TheFishSite.com - news, features, articles and disease information for the fish industry

News

Fish Oil Market to Reach $3,300 Million by 2020

26 June 2014

US - The global market for fish oil is expected to reach $3,300.0 million by 2020, according to a new study by Grand View Research.

Fish oil demand is expected to show significant growth, following increasing human consumption, owing to rising health awareness and benefits provided by omega 3 fatty acids and other nutraceuticals.

In addition, accelerating demand for aquaculture is further expected to fuel market growth for fish oil. Volatile fish oil prices, owing to static fish oil production, in contrast to the accelerating demand is expected to be a key challenge for market participants.

Asia Pacific and Latin America are expected to be the fastest growing markets in term of demand due to increasing salmon farms in Chile and aquaculture of carps in China.

Aquaculture was the largest application segment, accounting for 772.4 kilo tons of fish oil demand in 2013 that is expected to reach 843.6 kilo tons in 2020, growing at a CAGR of one per cent over next six years.

It is expected to dominate the market share over the forecast period owing to increase in demand for species such as salmon, trout, carp, tilapias and marine fishes. Rapid expansion of aquaculture in Asia Pacific can be seen as a large market opportunity for growth of fish oil market. In addition, direct human consumption sector is further expected to show considerable growth at a CAGR of 1.6% from 2014 to 2020.

 

TheFishSite News Desk



Our Sponsors

Partners



Sustainable Aquaculture Modular Courses AVAILABLE NOW - University of St Andrews

Seasonal Picks

Know Your Freshwater Fishes - 5m Books.com

Aquacullture Webinars from TheFishSite - Sign Up Now