Fish Oil Market To Grow Significantly by 2020, Asia-Pacific To Be Major Revenue Contributor
Rising concern of chronic diseases such as cardiovascular and eye & joint deterioration is propelling the consumption of omega-3 fish oil in pharmaceutical and supplements & functional food application segments in the region. The Asia Pacific fish oil industry is largely affected by the demand-supply gap, caused by stringent fishing quotas and adverse climatic conditions in the major fish producing countries. However, increasing fish oil production through fish by-products (such as the head, viscera and backbone of the fish) would minimize the demand-supply gap to a certain extent. quote
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Aquaculture application segment consumes about 5/7th of the APAC fish oil market. More than 80% of the fish oil is consumed by the aquaculture industry in China, and similar trend is observed across Vietnam and Indonesia as well. Supplements & functional food forms the second largest fish oil consumer segment and would emerge as one of the fastest growing segments over the forecast period. Japan held 2/3rd of the fish oil consumed in supplement and functional food application market. A significant rise in health concerns among Japans geriatric population, fuels a demand of nutritional and pharmaceutical grade fish oil in Asia Pacific region.
Key companies, such as Triple Nine A/S and Omega Protein Corporation are primarily focusing on merger and acquisition as key strategies in order to strengthen their presence in potential fish oil markets across Asia Pacific region.
Key Players: Copeinca AS, Pesquera Diamante S.A, Corpesca SA, TripleNine, Omega Protein Corporation, Arbee and Mukka Sea Foods Industries.
Key Findings of Asia-Pacific Fish Oil Market:
• Over the forecast period, supplement & functional foods and pharmaceuticals would emerge as the most lucrative fish oil application segments
• 3/5th of the Asia Pacific fish oil market is captured by China and Japan collectively
• Most of the fish oil consumed in Asia is produced from Anchovies
• Salmon and Trout are the two fish species that consumes the largest volume of aqua grade fish oil
• Vietnam is among the top crude fish oil suppliers to China
• Aquaculture and supplement & functional food are considered as the most attractive segment for investors in Asia pacific fish oil market
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