A Asia Pacific Fish Oil Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Species Type (Blue Whiting

Asia Pacific Fish Oil Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Species Type (Blue Whiting, Anchoveta, Sardine, Capelin, and Others), Application (Pharmaceuticals, Animal Nutrition and Pet Food, Aquaculture, Dietary Supplements, and Others)

The Asia Pacific fish oil market is expected to grow from US$ 726.25 million in 2021 to US$ 1,061.55 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028. There is a rise in the number of health problem due to a deficiency of omega-3 fatty acids in America as well as the rest of the world. Preference of consumers towards food supplements in the form of pills over liquid or other forms has dragged the attention of manufacturers towards launching easy to consume food supplements. Fish oil supplements prove great for bodybuilding and muscle gain, but many consumers fail to reap the rewards. The increasing demand and supply of fish oil supplement all over the world would provide significant growth opportunities during the forecast period. Recently, fish oil supplements have been gaining popularity with rising awareness about their health benefits, as fish oil contains high protein levels, important vitamins, and minerals. Around 30% of fish oil is made up of omega-3s, while the remaining 70% is made up of other fats. They also contain vitamin A and D. Recent studies have also unveiled the benefits of fish oil supplements in maintaining skin health, and gaining muscle strength and bodybuilding. The growing consumption of supplements by a large athlete population worldwide is expected to bolster the demand for omega-3, thereby providing opportunities for fish oil manufacturers’ growth.

The Asia Pacific fish oil market is segmented on the basis of species type, application, and country. Based on species type, the market is segmented into blue whiting, anchoveta, sardine, capelin, and others. In 2021, the blue whiting segment accounted for the largest market share. However, the sardine segment is expected to register the highest CAGR during the forecast period. Blue whiting is a fish species of the cod family, which is widespread and common in Northeast Atlantic. Blue whiting fish oil is a potential source of omega-3 fatty acids. With the rising adoption of healthy lifestyle, the demand for fish oil is also expected to increase in the coming years.

The Asian economies have been hit hard due to the COVID-19 pandemic. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of pandemics upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia-Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia-Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdowns, which directly impact the growth of industrial sectors. However, the market is expected to witness an increase in investment by players to tap the prevailing opportunities and cater to the expanding demand for fish oil in post-pandemic times.

The overall Asia Pacific fish oil market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific fish oil market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific fish oil market. Mergers and acquisitions, and market initiatives are a few of the major activities undertaken by the companies, which have promoted the market growth. Companies operating in the market are TRIPLENINE, FF SKAGEN A/S, DSM, CRODA INTERNATIONAL PLC, and BASF SE.

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