Demand For Fish Oil Is Slated To Surpass A Valuation Of Us$ 3.6 Bn By 2031
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Growing consumer desire for processed food is a crucial reason that is likely to encourage fish oil manufacturers to examine current marketing methods and implement new technologies to improve their share of market revenue. The market for convenience and processed food is rising, due to increased urbanization and changing lifestyles & eating patterns among the worldwide population.
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Manufacturers now focus on selling fish oil supplements that are accessible in various formats such as pills, capsules, and tablets. Fish oil consumption in especially increasing in Western Europe due to its nutritional properties that prevent heart attacks and other diseases.
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Key Takeaways from Market Study
The U.S. is estimated to account for approximately 85% of the North American market in 2021, supported by high number of health-conscious consumers.
China is estimated to account for nearly 43.4% of the East Asian market share in 2021, supported by an increase in production of fish oil.
Germany is dominating the European fish oil space with a market share of 24.2%, supported by rising demand from dietary supplements industry.
Anchovy oil holds 34.7% of market share on the back of nutritional benefits and various applications.
Business to business (manufacturers and distributors) reflect around 46.1% market share owing to high demand from the processed food and foodservice industry.
“Manufacturers are focusing on product launches to cater to emerging demand for omega-3 fish oil. They are investing substantially in promotional and marketing activities to increase awareness about the product’s benefits to gain a competitive edge in the worldwide market,” said a lead analyst at Fact.MR.
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Main Segments Covered in Fish Oil Industry Research
Feed Grade Fish Oil
Food Grade Fish Oil
Pharma Grade Fish Oil
Crude Fish Oil
Refined Fish Oil
Modified Fish Oil
Cod Liver Oil
By End User
Salmon & Trout
Food & Beverages
Cosmetic & Beauty Products
Business to Business (Manufacturers and Distributors)
Business to Consumer
Modern Trade (Hypermarkets & Supermarkets)
Crucial insights in the Fish Oil Market research:
Underlying macro- and microeconomic factors impacting the growth of the Fish Oil Market Basic overview of the Fish Oil Market including market definition, classification, and applications.
Scrutinization of each Fish Oil Market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of Fish Oil Market across various industries.
Important regions and countries offering lucrative opportunities to Fish Oil Market stakeholders.
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