DUBLIN--(BUSINESS WIRE)--The "Fish Oil Market by Species and Aquaculture, Animal Nutrition & Pet Food, Pharmaceuticals, Supplements & Functional Food and Others: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global fish oil market size was valued at $1,905.77 million in 2019, and is estimated to reach $ 2,844.12 million by 2027 with a CAGR of 5.79% from 2021 to 2027.
Fish oil is derived from the tissues of oily fish that contain omega 3 fatty acids, such as eicosapentaenoic acids (EPA) and docosahexaenoic acids (DHA). Omega-3 fatty acids are largely used in the segments of aquaculture, animal nutrition & pet feed, supplements & functional food and pharmaceuticals etc. Moreover, omega-3 fatty acid also helps in improving the cardiovascular system and also plays a major role in proper functioning of the nervous system. The growing awareness among the medical professionals and public about the importance of omega-3 fatty acids has led to significant increase in fish oil consumption. Therefore, the companies are now expanding their nutraceutical product line with the addition of concentrated EPA and DHA. The rising demand of EPA and DHA in human nutrition has made a notable impact on the global fish oil market.
Moreover, increase in technology development has ensured that aquaculture remains sustainable and has minimal environmental impacts. In addition, developments like on-land recirculating aquaculture systems, aquaponic systems, offshore systems and the use of information technology has boosted the aquaculture industry globally. Hence, surge in technology level in aquaculture industry is the major factor driving the fish oil market in terms of value sales. However, the rising volume of fish oil consumption in human nutrition creates a supply threat for aquaculture feed. Moreover, due to adverse environmental factors and regulatory impositions on fishing, the companies are unable to fulfill the demand-supply gap. The rising demands and lack of supply are primarily responsible for increasing costs of fish oil. Moreover, the fish oil price rise is largely affected due to price fluctuations and market penetration of substitute products, such as vegetable proteins and other animals, as well as vegetable oils. Thus, continuous price fluctuations in the fish oil industry are anticipated to hamper the growth of the fish oil market.
The fish oil market is segmented into species, application and region. By species, the market is categorized into anchovy, mackerel, sardines, cod, herring, menhaden and others. By application, it is bifurcated into aquaculture, animal nutrition & pet food, pharmaceuticals, supplements & functional food and others. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Denmark, Norway, Belgium and rest of Europe), Asia-Pacific (China, Japan, India, Vietnam, Indonesia and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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- The market forecast is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
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- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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- Significant Growth of Aquaculture Industry
- Increasing Health Awareness
- Adverse Climatic Condition
- Demand-Supply Gap
- Stringent Government Regulation
- Rapid Ageing Population Connectivity
- Production from By-Product
- Omega Protein Corporation
- FMC Corporation
- Copeinca AS
- Corpesca S.A.
- Colpex International
- Triplenine Group A/S
- Ff Skagen A/S
- Pesquera Diamante S. A.
- Marvesa Holding N. V.
- Pesquera Exalmar
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