A recent analysis by Renub Research, titled “Fish Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2030,” offers thorough market share insights. The report also includes an analysis of the competitors, niches, and recent developments in the Fish Oil Market.
Fish Oil Market will rise at a CAGR of 5.89% between 2023 and 2030. Fish oil, a crucial component in aqua feed, is derived from fish tissues containing omega-3 fatty acids like EPA and DHA. These fatty acids find applications in various sectors, including aquaculture, animal nutrition, pet feed, supplements, functional food, and pharmaceuticals. Not only does fish oil enhance cardiovascular and nervous system health, but there has also been a notable uptick in its consumption. The growing awareness among medical professionals and the public regarding the significance of omega-3 fatty acids has prompted companies to expand their nutraceutical product lines, incorporating concentrated EPA and DHA. This heightened demand for EPA and DHA in human nutrition has significantly influenced the global fish oil market.
Adequate intake of omega-3 fatty acids is of paramount importance for the elderly population as it helps in mitigating the risk of chronic ailments. The preventive measures taken against heart, cognitive, eye, and joint deterioration can be attributed to the consumption omega-3. With the growing awareness of the various health benefits associated with omega-3, consumers are expected to increase their consumption of this essential nutrient. This trend is expected to significantly boost the fish oil market, particularly considering the substantial global population within the 65-and-over demographic.
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In Japan, over 25.9% of the population is 65 and above, and omega-3 fish oil is widely consumed to reduce the risk of cardiovascular diseases in the elderly. The Japanese government is encouraging people to eat more omega-3 fatty acids to help prevent chronic diseases. This pattern is forecasted to extend globally in the upcoming years, with increased consciousness of health and well-being among senior consumers becoming a driving force for the fish oil market throughout the forecast period.
The fish oil market faces impediments due to unfavorable climatic conditions. The climatic phenomenon known as El Niño, originating in the central and eastern Pacific, leads to substantial rainfall and temperature fluctuations. This significantly impacts agriculture and fishing operations along coastal regions in developing nations. El Niño also disrupts transportation in these areas, escalating transportation costs. Consequently, an alteration in climatic conditions is expected to hinder the expansion of the fish oil market. Fish Oil Market is expected to be valued at around US$ 3.62 billion by 2030, according to Renub Research.
Denmark will still dominate the Export of fish oil industry.
Meanwhile, in terms of the fish oil industry’s global market, Denmark will remain a leader in the export market. A high technology is combined with a mature fishing industry and advanced sustainable fishing techniques to make it one of the foremost exporters of fish oil of superior quality. Prior to that, Denmark itself enjoyed competitive advantages. Its location gave it control over key ports and enabled the export of important raw materials such as lumber; it had ample fish stocks at its fingertips. Therefore, future exports of fish oil from Denmark are also likely to remain strong. Besides continuing to be a force in this industry itself, it will also continue tying its fate with the fortunes of others.
Norway is the leading player in the worldwide trade of fish oil imports market.
Norway is the major player in the world fish oil import market, which is actively meeting ever-increasing demands from abroad. The strategic location of Norway and its abundant marine resources have helped this country to establish a firm position in the industry. The nation leads in the extraction and processing of fish oil to meet a range of customer specifications across the globe. Taking responsibility for the quality and sustainability of its fish oil products, as well as maintaining a reputation as a responsible supplier with an excellent image, has helped increase Norway’s prestige.
The use of fish oil in pharmaceuticals is predicted to continue its growth in the coming years.
For a long time, the pharmaceutical industry has been studying the possible health effects of fish oil. The use of fish oil in this field is set to expand even further. This growth can be ascribed to fish oil’s boatload of reported health advantages, such as its anti-inflammatory effects and ability to lower blood pressure, not forgetting that it is good for your heart. Thus, it can be foreseen that fish oil will remain an important research field for the pharmaceutical industry in the next few years.
Mackerels is sustainable source of fish oil found worldwide.
Mackerels are a type of fish found in abundance across the globe. These fish are known for their rich oil content, which makes them a popular source of fish oil. The best part is that mackerels are considered a sustainable option, which means they can be harvested without causing any significant harm to the environment or depleting their population.
The global fish Oil market comprises various remarkable companies, which include FMC Corporation, Croda International Plc., Mukka Proteins Limited, FKS Multi Agro, and GC Rieber Oil.
Global FishOil Market break up by Export in 10 viewpoints: (Peru, Denmark, the United States, China, Norway, Chile, Iceland, Morocco, France, and Japan)
Import: (Norway, China, Denmark, Canada, the United States, Chile, Turkey, Netherlands, France, and Greece)
Production: (Peru, Vietnam, Chile, USA, Japan, China, Norway, Denmark, Iceland, and Others)
Application: (Animal Nutrition & Pet Food, Aquaculture, Cosmetic & Therapeutic, Pharmaceuticals, Supplements & Functional Food, and Others)
Species: (Anchovy, Mackerel, Sardines, Cod, Herring, Menhaden, and Others)
Distribution Channel: Global Fishmeal Market has been covered by Aquaculture from 4 viewpoints (Hypermarkets & Supermarkets, Online Stores, Specialty Stores, and Others)
The Global Fish Oil Market company has been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) (FMC Corporation, Croda International Plc., Mukka Proteins Limited, FKS Multi Agro, and GC Rieber Oil)
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