Fish Oil Products Market size is estimated to reach $8.1 Billion by 2025, growing at a CAGR of 4.3% during the forecast period 2020-2025. Fish oil is type of fat or oil obtained from fish tissue of oily fish, such as tuna, mackerel, herring, and anchovies. Fish oil has a high percentage of chain omega-3 fatty acids like EPA and DHA, which is very important ingredients used in all the health care supplements. World Health Organization (WHO) recommends eating one-two portions of fish or fish oil products, as it has many health benefits and helps to protect against a many diseases. The major proportion of omega-3s in fish oil includes docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA), which helps the body to synthesize chemicals that are involved in inflammation and blood clotting.
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By Species – Segment Analysis
The global Fish Oil Products Market based on species has anchovy, mackerel, sardines, cod and others. The anchovy segment is set to be fastest growing segment with CAGR of 3.9% during the forecast period (2020-2025). This is owing to high source of marine-derived omega-3s which has high demand in both food and healthcare industries. Besides, it helps in weight loss and pregnancy problems.
By Application – Segment Analysis
The Application segment of Fish Oil Products Market has aquaculture, animal nutrition & pet food, direct human consumption, pharmaceuticals, supplements & functional food and others. The aquaculture segment registered for the highest market share in 2019 and is set to continue for the forecast period (2020-2025). The increase in activities like aquaculture production, expansion in fisheries in terms of trading and consumption has helped the segment to increase revenue in the year 2019.
By Geography – Segment Analysis
The global Fish Oil Products Market by geography had the dominant share in Europe, in terms of revenue in 2019. Europe holds largest market share of 37.2 % owing to the high growth in salmon and trout farming in the region. The market in North America is set to experience significant growth for fish oil products market owing to increasing awareness of health benefits among consumers. Besides, Increase in chronic diseases in countries like U.S. is driving the demand in the region and is set to continue for the forecast period 2020-2025.
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Drivers – Fish Oil Products Market
The demand for Fish Oil Products is driving forward owing to the growing awareness of numerous medical benefits that they provide. Besides, Rapid increase in nutritional and pharmaceutical sector, and increase in usage of fish oil in lubricants and protective coatings, are acting as drivers for supporting the growth of the Fish Oil Products market.
Challenges – Fish Oil Products Market
Fish Oil Products Market has stringent regulations to set up and operate and it has become a challenge for the growth of market for the forecast period 2020-2025.
Fish Oil Products Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Fish Oil Products Market. Key companies of this market are colpex, fmc, croda, triplenine group, olvea, orizon, copeinca, rieber oils, FF skagen, omega protien, pesquera pacific star, pioneer, oceana group, austevoll seafood, barlean’s.
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