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Demand For Cosmetics Will Drive The Fatty Acids Market At 4% CAGR
The global fatty acids manufacturing market was worth $128.94 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 4% and reach $148.22 billion by 2023. The fatty acids market is being driven by the increasing demand for cosmetics and personal care products. Fatty acids are the emollients and emulsifiers in the cosmetics industry, used to replenish and soothe the skin. It is used as an ingredient in a variety of skin care products such as creams, lotions, shampoos, and lipsticks. Esters of fatty acids such as triglycerides, phospholipids, and cholesterol esters are commonly used in cosmetics as skin hydrants and thickeners. In 2017, according to the Global Wellness Institute, the beauty, personal care, and anti-aging market accounted for $1,083 billion. The rising demand for cosmetics and personal care products increases the demand for fatty acids, thus driving the market.
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Fatty Acids Market Restraint
Biological effects due to fatty acids deficiency is a major restraint on the fatty acids market. Biological effects such as blood pressure, stroke, coronary artery disease, inflammation, and various other diseases may occur due to insufficient intake of fatty acids such as alpha-linolenic acid (ALA) and gamma-linolenic acid (GLA). These two fatty acids are necessary and must be included in the diet. Fatty acids deficiency is most commonly observed in infants. The deficiency results in scaly dermatitis, alopecia, thrombocytopenia, and intellectual disability in children. In the US, according to the National Institutes of Health, deficiency of essential fatty acids such as omega-3s and omega-6s can lead to rough, scaly skin and dermatitis.
Increasing Use Of Omega Fatty Acids
Omega fatty acid supplements are increasingly being used due to rising consciousness regarding health. Omega fatty acids are present extensively in fish oils and are vital ingredients for the human body. Omega-3 supplements can help relieve rheumatoid arthritis symptoms and can also be used as dietary supplements or medicinal supplements. Use of Omega-3 fatty acids and Omega-6 fatty acids help to combat diseases and improve cardiovascular health, promote healthy metabolism, reduce pain and inflammation in joints, increase optimal brain function, etc. For example, in India, heart disease is one of the leading causes of death, accounting for 1.7 million deaths in 2017, which is 53% more than the number in 2005. The global omega 3 supplements market is expected to increase from $37.95 billion in 2018 to $57.06 billion by 2025.
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Fatty Acids Market Overview, Segments, Competitive Landscape
Fatty acids act as energy for muscles, heart and other organs as building blocks for fats in the human body, and also as an agent that manages inflammation in the body. Fatty acids comprise of a straight chain of an even number of carbon atoms with hydrogen atoms along the length of the chain and at one end of the chain, and a carboxyl group (-COOH) at the other end.
The fatty acids market is segmented by type into unsaturated fatty acids, and saturated fatty acids. It is also segmented by end use industry into household, cosmetics, and personal care, soap and detergent, oilfield, rubber and plastic, lubricants, and other end-user industries.
Major players in the fatty acids market are BASF SE, FMC Corporation, The Dow Chemical Company, Koninklijke Dsm Nv, Enzymotec Ltd., Croda International Plc, Omega Protein Corporation, Aker Biomarine As, Polaris Nutritional Lipids, and Cargill, Inc.
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