The thriving aquaculture industry, the health benefits of fish oil, the growing demand from supplement & functional food applications, and the rising demand for fish oil among the aging population, are contributing to market growth.
New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL FISH OIL MARKET FORECAST 2021-2028" - https://www.reportlinker.com/p06020241/?utm_source=GNW
Fish oil is derived from oily fish tissues with omega-3 fatty acids like docosahexaenoic acids (DHA) and eicosapentaenoic acids (EPA).Omega-3 fatty acids are primarily used in animal nutrition & pet feed, functional food, pharmaceuticals, etc.
With significantly declining marine species, there have been government regulations to restrict wild fish catching.This has resulted in the rise of aquaculture, an effective intervention that involves fish rearing in artificially controlled environments.
This offers a stable and secure environment leading to steady fish supplies.Fish oil is the primary ingredient for the aquafeed, given its high production and protein yield.
With the flourishing aquaculture industry, fish oil consumption is on the rise. This significantly drives the market growth. However, the unfavorable climatic conditions, stringent government regulations, and lack of fish oil supply, hinder the market growth.
The global fish oil market growth analysis entails the evaluation of North America, Asia Pacific, Europe, and rest of world.The Asia Pacific is assessed to be the largest region in terms of the revenue share by 2028.
The region is majorly driven by the aquaculture industry, and fish oil is mainly consumed as an aquafeed ingredient in India, China, and Japan.
The variations in product quality and pricing is set to result in intense rivalry among the fish oil manufacturers. Colpex International, FMC Corporation, Copeinca AS, Omega Protein Corporation, Corpesca SA, etc., are among the key players in the market.
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