07.01.13
The global market for fish oil was valued at $1.1 billion in 2011 and is expected to reach $1.7 billion in 2018, growing at a CAGR of 5.05% from 2012 to 2018, according to a new report published by Albany, NY-based Transparency Market Research titled “Fish Oil Market for Aquaculture, Direct Human Consumption, Hydrogenation and Industrial Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018.”
In terms of volume, the demand for fish oil was 1,035 kilotons in 2011 and is expected to reach 1,130 kilotons in 2018, growing at a CAGR of 1.22% from 2012 to 2018. Demand for fish oil is expected to increase as a result of the spike in demand for omega 3 ingredients. Fish oil is the primary source of omega 3s, and with growing consumer awareness of their health benefits more people are increasing their intake as part of a regular diet. However, the reduced or static production levels of fish oil act as major inhibitors 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, the report said.
Aquaculture was the largest application segment in 2011, accounting for more than 70% of the consumption of oil. The majority of fish oil is consumed in the farming of salmon 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.
In terms of volume, the demand for fish oil was 1,035 kilotons in 2011 and is expected to reach 1,130 kilotons in 2018, growing at a CAGR of 1.22% from 2012 to 2018. Demand for fish oil is expected to increase as a result of the spike in demand for omega 3 ingredients. Fish oil is the primary source of omega 3s, and with growing consumer awareness of their health benefits more people are increasing their intake as part of a regular diet. However, the reduced or static production levels of fish oil act as major inhibitors 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, the report said.
Aquaculture was the largest application segment in 2011, accounting for more than 70% of the consumption of oil. The majority of fish oil is consumed in the farming of salmon 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.