Global Fatty Acids Supplements Market Driven by Rising Demand for Baby Food in Asia Pacific : Persistence Market Research
The fatty acids supplements market is bifurcated into source (marine oils, algal oils, and others) by value (USD million) and by volume (million tons), application (dietary supplements, functional food and beverages, and others) by value (USD million) and by volume (million tons), and region (North America, Europe, Asia-Pacific, and rest of the world).
The report is titled “Global Market Study on Fatty Acids Supplements: Marine Oil Segment to Witness Highest Growth by 2020.”
The report presents an overview of the chief factors contributing to the overall growth of the global fatty acids supplements market, including the technological advancements leading to the production of more efficient fatty acids supplements with improved tastes. Impact of factors such as rise in the use of fatty acids in treatment of a number of eye diseases, hair issues, and heart diseases that propels the market’s growth prospects are also analyzed in the report. Another key factor behind increased demand for a number of fatty acids supplements is the rising geriatric population across the globe, states a Persistence Market Research analyst.
In the past few years, the demand for infant formula has seen a highly upward growth trajectory. Baby formulas represent a key application sector of omega-3 fatty acids, which according to the European Food Safety Authority (EFSA), aid in effective cognitive development in infants. Rising urbanization and busy daily schedules are the key factors leading to a thriving market for baby formulas in the past few years, a factor that has subsequently led to increased growth prospects of the global fatty acids supplements market. To benefit from the flourishing market, companies such as Abbott Laboratories and Nestlé S.A. have progressively expanded their product portfolio in the field of infant formulas.
Low consumer awareness regarding the numerous medicinal benefits of fatty acids, especially in developing countries, is one of the key restraining factors of the global fatty acids supplements market. The market for fatty acids supplements is also challenged in the developing world by factors such as low per capita and disposable incomes and low awareness. To overcome these restraints, companies such as Dean Foods, Croda Healthcare, DSM, and Arista Industries are focusing on innovative marketing strategies to lure the potential customers in highly opportunistic developing countries in Asia Pacific and Latin America.
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Currently, the global fatty acids supplements market earns a major share of its revenues from the regional market of North America. This region held nearly 35% of the market segment of omega-3 fatty acids in 2013. Over the report’s forecast period, the global fatty acids supplements market is expected to grow at the fastest pace in Asia Pacific.
The report presents a thorough analysis of the competitive landscape of the global fatty acids supplements market. It states that the market is highly consolidated, with the top five businesses accpunting for nearly 75% of the market in 2013. The company DSM is the current market leader, followed by the companies Epax AS and Croda Health Care.
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