Fish Oil Market Growth, Trends, Segment To 2022: Grand View Research, Inc.

Global fish oil market is expected to reach USD 4.08 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for omega 3 along with rising aquaculture activities is expected to propel growth over the forecast period.
Increasing health benefits of fish oil is expected to drive demand among food, and pharmaceutical manufacturers. Rising consumer awareness regarding benefits of the product for overall health and skin is expected to augment demand. However, presence of substitutes including beef, and pork along with high prices of fish oil is expected to hinder industry growth over the next seven years. Adoption of modern aquaculture practice will open new opportunities for market expansion over the forecast period.

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 North America Fish oil market revenue, by application, 2012 - 2022 (Kilo Tons)

Further key findings from the report suggest:

• Direct human consumption accounted for over 9% of the global revenue in 2014 and is expected to show significant gains over the next seven years on account of high demand for functional foods & supplements in India, China and Japan. Increasing LC-omega consumption to maintain various health problems including cardiovascular, asthma, psoriasis, eczema and Crohn’s disease will drive consumption over the next seven years. In addition, rising intake of fish oil as it aids neurological development and brain health in children is expected to create immense market potential in the near future.
• Aquaculture dominated the global fish oil industry generating revenues exceeding USD 1.97 billion in 2014. Growing human consumption of fish is expected to propel aquaculture activities over the forecast period. Rising awareness among companies engaged in rearing and breeding of fish regarding the benefits adding fish oil to aquafeed is expected to propel market growth over the forecast period.
• Asia Pacific demand was 463.1 kilo tons in 2014 and is expected to show significant gains in light of abundant fishing farm land and growth of the food & beverage sector. In addition, increasing consumption of omega 3 in infants’ formulas mainly in India and China will fuel industry expansion.
• Key market players include Omega Protein, Croda Inc., EPAX AS, Colpex, American Marine Ingredients, GC Rieber Oils and Corpesca S.A. GC Rieber Oils offers omega 3 oil under the brand name “Vivo Mega” for human health. The product is enhanced with various quantities of EPA, DHA and a blend of EPA and DHA. Companies including Copeinca ASA, Corpesca, FF Skagen and Pesquera Diamante S.A. are integrated in their operations where the companies are engaged in fishing activities as well as production of omega 3.

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Grand View Research has segmented the global fish oil market on the basis of application, and region:
Global Fish Oil Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)

• Aquaculture
• Aquaculture, by product
• Salmon & trout
• Marine fish
• Crustaceans
• Tilapias
• Others
• Direct Human Consumption
• Others

Global Fish Oil Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Fish Oil Market To 2020- Industry Trends, Forecast: Grand View Research, Inc.

The global market for fish oil is expected to reach USD 3,300.0 million by 2020, according to a new study by Grand View Research, Inc. 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 1.0% 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.

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Global fish oil consumption volume, by application, 2013

Further key findings from the study suggest:

• Global fish oil demand was 1,090.0 kilo tons in 2013 and is expected to reach 1,200.0 kilo tons by 2020, growing at a CAGR of 1.12% from 2014 to 2020.

• Salmon and trout was the largest application segment for aquaculture in fish oil, which accounted for about 66.91% of market share in 2013. The revenue was USD 854.7 million in 2013 and is expected to reach USD 1,498.7 million in 2020.

• Europe was the largest regional market for fish oil accounting for 491.5 kilo tons of demand in 2013. High level of consumer awareness regarding the benefits of fish oil in terms of omega 3 proteins is the key factor responsible for high share.

• Key participants in global fish oil market include EPAX AS, Croda Inc., Omega Protein Corporation and COPEINCA ASA.

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For the purpose of this study, Grand View Research has segmented the global fish oil market on the basis of application and region:

Fish Oil Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)

            • Aquaculture

                    • Salmon & Trout

                    • Marine Fish

                    • Carp

                    • Tilapias

            • Direct Human Consumption

            • Others

Fish Oil Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)

            • North America

            • Latin America

            • Europe

            • Asia Pacific

            • RoW