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U.S. and South America Fish Oil Market Is Expected to Generate $1.1 Billion by 2027: Allied Market Research
U.S. and South America Fish Oil Market
According to the report published by Allied Market Research, the U.S. and South America fish oil market generated $677.6 million in 2020, and is projected to reach $1.1 billion by 2028, witnessing a CAGR of 9.8% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Shankar Bhandalkar, a Team Lead Research, Food & Beverages at Allied Market Research, stated, "Consumers today pay a lot of attention to what they consume on a daily basis. Growing instances of diseases caused by nutrient deficient diet has encouraged consumers to invest in a number of different supplements to achieve their health goals."
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COVID-19 scenario:
The outbreak of the Covid-19 pandemic has had a positive impact on the U.S. and South America fish oil market.
The pandemic reinforced the idea of healthy diet and encouraged consumers to invest more on supplements and functional food to improve immunity. This, in turn, increased the demand for fish oil supplements and omega-3 fortified food among consumers.
The report offers detailed segmentation of the U.S. and South America fish oil market based on type, application, and country.
Based on type, the salmon was the most prominent segment with the highest share in the U.S. and South America fish oil market, and is estimated to exhibit a CAGR of 9.5% during the forecast period. The anchovy segment is also subject to high growth of 9.1% throughout the forecast.
Based on application, the supplement segment garnered the highest share in 2019, and is expected to register at a notable growth rate of 9.6%. However, the functional food segment is anticipated to exhibit the highest CAGR of 12.5% from 2021 to 2027.
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Based on country, the U.S. was the dominant market, contributing the largest market share in the U.S. and South America fish oil market. However, Brazil is expected to depict the highest growth rate of 13.5%.
The key players profiled in the report includeOmega Protein Corporation, FMC Corporation, Nordic Naturals, Wileys's Finest, Barlean's, Optimum Nutrition, Nuzena LLC, Nutrigold, the Nature's Bounty, and Colpex International.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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