Fish Oil Market to Attain Revenue of $3.138 Billion with Rising 5.81% CAGR By 2026johndsouzaind | June 14, 2019 | 0 | Food and Beverages
Global Fish Oil Market Analysis
According to Planet Market Reports, The Global Fish Oil Market was valued at USD 2.001 Billion in 2018 and is projected to reach USD 3.138 Billion by 2026, growing at a CAGR of 5.81% from 2019 to 2026.
What is Fish Oil?
The fat or oil that s extracted from fish tissues, usually from oily fish, such as herring, tuna, anchovies, and mackerel, is Fish Oil. Sometimes, it is produced from the livers of other fish, as is the case with cod liver oil. About 30% of fish oil is made up of omega-3s, whereas the remaining 70% is prepared from other fats. Vitamins that can be obtained from the consumption of fish oil are majorly vitamin A and D. The types of omega-3s found in fish oil are eicosapentaenoic acid EPA and docosahexaenoic acid DHA, while the omega-3 in plant sources is mainly alpha-linolenic acid ALA. The omega-3s that are found in fish oil usually have better health benefits than the ones found in some plant sources. The World Health Organization WHO recommends eating 1–2 portions of fish per week because the omega-3 fatty acids in fish provide many health benefits, including protection against a number of diseases. The major advantages of fishy oil are supporting heart health, eye health, bone health, treatment of certain types of mental disorders, nurturing healthy skin, in reducing liver fat and to improve attention and hyperactivity in children. Fish oil is also largely used as a feed ingredient in numerous nutritional applications for animals and humans, which include aquaculture feed, animal nutrition & pet feed, pharmaceuticals, supplements & functional food.
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Global Fish Oil Market Outlook
The high consumption of fish oil for its remedial properties health problems related to kidney, ocular and vision, cognitive impairment, and digestive issues, among others, is boosting demand globally. Rising consumer awareness about the benefits they get by the use of fish oil in overall health and skin is expected to expand demand. The growing implementation of aquafarming in developing countries like China, India, Bangladesh, Indonesia, and Thailand is expected to offer an opportunity to key market players during the forecast period.
However, the presence of substitutes like pork and beef along with high prices of fish oil is expected to restrain the market growth over the next few years. Moreover, government obligations regarding the fishing quota which has limits cause a demand-supply gap, resulting in hindrance the growth of the fish oil industry.
Global Fish Oil Market, Geographic Analysis
The Global Fish Oil Market is studied on the basis of key geographies Europe, North America, Asia Pacific and Rest of the World. North America region accounts for a major share in CRM Analytics Market, owing to the large volume of data generation and increasing awareness for customer retention.
APAC is expected to be the fastest growing in the CRM analytics market, owing to the emergence of small, medium enterprises, and competition among enterprises to retain valuable customers. Other factors, such as increasing industries of BFSI, telecommunications and IT, healthcare and life science, transportation and logistics, and others are fueling the growth of the market.
Global Fish Oil Market, Segment Analysis
The Global Fish Oil Market is segmented on the basis of Source type, Application, Process, and Geography. On the basis of Source type, the Global Fish Oil Market is classified into Salmon Oil, Tuna Oil, Cod Liver Oil, Anchovy Oil, Others.
Based on Application, the market is divided into Aquaculture, Animal Nutrition & Pet food, Pharmaceuticals, Supplements & Functional food and Others. On the basis of Process, the Global Fish Oil Market is classified into Crude, Refined, and Modified. Geographically, the market is analyzed across North America, Europe, Asia Pacific and Rest of the World.
By Source type, Anchovy is expected to grow at the highest rate and is considered as one of the most lucrative segments. This is because most of the fish oil produced in the market worldwide is derived from anchovies. Whereas by application, the Aquaculture holds the dominant position currently and is expected to grow at the highest CAGR during the forecast period. This is because of the rising human consumption of fish, which in turn is expected to boost aquaculture activities, and raising awareness among companies, involved in fish breeding, about the benefits of adding fish oil to aquafeed for better results is expected to push the market growth further over the forecast period.
Global Fish Oil Market, Competitive Landscape
The Global Fish Oil Market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include
Omega Protein Corporation,
Pesquera Diamante S.A,
Marvesa Holding N.V.,
FF Skagen A/S,
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