Fish Oil Market by Types (Anchovy, Mackerel, Sardines, Cod, Herring, Menhaden, and Others) and (Aquaculture, Animal Nutrition and Food, Pharmaceuticals, Dietary Supplements and Functional Foods, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027 “. According to the report, Lag the global fish oil industry at $ 1.91 billion in 2019 and is projected to reach $ 2.84 billion by 2027, a CAGR of 5.8% from 2021 to 2027.
The substantial growth of the aquaculture industry and increasing health awareness have fueled the growth of the global fish oil market. On the contrary, adverse climatic conditions, demand-supply gaps and strict government regulations impede market growth. However, the rapidly aging connectivity of the population and production from by-products are expected to open a number of opportunities for market participants in the near future.
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- Fish oil supplements are prescribed for patients with Covid-19 because there is solid evidence that this can be beneficial for the course of sepsis.
- However, the labor shortage and disrupted supply chain have resulted in a shortage of fish oil supplements.
By species, the anchovy segment had the largest share in 2019, accounting for more than two-fifths of the global fish oil market. This is due to the high concentration of EPA and DHA in anchovy fish oils and the increasing use of anchovy fish oil in the pharmaceutical industry. However, the mackerel segment is expected to have the highest CAGR of 10.3% over the forecast period as its use in pharmaceutical application increases due to the high concentration of omega-3 fatty acids.
When applied, the aquaculture segment is expected to have the highest CAGR of 8.9% over the forecast period as fish oil is primarily fed to species such as salmon and trout. However, the food segment held the largest share and contributed more than two-fifths of the global fish oil market due to the increased consumption of fish oil additives to reduce the risk of heart and blood problems. in addition,
By region, the global fish oil market in North America had the largest CAGR of 8.6% from 2021 to 2027, driven by US government initiatives to raise awareness of omega-3 fatty acid consumption to avoid health risks. However, the Asia Pacific market is expected to have the highest CAGR of 5.1% over the forecast period, due to the surge in the aquaculture industry and increased consumption of fish oil as an aquafeed ingredient in Japan, China and India.
Key players in the report include Omega Protein Corporation, Copeinca AS, FMC Corporation, Colpex International, Corpesca SA, FF Skagen A / S, TripleNine Group A / S, Marvesa Holding NV, Pesquera Diamante SA and the PesqueraExalmar
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