Product Code: RP-ID-10294059 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Chemicals |
Report ID: 10294059
Market Overview:
Omega 7 Palmitoleic Acid Market, By Application (Cardiovascular Health, Sports Nutrition & Joint Health, Personal Care, Dry Eye Conditions) and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025
REPORT HIGHLIGHT
The omega 7 palmitoleic acid market was valued at USD 49.82 million by 2017, growing with 13.8% CAGR during the forecast period, 2018-2025. In 2017, the market size was valued 22.82 kilo Tons in terms of volume.
Market Dynamics
Omega 7 Palmitoleic acid is a type of unsaturated fatty acid, this is known for its ability to have a positive effect on heart health. Usually derived from Fish sources, this product is used extensively as a Nutraceutical ingredient. This ingredient is known to have anti-inflammatory, and cholesterol-lowering benefits. According to the data available on the website of the Centre for Disease Control, about 47% of sudden deaths due to cardiac arrest happens outside of the hospital. This is a good indicator of how risky it is to have poor heart health.
Preventive is as good or more important that curative when it comes to heart health. It is also used for a number of other health-based categories such as dry eyes, sports nutrition, and others. Due to an increase in general health awareness and sports nutrition categories, this segment will witness promising growth during the given segment. There is a global spike in the demand for this product owing to the rise in E-commerce platforms and retail networks. One major restraint that the Omega 7 palmitoleic acid market may face is the over saturation of players manufacturing. It is already being observed that most of the players have very little product differentiation, which makes it harder to sell the product. Thus also affecting the pricing strategies for this product.
Application Takeaway
The major applications in this category remain Cardiovascular Health, Sports Nutrition & Joint Health, Personal Care, and Dry Eye Conditions. This particular product its biggest share application wise in the cardiovascular market. According to statistics by the World Health Organization (WHO) over 31% of all deaths occurred due to CVD. Based on a study by the National Centre for Biotechnology (NCBI), over 7% of the global population is affected by dry eyes. The factors that increase the risk of dry eyes include low humidity, too much work on displays and monitors of laptops, etc.
New therapies are being introduced to circumvent this situation, this includes the usage of Omega 7 Palmitoleic acid for its treatment. Sports nutrition is one of the most growing markets in this industry. The increasing risk of injuries, sprains, arthritis, inflammation, and dislocation needs professional help and medication. This will therefore further pressurize the growth of medications or Nutraceutical applications/products that contain Omega 7 Palmitoleic acid. As per an article in the Business Leader, 2018, there was a 13% rise in the sports nutrition industry, therefore there will be a definite rise in this industry.
Regional Takeaway
North America remains the largest market in the Omega 7 Palmitoleic acid industry, there is a high level of awareness and adaptation of Nutraceutical ingredients in this region, therefore boosting the growth of the Omega 7 Palmitoleic acid industry. Since fish oil is also widely accepted in this region, the American market is more accommodating of this growth. Due to regional demarcation, the Asia Pacific market is witnessing a huge growth. People are increasing the amount they spend on health-based and Nutraceutical ingredients. Increase in CVD and Joint disorders are also among the key reasons that people and companies are opting for Omega 7 Palmitoleic acid.
Key Vendor Takeaway
Some of the key players are Tersus Life Sciences LLC, Aromtech Oy Ltd, Organic Technologies, and Europharma. In order to gauge the future success of this product, extensive continued R&D and product launches will remain crucial for this product. Further research and toxicity data are pushing the product to develop and a better and highly pure and safe variant with a lower composition of Palmitoleic acid. These companies have tied up strategically with various distributors across the globe in order to increase the revenues and improve their market share globally.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
Cardiovascular Health
Sports Nutrition & Joint Health
Personal Care
Dry Eye Conditions
MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
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Proof of Quality & Reliability
