Global Fish Oil Market to Grow at 5.61% During 2024-2032, Bolstered by Increasing Utilization in Feed Additives

June 10, 2021 | Food & Beverages

According to the latest report by IMARC Group, titled “Fish Oil Market Report by Source (Anchoveta, Sardine, Capelin, Menhaden, Herring, Anchovy, and Others), Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online Stores, and Others), End Use (Aquaculture, Animal Feed, Nutritional Supplements, Pharmaceutical, and Others), and Region 2024-2032,” the global fish oil market is expected to grow at a CAGR of 5.61% during 2024-2032. Fish oil is obtained from fatty fish species like carp, tuna, herring, mackerel, anchovies, and sardines. It is a rich source of vitamin A, D and omega-3 fatty acids, which assist in reducing high blood pressure, boosting metabolism, lowering the risk of cardiovascular diseases and improving skin health. As its consumption also supports weight loss and improves the symptoms of depression, its demand is escalating around the world.

Global Fish Oil Market Trends:

Fish oil is widely utilized as an essential ingredient in several dietary supplements and functional food products and beverages. This, in confluence with the rising prevalence of cardiovascular ailments and obesity across the globe, represents one of the key factors propelling the growth of the market. Apart from this, fish oil is used in the production of pharmaceutical products around the world. Additionally, it is employed in numerous personal care products for treating dermatological disorders, including wrinkles, pigmentation, and dark circles. The market is also driven by extensive utilization of fish oil as a feed additive to enhance animal growth and control outbreaks of various diseases.

Market Summary:

Based on the source, the market has been segmented into anchoveta, sardine, capelin, menhaden, herring, anchovy, and others.
On the basis of the distribution channel, the market has been classified into hypermarkets and supermarkets, specialty stores, online stores, and others.
Based on the end use, the market has been divided into aquaculture (salmon and trout, marine fish, crustaceans, tilapias, and others), animal feed, nutritional supplements, pharmaceutical, and others.
Region-wise, the market has been categorized into Europe (Germany, United Kingdom, France, Italy, Spain ,Russia, others), Asia Pacific (China, Japan, India, Taiwan, Thailand, and others), North America (the United States and Canada), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, Iran, Saudi Arabia, and others).
The competitive landscape of the market has been examined, with some of the key players being China Fishery Group Limited, Corporación Pesquera Inca S.A.C. (Copeinca AS), Camanchaca, FF Skagen A/S, Foodcorp Chile S.A (Austevoll Seafood ASA), OLVEA Fish Oils (OLVEA), Oceana Group Limited, Pesquera Diamante S.A., Pioneer Fishing and TripleNine Fish Protein A/S (TripleNine Group).

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Source, Distribution Channel, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, Taiwan, Thailand, United States, Canada, Brazil, Mexico, Turkey, Iran, Saudi Arabia
Companies Covered	China Fishery Group Limited, Corporación Pesquera Inca S.A.C. (Copeinca AS), Camanchaca, FF Skagen A/S, Foodcorp Chile S.A (Austevoll Seafood ASA), OLVEA Fish Oils (OLVEA), Oceana Group Limited, Pesquera Diamante S.A., Pioneer Fishing and TripleNine Fish Protein A/S (TripleNine Group)
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