Awareness about Health Benefits of Fish Oil Products Increasing Worldwide, Thereby Benefiting Manufacturers
Rockville, Jan. 25, 2023 (GLOBE NEWSWIRE) — According to a recently published research report by Fact.MR, a provider of market research and competitive intelligence, the projected value of the fish oil products market is US$ 4.3 billion for 2033-end. Global demand for fish oil food products is estimated to increase at a CAGR of 5.2% through 2033.
The industry of fish oil products is anticipated to grow at a moderate pace with the rising demand for ingredients that are used to produce functional food and dietary supplements. In addition, increased regulatory support to promote fishery products is also likely to aid growth opportunities in the market.
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|Historical Data||2023 – 2032|
|Value Projection (2032)||US$ 4.3 Billion|
|Growth Rate (2022-2032)||5.2 % CAGR|
|No. of Pages||170 pages|
|No. of Tables||25 Tables|
|No. of Figures||132 Figures|
Key Takeaways from Market Study
- Sales of fish oil products are likely to increase at a CAGR of 5.2% through 2033.
- The market of Canada is projected to expand at a CAGR of 4.7% through 2033.
- The current valuation of the global fish oil products industry is US$ 2.6 billion.
- Valuation of the market for fish oil products is expected to reach US$ 4.3 billion by 2033-end.
- The market in Germany is likely to expand at a CAGR of 3.2% through 2033.
“Rapid increase in the aging population, key users of fish oil products, is anticipated to bolster growth opportunities in the global market,” says a Fact.MR analyst.
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Rising traction for supplement animal diets plays a vital role in increasing the fatty acids in numerous dairy products. There are various health advantages of fish oil for animal feed that are likely to cater to the rising requirement for animal nutrition.
Further, to gain a competitive edge in the global market, industry players are entering into partnerships.
- FMC Corporation in February 2022 announced its partnership with NSPCA of South Africa. The partnership aims to expand the company’s business across the African region.
Some of the prominent initiatives that are taken by industry players include:
- FMC Corporation in April 2022 announced its new ‘Greater than Green’ platform that can be used for global sustainability. The company renewed its long-term environmental metrics through this platform.
- Triplenine Group in January 2022 announced its planning for the upcoming production of mussel meals to expand its business. This plan is decided for the coming financial year.
Key manufacturers of fish oil products include Abundant Health Ltd., Barlean’s Organic Oils, LLC, Captek Softgel International Inc., Omega Protein Corporation, Nordic Naturals, Inc., and Marine Ingredients.
Abundant Health Ltd.
Barlean’s Organic Oils, LLC
Captek Softgel International Inc.
Omega Protein Corporation
Nordic Naturals, Inc.
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Segmentation of Fish Oil Products Industry Research
- By Species Type:
- White Whiting
- Other Species Types
- By Application:
- Supplements & Functional Foods
- Animal Nutrition & Pet Foods
- Other Applications
- By Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global fish oil products market for the period of 2023-2033.
The study divulges essential insights into the market on the basis of species type (white whiting, anchoveta, sardine, capelin, salmon, other species types) and application (supplements & functional foods, pharmaceuticals, animal nutrition & pet foods, aquaculture, other applications), and across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
Fish Oil Market Insights: The global fish oil market is valued at US$ 2.1 Bn, and is expected to witness a significant growth rate at a CAGR of 5.5% to top a value of US$ 3.6 Bn by 2031.
Fish Meal Market Outlook: Expanding at a CAGR of 7%, the global fish meal market is predicted to increase from a valuation of US$ 5.6 billion in 2023 to US$ 11 billion by the end of 2033.
Fish Sauce Market Overview: The global fish sauce market is projected to expand steadily at a CAGR of 6% during the forecast period 2022-2032. Considering this steady growth along with the booming demand in the global market, the fish sauce market is expected to reach US$ 30.5 Billion by 2032
Global Fish Breeding Tank Market: Shifting preference of export from traditional markets to new markets is the latest trend that has been noticed over the years, providing high demand for fish which led to fuel the fish breeding tank market. Hybridization of fish is a common trend for discovering new species and allowing the fish breeding tank sales to grow.
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