(MENAFN – GetNews) According to a new report available at Million Insights, the report provides the global Fish Oil Industry with in-depth analysis of the global market size, regional and regional market size, the competitive landscape, the impact of domestic market players, and value chain optimization. The fish oil market is divided by types, manufacturers, applications, and regions.
The globe Fish oil market The size is expected to be worth $ 4.08 billion by 2022. The market will see significant growth due to growing aquaculture activities around the world. The increasing health awareness of the population and the growing awareness of the health benefits of omega-3 fatty acids are seen as one of the most important factors driving the growth of the fish oil industry over the forecast period.
In addition, the increasing demand for hydrogenated vegetable oils and margarine combined with different dietary habits among young people is expected to stimulate market demand for the market in the coming years. Globally, the fish oil market is expected to grow by 8.72% over the forecast period, which gives market participants numerous opportunities to invest in research and development in the market.
Additionally, increasing demand for protective coatings and lubricants is expected to drive market growth over the forecast period. Numerous health benefits associated with consuming fish oil due to the presence of omega-3 fatty acids are likely to drive market expansion in the years to come.
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Additionally, the presence of icosapentaenoic acid and docosahexaenoic acid (DHA & EPA) in recent years has helped limit high blood pressure and cholesterol and reduce the risk of coronary heart disease such as stroke, fueling the growth of the fish oil industry. The increasing incidence of heart disease due to changing eating habits and unhealthy diets in the general population is expected to stimulate demand for fish oil in the forecast period as well. The growing demand for fish oil used in the manufacture of various cosmetic products and skin care products such as emollients and ointments is expected to drive market growth in the near future.
The rise of the aquaculture sector coupled with technological advances in the agricultural sector, particularly in developing countries such as China and India, is likely to drive market expansion in the coming years. In addition, factors such as favorable atmospheric conditions and the plentiful availability of farmland in the Asia-Pacific region continue to drive market growth. The growing demand for omega-3 dietary supplements from the functional food industry due to their numerous health benefits is likely to fuel market demand for fish oil over the forecast period.
The high cost of fish oil and the unavailability of market prices, creating a huge gap between supply and demand, are likely to limit market growth to some extent in the years to come. Increasing research and development activities as well as technological advances in aquaculture are expected to stimulate market growth over the next seven years.
Aquaculture is considered to be one of the fastest growing segments in the fish oil market with significant revenues in recent years. The growing popularity of the aquaculture market segment is attributed to increasing breeding and regular stocks to improve overall production. The salmon and trout market, which is part of aquaculture, also saw significant growth due to the robust agricultural base of salmon fish in European countries such as Norway and Chile.
The fish oil industry is divided into regions such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America has seen strong growth in recent years as the latest techniques become more widespread, awareness of the nutritional benefits of fish oil is raised, and well-established agricultural infrastructure is in place. The Asia-Pacific region is expected to hold a large share of the fish oil market and grow massively over the forecast period.
Countries like China, India, Indonesia, Thailand and Bangladesh are leading the Asia-Pacific market with growing health awareness among the population, a shift in trend awareness towards food nutrition, a growing aquaculture sector and significant investments from industry leaders considering potential growth opportunities pull in the region.
The main players in the fish oil industry are Croda Incorporations, COPEINCA ASA, EPAX AS, Omega Protein Co., GC Rieber Oils AS, Colpex International SAC, American Marine Ingredients LLC, Enzymotec Ltd. and Corpesca SA
Click the link below to browse the report summary and detailed table of contents:
Global Outlook for Fish Oil Applications (Volume, Kilotons; Revenue, Million USD, 2012-2022)
• Aquaculture by by-products
• Salmon trout
• marine fish
• Direct human consumption
Global Regional Outlook for Fish Oil (Volume, Kilotons; Revenue, Million USD, 2012-2022)
• North America
• Asia Pacific
• Latin America
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