According
to a new market report published by Transparency Market Research
"Fish
Oil Market for Aquaculture, Direct Human Consumption,
Hydrogenation and Industrial Applications - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2012 - 2018," the
global market for fish oil was valued at USD 1.1 billion in 2011 and
is expected to reach USD 1.7 billion in 2018, growing at a CAGR of
5.05% from 2012 to 2018. In terms of volume, the demand for fish oil
was 1,035 kilo tons in 2011 and is expected to reach 1,130 kilo tons
in 2018, growing at a CAGR of 1.22% from 2012 to 2018.
The
demand for fish oil is expected to increase owing to the increased
demand for omega 3 ingredients. Fish oil is the primary source of
omega 3 and with the growing awareness of omega 3 and its benefits;
consumers are increasing their intake of omega 3 as part of regular
diet. However, the reduced or static production levels of fish oil
acts as a major inhibitor for the growth of the market. This
situation is expected to escalate due to the uneven frequency of El
Nino, which further reduces the overall fishing volumes.
Aquaculture
was the largest application segment in 2011, accounting for over 70%
of the consumption of oil. Majority of fish oil is consumed in the
farming of salmons and trout, which are primarily grown in Chile and
Peru. However, direct human consumption (DHC) of fish oil has been
increasing over the past five years due to increased awareness among
customers regarding the benefits of omega 3.
The
leading fish oil producers include EPAX AS, Croda Inc, COPEINCA ASA,
Corpesca S.A and Omega Protein Corporation among others. The report
contains company profiles of the above mentioned producers along with
other major players in the fish oil market.
- Salmon and Trout
- Marine Fish
- Carps
- Tilapias
- Others (Eels, mackerels, herrings)
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Europe
was the largest consumer of fish oil in 2011, with over 450 kilo tons
of oil consumed. Asia Pacific and Latin America are expected to be
the fastest growing regions in terms of fish oil consumption due to
growing aquaculture for carps in China and salmon farms in Chile.
Fish
Oil Market: Application Analysis
- Aquaculture
- Direct Human Consumption
- Others (Hydrogenation and Industrial)
Fish
Oil Market in Aquaculture, by Species:
Fish
Oil Market: Regional Analysis
- North America
- Latin America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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