The scope of “The Insight Partners” recent study, titled “The global Fish Oil Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Species Type (Blue Whiting, Anchoveta, Sardine, Capelin, and Others) and Application (Pharmaceuticals, Animal Nutrition and Pet Food, Aquaculture, Dietary Supplements, and Others),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
Fish oil is basically derived from the tissues of various species of fish that contain omega 3 fatty acids, such as eicosapentaenoic acids (EPA) and docosahexaenoic acids (DHA). Fish oil helps in improving the cardiovascular system and helps in the proper functioning of the nervous system.
Fish oil is being increasingly consumed as it provides various health benefits to consumers. The numerous health benefits provided by fish oil include reducing the risk of death due to heart attack, dangerous abnormal heart rhythms, lowering triglycerides, and strokes. It also reduces the risk of cardiovascular disease, lowers blood pressure as well as slows down the buildup of atherosclerotic plaques.
Fish oil is being increasingly considered as one of the most valuable nutrients for both humans and livestock as it is a rich source of omega 3 fatty acids and also contains a great amount of vitamin A and vitamin D, which is essential for the human body. The omega 3 fatty acids which are present in fish oil is considered essential for the geriatric population as it helps in reducing the risk of chronic diseases and most importantly older consumers are keen to take preventive measures in terms of heart, cognitive, eye and joint deterioration.
The increased consumer awareness about the various health benefits provided by fish oil is driving the growth of the fish oil market across the world. Various studies have suggested that the consumption of fish oil during pregnancy may help to reduce the risk of asthma in the child and reduce infant allergies. Apart from this, it also helps improve cognitive performance among adults between the age of 52 and 71.
Thus, various health benefits associated with fish oil are driving the growth of this market.Fish oil is extracted from the tissue fat of several fatty fish species, such as herring, mackerel, anchovies, sardines, carp, and tuna. It acts as a rich source of omega-3 fatty acids, vitamin A, vitamin D, and zinc. Fish oil offers numerous health benefits in reducing high blood pressure, lowering the risk of cardiovascular diseases, boosting metabolism, maintaining digestive functioning, and improving skin health.
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The global fish oil market is segmented into five main regions—The North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). In 2020, North America was the fastest-growing region in the global market.
The North America fish oil market is growing due to factors, such as the rise in the adoption of anchovy-based fish oil in developed nations and the increase in the product launches from the key market players in the region. According to the U.S. Department of Health & Human Services, 6 out of every 10 adults in the U.S. have a chronic disease. An increasing prevalence of such chronic diseases in North America is leading to high demand for fish oil, aiding the market.
Based on the application, the fish oil market is bifurcated into pharmaceuticals, animal nutrition and pet food, aquaculture, dietary supplements, and others. The pharmaceutical segment held the largest fish oil market share, based on application in 2020. In the pharmaceutical industry, fish oil is available in non-prescription and prescription-only varieties at different concentrations. Non-prescription fish oils become part of the consumer’s multivitamin regimen and effectively supplement their diets with healthy fatty acids.
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