segmentation 5: by Country
• South Korea
• Australia and New Zealand
• Rest of Asia-Pacific
China is expected to dominate the APAC PUFA market during the forecast period. period.
In addition to this, after the pandemic, in China, health awareness has reached a new level. The country is experiencing a change in lifestyles that is expanding the market for PUFAs.
Recent Developments in the APAC PUFA 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 further hiring in China.
• In December 2020, VivoMega announced a partnership with Bioscope Viet Nam, aimed at targeting the Vietnamese omega-3 fatty acid market.
• In April 2020, Novosana BV and LUS Health Ingredients joined forces to work on the vegan omega-3 market.
Demand – Drivers and Limits
Following are the demand drivers for the APAC PUFA market:
• Growing awareness of the health benefits of omega-3s
• Increase in cases of chronic diseases
• Support from organization and government institutions
The market is also expected to face some limitations owing to the following challenges:
• Price volatility of PUFA sources
• Harmful effects of high ratio consumption
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of PUFA products such as product type, food source, forms available for deployment in applications. Moreover, the study provides the reader with a detailed understanding of different PUFA products by application (pharmaceutical, dietary supplements, food & beverage, feed, and others).
Growth/Marketing Strategy: The APAC PUFA market has witnessed major development by key players operating in the market such as business expansion, partnership, collaboration and joint venture. The preferred strategy for companies has been partnerships, collaborations and joint ventures to strengthen their position in APAC PUFAs.
For example, in December 2020, VivoMega announced a partnership with Bioscope Viet Nam, aimed at targeting the Vietnamese omega-3 fatty acid market.
Competitive Strategy: Key APAC PUFA Market players analyzed and profiled in the study involve PUFA product manufacturers which product type, forms and food source products. Moreover, a detailed competitive benchmarking analysis of players operating in the APAC PUFA market has been done to help the reader understand how the players compare against each other, presenting a clear market landscape.
Moreover, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped revenue pockets in the market.
Key Market Players and Competition Summary
The companies profiled have been selected based on input gathered from primary experts and analysis of company coverage, product portfolio and market penetration.
Some of the most prominent established names in this market are:
• 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 Biopharma Inc.
• NovoSana B.V.
• Omega Protein Corporation
• Pelagia AS
• Sinomega Biotech Engineering Co., Ltd.
• Company Stepan
• South Korea
• Australia and New Zealand
• Rest of Asia-Pacific
Read the full report: https://www.reportlinker.com/p06287393/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.