The linolenic acid market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the rapidly growing demand from the food & nutrition sector. Over the years, there has been a gradual shift in consumer consumption patterns, which has led to an increased preference for a healthier lifestyle.
Research Nester released a report titled “Linolenic Acid Market: Global Demand Analysis & Opportunity Outlook 2029”which delivers detailed overview of the global linolenic acid market in terms of market segmentation by source, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by application into personal care & cosmetics, pharmaceuticals, food & nutrition, and others. Among these segments, the food & nutrition segment is anticipated to hold the largest share by the end of 2021 in the linolenic acid market as a result of the rapidly growing number of health benefits from linolenic acid. It as been increasingly adopted for application in the dairy, baking, and confectionery sector.
The demand for food is rapidly increasing globally. This is also expected to positively impact the market growth over the forthcoming years. According to the FAO data, the production of primary crops has increased more than 50% from 2000. In addition, the production of vegetable oils has doubled since 2000.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the linolenic acid market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America, as well as Europe, holds the largest share. This can be attributed to the increasing demand for functional food and health supplements from the regions.
The increasing demand from the cosmetics sector in the European countries has also positively impacted the market growth. As per the statistics of Cosmetics Europe, the overall cosmetics and personal care market in the region was valued at $89.65 billion in 2019.
As per the WHO statistics, cardiovascular diseases (CVDs) are the number 1 cause of death globally. An estimated 17.9 million people die each year from CVDs, which estimates to around 31% of all the deaths worldwide.
Linolenic acid is being increasingly adopted for the prevention and treatment of various cardiovascular diseases. The acid is used to lower the risk of heart attacks, high cholesterol; levels, and high blood pressure. However, the high cost of linolenic acid as compared to its substitutes is estimated to restrain market growth in the near future.