The global lipid market size was valued at USD 13.63 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030. The growth is attributed to its increasing applications in industries, such as pharmaceuticals, food & beverages, and nutrition supplements. The rising product demand for the development of COVID-19 vaccines will further boost the market growth. Lipids are considered an essential ingredient in the formulation of dietary supplements owing to their high energy and fat-soluble vitamin contents. Increasing health concerns among people due to COVID-19 have propelled the demand for dietary supplements across the globe. Furthermore, the availability of dietary supplements in multiple forms and a variety of flavors has made them more socially acceptable to all age groups of people.
Growing dietary supplement consumption is thus expected to boost the demand for lipids over the projected years. Lipids are highly influential components for the development of mRNA-based vaccines for COVID-19. High demand for it in the development of COVID-19 vaccines for the global population has compelled manufacturers to ramp up their lipid production. In February 2022, Merck KgaA revealed that they have been working tirelessly to expand their lipid production capacity. In February 2022, Evonik Industries also shared its plan to accelerate its production at two plants in Germany. This has been a contributing factor to the growth of the market over the past two years.
The rising population in Asia Pacific, Europe, North America, etc. will boost the demand for products, such as pharmaceuticals & healthcare, dietary supplements, functional foods, functional beverages, cosmetic & personal care, and more. The high content of omega-3 and -6 in lipids is the primary factor driving its usage in food & beverage products. The rising prices of fatty acids and other raw materials may hinder growth. The price fluctuations are a repercussion of the COVID-19 impact and ongoing European geopolitical conflict. In North America, fatty acid prices fluctuated in the first quarter of 2022 due to a decline in demand from the personal care, cosmetic, and food industries. Furthermore, fatty acid manufacturers in America had to face supply shortages from Asian countries.
The triglycerides segment dominated the industry in 2022 and accounted for the largest share of 44% of the overall revenue. Its high share is attributable to the increasing demand for derivatives of triglycerides, namely medium-chain triglycerides, and long-chain triglycerides, from end-use industries, such as functional beverages and dietary supplements among others. Triglycerides lipids are a prominent source of energy, as a result, it is extensively used in a wide variety of functional foods and beverages. The phospholipids segment is expected to register substantial growth over the forecast period. This is owing to the superior properties of phospholipids, which make them prominent ingredients in the production of functional foods and dietary supplements.
Furthermore, the rising use of phospholipids in a range of pharmaceutical technology as emulsifiers, wetting agents, and builders of micelles, cubosomes, liposomes, and others is anticipated to drive the segment. The increasing demand for sphingolipids from a variety of end-use industries, including cosmetic & personal care and other applications, will support the segment growth. The growth of this segment is also driven and fueled by the rising level of awareness about the advantages of sphingolipids. Lipid nanoparticles and the ongoing clinical trials for mRNA-based vaccines against COVID-19 were made possible by the significant production of ionizable lipids with higher in vivo potency. The market may expand as a result of research efforts to create ionizable lipids with enhanced properties. The growth of the market can also be attributed to the continuous research and investment made in the R&D of drug delivery systems.
The other phases dominated the industry in 2022 with the highest share of 71.7% of the overall revenue. Its high share is attributed to the growing demand for lipids as specialty chemicals for the production of printing inks, lubricants, surfactants, pesticide adjuvants, fuels, etc. used in different industrial applications. They are increasingly being adopted as a feasible and eco-friendly alternative in the fuels and plastics industries. The clinical utilization of lipids involves the usage of selective dietary supplements containing the chemical for treating various chronic inflammatory diseases across the world.
The increasing use of different mRNA patterns in clinical approaches for treating various health conditions in humans by key functional companies is projected to positively affect segment growth during the forecast period. Strict regulatory scenarios regarding the development of lipids lead to a reduced number of drug approvals from regulatory bodies and vaccine development programs. This affects its utilization in pre-clinical applications worldwide. Increased government intervention in pre-clinical studies is, however, anticipated to slow down the growth of the pre-clinical phase segment in the coming years.
The food & beverages segment dominated the industry with the highest revenue share of 34.4% in 2022 due to the growing food & beverages industry as a result of the rapid increase in population. Lipids are mainly utilized for preparing functional foods and beverages due to their high source of energy and vitamins. Growing health risk amid the outrageous situation of COVID-19 has propelled the demand for food and beverages that contain nutritional components. Excessive demand for nutritional food and healthy beverages is anticipated to boost the demand for the product in the food & beverages industry over the projected years.
The demand for lipids in pharmaceutical applications is expected to increase due to their increasing use in drug development and many other pharmaceutical applications. It is among the key ingredients that helped in the development of COVID-19 vaccines in 2022. It is regarded as a fundamental excipient in the pharmaceutical industry for the production of the majority of dosage forms. The increasing significance of medicines and drugs amid growing health concerns is likely to boost the demand for pharmaceuticals, thereby supporting segment growth. Rising intake of nutrition and supplements coupled with increased public awareness regarding health and fitness are also among key growth drivers. Lipids in the diet affect the food’s texture, flavor, & caloric content and help absorb fat-soluble nutrients and vitamins as a source of stored energy.
Asia Pacific dominated the industry in 2022 with the highest share of more than 39.20% of the overall revenue. This is attributed to the increasing demand for dietary supplements, functional food, functional beverages, pharmaceuticals, and more. The pandemic has made unprecedented changes in people’s lifestyles and priorities. Consumers in the Asia Pacific region are now more concerned about their health. As a result, the consumption of dietary supplements, functional foods, 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 affected by the pandemic with the maximum fatality recorded in the U.S. across all the countries in the world.
This has increased awareness about following strict precautionary measures and consuming foods that boost the immune system. Thus, dietary supplements and functional foods have become an essential part of the daily diet of many consumers. These factors have been driving the market growth in the North America region. Europe is also one of the prominent regions with a robust pharmaceutical & medical sector. The research-based pharmaceutical industry in Europe plays a critical role in its growth. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2020, Europe emerged as the second-largest pharmaceutical products seller with 23.9% of the total pharma sales. The extensive usage of lipids in the production of vaccines and the in-house large-scale production carried out by various companies in Europe are expected to have a positive impact on market growth.
The global market is heavily fragmented with the presence of a huge number of global players. The industry competition is growing as the manufacturers are focusing on increasing their customer base to gain a competitive edge over each other. Some of the prominent players in the global lipid market include:
Evonik Industries AG
Avanti Polar Lipids
Nippon Fine Chemicals Co. Ltd.
Archer Daniels Midland Company
Koninklijke DSM N.V.
Kerry Group plc
Nordic Naturals, Inc.
Croda International plc
Lipoid Kosmetik AG
Omega Protein Corp.
Market size value in 2023
USD 14.28 billion
Revenue forecast in 2030
USD 23.31 billion
CAGR of 6.9% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Volume in kilotons, revenue in USD million/billion, and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, phase, application, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Canada; Mexico; Germany; U.K.; France; Spain; Italy; Belgium; Russia; Turkey; China; India; Japan; Australia; Indonesia; Thailand; Philippines; Malaysia; Vietnam; South Korea; Brazil; Argentina; Colombia; Saudi Arabia; South Africa; UAE; Egypt; Nigeria
Key companies profiled
Precision NanoSystems; Evonik Industries AG; Merck KGaA; Genevant Sciences; Exelead; Avanti Polar Lipids; Nippon Fine Chemicals Co. Ltd.; Lipoid GmbH; Cargill, Inc.; BASF SE; Archer Daniels Midland Company; Koninklijke DSM N.V.; Kerry Group plc; Nordic Naturals, Inc.; Clover Corp.; Croda International plc; Lipoid Kosmetik AG; Omega Protein Corp.
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global lipid market report on the basis of product, phase, 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)
Vaccines & Drugs
Nutrition & Supplements
Food & Beverages
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Central & South America
Middle East & Africa
b. The global lipid market size was estimated at USD 13.63 billion in 2022 and is expected to reach USD 14.29 billion in 2023.
b. The global lipid market is expected to grow at a compound annual growth rate of 6.9% from 2023 to 2030 to reach USD 23.31 billion by 2030.
b. Asia Pacific dominated the lipid market with a share of more than 39% in 2022. China is positively contributing for the market. Increasing awareness about health and fitness among the citizens about the nutritious and daily food ingredients are contributing to the regional demand. As, there is a large consumer base for fortified foods and dietary supplements in this area.
b. Some key players operating in the lipid market include Cargill, Incorporated.; BASF SE; Archer Daniels Midland Company (ADM); Koninklijke DSM N.V.; Kerry; Nordic Naturals, Inc.; Clover Corporation; Croda International Plc.; Lipoid Kosmetik AG; and Omega Protein Corporation.
b. Key factors that are driving the lipid market growth include increasing demand of lipids as a nutritional supplement, coupled with rising awareness among customers to improve their health, and changing food patterns as per busy lifestyle.
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