Global Fish Oil Market is estimated to reach $2,364 million by 2024; growing at a CAGR of 5.6% from 2016 to 2024. Fish oil is derived from tissues of oily fish species and contains essential nutrients for human and animals. It is an enormous source of omega-3 fatty acids and can be consumed as general health supplement. Human consumption, Aquaculture, and industrial sector are some of the major application areas of fish oil. Rising concern of chronic diseases among consumers has increased the acceptance of fish oil in various health supplements and functional food. Increased awareness regarding health benefits of omega-3 fatty acids, pose a huge demand for fish oil in the global market.
Rise in consumer awareness regarding health benefits of omega-3, augmented aquaculture activities, and increased direct consumption of fish oil are the major factors driving the global fish oil market. Moreover, increased use of fish oil as an ingredient in cosmetic products has also propelled the growth of the market. However, high cost of fish oil coupled with large demand-supply gap would restrain the market growth in the coming years. Regulatory support from various agencies such as, The Food and Drug Administration (FDA) and European Food Safety Authority (EFSA) would provide several growth opportunities in the market during the forecast period.
The global fish oil market is segmented into species and application. By species, the market is segmented into marine fish, tilapias, carps, salmon and trout, and others (Includes eels, herrings, and mackerels). By application, the market is further divided into aquaculture, direct human consumption, and others (Includes industrial uses and hydrogenation).
By species, salmon and trout accounted for the largest market share in 2016, owing to its increased direct human consumption to improve metabolism and strengthen muscle & heart. By application, the aquaculture segment accounted for more than half of the total market share in 2016, owing to rise in importance of breeding and regular stocking for enhancing fish production output.
Based on geography, the global fish oil market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers Germany, UK, France, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the fish oil market are Croda Inc., EPAX AS, Omega Protein Corporation, Colpex, COPEINCA ASA, TASA, Copeinca AS, Corpesca SA, FMC Corporation, and Pesquera Diamante S.A, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Fish Oil Market with respect to major segments such as species, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Fish Oil Market has been included in the report
- Profile of the key players in the Fish Oil Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Fish Oil Market
- Marine Fish
- Salmon and Trout
- Others (Includes Eels, Mackerels, Herrings)
- Direct Human Consumption
- Others (Includes Hydrogenation and Industrial use)
- North America
- South America
- Middle East