Overview and Scope
Fatty acids are carboxylic acids that act as energy for muscles, the 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 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.
Sizing and Forecast
The fatty acids market size has grown strongly in recent years. It will grow from $89.68 billion in 2023 to $98.2 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rise in demand for cosmetics and personal care products, increase in caprylic fatty acid applications, increase in health applications, and rise of plastics and rubber industries.
The fatty acids market size is expected to see strong growth in the next few years. It will grow to $137.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to augmented population demand, and rising health consciousness. Major trends in the forecast period include rise in usage of recycled raw materials in fatty acids, mergers and acquisitions, strategic partnerships, and new product launches.
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Segmentation & Regional Insights
The fatty acids market covered in this report is segmented –
1) By Product Type: Unsaturated Fatty Acids, Saturated Fatty Acids
2) By Form: Oil, Capsule, Syrup, Powder
3) By Source: Vegetable Oils, Marine, Nuts and Seeds, Soy and Soy Products, Animal Fat
4) By End User Industry: Household, Cosmetics, and Personal Care, Soap and Detergent, Oilfield, Rubber and Plastic, Lubricants, Other End-user Industries
Asia-Pacific was the largest region in the fatty acids market in 2023. North America was the second-largest region in the global fatty acids market. The regions covered in the fatty acids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The fatty acids market is being driven by the rising 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 skincare 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. According to Coty, a French beauty company, the beauty market has been constantly growing at 3% to 5% every year. Coty also forecasts that its net revenue will grow by 6% to 8% each year through 2025. The rising demand for cosmetics and personal care products increased the demand for fatty acids, thus driving the market during the period.
Key Industry Players
Major companies operating in the fatty acids market report are BASF SE, LG Household & Health Care Ltd., Kraton Corporation, Royal DSM, Cargill, Incorporated, Evonik Industries, Eastman Chemical Company, Croda International Plc, Omega Protein Corporation, AAK, Fairchem, Divine Oleoformulations (India) LLP, Australian Chemical Industries Int Co., Jayant Oils And Derivatives Ltd., Subhash Chemicals Industries Pvt Ltd, Atlas Chemicals, Guangdong Jiangmen Chemical Plant, Shanghai Yan’an Grease Chemical Co.,Ltd, Gysmecol (Guangzhou) Technology Co., Ltd., Akzonobel NV, Aker BioMarine, Oleon NV, Emery Oleochemicals GmbH, Ferro Corporation, Kao Oleochemical, Ashland Global Specialty Chemicals Inc., The Chemical Company, ChemCeed LLC, FoodScience LLC, Reagents, Applied Material Solutions, GJ Chemical, Jedwards International, Inc., Welch Holme & Clark Co. Inc., SAE Manufacturing Specialties Corp, Battelle & Renwick Inc, AKSH Industries, Inc., Norman, Fox & Co., Monson Companies, Inc., Mallinath Group, MSD OLEO FZC, Vantage Oleochemicals, SI Group, Inc
The fatty acids market report table of contents includes:
1. Executive Summary
2. Fatty Acids Market Characteristics
3. Fatty Acids Market Trends And Strategies
4. Fatty Acids Market – Macro Economic Scenario
5. Global Fatty Acids Market Size and Growth
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32. Global Fatty Acids Market Competitive Benchmarking
33. Global Fatty Acids Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fatty Acids Market
35. Fatty Acids Market Future Outlook and Potential Analysis
36. Appendix
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