GLOBAL - The global fish oil market will grow significantly in the coming years, according to the latest research report from Transparency Market Research.
The global fish oil market was valued at $1.1 billion in 2011 and is expected to reach $1.7 billion in 2018, growing at a CAGR of 5.05 per cent from 2012 to 2018.
The volume of fish oil production was 1,035 kilo tons in 2011 and is expected to reach 1,130 kilo tons in 2018, growing at a CAGR of 1.22 per cent from 2012 to 2018.
Fish oil is the primary source of omega-3 fatty acid which is important to the body in several ways. As there is a growing awareness about benefits of omega-3, fish oil market is on a steady rise. With more and more people including omega-3 in their daily dietary intake, the demand for fish oil has seen an exponential rise in the past few years.
However, the global fish oil market also faces some restraints such as static or reduced production of fish oil. To escalate this matter further, the unpredictable nature of El Nino has been reducing the fishing volumes, negatively impacting the fish oil market.
The biggest market for fish oil is aquaculture as it is majorly used in farming trout and salmon in Peru and Chile. This segment accounts for nearly 75 per cent of the fish oil market. Adding to this is the direct human consumption (DHC) of fish oil which has experienced a massive growth in the past five years as people are more educated and aware about the benefits of omega-3. The popularly consumed fishes for their nutritional benefits such as omega-3 are anchovy, mackerel, herring and capelin. They also contain high amount of EPA/DHA.
The report on global fish oil market provides an in-depth insight of the value chain. The report gives a SWOT analysis and Porter's five forces analysis for measuring market growth and making fair projections. Additionally, it also segments the fish oil market according to the applications, species, and regions.
You can view the full report from Transparency Market Research by clicking here.
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