Pune, India -- (SBWIRE) -- 02/07/2020 -- The reports on Fish Oil Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2023. The global fish oil market is projected to reach USD 4.12 billion by 2023, growing with a CAGR of 4.7% from 2017 to 2023.

Infinium Global Research has recently published a premium report on the global fish oil market delivering key insights and providing a competitive advantage to clients through a detailed report. Fish oil is largely used as a feed ingredient in numerous animal and human nutritional applications, which include aquaculture feed, animal nutrition & pet feed, pharmaceuticals, supplements & functional food.

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Growing Occurrence of Heart-Related Disorders Based On Changing Food Patterns Boost the Demand for Fish Oil Over the Forecast Period

According to the WHO, cardiovascular diseases (CVDs) are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Four out of 5CVD deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age.

Fish oil is loaded with two key omega-3 fatty acids – Docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA). Fish oil plays an important role in brain function, normal growth and development, and inflammation. Omega-3 acids can protect against thrombosis and arrhythmias especially ischemia-induced ventricular fibrillation. Considering the high burden of CVD s and the beneficial factors of fish oil, positive growth in demand for fish oil is expected during the forecast period.

Anchovy Sub-Segment is Expected to Dominate the Market During the Forecast Period

According to the analyst at Infinium Global Research, the scope of the market is analyzed on the basis of species, application, and region. The species include anchovy, mackerel, sardines, cod, herring, and menhaden among others. Furthermore, on the basis of application, the market has been segmented into aquaculture, animal nutrition & pet food, pharmaceuticals, supplements, and functional food, among others.

According to the Infinium global research analysts, based on the species, anchovy is considered an important source of fish oil. Anchovies are a rich source of omega-3 fatty acids that influence weight management, eye health, fetal development, and immunity. In addition, Anchovies have one of the lowest mercury levels among all the fish types.

By application, the aquaculture segment is expected to dominate the market during the forecast period due to the rising importance of breeding and regular stocking for fish production output.

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The Asia Pacific Dominates the Market During the Forecast Period

China is the biggest fish oil consumer in the world and this is mainly due to the highest concentration of the aquaculture industry in this region. On the other hand, rising concern for chronic disease leads to the adoption of omega 3 fish oil in countries like Japan, the U.S., Denmark, and Belgium.

Moreover, according to the United Nations Statistical Office, fish oil exports in Japan increased by 21.58% in 2017. South Korea and Southeast Asian countries hold significant market share in the Rest of Asia-Pacific fish oil market.

Competitive Analysis

The report provides a comprehensive analysis of the key companies operating in the global market. The global fish oil market is moderately concentrated with major companies involved in continuous R & D and product development. The companies covered in the report are engaged in diversified business models like companies that have its fishery vehicles for the procurement of fish. For instance, the Anchovy captured by the vessels of Copeinca AS as well as with the purchase from third parties. Fleet is processed under the highest standards of quality, ensuring a superior level of fishmeal and fish oil.

The companies covered in the report include TASA, Omega Protein Corporation, Copeinca AS, Corpesca SA, FMC Corporation, TripleNine, Pesquera Diamante S.A, Marvesa Holding N.V., Pesquera Exalmar, FF Skagen A/S and Colpex international.

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About us
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The fish oil market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the fish oil market.