Global Fish Oil Market Analysis
Global fish oil demand has been expected to rise up to US$ 3.61 billion by the year 2032 from US$ 2.19 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 5.74 percent. from 2024 to 2032. This stupendous growth is indicative of the relations with the enhanced consumer knowledge about the multiplicity of health advantages of omega-3 that bordered on the anticipated growth in the demand for fish oil in the further years.
What is Fish Oil?
Fish oil which is consumed as a dietary supplement, is extracted from the tissues of oily fish. Among these, it contains omega-3 fatty acids - eicosapentaenoic acid (EPA) as well as docosahexaenoic acid (DHA), which are known to provide possible health benefits. Omega 3 help to have better heart health, reducing inflammation, and improving the brain’s condition. It is available in the form of capsule, which are commonly advised by the doctors to patients who lack proper intake of omega-3 fatty acids in their diet.Fish Oil Market Trends
Fish oil is a useful product helping the elderly to avoid chronic diseases.Fish oil is useful for the elderly particularly in lessening the incidences of chronic diseases. Omega-3s subdue inflammation and decrease the chances of being affected with heart diseases, assist in functions of the brain, enhance joint health and vision. Thus, adding fish oil to the food plan of elderly sufferers has been demonstrated to make a fantastic impact on their high quality of life. Chronic kidney disease (CKD) is a significant global health issue concerning a large percentage of people, reporting over 850 million of them which is more than 10% of the world population. The main predictable factors for the development of CKD embrace diabetes, cardiovascular disease and genotype factors such as family history of kidney failure, high blood pressure and it affects elderly people more.
As people become more knowledgeable about the side effects of chronic diseases, diseases there is a rising of natural or home remedies to convey omega-3 fatty acids.
Fish oil contains omega-3 fatty acids which have many health benefits hence the reason it has been used widely. These advantages are diverse. It has been universally acknowledged that omega-3 fatty acids have benefits in heart disease by lowering dangerous cholesterol, raising good cholesterol plus reducing stroke risks. Also, the supplement’s benefit to brain functions in the way it influences the prevention of dementia together with its function to enhance memory make the supplement Diary of a Wimpy Kid appealing to clients with cognitive issues. Anti-inflammatory qualities also enable it to reduce signs of conditions; scientifically it is a dietary supplement for arthritic conditions. This provides some benefits that help to enhance the chances of fish oil sales in the market.
Surging Demand for Aquaculture:
Fish farming or the more appropriate term is aquaculture has emerged to meet this demand since the wild fish resources are diminishing. Therefore, the fish oil, an ingredient used in preparing the aquaculture feed has also grown popular. Farm-Issued fish farming offers a steady supply of fish meat, resulting to a steady rise of demand for the farmed fish. The aquaculture industry hopes to increase the feeds conversion rate, fish growth and production and the firms’ return on investment with fish oil fortified aquaculture diets.Technological Advancements in Fish Oil Extraction:
The extraction efficiency has also been improved through better separation techniques hence enhancing the extraction yields and cutting down on the costs incurred during their production. This has led to the development of efficient technology that can offer fish oil in high purity with little or no degradation of the essential fatty acids. The innovations in extraction techniques allow the manufacture of fish oil products of higher utility processed in a way that would further increase bioavailability to meet the demands of different sectors. Super three and enzymatic hydrolysis may enhance the omega-3 fatty acid content in fish oil supplements.North America Fish Oil Market
The fish oil market in North America is fueled by a growing awareness of health, increasing demand for omega-3 supplements, and the rising popularity of functional foods. Important segments consist of dietary supplements, pharmaceuticals, and animal nutrition. Market dynamics are influenced by sustainability considerations and regulatory standards, which encourage the production of high-quality and eco-friendly products.The demand for sustainably produced, high-quality aquafeed is increasing in the United States due to the rising popularity of seafood consumption. Fish oil, rich in omega-3 fatty acids, enhances the nutritional profile and promotes healthy growth in farmed aquatic animals. The accelerate in consumer awareness of the health benefits of omega-3 fatty acids contributes to the demand for fish oil in animal nutrition. This demand extends beyond the aquaculture sector to include poultry and swine feed, further fueling the growth of fish oil in the USA.
Global Fish Oil Company Analysis
Croda International Plc., Mukka Proteins Limited, FKS Multi Agro, GC Rieber Oil, Colpex International SAC, Corpesca S.A., FF Skagen A/S, and Nutrifynn Caps, Inc are the leading fish oil companies across the World.Global Fish Oil Company News
June 2022: DSM launched a new product called Romega, a high-purity omega-3 fatty acid supplement designed to meet the increasing demand for omega-3 supplements.November 2023: Grøntvedt Biotech has introduced CETO3, offering a range of omega 3 and cetoleic acid products.
June 2023: Nuseed Nutritional US Inc., which is a wholly-owned subsidiary of Nufarm Limited, is pleased with the decision by the Norwegian Food Safety Authority (NFSA) to approve the use of Aquaterra® Omega-3 oil in fish feed applications.
Source- Market breakup in 7 viewpoints:
1. Anchoveta2. Sardine
3. Capelin
4. Menhaden
5. Herring
6. Anchovy
7. Others
Distribution Channel- Market breakup in 4 viewpoints:
1. Hypermarkets and Supermarkets2. Specialty Stores
3. Online Stores
4. Others
End Use- Market breakup in 4 viewpoints:
1. Aquaculture2. Animal Feed
3. Nutritional Supplements
4. Pharmaceutical
Country - Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the key players have been covered from 4 Viewpoints:
- Business Overview
- Sales Analysis
- Product Portfolio
- Recent Development & Strategies
Key Players Analysis:
1. Croda International Plc.2. Mukka Proteins Limited
3. FKS Multi Agro
4. GC Rieber Oil
5. Colpex International SAC
6. Corpesca S.A.
7. FF Skagen A/S
8. Nutrifynn Caps, Inc.
Table of Contents
Companies Mentioned
- Croda International Plc.
- Mukka Proteins Limited
- FKS Multi Agro
- GC Rieber Oil
- Colpex International SAC
- Corpesca S.A.
- FF Skagen A/S
- Nutrifynn Caps, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.19 Billion |
| Forecasted Market Value ( USD | $ 3.61 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
