Thu, 21 Oct 2021

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.

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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.

The increasing need for hydrogenated vegetable oils and margarine together with changing food patterns among people of the young generation are likely to drive market demand in the upcoming years.

Key participants include TripleNine Group, Oceana Group Limited, Pesquera Diamante, The Scoular Company, FMC Corporation, GC Rieber Oils, Croda Inc., Omega Protein Corporation, Marvesa holding N.V., and Corpesca S.A. among others.

For the purpose of this report, Reports and Data have segmented global fish oil market on the basis of species, application, distribution channel, and region:

Source Insights (Volume, Kilo Tons, Revenue, USD Million; 2018-2028)

Salmon

Cod

Anchovy

Tuna

Mackerel

Sardines

Herring

Others

Application (Volume, Kilo Tons, Revenue, USD Million; 2018-2028)

Aquaculture

Animal Feed

Functional Food & Beverages

Dietary Supplements

Pharmaceuticals

Others

Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2018-2028)

Store Based

Supermarkets

Hypermarkets

Specialty Stores

Others

Non-store Based

Regional Outlook (Volume, Kilo Tons, Revenue, USD Million; 2018-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Further key findings from the report suggest

Aquaculture contributed to the largest market share in 2018 with a revenue of USD 1.84 Billion and is projected to have a growth rate of 6.3% in the forecast period. This market dominance can be attributed to the rising significance of breeding and regular stocking for improving fish production output. Further, an increase in aquaculture production of salmon along with positive industry outlook on aquaculture in China due to cheap labor and application growth is anticipated to fuel market growth.

Store-based distributional channel occupied the largest market share in 2018 and is expected to continue its dominance in the forecast period with a growth rate of 6.3%.

Asia Pacific is projected to experience a significant growth at a CAGR of 6.3%, in terms of revenue, from 2019-2028 owing to the growth of aquaculture sector from countries such as China, India, Thailand, Indonesia, and Bangladesh. Besides, growing awareness for nutritional diet in emerging countries of China and India is expected to fuel demand for dietary supplements.

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Key Highlights in the Report:

Provides a detailed overview of market growth and patterns for the years 2021-2028, including key market parameters.

It provides useful information about the global Fish Oil industry, including market forecasts and sales growth rates.

Technical advances, regulatory environment, recent innovations, and existing and emerging trends in the Athleisure market are all covered in this report.

Comprehensive industry analysis, including key statistical data and market knowledge gleaned from primary and secondary research.

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About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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