Industry Insights
The global omega 7 palmitoleic acid (POA) market size reached 22.7 kilo tons in 2017 and expected to grow further over the forecast period. Rising importance of nutritional supplements in cardiovascular and ophthalmic healthcare segments is anticipated to propel market growth.
Global Omega 7 POA market volume, by application, 2015 - 2025 (Tons)
Omega 7 fatty acids belong to unsaturated fatty acid family where the site of unsaturation is linked with seven atoms from the end of the whole carbon chain. Majority of consumers from nutrition, personal care, aquaculture, animal feed, and pharmaceutical sectors use POA as omega 7 fatty acids. Palmitoleic acid is a monounsaturated fat derived from dietary sources such as animal fats and vegetable and marine oils.
Rising awareness about cardiovascular health as a result of high prevalence of heart diseases among working class population is expected to play an important role in increased spending on nutritional supplements. Omega 7 POA is expected to emerge as one of the key ingredients in fortification of nutritional supplements for improving cardiovascular health.
Rising concerns over dryness of eyes among working professionals as a result of hectic workstyle and heavy usage of personal computers, laptops, and smartphones is expected to promote use of omega 7 POA as a nutritional supplement. High consumption of junk food and lack of physical activity coupled with expansion of fast food sector is resulting in sedentary and unhealthy lifestyle and weight gain across all age groups. This factor is anticipated to propel market in near future.
Extensive R&D investments coupled with limited availability of feedstock for the production of sea buckthorn oil from buckthorn crops in Himalayan Plateau (South Asia) is projected to hinder the shift from fish oil alternatives. Fluctuating climate conditions in Peru are expected to affect the supply of anchovy fish. This factor is likely to increase raw material prices for the POA manufacturers.
Application Insights
• Cardiovascular Health
• Sports Nutrition & Joint Health
• Personal Care
• Dry Eye Conditions
• Others
Cardiovascular health is expected to account for over 40.0% of total market share by the end of 2025. Rising concerns over obesity and diabetic disorders among working professionals as a result of fluctuating dieting patterns and hectic workstyle is expected to promote the usage of omega 7 POA as supplements.
Omega 7 POA exhibits a remarkable ability to reduce C-reactive protein (CRP) released by the liver and serving it as a biomarker in case of organ inflammation in human body. Furthermore, this type of fatty acid has the edge over omega 3 sources derived from other aquaculture species as it can reduces CRP by approximately 30% and can promote cardiovascular health by improving LDL to HDL ratio.
Sports nutrition and joint health is expected to account for over 20.0% of total market share by the end of 2016. Ageing population in emerging economies including China and India is expected to increase the prevalence of diseases related to joint health. As a result, omega 7 POA is expected to be a key ingredient used in the formulation of nutrition supplements for improving joint health diseases over the next eight years.
Rising spending on the advertisements and health awareness campaigns in social websites, print media and television channels for ensuring weight management are expected to promote the usage of nutraceutical supplements. In March 2013, the government of UK published a guidance under the name, “Best practice guidance for weight management services” which is aimed at improving the commissioning of weight management services in local areas
Regional Insights
• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)
North America held around half of the global omega 7 palmitoleic acid (POA) market share in 2016. Extensive advertising campaigns in e-commerce portals and electronic media in countries like U.S. to encourage adoption of balanced diet is expected to have a positive impact on market. Furthermore, high prevalence of joint-related disorders among adults as a result of hectic lifestyle is projected to increase the usage of omega 7 POA-based nutritional supplements over the forecast period.
Europe generated sales of around USD 15.0 million in 2016. Fish oils are widely used in the Europe healthcare sector on account of their numerous benefits, including anti-inflammatory properties. Growing usage for the treatment of cardiovascular diseases, depression, cancer, osteoporosis, and Alzheimer’s disease is expected to propel regional growth over the next eight years.
Growth of Asia Pacific is driven by rapidly developing economies, rising population, and demand for advanced therapeutics. Asia Pacific is anticipated to expand at the highest CAGR over the forecast period. In addition, supportive government policies such as China’s healthcare reforms along with approval of 100% Foreign Direct Investment (FDI) in India’s healthcare equipment sector have contributed to the regional market growth.
Competitive Insights
Global companies operating in the omega 7 palmitoleic acid (POA) market are Organic Technologies, Aromtech Oy Ltd. and Tersus Life Sciences LLC. Aquaculture species including Alaska Pollock and Anchovy are used to derive POA. Rising concerns over toxicity issues are expected to encourage manufacturers to develop purified forms of omega 7 POA with reduced composition of PA. This factor is anticipated to create growth opportunities over the projected period.
Product innovation is projected to remain a critical factor for success for the market participants. Hence, most companies are investing in R&D and product launches. For instance, U.S-based Organic Technologies manufactures POA under the brand name, AlaskOmega at the refinery located in Eastern Ohio. The company sources omega 7 POA from Alaska Pollock fishes cultivated in North Pacific Ocean.
