Increasing consumer awareness of the health advantages of omega 3 is anticipated to drive demand for fish oil throughout the projected period.
As a result of a shift in dietary preferences, the demand for hydrogenated vegetable oils and margarine is anticipated to increase, leading to a growth in the business. In addition, rising demand for protective coatings and lubricants is anticipated to contribute to growth throughout the projection period.
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Fish oil is essentially the extracted fat or oil from fish tissue. It is typically derived from oily fish including herring, tuna, anchovies, and mackerel. However, it is also made from the livers of other types of fish. Nearly 30% of fish oil is composed of omega 3, while the remaining 70% consists of other components.
Omega-3 fatty acids can be obtained via fish oil. Fish oil can reduce triglyceride levels in high dosages, as elevated triglyceride levels raise the risk of heart disease. Additionally, fish oil is recommended for irregular heartbeats and depression. In the future years, the rise of chronic diseases around the globe is anticipated to increase the need for fish oil.
Consumption of DHA/EPA aids in lowering blood pressure, bad cholesterol, and coronary heart illnesses, such as strokes, which is anticipated to stimulate industry growth. As a result of an unhealthy lifestyle, the prevalence of heart disease among consumers will rise over the projection period, driving demand. In addition, the rising use of the component in cosmetic goods, as emollients, and in general ointments is anticipated to contribute to the expansion of the sector.
Increasing aquaculture activities, particularly in China and India, as a result of good climatic conditions and sufficient availability of farmland are anticipated to increase demand for fish oil-based feeds. Increasing usage of omega-3 supplements as a result of its multiple health benefits is anticipated to drive market growth over the forecast period.
It is anticipated that rising direct consumption of fish oil will encourage business expansion. However, high product prices and a substantial demand-supply gap are anticipated to impede market expansion during the next seven years.
Increasing health approvals by various organisations, such as EU, The American Dietetic Association, The Food and Drug Administration (FDA), and EFSA (European Food Safety Authority), as well as regulatory support to encourage the fishing industry, are anticipated to have a favourable effect on the market. In the near future, increasing R&D expenditures and technical advancements for the ingredient’s use in the healthcare industry will create new market opportunities.
Fish Oil is the food and beverage industry’s most rapidly expanding trend. A greater understanding of the health advantages increases intake. The expanding aquaculture industry increases the need for fish oil and stimulates the global market.
The rising prevalence of cardiovascular and heart disorders around the globe leads to a rise in fish oil consumption and contributes to the expansion of the global fish oil market. Fish oil is a natural and abundant source of omega-3 fatty acids derived from a variety of fish. As a result of increased awareness, people are consuming more fish oil, which is expected to increase the worldwide fish oil market.
In the near future, the expanding nutraceuticals industry will raise the consumption of fish oil as a healthy supplement, hence boosting the fish oil market.
Fish Oil Market: Competitive Landscape
The global fish oil market is dominated by Copeinca AS, Omega Protein Corporation, FMC Corporation, TripleNine Group A/S, Corpesca SA, FF Skagen A/S, Colpex International, Marvesa Holding N.V., Pesquera Diamante S.A., and Pesquera Exalmar.
Global fish oil market is segmented as follows:
- Animal Nutrition & Pet food
- Supplements & Functional food
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa