Rising concern of chronic diseases, Government support, and increasing health concern propels the demand for fish oil market globally
Published | March 2019
Fish oil is a virtually unique source of omega-3 fatty acids - EPA, DPA, and DHA. It comes from fatty fish, specifically the tissue of fatty fish like trout, mackerel, tuna, herring, sardines, and salmon. Fish oil is extensively adopted in several human and animal nutrition applications as a food and feed supplement. The health benefits such as lowering blood pressure and bad cholesterol and reducing the risk of coronary heart disease (CHD) are the key factor propelling the global market growth. Owing to increasing aquaculture activities, rising health consciousness among the population and growing awareness associated with health advantages of omega 3 fatty acid are considered as one of the prominent factors nurturing the growth of fish oil industry throughout the forecast period.
The leading corporations in the fish oil market are mainly focusing on acquisition and product diversification to maintain competitiveness. For instance, Omega Protein Corporation, recently acquired Bioriginal Food & Science Corp., a leading supplier of plant and marine-based specialty oils and essential fatty acids in the food and nutraceutical industries. This acquisition empowers Omega Protein Corporation to diversify its fish oil offerings in the human nutrition product segments and enhance its consumer reach.
Furthermore, high consumption of DHA/EPA helps in lowering blood pressure and bad cholesterol and reducing the risk of coronary heart disease (CHD), such as strokes. Growing occurrence of heart-related disorders based on changing food patterns and unhealthy diet among the general population are anticipated boost demand for fish oil over the forecast period as well.
Among Species, Anchovy accounts for the largest market size in the global fish oil market during the forecast period.
Anchovy is a good source of calcium and particularly of the trace mineral selenium, a powerful antioxidant that is naturally scarce in many parts of the world. Anchovy species is the leading segment in the overall fish oil market and estimated to lead the market over the forecast period. Owing to the highest concentrations of EHA and DHA polyunsaturated fatty acids of any fish species. The anchovy is well known for its ability to lower levels of triglycerides and cholesterol in the blood. Anchovies are a good source of omega-3 fatty acids, protein, and important vitamins and minerals. The rise in perceived health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, is also driving the market.
Regional Insights- Denmark leads the global fish oil market
Europe is the leading region of the overall fish oil market during the forecast period 2019-2025 followed by. Owing to the large-scale salmon and trout farming. Chile, Denmark, and Peru have the largest fish oil production in the European countries and account for more than 50% share of the market. Further, the European Commission approved the Strategic Guidelines and Common Fisheries Policy Reform in 2014, which is constantly supporting the aquaculture segment in this region. The Asia Pacific region is expected to show substantial growth over the forecast period due to plentiful fishing and farming and growing food and beverage industry in the region. China is expected to become a dominant producer of fish in the coming years owing to the growing aquaculture industry in the region. The MEA and Latin American regions are projected to have healthy growth throughout the forecast period. Growing awareness regarding the advantages of fish oil has led to a change in people’s eating habits.
Global Fish Oil Market Competitive Landscape
Companies such as Omega Protein Corporation, FMC Corporation, Copeinca ASA, Corpesca S.A., Colpex International, TripleNine Group A/S, FF Skagen A/S, Pesquera Diamante S.A., Marvesa Holding N.V, V, TASA, American Marine Ingredients, Croda Inc., GC Rieber Oils, Epax ASare the leading player in global fish oil market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global fish oil Market size & forecast. The report promises to provide state-of-the-art technology of fish oil and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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