Fish Oil Market to Reach USD 1.7 Billion by 2018 due to Flourishing Aquaculture Industry in China
Transparency Market Research has released a new market report entitled “Global Fish Oil Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018.\"
“Global Fish Oil Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018” shows that that the global market for fish oil will grow from USD1.1 billion in 2011 to USD1.7 billion by 2018, registering a CAGR of 5.05% between 2012 and 2018. It states that the global fish oil market sold approximately 1,035 kilo ton of fish oil in 2011, a value that is expected to rise to 1,130 kilo ton by 2018, increasing at a CAGR of nearly 1.22% over the forecast period.
The report segments the global fish oil market into key applications for fish oil, varieties of fish oil according to different species of fishes, and key regional markets.
It includes use for aquaculture, direct human consumption, and hydrogenated and industrial purposes. The market segment of fish species includes marine fish, salmon and trout, tilapias, carps, herrings, mackerels, and eels.
Aquaculture accounted for over 75% share of the global demand for fish oil in 2011.
Countries such as Denmark, Chile, and Peru are the leading producers of fish oil, collectively accounting for a more than 50% share of the market.
In terms of consumption, the European region ranks at the topmost position primarily due to the presence of trout and salmon farming in large numbers in the region. Rising demand for omega-3 fatty acids to be included as a part of a regular diet has further augmented demands for fish oil in the European market. The market for fish oil has also increased at a rapid rate in the Asia-Pacific region over the past few years, especially from China due to the flourishing aquaculture industry in the country.
A detailed financial profile of key business players operating in the fish oil market, including COPEINCA ASA, Omega Protein Corporation, EPAX AS, Colpex, and Croda Inc, is also included.
Access the full report here.