Global Fish Oil Market - Overview of Vital Industry Drivers

Fish oils are primarily used in aquaculture as fish feed and account for over 75% of the fish oil demand. The aquaculture segment is dominated by salmons and trout, which consume a major share of the fish oil. In addition, direct human consumption of fish oils has been increasing over the past couple of years owing to the increased demand for omega 3 (EPA and DHA).

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Peru, Chile and Denmark are the leading producers of fish oil and account for over 50% of the production. In terms of consumption, the European region is the largest consumer primarily due to the farming of salmons and trout. In addition, the growing demand for omega 3 as part of regular diet in Europe has further augmented the consumption of fish oil. However, there has been steadily growing demand for fish oil in Asia Pacific as well, especially from China due to the growing aquaculture market in the region.

Omega 3 is an essential fatty acid, and common sources include fish, algae and flax. However, commercially, majority of omega 3 is obtained from fish oils. Omega 3 helps in reducing the triglyceride levels of the body and hence helps in reducing heart related diseases. The increasing awareness regarding the benefits of omega 3 has augmented the use of fish oil in direct human consumption resulting in reduced availability of fish oil for aquaculture. The major fishes used for human consumption include anchovy, mackerel, herring and capelin due to the high content of EPA/DHA in them.

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The leading producers of fish oil include EPAX AS, COPEINCA ASA, Omega Protein Coporation, Croda Inc and Colpex among others.

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