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Fish Oil Products Market is Expected to Progress at a CAGR of 5.2% through 2033

fish-oil-products-market-forecast-2023-2033

The valuation of the global fish oil products market is set at US$ 2.6 billion for 2023 and is estimated to reach US$ 4.3 billion by 2033-end. This is backed by the demand for fish oil food products being estimated to increase at a CAGR of 5.2% through 2033

Fish tissue that contains omega-3 fatty acids like docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) is used to make fish oil. Omega-3 fatty acids are increasingly employed in animal nutrition, pet food, functional foods, supplements, and aquaculture. The neurological system and the human heart can work properly thanks to this acid.

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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.

Key Driving Factors for the Fish Oil Products Industry?

“Growing Aquaculture Industry and Increased Awareness about Health Benefits of Fish Oil Products”

In recent years, the count of various marine spices has dropped at a noticeable speed. So, governments around the world are putting limitations on how much fish can be caught. These limitations are applied to keep the creatures of the sea safe.

Thus, the abovementioned factors can bring growth opportunities in the aquaculture market which is an appropriate solution. It is related to raising fish in such environments that can be controlled by human beings. In addition, raising fish on farms is more stable and much safer than raising them in wild.

“Production of by-Products and Increased Consumption of Fish Oil Products by Aging Population”

In recent years, there is a noteworthy drop in the amount of fish oil that is prepared. This reduced production can lead to the inability of different industries to match the demand for fish oil. This leads to a shift in the investment that is made in the fish oil products industry to find some alternative solutions.

Backbones, guts, and heads of fish are used to make fish oil in recent years. These leftovers are used commonly to make fish oil and fish meals. Around 31% of fish meal and fish oil are made from the waste of fish and its by-products which is further predicted to contribute to lucrative opportunities in the global market.

Competitive Landscape:

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.

Segmentation of Fish Oil Products Industry Research:

·         By Species Type:

  • White Whiting
  • Anchoveta
  • Sardine
  • Capelin
  • Salmon
  • Other Species Types

·         By Application:

  • Supplements & Functional Foods
  • Pharmaceuticals
  • Animal Nutrition & Pet Foods
  • Aquaculture
  • Other Applications

·         By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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How will be insights and market estimations provided in the Fact.MR report on the Demand of Fish Oil Products make a difference?

  • The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
  • The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
  • The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
  • Provides scrutiny of the industry trends that have shaped recent government policies
  • Provides an account of major breakthroughs in all segments that might change the course of the market considerably
  • Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Fish Oil Products  Market
  • Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
  • Evaluates the role of various stages of funding on new growth avenues in key regional markets

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