Increasing adoption of fish oil as ingredients in cosmetics drives the global fish oil market


Posted September 20, 2017 by manojkumkar

Global Fish Oil Market is estimated to reach $2,364 million by 2024; growing at a CAGR of 5.6% from 2016 to 2024.

 
Global Fish Oil Market Report, published by Variant Market Research, forecast that the global market is expected to reach $2,364 million by 2024 from $1,524 million in 2016; growing at a CAGR of 5.6% from 2016 to 2024. By geography, Asia-pacific and Rest of the World are expected to grow at a CAGR of 6.8% and 6.1%, respectively, during the forecast period.

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Fish oils are derived from oil fish species and are source of two essential omega-3 fatty acids. The drivers that are significantly shaping the growth of the market includes increasing demand for fish oils as ingredients in cosmetic products, rising awareness among consumers on health benefits offered by fish oils, high consumption of fish, and growth in aquaculture activities.
Large demand-supply gap and high cost of fish oils could hamper the growth of the market. However, increasing applications, and regulatory support from several agencies such as The Food and Drug Administration (FDA), AND European Food Safety Authority (EFSA) would create several growth opportunities in coming years.

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Salmon and trout accounted for the largest market share in species segment in the year 2016, driven by high direct consumption to improve metabolism and strengthen muscle & heart. Other sub-segments include marine fish, tilapias, carps, and others.

Application segment is bifurcated as aquaculture, direct human consumption, and others including hydrogenation an industrial use. Among which, the aquaculture segment accounted for majority of the total market share in 2016; owing to rise in importance of breeding and regular stocking for enhancing fish production output.

The global fish oil market by geography is categorized into North America, Europe, Asia-Pacific and Rest of the World (RoW). Europe held the largest market share of 41.5% in 2016, owing to rise in aquaculture activities in Norway and UK, closely followed by Asia-Pacific accounting for the second largest market share of 26.5%, driven by increased awareness towards nutritional diet in emerging economies such as China and India. In terms of growth, Asia-Pacific is to attain the fastest CAGR of 6.8% during the forecast period 2016-2024.

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

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com

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Issued By Manoj Kumkar
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Categories Food
Tags fish oil market , forecast , global scenario , size , trend
Last Updated September 20, 2017