According to a new market report published by Credence Research “Fish oil Market by application, Aquaculture, Animal Nutrition & Pet Food, Pharmaceuticals, Supplements and Others (Functional Food, etc.); by source, fresh water fish and marine fish; by geography, North America, Europe, Asia Pacific, Latin America and Middle East and Africa – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the worldwide market for fish oil is anticipated to achieve more than US$ 3.69 billion by 2025, increasing to CAGR by 5.8 per cent from 2017 to 2025.
The global market for fish oil was valued at US$ 2.22 billion in 2016. Growing demand for aquaculture and animal nutrition and pet food is expected to stay the main determinant of developments in the worldwide market for fish oil in the near future. Increased incidence of heart disease among customers due to poor lifestyles will boost demand for fish oil over the forecast period. In addition, fish oil is also used as an ingredient in cosmetic goods, emollients and ointments in particular.
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China is a dominant player in the fish oil industry due to favourable climatic circumstances and the abundant accessibility of agricultural land. China is also the biggest exporter of fish oil in the world. The main driver of China’s growing manufacturing of fish oil is primarily owing to the greatest concentration of the aquaculture sector in the region. Overall consumption of fish oil is anticipated to boost in Western Europe in the future. Rising concern for chronic diseases leads to the acceptance of omega-3 fish oil in countries such as the United States, Japan and Western Europe.
Growing demand for fish oil from different end use sectors has compelled the producers to concentrate on increase in production. American Marine Ingredients, Colpex, Copeinca ASA, Corpesca S.A., Croda Inc., FF Skagen A/S, FMC Corporation, GC Rieber Oils, Marvesa Holding N.V., Nutrifynn Caps, Inc., Omega Protein and Pesquera Diamante S.A. are few key manufacturers in the global fish oil market.
- Growing global aquaculture industry
- Rising concern of chronic diseases among consumers
- Leading fish oil companies focusing on acquisition and product diversification
- Asia Pacific is expected to register the highest growth rate
- Large demand-supply gap are expected to restrain market
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Report Scope by Segments
- Marine Fish
- Freshwater Fish
By Application Type
- Animal Nutrition & Pet Food
- Others (Functional Food, etc.)
By Geography Segment
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America