Navigating the Seas of Success: Fish Oil Products Market Outlook

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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Market Size and Growth:

The fish oil products market has witnessed robust growth over the past decade, and this trend is expected to continue in the coming years. The increasing prevalence of chronic diseases like cardiovascular disorders, diabetes, and obesity has led consumers to seek dietary supplements to improve overall health. Fish oil supplements have emerged as a popular choice due to their potent omega-3 content.

Moreover, the growing trend of health-conscious consumers is fueling the demand for fish oil products. People are now becoming more conscious of their dietary choices and are actively seeking products that can offer health benefits beyond traditional nutrition.

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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Key Trends:

  1. Rising Demand for Plant-Based Alternatives: As veganism and plant-based diets gain popularity, the demand for fish oil alternatives sourced from algae is increasing. Algal oil is a sustainable and vegan-friendly source of omega-3 fatty acids, appealing to a broader consumer base.
  2. Focus on Sustainability: Consumers are becoming more concerned about the environmental impact of their dietary choices. As a result, sustainable fishing practices and certifications like Marine Stewardship Council (MSC) are gaining importance, encouraging fish oil manufacturers to adopt eco-friendly measures.
  3. Product Innovation: Manufacturers are continually striving to introduce innovative fish oil products, such as flavored fish oil supplements, easy-to-swallow mini capsules, and personalized dosage options, to attract new consumers.

 

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