Fish oil contains a large amount of omega-3 fatty acids, such as EPA and DHA, which are valuable nutrients for humans and animals. Fish oil is primarily used as a feed ingredient in many human and dietary livestock applications, such as aquaculture feed, animal feed, pharmaceuticals, supplements, and functional foods. Moreover, Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) omega-3 fatty acids are helpful in decreasing blood pressure, bad cholesterol, and coronary heart diseases and also improvement of memory and cognitive function of human and animal. According to Renub Research, the Global Fish Oil Market is projected to reach US$ 3 Billion by the year 2026.
The significant factors contributing to the growth of the fish oil market globally are increasing awareness about the health benefits, rising consumption, growing aquaculture industry, and an increasing number of people with cardiovascular and heart diseases across the world. The growing use of fish oil in cosmetic products is also expected to encourage market growth.
Besides, fish oil products are mainly used for aquaculture and direct human use, although the former share of use has continued to decline, and the latter has continued to rise in recent years. This pattern is projected to remain in the years to come. This means that the market, in particular the direct human consumption, has considerable scope to expand.
As per our Study, countries such as Peru, the United States, Chile, China, Denmark, Vietnam, and Japan are the leading producers of fish oil. Fish and seafood industries were also at a competitive stage of development, with major market players and government fisheries joining hands with small-scale inter- and intra-regional fishing farms, resulting in a loop of quality demand on the aquatic feed additives market.
However, there are few challenges, too, such as Government rules & regulations around the world that limit the fishing quota create a supply gap in demand that is mainly affecting the growth of the fish oil market.
Renub Research report titled “Global Fish Oil Market & Volume, Forecast by Species, Application: Aquaculture (Crustaceans, Cyprinids, Eels, Tilapias, Marine fish, Salmonids, Others), Direct Human Consumption, Others (hydrogenation and industrial), Export, Import, Production (Countries: Peru, United States, Japan, Chile, China, Norway, Vietnam, Denmark, Iceland, India, Morocco, Ecuador, Canada) Value Chain Analysis” provides a complete analysis of global fish oil market.
Request a free sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=fish-oil-market-p.php
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