Reports and Data's latest report indicates that the global market for fish oil was valued at USD 2,017.10 Million in 2021 and is anticipated to experience a revenue compound annual growth rate (CAGR) of 5.8% during the forecast period. The increasing consumption of fish oil, which is known for its multiple benefits, is a significant factor contributing to the market's growth. Fish oil has been found to lower blood pressure and cholesterol levels, alleviate joint pain and morning stiffness, and reduce the risk of heart disease. Fatty fish varieties such as anchovies, sardines, and mackerel are commonly used to produce fish oil, which is usually available as a supplement in liquid or capsule form. Additionally, fish oil supplements are beneficial for managing inflammatory conditions, supporting healthy hair, pregnancy, and nursing, all of which are contributing to the market's expansion. Furthermore, taking fish oil supplements during pregnancy and nursing enhances the development of the baby's vision and decreases the likelihood of developing allergies.
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Top Companies Operating in the Global Fish Oil for Animal Feed Market Report:
American Seafoods Company LLC, Colpex International S.A.C, Croda International Plc, FMC Corporation, GC Rieber VivoMega AS, Omega Protein Corporation, Oceana Group Limited, The Scoular Company, FMC Corporation, and Sarma Fish SARL.
Major Driving Factors for Fish Oil for Animal Feed Market:
- Health benefits: Fish oil is known to have several health benefits, such as reducing the risk of heart disease, lowering blood pressure and cholesterol levels, and alleviating joint pain. As a result, the demand for fish oil is increasing as more people become aware of its health benefits.
- Growing aquaculture industry: The aquaculture industry, which is responsible for the farming of fish, is experiencing significant growth. This is leading to an increased demand for fish oil as it is used as a feed supplement for farmed fish, which require omega-3 fatty acids to grow and remain healthy.
- Increasing demand for dietary supplements: Fish oil is a popular ingredient in dietary supplements due to its health benefits. As the demand for dietary supplements continues to rise, so does the demand for fish oil.
- Rising demand from the pharmaceutical industry: Fish oil is used in the pharmaceutical industry to produce medicines and supplements. As more people seek natural and alternative treatments, the demand for fish oil in the pharmaceutical industry is expected to increase.
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The global Fish Oil for Animal Feed Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Source Outlook (Revenue, USD Billion; 2019-2030)
- Salmon
- Cod
- Anchovy
- Tuna
- Mackerel
- Sardines
- Herring
- Others
Form Outlook (Revenue, USD Billion; 2019-2030)
- Liquid
- Capsule
- Pill
Application Outlook (Revenue, USD Billion; 2019-2030)
- Aquaculture
- Animal Feed
- Functional Food & Beverages
- Dietary Supplements
- Pharmaceuticals
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online Retail
- Supermarkets & Hypermarkets
- Specialty Stores
- Others
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