Natural Fatty Acids Market
Natural Fatty Acids Market Forecasts to 2028 – Global Analysis By Fat (Unsaturated, Saturated), Raw Material (Sunflower Oil, Canola Oil, Coconut Oil, Crude Oil, Olive Oil), Type (Distilled Fatty Acids, Stearic Acid), End User, and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $16.64 BN |
|
Projected Year Value (2028) |
US $28.25 BN |
|
CAGR (2021 - 2028) |
7.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Fastest Growing Market |
North America |
According to Stratistics MRC, the Global Natural Fatty Acids Market is accounted for $16.64 billion in 2021 and is expected to reach $28.25 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Natural fatty acids are used in various industries such as cosmetics and personal care products, oil fields, lubricants, soap & detergent, rubber & plastic, and household due to their applicability. Natural fatty acids along with their different derivatives are utilized in an extensive range of industries, such as rubber and detergents, plastics, and household care. Different types of natural fatty acids include distilled fatty acid, stearic acid, and polyunsaturated acids. Various raw materials such as coconut, palm kernel oils, and palm oil are utilized to produce a natural fatty acid.
Market Dynamics:
Driver:
Growing demand in cosmetics and personal care products
Growing demand for cosmetics and personal care is the major driving for the market as it offers an opacifying effect and consistency and increases the thickness of the product. Hence, it is widely used in cosmetics and personal care products. Advancements in consumer lifestyles as a result of rising incomes and increasing urbanization are contributing to the increasing consumption of personal care and cosmetic products in the market, at present. As the market for personal care and cosmetic products will rise, their use of it will also continue to grow during the forecast period.
Restraint:
High cost of raw material
There has been an increase in the prices of raw materials that are used for fatty acid manufacturing such as cocoa butter, tall oil, soya, coconut-palm kernel, and, others, owing to which there is a fluctuation in the pricing of fatty acids as well. Fatty Acids are produced from natural fats and oils by hydrolytic or lipolytic splitting according to Tejimandi an advisory firm. Thus, the cost of raw materials is continuously increasing or fluctuating because of factors such as transportation & logistics, which is affecting the price of fatty acids. Thus, the volatility and increase in prices of raw materials such as oils and fats are expected to create a significant restraint for the market.
Opportunity:
Rising incidences of Cancer
Due to the rising incidences of different types of cancer, such as breast cancer, lung cancer, prostate cancer, and blood cancer, the use of natural fatty acids has observed increased use in the diagnosis of cancer and it helps in the treatment of cancer. This factor is likely to create ample opportunity for the global market in the years to come.
Threat:
Export of edible oils decreased
Due to these stringent lockdown measures, several fatty acid units had to stop their production process, which restricted the market growth, as a result of it the production and export of edible oils decreased, owing to which the demand for it also decreased, causing a significant decline in the market revenue. Furthermore, its production, consumption, imports, and exports of it were also hindered.
Palm Oil segment is expected to be the largest during the forecast period
The rising demand for biofuels across the geographies will have a positive impact on global palm oil consumption. Biodiesel has gained huge prevalence among customers as an efficient alternative to diesel over the past couple of years. With regards to feedstock, palm oil is the conventional feedstock for biodiesel manufacturing and is considered a low-cost substitute for soybean. These are a few factors that upsurge the segment growth.
The unsaturated fatty acids segment is expected to have the highest CAGR during the forecast period
The unsaturated fatty acids held the largest market share owing to increasing demand for unsaturated fatty acids in the pharmaceutical, personal care, and cosmetics industry. These fatty acids are subdivided into two groups depending on the number of double bonds.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to the rising demand for fatty acids for use in personal care and cosmetic products. Majorly driven by the influence of western culture has led to the increased usage of cosmetic products by teenagers, increased awareness of being presentable with growing women's employment, and hygiene awareness, owing to which the production of such products has also been increasing in the region. The construction industry in the region has been witnessing strong growth owing to the growing residential and commercial construction in countries. Hence, all such trends in the province are projected to drive the growth of the natural fatty acids market.
Region with highest CAGR:
North America is projected to have the highest CAGR, owing to the existence of a variety of industries and their natural fatty acids requirement. Also, the rapidly growing usage of its nutraceutical products and the increase in research and development activities are driving the market in North America. Additionally, the growing awareness of various health benefits from unsaturated fatty acids like monounsaturated fat and polyunsaturated fat will also drive the market in this province.
Key players in the market:
Some of the key players profiled in the Natural Fatty Acids Market include Akzo Nobel NV, Ashland, Inc., Baerlocher GmbH, BASF SE, Behn Meyer Holdings AG, Croda International PLC, Eastman Chemical Company, Faci Spa, Kraton Corporation, LG Chem, Monachem Additives Pvt. Ltd., Pacific OleochemicalsSdnBhd, SABIC (Saudi Basic Industries Corporation), The Chemithon Corporation, YueyangCh-Cheng Oleochemicals Co., Ltd.
Key developments:
In September 2019: BASF acquired aroma biotech innovation leader Isobionics. BASF enters the market for natural F&F ingredients. Being known as a leading supplier of synthetic aroma ingredients, the company now broadens its portfolio with natural ingredients such as vanillin, nootkatone and valencene. BASF intends to advance the technology for biotech-based aroma ingredients by combining its own R&D excellence and broad market access with the know-how and expertise of Isobionics and Conagen.
In October 2021: Eastman Chemical entered into a definitive agreement to sell its adhesives resins assets and business to UK-based chemicals company Synthomer. The sale consists of hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions and oleochemical and fatty-acid based resins product lines.
Fats Covered:
• Unsaturated
• Saturated
Raw Materials Covered:
• Sunflower Oil
• Canola Oil
• Coconut Oil
• Crude Oil
• Olive Oil
• Palm Kernel Oil
• Peanut Oil
• Soybean Oil
• Tall Oil
• Other Raw Materials
Types Covered:
• Distilled Fatty Acids
• Stearic Acid
• Tall Oil Fatty Acids
• Oleic Acids
• Fractionated Fatty Acids
• Palmitic Acid
• Linoleic Acid
• Caprylic acid (octanoic acid, C8:0)
End Users Covered:
• Bio-Diesel
• Cosmetics and Personal Care Products
• Favour & Perfume
• Household
• Lubricants
• Oil Field
• Paints
• Rubber & Plastic
• Soap & Detergent
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Natural Fatty Acids Market, By Fats
5.1 Introduction
5.2 Unsaturated
5.3 Saturated
6 Global Natural Fatty Acids Market, By Raw Material
6.1 Introduction
6.2 Sunflower Oil
6.3 Canola Oil
6.4 Coconut Oil
6.5 Crude Oil
6.6 Olive Oil
6.7 Palm Kernel Oil
6.8 Peanut Oil
6.9 Soybean Oil
6.10 Tall Oil
6.11 Other Raw Materials
6.11.1 Rapeseed
6.11.2 Fish Oils
7 Global Natural Fatty Acids Market, By Type
7.1 Introduction
7.2 Distilled Fatty Acids
7.3 Stearic Acid
7.4 Tall Oil Fatty Acids
7.5 Oleic Acids
7.6 Fractionated Fatty Acids
7.7 Palmitic Acid
7.8 Linoleic Acid
7.9 Caprylic acid (octanoic acid, C8:0)
8 Global Natural Fatty Acids Market, By End User
8.1 Introduction
8.2 Bio-Diesel
8.3 Cosmetics and Personal Care Products
8.4 Favour & Perfume
8.5 Household
8.6 Lubricants
8.7 Oil Field
8.8 Paints
8.9 Rubber & Plastic
8.10 Soap & Detergent
9 Global Natural Fatty Acids Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Akzo Nobel NV
11.2 Ashland, Inc.
11.3 Baerlocher GmbH
11.4 BASF SE
11.5 Behn Meyer Holdings AG
11.6 Croda International PLC
11.7 Eastman Chemical Company
11.8 Faci Spa
11.9 Kraton Corporation
11.10 LG Chem
11.11 Monachem Additives Pvt. Ltd.
11.12 Pacific Oleochemicals Sdn Bhd
11.13 SABIC (Saudi Basic Industries Corporation)
11.14 The Chemithon Corporation
11.15 Yueyang Ch-Cheng Oleochemicals Co., Ltd.
List of Tables
1 Global Natural Fatty Acids Market Outlook, By Region (2020-2028) (US $MN)
2 Global Natural Fatty Acids Market Outlook, By Fats (2020-2028) (US $MN)
3 Global Natural Fatty Acids Market Outlook, By Unsaturated (2020-2028) (US $MN)
4 Global Natural Fatty Acids Market Outlook, By Saturated (2020-2028) (US $MN)
5 Global Natural Fatty Acids Market Outlook, By Raw Material (2020-2028) (US $MN)
6 Global Natural Fatty Acids Market Outlook, By Sunflower Oil (2020-2028) (US $MN)
7 Global Natural Fatty Acids Market Outlook, By Canola Oil (2020-2028) (US $MN)
8 Global Natural Fatty Acids Market Outlook, By Coconut Oil (2020-2028) (US $MN)
9 Global Natural Fatty Acids Market Outlook, By Crude Oil (2020-2028) (US $MN)
10 Global Natural Fatty Acids Market Outlook, By Olive Oil (2020-2028) (US $MN)
11 Global Natural Fatty Acids Market Outlook, By Palm Kernel Oil (2020-2028) (US $MN)
12 Global Natural Fatty Acids Market Outlook, By Peanut Oil (2020-2028) (US $MN)
13 Global Natural Fatty Acids Market Outlook, By Soybean Oil (2020-2028) (US $MN)
14 Global Natural Fatty Acids Market Outlook, By Tall Oil (2020-2028) (US $MN)
15 Global Natural Fatty Acids Market Outlook, By Other Raw Materials (2020-2028) (US $MN)
16 Global Natural Fatty Acids Market Outlook, By Rapeseed (2020-2028) (US $MN)
17 Global Natural Fatty Acids Market Outlook, By Fish Oils (2020-2028) (US $MN)
18 Global Natural Fatty Acids Market Outlook, By Type (2020-2028) (US $MN)
19 Global Natural Fatty Acids Market Outlook, By Distilled Fatty Acids (2020-2028) (US $MN)
20 Global Natural Fatty Acids Market Outlook, By Stearic Acid (2020-2028) (US $MN)
21 Global Natural Fatty Acids Market Outlook, By Tall Oil Fatty Acids (2020-2028) (US $MN)
22 Global Natural Fatty Acids Market Outlook, By Oleic Acids (2020-2028) (US $MN)
23 Global Natural Fatty Acids Market Outlook, By Fractionated Fatty Acids (2020-2028) (US $MN)
24 Global Natural Fatty Acids Market Outlook, By Palmitic Acid (2020-2028) (US $MN)
25 Global Natural Fatty Acids Market Outlook, By Linoleic Acid (2020-2028) (US $MN)
26 Global Natural Fatty Acids Market Outlook, By Caprylic acid (octanoic acid, C8:0) (2020-2028) (US $MN)
27 Global Natural Fatty Acids Market Outlook, By End User (2020-2028) (US $MN)
28 Global Natural Fatty Acids Market Outlook, By Bio-Diesel (2020-2028) (US $MN)
29 Global Natural Fatty Acids Market Outlook, By Cosmetics and Personal Care Products (2020-2028) (US $MN)
30 Global Natural Fatty Acids Market Outlook, By Favour & Perfume (2020-2028) (US $MN)
31 Global Natural Fatty Acids Market Outlook, By Household (2020-2028) (US $MN)
32 Global Natural Fatty Acids Market Outlook, By Lubricants (2020-2028) (US $MN)
33 Global Natural Fatty Acids Market Outlook, By Oil Field (2020-2028) (US $MN)
34 Global Natural Fatty Acids Market Outlook, By Paints (2020-2028) (US $MN)
35 Global Natural Fatty Acids Market Outlook, By Rubber & Plastic (2020-2028) (US $MN)
36 Global Natural Fatty Acids Market Outlook, By Soap & Detergent (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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