Fish Oil Market By Source Species, Application and Key Players 2014 – 2020: TASA, Omega Protein Corporation, FMC Corporation, Copeinca AS, Corpesca SA, Colpex international , TripleNine, FF Skagen A/S, Pesquera Diamante S.A, Marvesa Holding N.V.
More than 50% of the global fish oil is produced in Latin American countries namely Peru and Chile; however, most of it is consumed in the Asia Pacific and Europe. The rising aquaculture production in Asian countries such as China, India, Vietnam and Indonesia, leads to increased usage of aquaculture grade fish oil in the region. North America and Europe have larger consumption of pharmaceutical and supplements & functional food fish oils; collectively accounting for about two-third of global revenues for these applications. In Japan, the consumption of nutritional and pharmaceutical grade fish oil has significantly increased due to rising health concerns among the country's geriatric population.
Key companies, such as Omega Protein Corporation and FF Skagen are primarily focusing on product launch and acquisition for expansion of their fish oil product offerings and assert strong foothold in various human and animal nutrition applications. The report covers a detailed study of key players such as TASA, Omega Protein Corporation, FMC Corporation, Copeinca AS, Corpesca SA, Colpex international, TripleNine, FF Skagen A/S, Pesquera Diamante S.A, Marvesa Holding N.V. and Pesquera Exalmar.
Fish oil is widely adopted in numerous human and animal nutrition applications as a food and feed supplement due to its high content of essential long chain omega 3 fatty acid. As a prime ingredient in aqua feed, the growth of fish oil market is largely proportional to the growth of aquaculture industry. Additionally, the popularity of omega 3 fish oil in various applications, such as supplements & functional food (nutraceutical) and pharmaceutical, is also providing boost to the market. However, the global fish oil industry is largely affected by the demand-supply gap, caused by stringent fishing quotas and adverse climatic conditions.
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Geographically, the fish oil market is segmented across North America, Europe, Asia-Pacific and LAMEA. China is the biggest fish oil consumer in the world and this is mainly due to the highest concentration of aquaculture industry in this region. On the other hand, rising concern for chronic disease leads to the adoption of omega 3 fish oil in countries like Japan, U.S., Denmark and Belgium.
To provide a thorough understanding of the market scenario, the global fish oil market is segmented based on species, application and geography. This report highlights the major fish oil species, which include Anchovy, Mackerel, Sardines, Cod, Herring, and Menhaden amongst others. Most of the fish oil producer in the global market is derived from anchovies. Based on application, the global fish oil market is segmented into aquaculture, animal nutrition & pet feed, pharmaceutical, supplements & functional food and others.
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The leading companies in the fish oil market are largely focusing on acquisition and product diversification to maintain their competitiveness in the global market. For instance, Omega Protein Corporation, recently acquired Bioriginal Food & Science Corp., a leading supplier of plant and marine based specialty oils and essential fatty acids in the food and nutraceutical industries. This acquisition enables Omega Protein Corporation to diversify its fish oil offerings in the human nutrition product segments and enhance its customer reach.
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