Nutritional Lipids Market Size By Product (Omega-3 {Alpha-Linolenic Acid, Docosahexaenoic Acid, EPA}, Omega-6, MCTs), By Application (Dietary Supplements, Infant formula, Pharmaceuticals, Food Fortification, Animal Nutrition), Form, Source, 2023 - 2032
Report ID: GMI2409
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Published Date: March 2023
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Report Format: PDF
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Base Year: 2022
Companies covered: 14
Tables & Figures: 293
Countries covered: 23
Pages: 375
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Nutritional Lipids Market
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Nutritional Lipids Market Size
Nutritional Lipids Market size surpassed USD 13.5 billion in 2022 and is estimated to witness over 10% CAGR from 2023 to 2032, driven by the growing demand for functional food products globally.
The fast-paced lifestyle of consumers, which includes poor diet and little physical activity, has led to the rise of chronic illnesses. Mounting health consciousness of consumers has increased the demand for functional foods. As a result, the functional food sector is working to diversify products by expanding functional qualities with the increasing use of lipids as active ingredients and components in functional foods and nutraceuticals. Moreover, manufacturers are focused on producing healthy food items to lower health spending, minimize the risks of long-term illnesses, and promote human health.
High cost of production may hinder industry progress
The ongoing global political crisis has a direct effect on the food production sector, with production costs reaching new industry highs. Food makers, especially functional food producers face challenging circumstances due to severe price rises in raw materials and other vital commodities, as well as the ongoing energy crisis. As overall consumer expenditure is likely to decline, the nutritional lipids market is foreseen to be significantly affected. However, as the market has handled recent price hikes, manufacturers are analyzing consumer behaviors in response to price adjustments in order to keep customers from switching brands.
Nutritional Lipids Market Analysis
Based on product, the nutritional lipids market share from the omega-3 segment is predicted to record over 10.5% CAGR through 2032, attributed to the several health advantages associated with omega-3 fatty acids. Growing consumer awareness of preventative medical goods and the ongoing efforts by industry participants to strengthen their market position are speculated to boost the market expansion. Recently, in February 2023, Algarithm Ingredients Inc., a Canadian omega-3 leader, collaborated with Thai Union Ingredients, a nutritional ingredients producer, to develop the world's finest tasting nutritional oil, providing the most neutral flavored, sustainable, and secure the supply of algae-based omega-3 lipids to the food industry and infant formula & supplement producers.
Under the omega-3 product segment, the nutritional lipids market from DHA sub-segment is projected to reach USD 15 billion by 2032. Higher DHA levels improve stamina and performance capacity and entails shorter recovery periods in professional and amateur athletes, thereby promoting its use in sports nutrition products. Moreover, the growing consumer need for products with nutraceutical ingredients that support brain, muscle, and eye health. In February 2023, Wiley's Finest, an omega-3 supplement company, unveiled its latest product, Peak DHA, a softgel supplement to enhance brain and muscular strength.
The nutritional lipids market share from the dietary supplements application segment will exceed USD 22 billion by 2032, due to the rapid consumer shift towards healthy lifestyles. WHO and national healthcare institutes recommend the consumption of a diverse range of nutrients daily. According to the European Food Safety Authority, dietary supplements are meant to make up for nutritional deficiencies and support physiological processes. With the COVID-19 pandemic outbreak, consumers have become increasingly interested in dietary supplements in order to improve their immune system or for general body strengthening, as well as to prevent healthcare expenditure.
The nutritional lipids market size from the liquid form segment anticipated to exhibit more than 10% CAGR during the forecast timeline, owing to its effective functionality and high absorption rate. Consumer demand for softgel capsules to deliver pharmaceutical and nutraceutical medicines is gaining traction, creating enormous opportunities for product manufacturers. Furthermore, the demand for liquid nutritional lipids is likely to be stimulated by rising awareness of health supplements, a growing number of nutraceutical and softgel producers in the industry, and a significant increase in product sales in the post pandemic scenario through 2032.
North America nutritional lipids market valuation will cross USD 11.5 billion by 2032, propelled by the rising prevalence of obesity and diabetes, which necessitates a nutritious diet. According to the Council for Responsible Nutrition's (CRN) 2022 consumer survey, 75% of Americans use dietary supplements. Furthermore, the growing importance of health and physical fitness among consumers in the region has raised the demand for functional nutrition to maintain physical strength, thereby providing growth opportunities to industry participants. In March 2023, Bunge, an American food company, introduced NuliGo, a novel molecule that has structured long- and medium-chain fatty acids for sports nutrition and healthy aging products that supports muscle health.
Nutritional Lipids Market Share
Prominent participants operating across the nutritional lipids market include
These firms usually engage in strategic projects such as collaborations, acquisitions, and service portfolio expansions to attain a competitive edge. In February 2023, Croda International, a specialty chemicals firm, acquired Solus Biotech, an innovative biomaterials company for £232 million. The deal offers Solus access to its current biotech-derived ceramide and phospholipid technology, as well as its growing natural retinol capabilities.
Impact of the COVID-19 pandemic
The COVID-19 pandemic led to a global health crisis, which had a rapid and severe impact on people's well-being, particularly in nations with a large number of patients and underdeveloped healthcare systems. Fear and concerns about COVID-19 have escalated consumer interest in foods that provide major advantages such as immunity boosting and stress management. As a result, the growing demand for functional food products has significantly contributed to the market growth.
This nutritional lipids market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Product
Market, By Application
Market, By Form
Market, By Source
The above information has been provided for the following regions and countries: