According to a new market report published by Credence Research “Fish oil Market by application, Aquaculture, Animal Nutrition & Pet Food, Pharmaceuticals, Supplements and Others (Functional Food, etc.); by source, fresh water fish and marine fish; by geography, North America, Europe, Asia Pacific, Latin America and Middle East and Africa – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global fish oil market is expected to reach over US$ 3.69 Bn by 2025, expanding at a CAGR of 5.8% from 2017 to 2025.
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The worldwide fish oil market was evaluated at US$ 2.22 Bn for the year 2016. Growing demand for aquaculture and animal nutrition & pet food is predicted to remain the chief aspect determining the trends of global fish oil market in the near future. Increasing prevalence of heart diseases among consumers on account of unhealthy lifestyle will increase demand for fish oil over the forecast period. Moreover, fish oil is also used as ingredient in cosmetic products, as emollients and in general ointments.
China is the dominant player in the fish oil market owing to favorable climatic conditions and abundant availability of farming land. China is also the world’s largest exporter of fish oil. Major driver for the increasing fish oil production in China is mainly due to the highest concentration of aquaculture industry in this region. Overall consumption of fish oil in Western Europe is expected to increase in future. Rising concern for chronic disease leads to the acceptance of omega 3 fish oil in countries like U.S., Japan and Western European countries.
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Growing demand for fish oil from different end use sectors has compelled the producers to concentrate on increase in production. American Marine Ingredients, Colpex, Copeinca ASA, Corpesca S.A., Croda Inc., FF Skagen A/S, FMC Corporation, GC Rieber Oils, Marvesa Holding N.V., Nutrifynn Caps, Inc., Omega Protein and Pesquera Diamante S.A. are few key manufacturers in the global fish oil market.
- Growing global aquaculture industry
- Rising concern of chronic diseases among consumers
- Leading fish oil companies focusing on acquisition and product diversification
- Asia Pacific is expected to register the highest growth rate
- Large demand-supply gap are expected to restrain market
By Application Type
- Animal Nutrition & Pet Food
- Others (Functional Food, etc.)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
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