Fish Oil Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Opportunity Company Analysis

Fish Oil Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Growth, Outlook, Impact of COVID-19, Opportunity Company Analysis

Global Fish Oil Market is expected to reach US$ 2.8 Billion by 2027. Globally fish oil is an essential nutrient and constitutes adequate omega-3 fatty acids that can be easily absorbed. Fish oil also contains a significant amount of vitamin A and D, necessary for the human body. Notably, fish liver oil and fish body oil are the two types of fish oil. Moreover, fish oil contains both eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Further, fish oil is also recognized as the most valuable nutrient for aquaculture and direct human consumption.

Worldwide Fish Oil Market Size was US$ 2.3 Billion in 2021

Recently, fish oil has been the fastest growing trend in the global industry. In addition, advancing awareness about the health benefits leads to increased consumption. Further, the ever-increasing aquaculture industry is also increasing the consumption of fish oil globally. Besides, an increasing number of people with cardiovascular and heart diseases worldwide are also leading to an increase in the consumption of fish oil, boosting the fish oil market globally. Moreover, increasing the nutraceuticals industry leads to an increase in the consumption of fish oil as a healthy supplement, which is also expected to boost the fish oil market in the near future.

The Market and Volume of Anchovy Is Gaining Traction Worldwide:

The Fish Oil Market based on the species can be further segmented into Anchovy, Blue whiting, Sardines, Capelin, Menhaden, Norway Pout, Sand eel, Sprat, and Others. The market and volume for Anchovy are owing to the aspects such as the increase in understanding about the existence of docosahexaenoic acids (DHA) in anchovy-based fish oil and the rise in the product launches of anchovy-based fish oils is gaining traction worldwide. Moreover, the growing investment by the key players to develop anchovy-based fish oils is also driving the growth of the Fish Oil Market altogether.

Vietnam: The World's Largest Producers of Fish Oil

Globally, the increasing aging population coupled with rising health trends and awareness among general consumers have increased the consumption of dietary supplements, which is a significant factor in the fish oil market. As per our analysis, Vietnam is the world's largest fish oil producer. Further, Vietnam primarily focuses on producing high-quality pharma-grade fish oil to increase its application in the pharmaceutical industry. Also, in Japan, nutritional and pharmaceutical-grade fish oil consumption has increased dramatically due to rising health concerns among the country's geriatric population. Moreover, Chile and USA also hold significant market share as producers in the global fish oil market.

Top Fish Oil Importing Countries Market & Volume Insights:

Our report has provided a complete study of top fish oil-importing countries, such as China, Norway, Denmark, Chile, Canada, and the United States. The report enfolds all the countries mentioned above, complete analysis of past and future import trends and their market value. Norway has long been known for the domestic need for fish and fish products, the increased consumption relies on imports. Remarkably, the import regime in Norway is also very liberal; there is no restriction on imports of fish and fish products.

Fish Oil Exporting Countries Market & Volume Insights:

Our report covered top fish oil exporters, countries such as Peru, Denmark, Norway, Chile, the United States of America, and China with their complete analysis of market & value and historical and forecast information. The export of fish oil is further expected to witness decent growth throughout the forecast period with the rising demand from countries like Japan and Vietnam. According to Renub Research report, Worldwide Fish Oil Industry is expected to expand at a CAGR of 3.3% during 2021-2027.

Impacts of COVID-19 on Fish Oil Growth Trends:

As the COVID-19 pandemic lingered on, the effect on the fish oil market had been worsening. Remarkably, the impact of the COVID-19 pandemic continued to dominate the outlook for the global fish economy. In particular, the supply of fish oil was under pressure, consequently declining the market in 2019 and 2020 across the world. Supply, consumption, and trade contracted in 2020 due to the various effects of widespread virus containment measures on-demand, logistics, prices, business operations, and planning. Nevertheless, positive fish oil industry growth continues as fish oil remains the preferred choice among consumers due to its added benefits to humankind.

Renub Research latest report “Fish Oil Market, Global Forecast By Species (Anchovy, Blue whiting, Sardines, Capelin, Menhaden, Norway Pout, Sand eel, Sprat and Others), Application (Aquaculture, Direct Human Consumption and Others), Aquaculture (Cyprinids, Eels, Crustaceans, Marine fish, Salmonids, Tilapias and Others), Producing Countries (Peru, United States, Chile, China, Japan, Norway, Vietnam, Denmark, Iceland, India, Morocco, Ecuador and Rest of The World), Importing Countries (China, Norway, Denmark, Chile, Canada, the United States and Others), Exporting Countries (Peru, Denmark, Norway, Chile, the United States of America, China and Others)” provides a detailed analysis of Global Fish Oil Industry.

Species - Market & Volume Analysis have been done from 9 viewpoints:

1. Anchovy
2. Blue whiting
3. Sardines
4. Capelin
5. Menhaden
6. Norway Pout
7. Sand eel
8. Sprat
9. Others

Application - Market & Volume Analysis have been done from 3 viewpoints:

1. Aquaculture
2. Direct Human Consumption
3. Others

Aquaculture - Market & Volume Analysis have been done from 7 viewpoints:

1. Cyprinids
2. Eels
3. Crustaceans
4. Marine fish
5. Salmonids
6. Tilapias
7. Others

Producing Country - Market & Volume Analysis have been done from 13 viewpoints:

1. Peru
2. United States
3. Chile
4. China
5. Japan
6. Norway
7. Vietnam
8. Denmark
9. Iceland
10. India
11. Morocco
12. Ecuador
13. Rest of The World

Top Importing Country - Market & Volume Analysis have been done from 7 viewpoints:

1. United States
2. China
3. Norway
4. Denmark
5. Chile
6. Canada
7. Others

Top Exporting Country - Market & Volume Analysis have been done from 7 viewpoints:

1. Peru
2. Denmark
3. Norway
4. Chile
5. United States
6. China
7. Others