Fish Oil Market to Reach US$ 3,178.28 million, Globally, by 2028 at 6.2% CAGR: The Insight Partners

According to a new market research report "Fish Oil Market By Species Type (Blue Whiting, Anchoveta, Sardine, Capelin, and Others) and Application (Pharmaceuticals, Animal Nutrition and Pet Food, Aquaculture, and Others) - COVID-19 Impact and Global Analysis and Global Forecast to 2028" published by TheInsightPartners, the fish oil market size is projected to grow from US$ 2,087.39 million in 2021 to US$ 3,178.28 million by 2028, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period.

In 2020, Asia Pacific dominated the global fish oil market and is expected to retain its dominance during the forecast period. The rising awareness related to health benefits and the rich nutritional profile of fish oil is driving the fish oil market growth across the region. Along with this, the increased prevalence of chronic diseases across various countries in the region is leading to increased demand for fish oil. For instance, in Australia, fifty percent of Australians are estimated to have at least 1 of 8 selected common chronic disease conditions: cancer, cardiovascular disease, mental health conditions, arthritis, back pain and problems, chronic obstructive pulmonary disease, asthma, and diabetes. These factors are expected to aid the demand growth of fish oil across the region.

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Pesquera Exalmar S.A.A.; Omega Protein Corporation; Pelagia AS; Copeinca; Coplex International S.A.C; Triplenine; FF Skagen A/S; DSM; Croda International PLC; and BASF SE are the key players operating in the fish oil market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.
Market Insights

Wide Range of Applications of Fish Oil in Different Industries

Fish oil is increasingly used in various industries, such as pharmaceuticals, animal nutrition and pet food. It finds significant application in pharmaceuticals and is considered natural oil or EPA-DHA concentrates. It is also used for animal feed as it provides growth-promoting effects and is an inexpensive energy source. Apart from this, it is also used in pet food and helps strengthen the dogs' immune system while it also helps fight canine cancer. Fish oil is also used as a supplement where the capsules are traditionally made using gelatin that covers the oil in the soft-gel capsules. Thus, the usage of fish oil in different industries is driving the fish oil market growth.

Species Type Insights

Based on the species type, the fish oil market is bifurcated into blue whiting, anchoveta, sardine, capelin, and others. In 2020, the sardine segment was the fastest-growing segment in the market. Sardine is a small, herring-like fish with various nutritional benefits similar to other fishes such as salmon. The oil extracted from sardine is also used as a lubricant and is mostly used in paints, varnishes, biofuels, and linoleum.

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Regional and Country-wise Analysis: Global Fish Oil Market

- North America (U.S., Canada, Mexico)

- Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

- Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

- Latin America (Brazil, Rest of L.A.)

- The Middle East and Africa (Turkey, GCC, Rest of Middle East)

Report Spotlights:

• Progressive trends in the fish oil industry to help players develop effective long-term strategies

• Business growth strategies adopted by companies to secure growth in developed and developing markets

• Quantitative analysis of the global fish oil market from 2019 to 2028

• Estimation of the demand for fish oil across various industries

• Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth

• Recent developments to understand the competitive market scenario and the demand for the fish oil

• Market trends and outlook coupled with factors driving and restraining the growth of the fish oil market

Key points from Table of Content:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Fish Oil Market Landscape

5. Fish Oil Market - Key Market Dynamics

6. Fish Oil - Global Market Analysis

7. Fish Oil Market - By Species Type

8. Fish Oil Market Analysis - By Application

9. Fish Oil Market - Geographic Analysis

10. Impact of COVID-19 on Global Fish Oil Market

11. Industry Landscape

12. Company Profiles

13. Appendix

LIST OF TABLES

LIST OF FIGURES

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About The Insight Partners:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our wide range of research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials and Foods and Bavarages.

This release was published on openPR.