(MENAFN – America News Hour) Kenneth Research recently added a report entitled Fish Oil Market to its warehouse of market research reports. The report offers a detailed insight into the market scenario based on the market size and volume for the forecast period i.e. 2021-2024. The fish oil market is expected to continue growing at a CAGR of 5.6% in the forecast period. Factors such as the growing advances in novel drug development and the growing health infrastructure in several countries around the world are likely to drive the growth of the market in the years to come. In addition, increasing healthcare spending, supported by individuals’ need for quality healthcare services, is also expected to contribute to market growth. According to the World Bank, current health expenditure (% of GDP) worldwide increased from 9.08% in 2001 to 9.84% in 2018. In addition, current per capita health expenditure (currently US $) increased from 492.99 USD in the year In addition, concerns about deaths from various illnesses and the need for treatment that can lower the crude death rate, which was nearly 7% (per 1000 people) in 2019, is also growing market growth drive forward in the forecast period.
“The final report will add analysis of the impact of COVID-19 on this industry.”
Globally, it is estimated at $ 2,364 million by 2024. grows with a CAGR of 5.6% from 2016 to 2024. Fish oil is extracted from the tissue of oily fish. They contain several important nutrients for humans and animals. Fish oil is made up of omega-3 fatty acids such as eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) and can be consumed as a general dietary supplement. Rising lifestyle and chronic illnesses among consumers have increased the demand for fish oil in the form of dietary supplements and functional foods. Human consumption, aquaculture, and the industrial sectors are some of the main uses for edible oil.
Growing aquaculture activities and increasing consumer knowledge of various health benefits of omega-3 are driving the growth of the fish oil market. The increasing direct human consumption and use of fish oil in cosmetics is also promoting the growth of the market. However, a large gap between supply and demand, as well as a high cost of fish oil, can hamper the growth of the market. Still, the European Food Safety Authority (EFSA) and the Food and Drug Administration (FDA) could offer growth opportunities in the years to come.
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The global fish oil market is divided into types and uses. By species, the market is divided into marine fish, salmon and trout, tilapias, carp, and others (including herring, eel, and mackerel). The application further divides the market into aquaculture, direct human consumption, and others (including industrial uses and hydrogenation).
Because of the geographic location, the global fish oil market has been divided into North America, Europe, Asia-Pacific, and RoW. The United States, Mexico, and Canada fall under North America, with Europe covering Germany, United Kingdom, France, and other countries. The Asia Pacific region includes China, India, Japan, and other countries. The rest of the world (RoW) covers South America, the Middle East and Africa.
Important companies in the fish oil market include FMC Corporation, TASA, Croda International Inc., Omega Protein Corporation, Copeinca AS, Colpex, Corpesca SA and Pesquera Diamante SA.
The main findings from the report:
The report will provide a detailed analysis of the Fish Oil Market regarding key segments such as types and application. The report will include the qualitative and quantitative analysis with market estimate for 2015-2024 period and Average Annual Growth Rate (CAGR) between 2016 and 2024
The report provides a comprehensive analysis of market dynamics including the factors and opportunities. The report provides a comprehensive regional analysis of the fish oil market.
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A profile of the key players in the fish oil market is provided, including key financial data, products and services, new developments and business strategies.
Scope of the fish oil market
Types of segments
Salmon and trout
Others (herrings, eels and mackerel)
Direct human consumption
Others (industrial uses and hydrogenation)
About Kenneth Research
Kenneth Research is a resale agency that provides market research solutions in various industries such as automotive and transportation, chemicals and materials, healthcare, food and beverage, as well as consumer goods, semiconductors, electronics and ICT, packaging and others. Our portfolio includes a range of market research insights such as market sizing and forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc.), understanding the competitive landscape and their local business, and much more. Our research experts deliver the offers efficiently and effectively within a specified time. The market study provided by Kenneth Research helps industry veterans / investors think and act wisely as they formulate their overall strategy
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