Fish Oil Market Is Projected To Be Around $4.90 Billion By 2025
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A research study titled, “Fish Oil Market by Products, Application - Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the fish oil market is projected to be around $4.90 billion by 2025.
The global fish oil market was esteemed approximately USD 3.06 billion in 2016 and is anticipated to reach around USD 4.90 billion by 2025 with compound annual growth rate (CAGR) of 5.39% over the forecast period. Fish oil is oil extracted from the oily tissues of fish. Fish oils comprise the docosahexaenoic acid (DHA), omega-3 fatty acids, and eicosapentaenoic acid (EPA) predecessors of few eicosanoids that are recognized to decrease inflammation in the human body, and have other health benefits, like handling hypertriglyceridemia, though claims of precluding strokes or heart attacks have not been defended. Omega-3 fatty acids and fish oil have been examined in an extensive variety of other environments, such as anxiety, clinical depression, macular degeneration, and cancer, so far benefits in these surroundings have not been confirmed. The fish utilized as sources that do not essentially produce omega-3 fatty acids, but rather collect them by eating either prey fish or microalgae that have compiled omega-3 fatty acids.
The global fish oil market is anticipated to witness substantial growth over the forecast years owing to increasing aquaculture activities. Rising awareness regarding health importance of omega 3 among customer is driving the demand of fish oil over the forecast period. Nowadays, altering eating habits is boosting the demand for hydrogenized vegetable oils and margarine. Also, consumption of EPA and DHA fatty acid aids in eliminating bad cholesterol, coronary heart issues like strokes and blood pressure, which is prone to fuel the growth of the global market. Furthermore, rising utilization of fish oil as a vital ingredient in various beauty products such as creams, in all-purpose creams etc. is expected to promote market growth. Rising aquaculture activities, primarily in India and China, owing to suitable climate and plentiful of agricultural land is liable to fuel demand for animal-feed and fish-feed that contain fish oil. Increasing omega-3 consumption due to its wide health benefits is anticipated to encourage the global fish market growth over forecast years. However, the high price of the product coupled with a vast demand-supply gap might hinder the market growth over the projected period.
The major market players in the global fish oil market are COPEINCA ASA, Croda Inc., EPAX AS, GC Rieber Oils, Omega Protein, Corpesca S.A., American Marine Ingredients and Colpex. On basis of products types, the global market is split into; Anchovy, Mackerel, Sardines, Cod, Herring, Menhaden, and Others. By application, the market industry is classified as; Aquaculture: Marine fish, Salmon & Trout, Crustaceans, Eles, Tilapias, Cyprinids, and Others; Animal Nutrition & Pet food; Pharmaceuticals and Supplements & Functional food. Geographically, the global fish oil market is segmented in regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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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.
- Major market players like Omega Protein, American Marine Ingredients, Croda Inc., Corpesca S.A., GC Rieber Oils and EPAX AS. GC Rieber Oils presents omega 3 oil under the brand named as Vivo Mega for human health. The product is improved with various amounts of DHA, EPA and a mixture of EPA and DHA.