The market is expected to generate an incremental $ opportunity of US$ 1,444.0 Mn between 2022 and 2032
Category: Food & Beverages Published Date : November 2022 ID: CVC-00497 Format: PDF Pages: 340
Fish Oil Capsules Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Fish Oil Capsules Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 1,825.9 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.0% and is expected to reach a valuation of US$ 3,269.9 Mn by 2032 end.
Preventive care is becoming increasingly popular among consumers as a tool to support them in leading healthier lifestyles. Because they are a great source of vitamins, proteins, and minerals and offer health advantages for conditions like cancer, asthma, depression, and others, omega-3 supplements are becoming increasingly popular.
GROWING PREFERENCE FOR HEALTHY FOOD DRIVES THE MARKET FOR FISH OIL CAPSULES
Rising consumer preference towards healthy food supplements is the key growth driver for the global fish oil supplement market. Also, recent studies have shown that consuming foods rich in fish oil supplements has led to protecting the skin and the teeth and helping build muscles. As a result, the demand for fish oil supplements is expected to rise and, in turn, bolster the overall fish oil supplement market.
STRINGENT GOVERNMENT HAMPER THE MARKET GROWTH
Stringent restrictions regulating the fishing sector and environmental policies regarding fish catches could restrain the EPA/DHA (Omega 3) ingredients market growth. These constraints will limit product demand, affecting product sales and producer income. Countries such as China and Peru have imposed very strict rules on the number of fish catches to maintain an ecological balance. This will negatively affect fish oil production.
A WIDE RANGE OF OPPORTUNITIES EXIST DUE TO THE CONNECTIVITY OF A RAPIDLY AGING POPULATION
Omega-3 fatty acid, found in fish oil, is very important for older people because it lowers their risk of chronic diseases. Most importantly, older people want to take steps to avoid problems with their eyes, brain, and joints. As more people learn that omega-3 is good for their health, they will buy it. Since many people are expected to die in the next 65 years, the market for omega-3 fish oil will grow a lot.
Customers now prioritize prevention over reaction as a result of the coronavirus outbreak. Immune health, heart health, and general well-being are becoming more and more important to consumers. The AHA states that people with a stroke and those with heart conditions such as high blood pressure and congenital heart defects may be more susceptible to consequences if they contract COVID-19. The demand for supplements to reduce the risk of heart failure surged, which helped boost the sales of the products.
Market Segments Covered in Report
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By Product :
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Why Does the Use of Fish Oil in Pet Food and Animal Nutrition Drive Market Growth?
Supplementing fish and other marine-derived products in the diet of dairy cows results in increased levels of long-chain fatty acids. This increases the shelf life, improves butterfat quality, and produces a more consistent product. Fish liver oil has been found to help prevent skin diseases such as ichthyosis, epilepsy, and seborrheic dermatitis and is widely used in many commercial animal feeds.
Why is Anchovy Oil projected to ensure the most revenue during the forecast period?
At 34.9% of the market, Anchovy Oil had the greatest revenue share. Anchovies are highly nutritious and have many health benefits. According to the U.S. Food and Drug Administration (FDA), anchovies are high in omega-3 fatty acids, proteins, vitamins, and minerals, all of which contribute to a healthy environment. Using fish oil in aquaculture is also fuelling global demand for anchovy oil. Fish body oil is made from sardine, mackerel, and salmon oil, among others. Fish body oil is becoming increasingly popular due to its numerous health advantages.
Why is the Dietary Supplements segment expected to expand the fastest during the forecast period?
In 2021, The adult Dietary Supplements segment accounted for the highest revenue share of over 43.0% 2021, particularly from sales of omega-3 supplements. Sales growth is credited to the healthy lifestyle craze among working adults who need more omega-3-rich dietary supplements to maintain their body’s health. Further contributing to this trend is increasing interest in sports and exercise and an increase in the number of athletes across different age groups globally.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The market is extremely fragmented and marked by fierce competition, with publicly traded companies and privately held market players putting a strong emphasis on innovation to remain competitive. Public enterprises in the sector take the initiative to launch initiatives that hasten their products’ adoption on the international market. Major manufacturers are heavily spending on R&D projects and capacity expansion to create fresh goods and increase their market share.
Some of the key developments that have taken place in the Fish Oil Capsules Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for
|USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
|Key regions covered
|North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
|Key countries covered
|US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
|Key segments covered
|By Grade, Product, Process, End User, Sales Channel, Region
|Available upon Request
|Pricing and purchase options
|Available upon Request