Nutritional Lipids Market - Insights and Trends 2024
Nutritional deficiencies causing several health concerns including cardiovascular diseases, diabetes, inflammation, stroke and cancer has enhanced the nutritional lipids demand. Growing geriatric population globally has further influenced the necessity for nutritious supplements. As per Census Bureau, global population aged 65 and above surpassed 600 million in 2016.
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Shifting consumer preference towards healthy lifestyles along with rising awareness regarding benefits of dietary supplements will drive the product penetration. Key health benefits including enhanced eye health, effective curing of depression & anxiety along with reduced chances of heart diseases are among key factors fueling business growth.
Potential application outlook in pharmaceuticals and dietary supplements due to technological advancement in food encapsulation will support the market penetration. Increasing lipid nutrition usage in processed food applications to enhance the nutrient content through fortification process will propel the industry growth.
Regulatory compliances, including FAO and WHO approval for lipid nutrition as efficient energy source, driver for oil-soluble vitamins and membrane function enhancer will support industry growth. High R&D investments to improve product effectiveness and nutrient content in food fortification and dietary supplements industry will support product demand.
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Increasing raw material costs including plant and marine oil are major factors influencing the nutritional lipids price trend. Lack of standardization pertaining to consumption quantity along with stringent regulations on fish oil production may hinder the industry growth.
Omega-6 will witness growth over 9% up to 2024. Maintaining bone health & reproductive system, regulating metabolism and enhancing hair & skin growth are key functions driving the product demand. High application scope in curing and preventing diabetic neuropathies, rheumatoid arthritis, hypertension and allergies will propel industry growth.
Dietary supplements contributed for over 55% of the nutritional lipids market share in 2016. Increasing consumer spending on nutritious supplements due to rising health consciousness and changing lifestyles will drive the industry demand.
Liquid form accounted for more than 60% of the industry share in 2016. Faster absorption rate along with ease in consumption properties are among major factors driving industry growth. Moreover, liquid dosage doesn’t contain additives, fillers and unnecessary ingredients which makes the product more authentic.
Animal source lipid nutrition demand registered more than 100 kilotons consumption in 2016. Strong outlook for omega-3 derived from marine oil in human as well as animal nutrition will support the business growth. However, decreasing fish oil production due to stringent regulations on environment & sustainability will enhance demand for plant sourced products.
Europe lipid nutrition market will witness gains exceeding 9% up to 2024. Growing geriatric population causing necessity for dietary supplements are key factors driving the industry growth. Government promotions and regulatory support for natural dietary ingredients will positively influence the product demand.
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Global lipid nutrition market share is highly fragmented with key players including Archer Daniels Midland Company, BASF, Croda International, DSM N.V. and Polaris. Rising number of regional manufacturers has enhanced competition among industry participants. Companies are involved in several strategies including joint ventures, acquisitions, collaborations and supply agreements to gain competitive advantage.
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