Fish oil has numerous health benefits since it contains very effective nutrients and important omega 3 fatty acids that have a positive effect on your inflammatory response. Their consumption helps to reduce the cardiovascular disorders and other chronic diseases. Therefore, growing awareness regarding health benefits of fish oil among consumer is increasing their demand. Also, increasing use of a product as the ingredient in cosmetic products and ointments is expected to fuel the industry expansion. Rising aquaculture activities across worldwide owing lack of land are further boosting the market growth.
As per the latest report added by Value Market Research, the Global Fish Oil Market was valued at USD 2.5 BN (by revenue) in 2017 and is anticipated to reach USD 3.3 BN by 2024 with a CAGR of 4.8%.
Anchovy Is A Highly Preferred Source Species For Fish Oil
Anchovy dominated with X.X% share in 2017 since the fish oil which is derived from Anchovy is the most popular dietary supplements in the world. They have shown to improve the heart and brain health. Thus, raising awareness regarding health benefits of fish oil derived from Anchovy is driving their demand.
Aquaculture Accounted For The Largest Application Area
Aquaculture accounts for X.X% share in 2017 and is projected to show substantial growth over the forecast period. Rising importance of breeding and regular stocking in order to enhance fish production. Also, growing aquaculture production in emerging economies such as India and China is boosting the segment growth.
Europe Held The Highest Share In The Global Fish Oil Market
Europe dominated with over 35% share in 2017. Europe is expected to gain growth on account of growing aquaculture activities in the UK along with the policy reformed by European Commission for Common Fisheries is further expected to expand the aquaculture sector in this region.
Major Players Profiled In The Report
Colpex international, Copeinca AS, Corpesca SA, FF Skagen A/S, FMC Corporation, Marvesa Holding N.V., Omega Protein Corporation, Pesquera Diamante S.A, Pesquera Exalmar, TASA, and TripleNine.
As per this study the Global Fish Oil Market was valued at USD 3.31 BN (by revenue) in 2022 and is anticipated to reach USD 5.24 BN by 2030 with a CAGR of 6.79%.
Fish oil is basically a healthy source of fats i.e. omega-3 fatty acids. Fish oil can be categorized into fish liver oil (derived from the liver of the cod, shark or halibut) and fish body oil (which is mainly derived from the flesh of the herring, sardine or anchovy) and contain vitamin E. Apart from vitamin E Fish liver oil also contains vitamin A and vitamin D which are essential nutrients for human and animal. They are used as a supplement ingredient in various human and animal nutritional application.
Market Dynamics
Growing demand for fish oil among consumer owing to its varied health benefits is likely to have its long-lasting impact on the global fish oil market. Moreover, rising consumption of fish among human is also serving as a key driver for the market. Further, rising aquaculture activities in emerging economies are expected to drive demand for feeds consisting of fish oil, thereby boosting the market growth. Further, the indirect consumption of fish oil is expected to propel the industry growth in the years to come. On the flip side, increasing the price of the fish oil is the major factor which can act as a restraint for the market.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of fish oil.
Market Segmentation
The broad fish oil market has been sub-grouped into source species and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Species
- Tuna
- Cod Liver
- Salmon
- Anchovy
- Menhaden
- Others
By Application
- Aquaculture Feed
- Animal Feed
- Functional Food
- Dietary Supplements
- Pharmaceuticals
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for fish oil in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Fish Oil Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Fish Oil market include Croda International PLC., BASF SE, DSM, FMC Corporation, Omega Protein Corporation, Copeinca ASA, American Marine Ingredients, Pelagia AS, TripleNine Group, Blueline Foods Pvt. Ltd., Sarma Fish SARL, GC Rieber Oils. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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