The global fish oil market is expected to reach USD 5.42 Billion by 2028, according to a new report by Reports and Data. Fish oil is essentially used as a feed item in several animals and human nutritional uses, which comprise aquaculture feed, animal pet feed, pharmaceuticals, dietary supplements, and functional food. Fish oil is the key ingredient in the growth of the aquaculture industry across the globe and it is a crucial factor for the growth of the fish oil market. Government regulations that limit the fishing quota create a gap between demand and supply, which mostly affects the market demand for fish oil. An increase in the production of fish oil from by-products and fostering prospects with third party suppliers could otherwise aid in mitigating this threat and in reducing the demand-supply gap.
An increase in consumer awareness about the health benefits of omega-3 fatty acids is anticipated to fuel the growth of the global fish oil market in the forecast period. Moreover, an increase in product consumption in protective coatings and lubricants would further drive the fish oil market growth in the forecast period. Additionally, high consumption of EPA/DHA omega-3 fatty acids aids in lowering blood pressure and bad cholesterol and mitigating the risk of coronary heart disease (CHD), such as strokes. These health benefits are likely to drive the growth of the fish oil market globally.
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Increasing investments in research and development activities, rising disposable income and, increasing adoption of organic food and plant based products are other factors fueling growth of global Fish Oil market. North America is expected to account for largest revenue share between 2021 and 2028 owing to factors such as increasing adoption veganism, rising preference for probiotic drinks and healthy drinks, high consumption of packaged food and bottled water.
Some major players in the market include:
- Triple Nine Group,
- Ocean Group Limited,
- Pesquera Diamante,
- The Scoular Company,
- FMC Corporation,
- GC Rieber Oils,
- Croda Inc.,
- Omega Protein Corporation,
- Marvesa Holding NV,
- Corpesca S.A.
Based on applications, the application 2 segment is expected to register rapid revenue growth over the forecast period owing to rising demand for packaged food, and high preference for take away and home delivery options.
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In addition, increasing funds for research and development activities and increasing focus on developing sustainable and eco-friendly products to fulfill consumer demand supporting market growth.
Regional Analysis covers:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- K.
- Rest of EU
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- A.E
- Rest of MEA
By Source
- Herring
- Tuna
- Anchovies
- Mackerel
- Salmon
- Sardines
- Others
By Application
- Aquaculture
- Crustaceans
- Salmon Trout
- Cyprinids
- Marine fish
- Eles
- Tilapias
- Others
- Animal Nutrition Pet food
- Supplements Functional Food
- Pharmaceuticals
- Cosmetic Therapeutic
- Others
By Form
- Liquid
- Capsule
- Pill
By Distribution Channel
- Offline
- Supermarkets
- Hypermarkets
- Specialty Stores
- Others
- Online
Key questions addressed in the Report:
- Which key players are operating in the global Fish Oil market?
- Which key factors are expected to hamper global market revenue growth?
- What market size is the global Fish Oil market expected to reach throughout the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2028?
- Which region is expected to account for robust revenue share throughout the forecast period?
- Which regional segment is expected to register fastest revenue CAGR throughout the forecast period?
- What revenue CGAR is the global Fish Oil market expected to register during the forecast period?
- What are the key outcomes of Porter’s Five Force analysis of the Fish Oil market?
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