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 market is expected to expand at a CAGR of 8.7% from 2022 to 2030. 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.
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
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Lipids are a broad group of naturally-occurring molecules that includes fats, waxes, sterols, fat-soluble vitamins, monoglycerides, diglycerides, phospholipids, and others. Its functions include storing energy, signaling, and acting as structural components of cell membranes. Biological lipids originate from two distinct types of biochemical subunits or building blocks, ketoacyl and isoprene groups, and can be divided into categories namely fatty acyls, glycerolipids, glycerophospholipids, sphingolipids, saccharolipids, and, and sterol lipids and prenol lipids. They are used in the cosmetic and food industries as well as in nanotechnology. Lipid nanoparticles give advantages of chemical stability and good skin compatibility and provide protection against radiation and aging.
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.
Lipid Market Insights By Region
Asia Pacific dominated the market with the highest revenue share. The outbreak of the COVID-19 pandemic has made unprecedented changes in people’s lifestyles and priorities. People in the Asia Pacific region are now more concerned about their health than they have ever been before. As a result, the consumption of dietary supplements, functional food products, and medicines, among others, has significantly increased in the last few years and is likely to continue to grow in the coming years. North America was severely impacted by COVID-19, with the maximum fatality recorded in the U.S. across all the countries in the world. This factor has increased awareness among North Americans to follow strict precautionary measures and consume foods that boost the immune system. Thus, dietary supplements and functional foods have become an essential part of people’s daily diet in North America. Europe is one of the prominent regions with a robust pharmaceutical & medical sector. The research-based pharmaceutical industry in Europe plays a critical role in the region’s growth.
Competitive Analysis By Major Companies
Global market is heavily fragmented with presence of a huge number of major innovative players. The competition is growing as the manufacturers are engaged in increasing customer base to have a competitive edge over each other. Some prominent players in the global lipid market comprise of:
- Precision NanoSystems
- Evonik Industries AG
- Merck KGaA
- Genevant Sciences
- Exelead
- Avanti Polar Lipids
- Nippon Fine Chemicals Co. Ltd.
- Lipoid GmbH
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For the purpose of this report, Grand View Research has segmented the Lipid market report on the basis of product, application, and region:
- Product Outlook (Volume, Kilotons, Revenue, USD Million; 2018 – 2030)
- Phase Outlook (Volume, Kilotons, Revenue, USD Million; 2018 – 2030)
- Application Outlook (Volume, Kilotons, Revenue, USD Million; 2018 – 2030)
- Regional Outlook (Volume, Kilotons, Revenue, USD Million; 2018 – 2030)
- List of Key Players of Lipid Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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