Fish Oil Market Size, Share, Trend, Global Industry Analysis, Key Players Review and Forecast to 2023

Market Highlights:

Fish oil has gained importance in cognitive improvement since it contains omega-3 fatty acids and vitamins A and D. Omega-3 helps in fighting cognitive disorders such as depression and psychosis. The vitamin A content helps protect eye health against age-related decline and supports bone health. The vitamin D content in fish oil promotes bone growth and helps maintain healthy teeth. The demand for fish oil is also increasing due to its application in weight loss management, improving muscle strength, and lowering muscle soreness, among others.

Based on product type, the global fish oil market has been segmented into salmon oil, tuna oil, cod liver oil, anchovy oil, and others. The salmon oil segment is expected to dominate the global fish oil market during the forecast period due to the various health benefits of this oil for cardiovascular disease, controlling the symptoms of rheumatoid arthritis, and treating depression. The cod liver oil segment is expected to be the fastest-growing during the forecast period owing to the high content of vitamins A and D and the use of this oil to reduce inflammation in the human body and lower blood pressure.

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The global fish oil market has been divided, by end use, into animal feed, functional food, functional beverages, dietary supplements, pharmaceutical products, and others. The animal feed segment is expected to dominate the global fish oil market during the assessment period since animal feed fortified with fish oil is high in vitamin A and D which promotes animal growth and is a cost-effective source of energy. The dietary supplements segment is projected to record the highest CAGR due to the increasing incidences of cardiovascular disease and cognitive impairment and growing need for additional nutrition in human diets to improve overall health.

The global market for fish oil has also been classified, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into supermarkets and hypermarkets, specialty stores, and others. The store-based segment is expected to generate higher revenue, with the supermarkets and hypermarkets sub-segment being the largest due to the strong and widespread network of stores. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online retailing.

Top Key Players:

Some of the key players in the global fish oil market are Oceana Group Limited (South Africa), TripleNine Group (Denmark), Pesquera Diamante (Peru), Hayduk Corporacion (Peru), the Scoular Company (US), FF Skagen A/S (Denmark), Sarma Fish SARL (Morocco), FMC Corporation (US), Blueline Foods (India) Pvt. Ltd. (India), and Olvea Fish Oils (France).

Regional Analysis:

The global fish oil market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the global fish oil market due to the high consumption of fish oil by health-conscious consumers. The consumption of fish oil improves insulin sensitivity which helps in losing body fat. A growing number of people with obesity are adopting fish oil for its low-fat properties, thereby boosting the growth of the regional market. The fish oil market in Asia-Pacific is expected to grow rapidly due to the rising awareness of the nutritional benefits of omega-3 fatty acids in emerging economies such as India and China. The demand for essential fatty acids is expected to influence the intake of omega-3 in the form of dietary supplements which is expected to propel the growth of the regional market during the forecast period.  

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Segmentation:

The global fish oil market has been segmented based on product type, end use, distribution channel, and region.

By product type, the global fish oil market has been segregated into salmon oil, tuna oil, cod liver oil, anchovy oil, and others.

Animal feed, functional food, functional beverages, dietary supplements, pharmaceutical products, and others are the end use segments of the global fish oil market.

On the basis of distribution channel, the global fish oil market has been divided into store-based and non-store-based. The store-based segment has been further segregated into supermarkets and hypermarkets, specialty stores, and others.

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This release was published on openPR.