Global Fish Oil Market Is Driven By Increasing Direct Consumption Of Fish Oil

Posted September 25, 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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Some of the major driving factors of global fish oil market are augmented aquaculture activities, rise in consumer awareness regarding health benefits of omega-3, and increasing direct consumption of fish oil. Furthermore, growing use of fish oil as an ingredient in cosmetic products has also propelled the growth of the market. Though, high cost of fish oil coupled with large demand-supply gap may restrain the market growth in the coming years. Regulatory support from various agencies such as, The Food and Drug Administration (FDA) and EFSA (European Food Safety Authority) would provide several growth opportunities for the market in the coming years.

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The global fish oil market is bifurcated into species and application. Species segment includes marine fish, carps, tilapias, salmon and trout, and others. Salmon and trout held for the largest market share in 2016, owing to its increased direct human consumption to improve metabolism and strengthen muscle & heart. Application segment comprises direct human consumption, aquaculture, and others. The aquaculture segment held for more than half of the total market share in 2016; driven by rise in importance of breeding and regular stocking for enhancing fish production output.

North America, Europe, Asia-Pacific and Rest of the World (RoW) are the key region covered in the global fish oil market. Europe held for the largest market share of 41.5% in 2016, driven by rise in aquaculture activities in Norway and UK. The Common Fisheries Policy Reform passed by European Commission has also led to growth of fish oil market in the region. Asia-Pacific is to attain the fastest CAGR of 6.8% during the forecast period 2016-2024. The growth would be primarily driven by increasing aquaculture sector mainly in countries such as China, Indonesia, Bangladesh, Thailand, and India.

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The major players in the global fish oil market include EPAX AS, Croda Inc., Omega Protein Corporation, Colpex, TASA, COPEINCA ASA, 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.
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Issued By Manoj Kumkar
Website Variant Market Research
Phone +1-415-680-2785
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Country United States
Categories Food
Tags forecast , growth , size , trend
Last Updated September 25, 2017