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.
The report “Fish Oil Market Analysis By
Application (Aquaculture, Direct Human Consumption) And Segment
Forecasts To 2020,” is available now to Grand View Research customers
and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/fish-oil-market
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.
• 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.
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
• 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
About Grand View Research
Grand View Research, Inc. is a market
research and consulting company that provides off-the-shelf, customized
research reports and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and energy. With a deep-seated
understanding of varied business environments, Grand View Research
provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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