Fish Oil Market - Sales Overview, Market Size, Opportunities, Demands, Market Share and Growth Analysis 2021-2027

Fish Oil Market was pegged at $1.91 billion in 2019, and is expected to reach $2.84 billion by 2027, growing at a CAGR of 5.8% from 2021 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Substantial growth of the aquaculture industry and growing health awareness have propelled the growth of the global fish oil market. On contrary, adverse climatic conditions, demand-supply gap, and stringent government regulation impede the market growth. However, rapid ageing population connectivity and production from by-products are anticipated to usher a number of opportunities for market players in the near future.

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Covid-19 scenario:
• The demand for fish oil supplements has witnessed a hike during the covid-19 outbreak. In addition, these are being prescribed for patients with Covid-19 as there is vigorous evidence that it can be helpful to the course of sepsis.
• At the same time, the scarcity of workers and disrupted supply chain have resulted into a shortage of fish oil supplements.

The global fish oil market is segmented into species, application and region. By species, the anchovy segment held the largest share in 2019, accounting for more than two-fifths of the global fish oil market, owing to high concentration of EPA and DHA present in anchovy fish oils and rising use of anchovy fish oil in the pharmaceutical industry. However, the mackerel segment is expected to register the highest CAGR of 10.3% during the forecast period, due to increased use in pharmaceutical application because of high concentration of omega 3 fatty acid.

By application, the aquaculture segment is expected to manifest the highest CAGR of 8.9% during the forecast period, as fish oil is primarily fed to species such as salmon and trout. However, the food segment held the largest share, contributing to more than two-fifths of the global fish oil market, due to its increased consumption of fish oil supplements for lowering risk of heart and blood-related problems. Moreover,

Based on region, the global market across Asia-Pacific held the highest market share in 2019, accounting for more than three-fifths of the total revenue share. On the other hand, North America region is anticipated to manifest the fastest CAGR of 8.6% from 2021 to 2027. The report also examines the market across Europe and LAMEA regions.

Major market players in the report include Omega Protein Corporation, Copeinca AS, FMC Corporation, Colpex International, Corpesca SA, FF Skagen A/S, TripleNine Group A/S, Marvesa Holding N.V., Pesquera Diamante S.A., and PesqueraExalmar

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