WASHINGTON, April 04, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research published a report, titled, "Fish Oil Market Size, Share & Trends Analysis Report by Source (Anchoveta, Sardine, Capelin, Menhaden), by Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online Stores, Others), by End Use (Aquaculture, Animal Feed, Nutritional Supplements, Pharmaceutical), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". According to the report, the global Fish Oil industry generated USD 11,984.91 Million in 2021, and is anticipated to generate USD 17,487.62 Million by 2028, witnessing a CAGR of 6.5% from 2022 to 2028.
Synopsis:
The Fish Oil Market is expected to witness the highest growth during the forecast period owing to the rising demand for Fish Oil Market by the older population with the considerable growth of the aquaculture industry. Fish Oil Market offers multiple health benefits as it contains omega-3 fatty acids such as EPA (Eicosapentaenoic acid) which makes the functioning of the cardiovascular system better, and DHA (Docosahexaenoic acid) which plays an important role in the effective functioning of the nervous system and this has effectively increased the demand for Fish Oil Market during the forecast period. Moreover, omega-3 fatty acids are actively used in the aquaculture segments like animal nutrition and pet feed, pharmaceuticals, supplements, and functional foods which are expected to boost the demand of the Fish Oil Market during the forecast period. Besides, the rising awareness among the public and medical specialists about the importance of omega-3 fatty acids has substantial increase in the consumption of Fish Oil Market during the forecast period. Moreover, Fish Oil Market provides numerous health benefits such as it decreases the risk of deaths due to heart attack, lower triglycerides, dangerous abnormal heart rhythms, and stroke which is expected to increase Fish Oil Market demand in the upcoming years. Nowadays companies are enhancing their nutraceutical products along with concentrated EPA and DHA, and the rising demand for EPA and DHA in human nutrition has made a positive impact on the Fish Oil Market during the forecast period. Furthermore, with the increasing demand for Fish Oil Market and the developing aquaculture industry, the production of Fish Oil Market globally is very stagnant.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Fish Oil market is predicted to grow at a CAGR of roughly 6.5% during the forecast period.
- The Fish Oil market was estimated to be worth roughly USD 11,984.91 Million in 2021 and is expected to reach USD 17,487.62 Million by 2028; based on primary research.
- On the basis of region, Europe is projected to dominate the worldwide Fish Oil market.
List of Prominent Players in the Fish Oil Market:
- China Fishery Group Limited
- Corporación Pesquera Inca S.A.C. (Copeinca AS)
- Camanchaca
- FF Skagen A/S
- Foodcorp Chile S.A (Austevoll Seafood ASA)
- OLVEA Fish Oils (OLVEA)
- Oceana Group Limited
- Pesquera Diamante S.A.
- Pioneer Fishing and Triple Nine Fish Protein A/S (Triple Nine Group)
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Fish Oil Market is Segmented as Follows:
- Source
- Anchoveta
- Sardine
- Capelin
- Menhaden
- Herring
- Anchovy
- Others
- Distribution Channel
- Hypermarkets and Supermarkets
- Specialty Stores
- Online Stores
- Others
- End Use
- Aquaculture
- Animal Feed
- Nutritional Supplements
- Pharmaceutical
- Others
Market Dynamics:
Drivers:
An increase in health awareness among the public, and the substantial growth in the aquaculture industry are the major factors driving the growth of the Fish Oil Market during the forecast period. The rising demand for Fish Oil Market among the rapidly aging population is also one of the major factors projected to increase the growth of the market in the years to come.
Challenges:
High prices of Fish Oil Market, united with a high demand-supply gap in the Fish Oil Market are expected to limit the growth of the market during the forecast period. The rising of Fish Oil Market consumption by aquaculture may lead to Fish Oil Market shortage for other applications like, pharmaceuticals, and dietary supplements are the factors affecting the growth of the market negatively.
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Regional Trends:
North America is projected to grow at the highest CAGR during the forecast period. The United States and Canada produce Fish Oil Market on a large scale and also consumption of Fish Oil Market is high in the North American region which is boosting the demand for Fish Oil Market in the North American region. Likewise, the government of these nations endorses the intake of essential omega-3 fatty acids such as DHA and EPA which is expected to drive the growth of the Fish Oil Market during the forecast period. Moreover, the demand for Fish Oil Market in North America in various sectors like pharmaceuticals, functional food applications, and supplements is increasing the demand for Fish Oil Market and eventually responsible for the growth of this region.
Asia Pacific region is projected to dominate the Fish Oil Market during the forecast period. The increasing aging population united rising health concerns and awareness among the general public have increased the consumption of dietary supplements within the Asia Pacific region during the forecast period. Moreover, China is primarily focusing on high-quality pharma-grade Fish Oil Market in order to increase its demand for more applications in the pharmaceutical industry. Furthermore, according to the United Nations Statistical Office, Fish Oil Market export in Japan has significantly increased.
Recent Developments:
- In April 2020, Alas Omega has introduced Omega 3 concentrated natural Fish Oil Markets for integrating high levels of omega-3 into different applications, such as meal replacement powders, dairy products, energy bars, vitamin blends, and other functional foods and beverages.
- In March 2020, Wiley Companies has launched omega 3 concentrate Fish Oil Market that offers a minimum of 200mg docosahexaenoic acids (DHA) and eicosatetraenoic acids (EPA). The product has been planned for use in food and beverages and dietary supplements.
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The report on the Fish Oil Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Fish Oil Market?
- How will the Fish Oil Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Fish Oil Market?
- What is the Fish Oil market drivers and restrictions?
- What will be the CAGR and size of the Fish Oil Market throughout the forecast period?
This market titled “Fish Oil Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 11,984.91 Million |
| Projected Market Size in 2028 | USD 17,487.62 Million |
| CAGR Growth Rate | CAGR of 6.5% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Source ° Anchoveta ° Sardine ° Capelin ° Menhaden ° Herring ° Anchovy ° Others • Distribution Channel ° Hypermarkets and Supermarkets ° Specialty Stores ° Online Stores ° Others • End Use ° Aquaculture ° Salmon and Trout ° Marine Fish ° Crustaceans ° Tilapias ° Others ° Animal Feed ° Nutritional Supplements ° Pharmaceutical ° Others |
| Region & Counties Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC Countries ° South Africa ° Rest Of Middle East & Africa |
| Companies Covered | • China Fishery Group Limited • Corporación Pesquera Inca S.A.C. (Copeinca AS) • Camanchaca • FF Skagen A/S • Food corp Chile S.A (Austevoll Seafood ASA) • OLVEA Fish Oils (OLVEA) • Oceana Group Limited • Pesquera Diamante S.A. • Pioneer Fishing and Triple Nine Fish Protein A/S (Triple Nine Group) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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