Crystal Market Research has announced the addition of the “Fish Oil Market Growth, Trends and Forecast, 2018-2025” report to their offering.
Fish Oil Market – Competitive outlook and Trend Analysis:
The market is fairly saturated with key market players involved in constant product improvement and R&D. The Key industry players are; COPEINCA ASA, Croda Inc., EPAX AS, GC Rieber Oils, Omega Protein, Corpesca S.A, American Marine Ingredients and Colpex International. In May 2014, American Marine Ingredients launched distillation method formulated for the production of omega-3 fish oils by the University of Alaska. Following to that, Enzymotec Ltd. introduced finest fish oil based produce, Omega PC. It is a wild and frozen fish extract comprising omega 3 fatty acids.
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Fish Oil Market – Industry Trend Analysis:
The global Fish Oil Market was valued around USD 3.06 billion in 2016 and is expected to reach roughly USD 4.90 billion by the end of 2025 while registering itself at a compound annual growth rate (CAGR) of 5.39% during the forecast period, due to growing aquaculture activities. Increasing customer awareness about health benefits of omega 3 is projected to drive fish oil demand during the forecast years. Rising demand for hydrogenated vegetable margarine and oils on account of altering eating habits is likely to reproduce industry growth. Additionally, rising product utilization in lubricants and defensive coatings is anticipated to boost growth. Consumption of EPA/DHA aids in cutting down bad cholesterol, blood pressure, and coronary heart problems involving strokes, which is likely to propel market growth. Escalating occurrence of heart diseases amongst people owing to unhealthy routine will encourage demand over the forecast years. Moreover, growing use of fish oil as an essential ingredient in beauty products, as creams and in all-purpose ointments is anticipated to encourage market growth. Increasing aquaculture activities, mostly in India and China, due to favorable weather conditions and plentiful availability of agricultural land is likely to boost demand for feeds containing fish oil. Growing consumption of omega-3 due to its several health benefits is predicted to stimulate the growth of the global market. However, elevated cost of the product together with a huge demand-supply gap is likely to restrain the growth of the global market over the next few years.
Fish Oil Market – Market Opportunities and Trend Analysis:
Escalating health approvals by different agencies involving The American Dietetic Association, EU, EFSA (European Food Safety Authority), and The Food and Drug Administration (FDA) alongside regulatory support to encourage fishing business is expected impact the global market positively. Growing R&D funding along with technological advancements to use the component in the medical sector will open new market avenues in the near future.
The fish oil market is segmented as follows –
Fish Oil Market – By Source Species:
Other Source Species
Fish Oil Market – By Application: Aquaculture, Salmon & Trout, Marine fish, Crustaceans, Tilapias, Eles, Cyprinids, Other Aquaculture, Animal Nutrition & Pet food, Pharmaceuticals, Supplements & Functional food, Other Application
Fish Oil Market – Application outlook and Trend Analysis:
In 2014, aquaculture was the major segment evaluated at USD 1.97 billion and is anticipated to demonstrate substantial growth during the forecast years as a result of increasing significance of reproduction and regular stockpiling for improving fish production. Additionally, growing production of salmon along with positive market view on China’s aquaculture due to inexpensive labor as well as application expansion is likely to fuel market growth. Trout & salmon described for 57.7% of the international aquaculture market share in the year 2014 and will experience growth in illumination of the healthy farming land of salmon fish in Chile and Norway. Rising significance of salmon fish for human consumption owing to strengthening heart & muscle and enhancing metabolism purposes is anticipated to propel aqua-feed demand comprising fish oil in the coming years. Demand for human consumption is likely to witness rapid expansion as a result of rising consumption of functional foods and supplements. Increasing customer awareness concerning the elevated protein content as well as health benefits like dropping levels of cholesterol is projected to fuel the growth of the global fish oil market.
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Fish Oil Market – By Region:
North America – U.S, Canada, Mexico
Europe – Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific – Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World – Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Fish Oil Market – Regional outlook and Trend Analysis:
In 2014, European fish oil industry was esteemed at USD 690 million. This region is likely to experience growth owing to expanding aquaculture activities in UK and Norway. Moreover, in 2014, the European Commission approved the Strategic Guidelines and Common Fisheries Policy Reform, which is likely to encourage aquaculture segment in the European region. North American region reported for around 7.5% share of the overall market volume and is forecasted to experience prominent growth over next few years due to rising awareness of dietary benefits of foods that contain fish oil in the United States, However, elevated red meat consumption in the United States and Mexico because of their high content of protein is likely to hamper the growth of the industry over the following years. Asia Pacific region is estimated to witness extensive augment at a compound annual growth rate of 2.4%, concerning volume, as a result of increasing aquaculture segment primarily in India, China, Bangladesh, Thailand, and Indonesia. Furthermore, increasing awareness towards healthy and nutritional diet in developing countries like India and China is likely to boost demand for nutritional supplements and consequently the global fish oil market.
Fish Oil Market – Table of Contents:
- Executive Summary
- Market Overview
- Fish Oil Market, By Source Species
- Fish Oil Market, By Application
- Fish Oil Market, By Region
- Company Profiles
Key findings of the Fish Oil Market –
- The global fish oil market was esteemed approximately USD 3.06 billion in 2016 and is projected to reach around USD 4.90 billion by the end of 2025 while registering a compound annual growth rate (CAGR) of 5.39% from 2016 to 2025.
- Human consumption described for over 9% of the total global revenue in 2014 and is anticipated to show major growth over forecast years as a result of high demand for supplements &functional foods in Japan, China, and India.
- Increasing long chain-omega consumption to prevent various health troubles including asthma, cardiovascular, Crohn’s disease, eczema, and psoriasis will boost intake over the forecast years. Also, rising consumption of fish oil as it assists brain health and neurological development in children is likely to create huge market potential in the coming years.
- Asia Pacific demand is expected to demonstrate significant gains in plentiful fishing farm land and expansion of the food & beverage sector. Moreover, increasing use of omega 3 in infants’ formulas largely in India and China will boost market expansion.
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