According to a report
published by Grand View Research, Inc.; the fish oil is
expected to reach a valuation of around USD 4.08 billion by 2022.
Rising awareness among the
consumer about health benefits of omega 3 and rise in aquaculture activities
can propel the market during the forecast period (2012 to 2022). Additionally,
supportive regulatory policies and growing R&D investments coupled with
technological advancements for using the ingredients in the healthcare sector
will create more opportunities in the coming years.
Increasing demand for
hydrogenated vegetable oils and margarine due to changing eating habits is
expected to supplement the market growth. Consumption of eicosapentaenoic acid
(EPA) and docosahexaenoic acid (DHA) aid in reducing blood pressure, coronary
heart diseases, and bad cholesterol. High prevalence of heart diseases among
individual due to unhealthy lifestyle is expected to increase the product
demand over the forecast period. Additionally, growing use of the product in cosmetic
products as an emollient, general ointments, and in lubricants and protective
coatings is projected to supplement the market growth during the forecast
period.
However, high prices of the
product along with a huge demand-supply gap and availability of alternatives
such as pork and beef can restrain the market growth.
Access
Research Report of Fish Oil Market@
www.grandviewresearch.com/industry-analysis/fish-oil-market
Worldwide fish oil market can
be segmented on the basis of application and region.
Based on application, the
market can be categorized into aquaculture, direct human consumption, and
others.
The aquaculture segment is
further fragmented into salmon and trout, marine fish, tilapias, crustaceans,
and others. The aquaculture segment was the leading segment in 2014 and estimated
for revenues exceeding USD 1.97 billion. Increasing awareness and efforts
regarding rearing and breeding of fish is likely to boost the segment in the
coming years. The salmon and trout segment is expected to drive the growth due
to strong farming base of salmon fish in Chile and Norway.
In 2014, the direct human
consumption segment estimated for over 9% of the overall revenue and
anticipated to grow in the coming years. This growth can be attributed to
increasing demand for functional foods and supplements in China, Japan, and
India. Rise in consumption of LC-omega for treating several health problems
such as cardiovascular diseases, Crohn’s disease, psoriasis, asthma, and eczema
is expected to boost the segment growth in the coming years. Additionally,
growing intake of the product to achieve brain health and neurological
development in children will also drive the segment growth.
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East and Africa.
In 2014, North America
reported for over 7.5% of the overall volume. The region is anticipated to show
growth in the coming years due to rise in awareness of nutritional benefits of
the product in the U.S. But, high consumption level of red meat in Mexico and
the U.S. due to their high protein content is anticipated to have negative
impact on the region.
In 2014, the product demand in
Asia Pacific was 463.1 kilo tons. The region is poised to grow at a CAGR of
2.4% in terms of volume. This growth can be ascribed due to presence of
abundant fishing farm land, growing food and beverage industry, and growth in
aquaculture in countries including India, China, Bangladesh, and Thailand.
Additionally, growing use of omega 3 in infants’ formulas and rise in awareness
about nutritional diet are also boost the demand for dietary supplements in
developing countries such as China and India.
Europe is likely to show
significant growth in the coming years. European Commission passed the Common
Fisheries Policy Reform and Strategic Guidelines, which is anticipated to
promote aquaculture in the region. Growing aquaculture activities in the U.K
and Norway is likely to drive the market in this region.
Top companies operating in the
market include Croda Inc.; Nutrifynn Caps, Inc.; Pesquera Diamante S.A.;
Marvesa Holding N.V.; American Marine Ingredients.
Key market participants are
majorly involved in R&D activities and new product development. They are
also involved in fishing activities and production of omega 3.
Access
Press Release of Fish Oil Market@
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.
