The linolenic acid market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. It is an omega-3 fatty acid and is procured in 2 grades, including industrial and food grade. This acid is an essential acid as it holds a crucial function in human growth and development. The most significant functional application of this acid includes inhibition of prostaglandin synthesis in the prevention of a few chronic diseases and inflammation reduction.
The market is segmented based on the applications into personal care & cosmetics, pharmaceuticals, food & nutrition, and others, out of which, the food & nutrition segment is anticipated to grab the major share by the end of 2021 on account of a gradual shift in the consumer consumption pattern while simultaneously increasing preference for a healthier lifestyle. In addition, the rapidly growing number of health benefits from the acid has resulted in its increased application in the dairy, baking, and confectionery sector.
Similarly, the pharmaceutical sector is also anticipated to witness notable growth in the demand. This can be attributed to the growing adoption of linolenic acid for the prevention and treatment of cardiovascular diseases. The acid is used to lower the risk of heart attacks, high blood pressure, and high cholesterol levels. Furthermore, it is also used to treat rheumatoid arthritis, multiple sclerosis, ulcerative colitis, and Crohn’s disease. Few other uses include the treatment of migraine, skin cancer, allergies, as well as inflammatory conditions such as eczema and psoriasis.
In terms of regional analysis, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The Asia Pacific region is anticipated to grow at the highest CAGR over the forecast period owing to the increasing adoption of linolenic acid in various end-use sectors in the region. Furthermore, in 2021, the market in North America and Europe is evaluated to occupy the largest share in terms of revenue, on account of growing levels of disposable income in tandem with the increased demand from the functional food and health supplements in the regions. Concurrently, the growing demand from the cosmetics sector in the Europe, particularly from Western European countries has also strengthened the market growth. As per the statistics of Cosmetics Europe, the overall cosmetics and personal care market in the region was valued at USD 89.65 billion in 2019. Moreover, the key contributing countries include Germany, France, UK, Italy, Spain, and Poland. CLICK TO DOWNLOAD SAMPLE REPORT
The global linolenic acid market is further classified on the basis of region as follows:
Our in-depth analysis of the global linolenic acid market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rapidly growing number of health and dietary benefits associated with the linolenic acid are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
High cost of the linolenic acid as compared to its substitutes is estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the growing adoption of linolenic acid in various end-use industries.
The major players dominating the linolenic acid market are BASF SE, DSM, Croda International Plc, Inc., Cayman Chemical, and Merck KGaA among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, source, and region.
With respect to application, the food nutrition segment is anticipated to hold the largest market share owing to the gradual shift in the consumer consumption pattern while simultaneously increasing preference for healthier lifestyle.
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