Fish Oil Omega-3 Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Fish Oil Omega-3 Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global fish oil omega-3 market is projected to grow at a CAGR of 9.1% during the forecast period 2020-2025.

Key Highlights

• Fish oil omega-3 market is driven by the research and development efforts that are channelized toward improving the procurement practices, enhancing the extraction process of omega-3 fatty acids, and sustainably streamlining the entire value chain of the industry.
• Health experts across the world have substantially increased the recommended daily dietary intake of omega-3 fatty acids, as a result of which, the fish oil consumption has increase consequentially. The rise in perceived health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, is also driving the market.

Key Market TrendsRising Demand of omega-3 derived from Anchovy

Peruvian anchovy has some of the highest concentrations of EPA and DHA polyunsaturated fatty acids of any fish species. Although eaten as whole fish, the majority of Peruvian anchovy are turned into fish oil for feed and capsules, as well as fishmeal, mainly used in aqua-feeds. Anchovies are a good source of omega-3 fatty acids, protein, and important vitamins and minerals in each serving. In addition, anchovies have one of the lowest mercury concentrations among all fish types, making them a safe and nutritious option, when consumed in moderation.

Asia-Pacific Dominates the Global Market

The increasing ageing population coupled with rising health trend and awareness among the general consumers have increased the consumption of dietary supplements with in the region majorly pulling up the fish oil omega-3 market. China is one of the world’s largest producers of fishmeal and oil. However, it is primarily focusing on the production of high-quality pharma grade fish oil to increase its application in the pharmaceutical industry. Also, in Japan, the consumption of nutritional and pharmaceutical grade fish oil has significantly increased due to rising health concerns among the country's geriatric population. Moreover, according to the United Nations Statistical Office, fish oil exports in Japan increased by 21.58% in 2017. South Korea and Southeast Asian countries hold significant market share in Rest of Asia-Pacific fish oil market.

Competitive Landscape

The Global Fish Oil Omega-3 market is highly fragmented. Croda International Plc, Omega Protein Corporation, BASF SE, and Pelagia AS constitute as few of the key players in the market. Companies operating in the fish oil omega-3 market engage in diversified business models, the most common one is where a company has its own fishery vessel for the procurement of fish, followed by integration into fish and fish products. For instance: Olevea Group is a family owned company that experiences vertical integration from sustainable sources and fully refined fish oils. Thus, providing unique solutions for its clients and final consumers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Koninklijke DSM N.V.
Croda International Plc
Omega Protein Corporation
BASF SE
GC Rieber
TripleNine Group
Pelagia AS
Olvea Group

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