The global fish oil market size was USD 2,017.10 Million in 2021 and is expected to register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data.
Due to its many benefits, people are consuming fish oil at an increasing rate, which is a key component in the market's revenue growth. Fish oil lowers blood pressure and levels, lessens morning stiffness, and soothes achy joints in people. It also lowers the risk of heart disease. Fatty fish like mackerel, sardines, and anchovies are used to make fish oil. The oil is frequently present in a supplement, either as a liquid or in capsule form. Also beneficial for inflammatory conditions, fish oil supports pregnancy, healthy hair, and nursing, all of which are contributing to the market's revenue growth. Taking fish oil supplements throughout pregnancy and nursing improves the development of the baby's vision and reduces the likelihood that they may develop allergies.
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Major Companies:
American Seafoods Company LLC, Colpex International S.A.C, Croda International Plc, FMC Corporation, GC Rieber VivoMega AS, Omega Protein Corporation, Oceana Group Limited, The Scoular Company, FMC Corporation, and Sarma Fish SARL.
Some Key Highlights from the Report
· Aquaculture, animal feed, functional foods and drinks, nutritional supplements, medicines, and other applications make up the global fish oil market. Over the projection period, the aquaculture segment is anticipated to experience the highest rate of revenue growth. Due to its abundance in n-3 long-chain polyunsaturated fatty acids, particularly EPA and DHA acids, its balanced fatty acid composition, and its ability to induce a strong feeding response in aquatic animals, fish oil is commonly utilised in the preparation of aqua feed. Since fish oil includes certain fatty acids that aren't found in other fats and oils, all aquaculture species consume large amounts of it, which is what is causing the segment's revenue to grow.
· During the course of the projected period, the market in Asia Pacific is anticipated to contribute a reasonably sizable revenue share. Due to their high concentration of essential fatty acids like EPA and DHA, supplements for optimal health are becoming more and more popular among both humans and animals, which is fueling the market's expansion in terms of revenue. Additionally, it is used as a crucial component of aqua feed in aquaculture applications in nations like China, India, and Indonesia, which is boosting the regional market's revenue growth. Also, increased demand for fish oil in the cosmetics industry, where it is employed in goods like lotion and ointments, is propelling market revenue growth in this area.
· AAK, a provider of plant-based oils and fats, established a partnership with Progress Biotech on September 29, 2021, in order to provide DHA to the producer of infant formula. In fish oils, DHA, an omega-3 fatty acid, is usually present. It has a number of advantages that have been clinically proven, and it is a requirement in infant formula across the EU.
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The global Fish Oil market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Source Outlook (Revenue, USD Billion; 2019-2030)
- Salmon
- Cod
- Anchovy
- Tuna
- Mackerel
- Sardines
- Herring
- Others
Form Outlook (Revenue, USD Billion; 2019-2030)
- Liquid
- Capsule
- Pill
Application Outlook (Revenue, USD Billion; 2019-2030)
- Aquaculture
- Animal Feed
- Functional Food & Beverages
- Dietary Supplements
- Pharmaceuticals
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online Retail
- Supermarkets & Hypermarkets
- Specialty Stores
- Others
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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