Increasing Demand from Supplement & Functional Food Applications facilitates Global Fish Oil Market Growth

According to the estimations put forth by Inkwood Research, the Global Fish Oil Market is predicted to project a CAGR of 5.49% in terms of revenue and 3.31% in terms of volume during the forecasting years of 2021-2028.

"Browse 75 Market Data Tables and 49 Figures spread over 172 Pages, along with an in-depth TOC on the Global Fish Oil Market Forecast 2021-2028."

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Fish oil is a common supplement rich in omega-3 fatty acids. It is obtained from the tissues of oily fish that contain docosahexaenoic acids (DHA) and eicosapentaenoic acids (EPA).
Rising Demand from Supplement and Functional Food Applications Propel Market Growth
Fish oil is used in several human and animal nutrition applications like food & feed supplement, given its high content of essential long-chain omega-3 fatty acids. There is growing customization of fish oil supplements for addressing heart health problems. Its anti-inflammatory properties make them ideal for addressing age-related macular degeneration and arthritis. The functional food segment has been incorporating innovative techniques like microencapsulation of fish oil in different food products for sustaining the intactness of organoleptic traits. Moreover, the supplement and functional food applications are set to flourish in emerging markets like the Asia Pacific.

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Anchovy is the Major Revenue Generating Species in terms of Volume & Revenue

Anchovy is a small pelagic fish found in the sale water of the Pacific, Indian, and Atlantic oceans. It contains both omega-3 fatty acids and omega-6 fatty acids. Its fish oil is majorly consumed in the aquaculture feed markets in Chile and Europe. Its high concentration of EPA and DHA contributes to its high demand in the human consumption market as a supplement and functional food. It is also increasingly used in the pharmaceutical industry. Peruvian anchovy is the most-caught fish worldwide, contributing to more than 38% of the global fish oil production.

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Asia Pacific is the Dominant Region in terms of Revenue & Volume

The Asia Pacific region is considered to be the biggest fish oil consumer in the world, with 60% of the global fish oil. China consumes the most fish oil in the region. It imports several grades of crude fish oil from countries like Vietnam, Chile, and Peru. Fish oil is mainly consumed as an aquafeed ingredient in India, China, and Japan. In countries like Japan, it is utilized in nutraceuticals and pharmaceuticals. The government initiatives in the form of raising awareness of omega- fatty acid are further contributing to the market prospects of Japan.

Stringent government regulations like adverse climatic conditions and fishing quotas are huge concerns for fish oil manufacturers. More than 300 fish oil manufacturers in the global market offer several refined grade and crude fish oil for various end-users. Some of the leading manufacturers in the market include, BASF SE, Croda International PLC, LYSI HF, Royal DSM NV, FMC Corporation, etc.

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This release was published on openPR.