Global Fish Oil Market

Fish Oil Market:Insights

The growing awareness about consuming nutritional and healthy food and the increasing use of fish oil in the aquaculture industry is expected to create a hostile growth ecosystem in the global fish oil market.

Fish oil is an important source of various nutritional components like EPA, DHA, Omega 6, Omega 3 fatty acid. Apart from that, these are rich in vitamins A and Vitamin D, which help to control high blood pressure, cholesterol levels, triglyceride levels, keep the heart young, keep the arteries healthy, among other benefits. These benefits are contributing to the rising demand for fish oil in various applications.

Fish oil is widely used in the farming of aquatic animals as it provides balanced nutrients for the aquatic animals. Components like long-chain polyunsaturated fatty acids are extremely effective for maintaining the good health of aquatic animals. Moreover, the expanding aquaculture industries all over the world, especially in developing countries like India, China, Indonesia due to the availability of inexpensive labor and large water bodies, is also contributing to this rising demand for fish oil.

Fish Oil Market: By Species

The global fish oil market can be segmented into several parts, according to the species of the fish, such as anchovies, sardines, herring, mackerel, cod, and menhaden. Among these, the segment of anchovies is expected to acquire the largest portion of the market in terms of revenue. It acquired the largest share of market revenue in 2019 as well.

Anchovy oil is rich in Omega 3 fatty acids, which are extremely crucial for a healthy heart.This helps control triglyceride levels, keeps the arteries healthy by reducing the possibility of plaque build-up, and also controls high blood pressure. Owing to these numerous benefits, this type of fish oil is extensively used in the pharmaceutical industry. Apart from that, many supplements and functional food items are also produced with the application of anchovy fish oil.

Cord fish oil, on the contrary, is predicted to be the fastest-growing segment.With the high prevalence of heart diseases, arthritis, osteoarthritis, autoimmune problems, and kidney diseases, cod liver oil is becoming popular as it can help to cure all these health problems.

It is an important source of vitamin D and vitamin A, which also helps to maintain high cholesterol levels and high levels of triglyceride in human bodies, especially those who have diabetes. The growing awareness of the significance of consuming supplements to live a healthier life is driving up demand for cod oil, which is expected to continue to rise at a fast pace in the coming years.

Fish Oil Market: By Application

By application, the market for fish oil can be segmented into several divisions, like aquaculture, pharmaceuticals, animal nutrition, and pet food, supplements and functional food. Among these, supplement and functional food is expected to dominate the market over the forecast period.

The increasing awareness about living a healthy life by consuming additional vitamins through various supplements and functional foods is the main driver of this widening demand for fish oil, which is used in the production of supplements and functional foods. Furthermore, the rising prevalence of various chronic diseases, heart problems, and kidney failures is driving consumer demand for supplements and functional foods containing various fish oils.

Fish oils contain some very important vitamins which cannot be consumed by any plant or other animal protein. The benefits like cholesterol control, triglyceride control, prevention of various heart diseases can be achieved by consuming these fish oils which are expected to act as a growth catalyst during the forecast period.

On the other hand, the segment of aquaculture is expected to rise significantly and become the fastest-growing segment during the forecast period. With the increasing demand for fish for consumption, aquaculture has been becoming popular in many countries of the world, especially in countries like India and China where available labor is inexpensive and large water bodies are situated. The aquaculture segment can be further divided into several segments, like salmon and trout, crustaceans, marine fish, tilapias. However, the salmon and trout subsegment is expected to contribute the largest demand portion.

With several benefits, like polyunsaturated fatty acids, TPA DHA, fish oils are widely used in the production of aquafeed and other applications in the aquaculture industry. It is made up of a balanced composition of fatty acids which is extremely important for aquatic animals. As a result, the demand for fish oil in the aquaculture sector is expected to rise during the projected era.

Fish Oil Market: By Region

As per the geographical analysis, the market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central South America (Brazil, Argentina, and Rest of Central and South America). The European region is expected to achieve the largest portion of the market revenue. Countries such as the United Kingdom and Norway are projected to be the region's and the world's leading suppliers of fish oil.The increasing number of favorable government initiatives taken in this region is also expected to help the market to expand. For instance, the "Common Fisheries Policy Reform and Strategic Guidelines" implemented by the European Commission is expected to help the aquaculture industry to expand prevalently in this region.

The Asia-Pacific region is projected to be the fastest-growing market, with a CAGR of nearly 7% from 2021 to 2026.The main contributors to this wide demand are expected to be countries like China, Thailand, India, and Indonesia. With the high availability of inexpensive labor and large water bodies in these countries, the market for fish oil is expected to rise rapidly.

Apart from that, the increasing awareness about living a healthy life by consuming nutritional and healthy food is also expected to contribute to this demand. The expanding aquaculture industries in this region are also expected to be a big contributor to the demand for these fish oils in the future, which is expected to rise the overall market growth value of this region.

Fish Oil Market Share and Competitor Analysis

Croda Inc., EPAX AS, GC Rieber Oils, American Marine Ingredients, COPEINCA ASA, Omega Protein, Colpex, Corpesca S.A. are some of the most significant players in this market.

Please note: This is not an exhaustive list of companies profiled in the report.