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Global Fish Oil Market: Overview

The fat or the oil that is extracted from the tissue of fish is called fish oil. Generally, fish oil is mostly extracted from oily fish such as mackerel, anchovies, tuna, and herring. Sometimes, it is also extracted from the livers of various other fish as well, A case in point is cod liver oil, which is extracted from the livers of Atlantic cod. The global fish oil market is expected to gather momentum from the growing popularity of fish oil as usually consumed dietary supplements.

Omega-3 fatty acids are very significant for the health and fish oil comes with substantial amount of omega-3 fatty acids. According to the recommendations of World Health Organization (WHO), eating 1 to 2 portions of fish every week is good for health. This is due to the fact that omega-3 fatty acids in fish offers several health benefits thereby safeguarding against many diseases. This is estimated to bolster the growth of the global fish oil market over the years of projections

However, fish oil supplements are needed if 1 or 2 servings of fish every week is not available. In this case, these supplements help in meeting the weekly requirements of fish oil. These supplements can help in getting enough omega-3s despite not consuming fish directly. The global fish oil market is driven by the increased research and development activities to come up with improved process of extraction of fish oil. Besides, health experts across the globe have raised the recommended daily dietary intake of fish oil. As such, this has increased the consumption of fish oil, thereby bolstering growth of the market.

Application, species, and region are the three key parameters based on which the global fish oil market has been divided. The objective of such segmentation is to provide a clearer, all-inclusive view of the global fish oil market.

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Global Fish Oil Market: Notable Developments

One of the developments that offer a glimpse of the market dynamics about the global fish oil market is mentioned below:

  • In July 2019, following a joint venture between Koninklijke DSM N.V. and Evonik Industries AG, a new plant has been commissioned in the US. This new plant makes a new, special algal oil that would contain omega-3 fatty acids, which is required for the farming of healthy salmon. This algal oil is produced utilizing the process of fermentative manufacture of natural marine algae. This venture is expected to increase the sales of fish oil.

Some well-known organizations in the global fish oil market include the below-mentioned:

  • Koninklijke DSM N.V.
  • Omega Protein Corporation
  • GC Rieber
  • Croda International Plc
  • American Marine Ingredients
  • Epax Norway AS

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Global Fish Oil Market: Key Trends

The global fish oil market is characterized by the presence of the following restraints, drivers, and opportunities.

Rising Geriatric Population to Drive the Demand for Fish Oil

Direct human consumption accounts for most of the consumption of fish oil and this trend is likely to continue to over the years of projection. High demand for food supplements and functional food in certain parts of the world such as Japan, China, and India is further expected to drive the demand for fish oil. Increased consumption of long-chain (LC) –omega is estimated reduce the risk of various health issues such as Crohn’s disease, eczema, psoriasis, asthma, and cardiovascular diseases. In addition to that, growing consumption of fish oil is also known to assist in maintaining health of the brain and betters neurological development in children. This factor is estimated to create huge potential for the global fish oil market in the years to come. 

Expansion in the pool of ageing population together with the rising trend toward healthy lifestyle

is likely to drive the demand for the product. Furthermore, increased awareness amongst the consumers about the benefits of dietary supplements such as fish oil is estimated to add to the growth of the market over the years of assessment.

Peruvian anchovy fish comes with an extremely high concentrations of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) polyunsaturated fatty acids of any kind of fish species. Although anchovy eaten as a whole fish but this species of fish is mostly utilized for the purpose of extracting fish oil, which is used in the making of capsules and feed. Anchovies are a rich source of many important minerals, vitamins, protein, and omega-3 fatty acids. In addition to that, anchovies come with extremely low concentration of mercury amongst all types of fish. This makes them a very nutritious and safe option of fish oil.

Global Fish Oil Market: Geographical Analysis

China is considered one of the leading producers of fish oil, which is why the country account for a large share of the global fish oil market. However, most production of fish oil in China is meant for the making of high-quality pharma grade fish oil in a bid to increase its use in the pharmaceutical sector. In Japan, intake of pharmaceutical and nutritional grade fish oil has substantially increased owing to rising concern for health mostly amongst the ageing population of the world.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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