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Key Players Across the World are also Focusing on Developing Quality Anchovy-Based Fish Oils, which is further Propelling the Growth of the Fish Oil Market
HYDERABAD, TELANGANA, INDIA, September 23, 2022 /EINPresswire.com / -- IndustryARC, in its latest report, predicts that Fish Oil Market size is estimated to reach $3.2 billion by 2026, growing at a CAGR of 6.4% during the forecast period 2021-2026. Fish oil is derived from the fish tissues that contain omega 3 fatty acids, such as docosahexaenoic acids (DHA) and eicosapentaenoic acids (EPA). Fish oil provides various health benefits, such as improving the cardiovascular system and enhancing the functioning of the nervous system. Fish oil is increasingly being adopted across the world owing to the growing awareness about the benefits of fish oil and the increase in the demand for omega 3 fatty acids. The rise in the adoption of anchovy-based fish oil in developed nations, increase in the demand for menhaden-based fish oils in animal nutrition, rise in awareness about the health benefits of docosahexaenoic acids (DHA), and the growing investment by the key players to develop high-quality fish oil are the factors that are set to drive the growth of the Fish Oil Market for the period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. Geographically, the North America Fish Oil Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of anchovy-based fish oil in developed nations.
2. The increase in the demand for menhaden-based fish oils in animal nutrition is driving the Animal Nutrition segment. However, adverse climatic conditions is one of the major factors that is said to reduce the growth of the Fish Oil Market.
3. Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Fish Oil Market report.
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1. The growing investment by the key players to develop anchovy-based fish oils is driving the growth of the Fish Oil Market. The Menhaden segment is estimated to be the fastest-growing segment with a CAGR of 6.7% over the period 2021-2026.
2. Fish Oil Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 28% of the overall market in 2020.
3. The growing demand for menhaden-based fish oils in animal nutrition is driving the growth of the Fish Oil Market. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in awareness about the health benefits of docosahexaenoic acids (DHA) and the growing investment by the key players to develop high-quality fish oil.
4. Aquaculture segment is estimated to be the fastest-growing segment with a CAGR of 6.9% over the period 2021-2026. This growth is owing to the factors such as the growing demand for anchovy-based fish oils and the rise in importance of regular stocking for enhancing fish production output.
The top 5 players in the Fish Oil industry are -
1. FMC Corporation
2. Colpex International
3. Pesquera Diamante S.A.
4. Omega Protein Corporation
5. Marvesa Holding N.V.
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A. Fishmeal & Fish Oil Market
B. Omega 3 Supplement Market
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