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Lipids market size is forecast to reach US$17.3 billion by 2027, after growing at a CAGR of 9.3% during 2022-2027. Lipids are hydrogen molecules that act as structural and functional foundations in living organisms. The steroid hormone, which is made up of lipid-derived hormones like testosterone and oestrogen, is a crucial chemical messenger, this acts as an essential function for signaling the cells. The lipids market is primarily driven by the growth of the healthcare and pharmaceuticals industry, which utilizes lipids in adipose tissue and adipose cell application. Also, the growing demand for lipids from the food and beverage industry is fueling the demand for lipids, which is also benefiting the growth of the lipids industry during the projected forecast period.
In the starting months of the year 2020, there was a temporary impact on the production of pharmaceutical, food & beverage, and other such industries. The major economies of the world were under lockdown, this temporarily impacted the growth of the lipids market. For instance, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in March 2020, there was a small and temporary effect of Covid-19 pandemic on the pharmaceutical industry, However, during the second half of 2020, there was an upsurge in the production of pharmaceutical medicines, which resulted in the monetary benefit for the lipids market. Furthermore, in 2021, with ease of Covid-19 related restriction countries encouraged an increase in production-related activities to boost economic development, this accelerated the market growth. Also, with time Covid-19 pandemic will become the new normal and this will result in a lipids industry outlook similar to its pre-Covid time.
Lipids Market Segment Analysis – By Application
The drug delivery held a significant share in the lipids market in 2021 and is growing at a CAGR of 8.9% during 2022-2027. Lipid-based is widely utilized as a drug delivery system that aims to solve problems such as medication solubility and bioavailability. In addition, there has been an increase in steroid hormones lipid drug delivery technology is increasing to manage metabolism, inflammation, immunological functions, salt, and water balance. The increasing government initiatives for the production of pharmaceuticals are fueling the demand for lipids used as drug delivery, which is also propelling the market growth. For instance, the Department of Pharmaceuticals India proposed a PLI scheme in 2021 to promote local production by establishing greenfield facilities with minimal domestic value addition in four separate “Target Segments” with a total investment of Rs. 6,940 crore (US$ 951.27 million). Thus, the increasing application of lipids as drug delivery is accelerating the lipids market growth.
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Lipids Market Segment Analysis – By End-Use Industry
The healthcare and pharmaceutical industry held the largest share in the lipids market in 2021 and is growing at a CAGR of 12.4% during 2022-2027. Lipids are commonly used as the structural building material of all adipose cell membranes in the pharmaceutical industry. Furthermore, the growing use of bio-based coatings for medical device applications is generating a market opportunity for lipids. For instance, according to the Pharmaceutical Industry in Figures report published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), in the year 2019, there was a growth of 54.43% in the total pharmaceutical production in France, which was €35.85 billion (US$40.95billion). Moreover, according to the International Trade Administration, in 2019, the production of medical devices in Mexico was US$15.27 million, and in 2020, it was US$16.8 million, an increase of 10%. Hence, the growing pharmaceuticals and medical devices production across the world is fueling the demand for lipids, thereby, benefiting the growth of the market during the projected forecast period.
Lipids Market Segment Analysis – By Geography
Asia-Pacific held the largest share in the lipids market in 2021 up to 41%. The major economic growth of the Asia-Pacific region is driven by the growth of the healthcare & pharmaceuticals industry, food and beverage, and more such industries. The growth of these industry’s in the Asia-Pacific region is boosting the market growth. For instance, according to the 2021 Indian Economic Survey, the pharmaceutical market is projected to grow thrice in the coming years. Moreover, according to the data published by China Chain Store & Franchise Association, in 2018 food and beverage industry in China was valued at US$548.6 billion in 2018, and in 2019 it was valued at US$ 595 billion, an increase of 7.8% over 2018. Also, according to the International Trade Administration (ITA), total pharmaceutical equipment manufacturing in Thailand was US$3935 million in 2019, this was an increase of 1% when compared with 2018. Therefore, the growing pharmaceuticals, food & beverage, and more such industries in the Asia-Pacific region are propelling the growth of the lipids market.
Lipids Market Drivers
Growing Demand for Personal Care and Cosmetics Industry
The lipids are widely used in cosmetics designed to be applied on the skin to protect and improve the appearance of the body, to form a protective barrier on the skin, shielding it from dangerous exterior chemicals while also keeping it hydrated and smooth. The growing demand for the personal care and cosmetics industry is expected to boost the demand for lipids, which in turn is fueling the market growth. For instance, according to the statistics issued by the Cosmetic Toiletry & Perfumery Association (CTPA), in the year 2019, the sales of unisex fine fragrance at the global level were about €38.69 million (US$43.31 million), and in 2020 it was about €49.95 million (US$457.05 million), an increase of 29.1%. Moreover, the worldwide sales of Hair Colorants were about €294.43 million (US$329.61 million), and in 2020 it was €324.55 million (US$370.7 million), an increase of 10.2%. Hence, the growing demand for the personal care and cosmetics industry is expanding the demand for lipids, which in turn is driving the growth of the market.
Increasing Food and Beverage Production
In the food and beverage industry lipids are majorly utilized as a food nutrient supplement to exponentially enhance the nutrient value of the food. At the global level the food and beverage industry is expanding, which is fueling the demand for lipids, thereby further propelling the market growth. For instance, according to statistics issued by the Food and Drink Federation of the United Kingdom (FDF), total food and beverage products in the United Kingdom US$34.2 billion in 2019, a 3.6 percent rise when compared to 2018. Furthermore, according to data issued by the United States Department of Agriculture (USDA), total US dairy output grew to 19,414 (million ib) in 2020, up 3.02 percent from the previous year. Hence, the increasing food and beverage production at the global level is expanding the growth of the lipids market.
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Lipids Market Challenges
Health Risk Associated with Lipids
Although lipids are necessary for good health and the maintenance of human life, eating too many of them can increase the risk of liver and heart disease. An accumulation of low-density lipoprotein (LDL) can induce artery-clogging (atherosclerosis), which can result in a heart attack or stroke. High LDL levels can be prevented by controlling cholesterol and fat intake consumption and increasing HDL levels. Furthermore, saturated fats (a type of lipid) present in animal meats, butter, and full-fat dairy products can increase the chance of developing heart disease. These fats, when consumed in excess, raise bad cholesterol levels while decreasing good cholesterol levels. Hence, these health risks associated with lipids are restricting the growth of the market.
Lipids Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the lipids market. Major players of the lipids market are:
In November 2021, VAV Life Sciences, based in Mumbai, announced to increase its mRNA lipids manufacturing capacity by tenfold by June 2022. It will then account for 40% of the global capacity for m-RNA lipids, a key component in the production of mRNA vaccines and other mRNAs tech-based medicinal products that impart permeability and stability to the biologic product.
In May 2021, Corden Pharma and the Otto-von-Guericke-University in Magdeburg, Germany, collaborated to create a scalable pharma-grade cholesterol synthesis based on botanical sources. This allows for large-scale manufacturing of essential cholesterol, which is employed as part of the lipid cocktail for the assembly of mRNA-based vaccines.
In May 2021, Merck, a prominent scientific and technology corporation, has developed a novel synthetic lipid cholesterol product with exceptional purity for pharmaceutical use. These new developments related to lipids products will propel the market growth.
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Asia-Pacific region dominated the Lipids market, owing to the growing pharmaceutical production in the region. According to the International Trade Administration, in the year 2019, the total pharmaceutical production in Japan was US$84.6 million, an increase of 35.1% to 2018.
The increasing utilization of phospholipid molecules of fatty acids in the cosmetics industry is fueling market growth.
The rapid increase in the adoption of lipids in the nutrient supplement industry is creating an opportunity for the lipid market.
Moreover, the increasing research and development of lipids as pesticide adjuvants in the agriculture industry is accelerating the lipid industry growth.
A. Nutritional Lipids Market
B. Lipid Panel Test Market
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