About Fish Oil
Fish oil is that type of oil which is derived from the tissues of oily fish. The various benefit of fish oil such as lower blood pressure, reduce triglycerides, reduce the chance of abnormal heart rhythm, may aid weight loss, reduce inflammation, among others. In the last few years, there is a significant demand for fish oil among consumer. For instance, according to an article published by the National Institutes of Health (United States), more than 8 million more adults used fish oil in 2012 than in 2007. Hence, rising demand for fish oil among teenager, changing food habit and increasing disposable income among middle-class families are some of the major factors which affect the growth of the market in the future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Billion) |
CAGR | 7.5% |
The market appears to be highly fragmented and with the presence of several companies including TripleNine Group A/S (Denmark), Oceana Group Limited (South Africa), The Scoular Company (United States), among othersThe Vendors having a strong hold in the market are Croda International Plc, Omega Protein Corporation, BASF SE, and Pelagia. Analyst at AMA Research estimates that United States and Peru Vendors will contribute the maximum growth to Global Fish Oil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
TripleNine Group A/S (Denmark), Oceana Group Limited (South Africa), The Scoular Company (United States), FMC Corporation (United States), GC Rieber Oils AS (Norway), Croda Inc. (United States), Omega Protein Corporation (United States), Marvesa holding N.V. (Netherlands), Corpesca S.A. (Chile) and TASA (Peru) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Colpex International SAC (Peru), FF Skagen A/S (Denmark), Pesquera Diamante S.A (Peru) and Pesquera Exalmar(Peru).
Segmentation Overview
AMA Research has segmented the market of Global Fish Oil market by Type (Stem Dried, Flame Dried and Others), Application (Aquaculture, Animal Feed, Functional Food & Beverages, Dietary Supplements, Pharmaceuticals and Others) and Region.
On the basis of application, Aquaculture segment is dominating the market in the year 2023On the basis of geography, the market of Fish Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution, the sub-segment i.e. Supermarkets will boost the Fish Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Salmon will boost the Fish Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase Focus on Environmental Degradation and Expansion of Fish Processing Plants across the Globe
Market Growth Drivers:
Increasing Demand from Supplement as well as Functional Food Application Segments and Rising in Consumer Awareness about the Health Benefits of omega-3 fatty acids in Human Body
Challenges:
Issue Related to Some Side Effect of Eating Fish Oil Products Such as Allergy
Restraints:
Increase in Water Pollution and Changes in Climatic Conditions Hamper the Fish Farming Market Growth and The problem regarding the Food Safety and Regulatory Compliance Requirement
Opportunities:
Increasing Aquaculture Production in Asian countries such as China, India, Vietnam, Indonesia, and other countries and Highly Opportunity in Food Industry, Owing to Increased Use of Fish Oil
Market Leaders and their expansionary development strategies
In September 2023, Nordic Naturals Partners with Sams Club to broaden Omega-3 reach, This partnership kicks with Nodic Naturals Ultimate Omega-3 supplements offered at Sams club store.
In September 2022, Ingredient supplier dsm-firmenich is set to launch a new algal omega-3 ingredient, life’sOMEGA 03020, in North America. The single-source omega-3 ingredient is the first on the market to have the same ratio of EPA and DHA as fish oil
Key Target Audience
Raw Material Suppliers and Distributors, Fish Oil Manufacturers, Government and Research Organizations, Associations and Industrial Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.