Global Fish Oil Market Is Boosted By Increasing Knowledge About Health Benefits Of Omega-3

Global Fish Oil Market Report, published by Variant Market Research, forecast that the global market was valued at $1,524 million in 2016 and expected to reach $2,364 million by 2024; growing at a CAGR of 5.6% from 2016 to 2024. In geographical segments, Asia-pacific and Rest of the World are anticipated to grow at a fastest CAGR of 6.8% and 6.1%, respectively, over the forecast period 2016 – 2024.

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The major factors driving the growth of the global fish oil market are increasing direct consumption of fish oil, increasing knowledge about health benefits of omega-3, improved aquaculture activities, and high adoption of fish oil as an ingredient in cosmetic products. Though, huge demand-supply gap and high cost of fish oil may hamper the market growth in the coming years. Furthermore, regulatory support from several agencies such as, EFSA (European Food Safety Authority) and the Food and Drug Administration (FDA) would unfold attractive business opportunities for the market in the coming years.

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The global fish oil market is bifurcated into species, application, and geography. Species segment includes tilapias, marine fish, carps, salmon & trout, and others (Includes eels, herrings, and mackerels). Salmon & trout held the major market share in 2016, due to its higher direct human consumption to strengthen muscle & heart and improve metabolism. Application segment includes direct human consumption, aquaculture, and others (Includes industrial uses and hydrogenation). In 2016, the aquaculture segment held more than half of the total market share; due to regular stocking for improving fish production output and increasing importance of breeding.

By geography, the market is bifurcated into North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2016, Europe held the major market share of 41.5%, due to growing aquaculture activities in Norway and UK. The Common Fisheries Policy Reform approved by European Commission has also driving the growth of fish oil market in the region. Asia-Pacific held the second largest market share of 26.5%, driven by rising awareness about nutritional diet in emerging economies such as China and India. Asia-Pacific is expected to grow at a the fastest CAGR of 6.8% and projected to dominate the market during the forecast period 2016-2024. The growth would be majorly driven by rising aquaculture sector mostly in countries such as China, Indonesia, Bangladesh, Thailand, and India.

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The key players operating in the global fish oil market are EPAX AS, Croda Inc., Omega Protein Corporation, Colpex, COPEINCA ASA, TASA, Copeinca AS, FMC Corporation, and Pesquera Diamante S.A, Corpesca SA, among others.

Scope of Fish Oil Market
Species Segments
• Marine Fish
• Tilapias
• Carps
• Salmon and Trout
• Others (Includes Eels, Mackerels, Herrings)

Application Segments
• Aquaculture
• Direct Human Consumption
• Others (Includes Hydrogenation and Industrial use)

Geographical Segments
• North America
o US
o Canada
o Mexico

• Europe
o Germany
o UK
o France
o Others

• Asia-Pacific
o China
o India
o Japan
o Others

• RoW
o South America
o Middle East
o Africa

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