San Francisco, Nov 29 Global fish
oil market is expected to reach USD 4.08 billion by 2022,
according to a new report by Grand View Research, Inc. Growing demand for omega
3 along with rising aquaculture activities is expected to propel growth over
the forecast period.
Increasing
health benefits of fish oil is expected to drive demand among food, and
pharmaceutical manufacturers. Rising consumer awareness regarding benefits of
the product for overall health and skin is expected to augment demand. However,
presence of substitutes including beef, and pork along with high prices of fish
oil is expected to hinder industry growth over the next seven years. Adoption
of modern aquaculture practice will open new opportunities for market expansion
over the forecast period.
Browse full research report on Fish Oil Market:
www.grandviewresearch.com/industry-analysis/fish-oil-market
Further key findings from the report suggest:
- Direct human
consumption accounted for over 9% of the global revenue in 2014 and is
expected to show significant gains over the next seven years on account of
high demand for functional foods & supplements in India, China and
Japan. Increasing LC-omega consumption to maintain various health problems
including cardiovascular, asthma, psoriasis, eczema and Crohn’s disease
will drive consumption over the next seven years. In addition, rising
intake of fish oil as it aids neurological development and brain health in
children is expected to create immense market potential in the near
future.
- Aquaculture
dominated the global fish oil industry generating revenues exceeding USD
1.97 billion in 2014. Growing human consumption of fish is expected to
propel aquaculture activities over the forecast period. Rising awareness
among companies engaged in rearing and breeding of fish regarding the
benefits adding fish oil to aquafeed is expected to propel market growth
over the forecast period.
- Asia Pacific
demand was 463.1 kilo tons in 2014 and is expected to show significant
gains in light of abundant fishing farm land and growth of the food &
beverage sector. In addition, increasing consumption of omega 3 in
infants’ formulas mainly in India and China will fuel industry expansion.
- Key market
players include Omega Protein, Croda Inc., EPAX AS, Colpex, American
Marine Ingredients, GC Rieber Oils and Corpesca S.A. GC Rieber Oils offers
omega 3 oil under the brand name “Vivo Mega” for human health. The product
is enhanced with various quantities of EPA, DHA and a blend of EPA and
DHA. Companies including Copeinca ASA, Corpesca, FF Skagen and Pesquera
Diamante S.A. are integrated in their operations where the companies are
engaged in fishing activities as well as production of omega 3.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
Grand
View Research has segmented the global fish oil market on the basis of application,
and region:
Global
Fish Oil Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
- Aquaculture
- Aquaculture,
by product
- Salmon &
trout
- Marine fish
- Crustaceans
- Tilapias
- Others
- Direct Human
Consumption
- Others
Global
Fish Oil Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-fish-oil-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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