Presence of key nutrition including omega 3 acids, eicosapentaenoic
acid (EPA) and docosahexaenoic acid (DHA) in fish oil is one of the key
factors driving the fish oil market. Growing concern about health and
increasing demand in variety of food products containing unsaturated
fatty acid are also prominent key drivers expected to work favourably
for the growth of the fish oil market.
Advantages such as reducing joint pains, triglyceride levels,
improving lung functioning, depression levels, improving neurological
and visual development in infants and reducing the probability of
coronary diseases from fish oil are going to drive the market growth
over the forecast period. Rise in direct human consumption (DHC) owing
to increasing health awareness of advantages of omega 3 fatty acids is
expected to be major driver for the fish oil market in coming years.
However, static production with increasing demand and increasing prices
are expected to be the confronting issues for the growth of the fish oil
market. Fast development of aquaculture globally is expected to drive
the market.
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Application Insights
Aquaculture application is expected to witness the highest growth and
dominate the fish oil market. Key aquaculture species include trout,
salmon, tilapias, marine fishes, freshwater crustaceans, carps, marine
shrimps, milkfish, eels, catfishes and miscellaneous freshwater fishes.
Trout and salmon dominate the fish oil market. Marine fishes are
expected to grow fastest in the fish oil market. Direct human
consumption include Anchovy, capelin, herring and mackerel which are
fishes used for making DHA /EPA products.
Regional Insights
Key fish oil market includes Europe, North America, Latin America and
Asia Pacific. Europe has accounted for the highest growth and it is
expected to continue with the growth due to increasing awareness about
dietary products as well as per capita consumption. U.S FDA has imposed
the limit on using species such as shark due to heavy concentration of
toxic substances such as dioxin, mercury, chlordane and PCBs in shark.
This is expected to hamper the market growth in coming years. Asia
Pacific is expected to witness the fastest growth owing to increasing
domestic demand in countries like China. Trout and Salmon are mainly
farmed in Peru and Chile. Furthermore, Peru, Chile and Denmark are the
major producer and exporter of fish oil worldwide.
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Competitive Insights
Key players in fish oil market includes EPAX AS, Croda Inc., COPEINCA
ASA, Colpex, Omega Protein Corporation, GC Rieber Oils, FF Skagen A/S,
American Marine Ingredients, Nutrifynn Caps, Inc.,Pesquera Diamante
S.A., Marvesa Holding N.V. and Corpesca S.A. The fish oil market is
moderately concentrated with the players. Due to shortage of raw
material and increasing concentration on maintaining fish farming, the
global fish oil market is expected to lead towards consolidation and is
also expected to witness numerous acquisitions, merger strategic steps
over the forecast period.
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