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

According to the new research report published by The Insight Partners, titled "Fish Oil Market Forecast to 2028 - COVID-19 Impact and Global Analysis - By Species Type (Blue Whiting, Anchoveta, Sardine, Capelin, and Others) and Application (Pharmaceuticals, Animal Nutrition and Pet Food, Aquaculture, and Others)," includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The Fish Oil Market was valued at US$ 2,087.39 million in 2021 and is projected to reach US$ 3,178.28 million by 2028. It is expected to grow at a CAGR of 6.2% from 2021 to 2028.

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Fish oil is extracted from the tissue fat of several fatty fish species, such as herring, mackerel, anchovies, sardines, carp, and tuna. It acts as a rich source of omega-3 fatty acids, vitamin A, vitamin D, and zinc. Fish oil offers numerous health benefits in reducing high blood pressure, lowering the risk of cardiovascular diseases, boosting metabolism, maintaining digestive functioning, and improving skin health.

Based on the application, the fish oil market is bifurcated into pharmaceuticals, animal nutrition, and pet food, aquaculture, and others. The pharmaceutical segment held the largest fish oil market share, based on application in 2020. In the pharmaceutical industry, fish oil is available in non-prescription and prescription-only varieties at different concentrations. Non-prescription fish oils become part of the consumer's multivitamin regimen and effectively supplement their diets with healthy fatty acids.

The global fish oil market is segmented into five main regions-North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). In 2020, North America was the fastest-growing region in the global market. The North American fish oil market is growing due to factors, such as the rise in the adoption of anchovy-based fish oil in developed nations and the increase in product launches from the key market players in the region. According to the U.S. Department of Health & Human Services, 6 out of every 10 adults in the U.S. have a chronic disease. An increasing prevalence of such chronic diseases in North America is leading to high demand for fish oil, aiding the market.

Impact of the COVID-19 Pandemic on the Fish Oil Market

Initially, the COVID-19 pandemic negatively impacted the fish oil market due to the shutdown of manufacturing facilities and the restrictions on transportation and logistics. The decrease in demand from industries, such as animal nutrition and pet food, and aquaculture, hampered the market. However, the changes in the consumer lifestyle have led to an increase in demand for healthy food products and supplements, which is expected to have a positive impact on the fish oil market. As consumers are becoming more health-conscious, the pharmaceutical industries have begun to need more fish oil to satisfy consumers' demand, which is expected to propel this market during the forecast period.

The "Global Fish Oil Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global trend analysis of the fish oil market. The report aims to provide an overview of the market with detailed market segmentation. The fish oil market is segmented on the basis of species type, application, and geography. Based on the species type, the market is bifurcated into blue whiting, anchoveta, sardine, capelin, and others. Based on the application, the fish oil market is bifurcated into pharmaceuticals, animal nutrition, and pet food, aquaculture, and others. Based on geography, the fish oil market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

The List of Companies - Global Fish Oil Market

The leading players in this market are 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. These companies are taking up strategies to expand their geographic presence and consumer base, such as mergers & acquisitions and product launches.  

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More Research:

https://www.marketwatch.com/press-release/protective-cultures-market-size-worth-34342-million-by-2028-cagr-96-the-insight-partners-2022-10-18

https://www.marketwatch.com/press-release/sparkling-water-market-worth-5529858-million-by-2028-exclusive-research-by-the-insight-partners-2022-10-18

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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 syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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