The report segments the global fatty acid supplements market by distribution channel (Retail outlets and online stores) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global fatty acid supplements market, according to Technavio researchers:
- Growing cases of lifestyle diseases: a major market driver
- In 2016, the retail distribution channel accounted for close to 60% of the market
- EMEA and APAC are expected to witness accelerated growth during the forecast period
- BASF, Croda International, DSM, and Orkla Health are the leading players in the market
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Market growth analysis
Rising prevalence of lifestyle diseases is one of the major factors driving the global fatty acid supplements market. The lack of a balanced diet and the presence of sedentary lifestyles have resulted in the increased incidence of lifestyle diseases such as cardiovascular diseases, stroke, obesity, diabetes, and atherosclerosis. As a result, governments along with manufacturers, globally, are initiating various programs to spread health awareness.
Dietary supplements form an essential part of a fitness plan, which directly increases the demand for products such as omega-3 and omega-6. These supplements are used as preventive measures to control cholesterol levels as well as to avoid the associated risks of other lifestyle diseases such as cardiovascular diseases and strokes.
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Technavio researchers anticipate high growth for the global fatty acid supplements market in the Americas due to favorable market factors such as high product demand, high product penetration, and the presence of prominent market players. The other regional markets, namely EMEA and APAC show accelerated growth and positive shares owing to market growth caused by the late adoption of products. Hence, these regions also exhibit faster CAGRs. The shift of vendors from developed countries to these regions is another driving factor for the market in these regions.
Competitive vendor landscape
The global fatty acid supplements market is a competitive market and comprises of many players. The market comprises regional and international vendors such as BASF, Croda International, DSM, and Orkla Health that have high geographic reach, market penetration, and targeted end-user and product segments. These companies have a competitive edge in the market owing to their wide range of product offerings and presence in multiple sales channels. Apart from these, a few small players are also present in the market that are operating in regional markets with limited product categories.
According to Amber Chourasia, a lead analyst at Technavio for research on health and wellness, “There is a massive potential for the growth of the market in APAC and Latin America, particularly during the forecast period owing to the relatively late adoption of these products in these regions. India and China are lucrative markets for fatty acid supplements owing to the increased adoption of products among users and rising product demand in the market. Moreover, with the availability of low-cost land, labor, and raw materials, vendors are shifting their bases to these countries that are likely to fetch them high profits.”
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