Top Emerging Trends Of Lipid Market Progress Forecast 2030 |Grand View Research, Inc.

Posted by Mrudula Karmarkar on December 16th, 2022

The global lipid market is expected to reach USD 12.85 billion by 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising utilization of lipids in the production of functional food, functional beverages, and dietary supplements owing to their rich properties such as high in energy. In the human body, lipids are used for protecting nerve cells, supporting cells and other essential functions, supplying vitamins to the body, producing hormones such as testosterone, estrogen, and cortisol, etc., which is expected to propel the demand for lipids over the projected years globally.

Ionizable lipids have been growing due to its increasing use in the pharmaceutical industry due to their high efficiency in delivering therapeutics. During COVID-19, it was widely used for transferring mRNA to cells. These above-mentioned factors are attributed to the growth of the lipid nanoparticle market.

Population growth in the Asia Pacific has been a key factor for the steady pace of growth of industries in the region. Rising consumption of consumer products, healthcare products, food & beverages products, and others has augmented the demand for chemical ingredients in the region. In addition, the region has the presence of major market players, such as Cargill Incorporated, BASF SE, and Kerry Group plc, which have been producing lipids in large volumes to fulfill the requirements in the region.

China is the most populous country in the world with population of approximately 1.42 billion. Rising population of China has propelled the consumption of food & beverages and nutritional supplements in the country. Chinese consumers are more inclined toward functional beverages that contain ingredients beneficial to health. This factor is expected to augment the demand for lipids in the manufacturing of food & beverages in China over the projected years.

The easy availability of sources such as plants and animals has resulted in an increased number of suppliers of raw materials used for developing fatty acids across the world. This high number of raw material suppliers results in intense competition in the market, thereby leading to an inconsistency in prices and availability of raw materials.

The spread of COVID-19 positively impacted the growth of the lipid market across the world. The massive health crisis worldwide during the pandemic fueled the demand for dietary supplements and medicines. Furthermore, its consumption in the pharmaceuticals industry, particularly for the formulation of the COVID-19 vaccines, enhanced its demand during the pandemic.

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Lipids are considered as an essential ingredient in the formulation of dietary supplements owing to its high content of energy and fat-soluble vitamins. Increasing health concern among people in light of the COVID-19 has propelled the demand for dietary supplements across the globe. Furthermore, availability of dietary supplements in multiple forms and in a variety of flavors has made it more socially acceptable by all age groups of people. Growing dietary supplement consumption is expected to boost the demand for lipids over the projected years.

Lipids are highly influential component for the development of mRNA-based vaccines for COVID-19. Massive demand for it in the development of COVID-19 vaccines for global population has compelled the manufacturers to ramp up their lipid production. In February 2021, Merck KGaA revealed that they have been working tirelessly to expand their lipid production capacity. In February 2021, Evonik Industries also shared its plan to accelerate its production at two plants in Germany. This has been a contributing factor for the growth of the market over the past two years.

Lipid Market Report Highlights

• Triglycerides is the fastest growing product segment with a CAGR of 8.9% from 2022 to 2030 on the account of its rising application in food & beverages industry for the formulation of functional food and functional beverages
• Food & beverages application is the fastest growing segment with a CAGR of 8.9% from 2022 to 2030 owing to the increasing consumption of food on the account of rising population
• Asia Pacific is the fastest growing region with a CAGR of 9.2% because of the increasing consumption in functional food, dietary supplements, and medicines in the countries like China and India owing to the increasing population
• The presence of government regulations related to the production and consumption of lipids in different countries owing to the usage of plants and animals for developing them is anticipated to hinder the growth of the market over the foreseeable future
• The ongoing European geopolitical conflict between Russia and Ukraine has led to a hike in the costs of oil, energy, natural gas, etc. This situation has resulted in the price hike of raw materials for lipid production

Rapid increase in population in regions like Asia Pacific, Europe, and North America is expected to contribute to the demand products such as pharmaceutical & healthcare, dietary supplements, functional food, functional beverages, cosmetic & personal care, and more. High content of omega 3 and omega 6 in lipids is the primary factor driving the significant use of it in food & beverage products.

The rising global prices of fatty acids and other raw materials act as a barrier to the growth of the market worldwide. These price fluctuations are a repercussion of the impact of the COVID-19 and the ongoing European geopolitical conflict. In North America, the price of fatty acids fluctuated in the first quarter of 2022 on the account of decline in demand for fatty acids from personal care, cosmetic, and food industry. Furthermore, American fatty acids manufacturers had to face supply shortages from Asian countries.

List of Key Players of Lipid Market

• Precision NanoSystems
• Evonik Industries AG
• Merck KGaA
• Genevant Sciences
• Exelead
• Avanti Polar Lipids
• Nippon Fine Chemicals Co. Ltd.
• Lipoid GmbH
• Cargill, Incorporated
• BASF SE
• Archer Daniels Midland Company