May 21, 2013 — According to a new market report published by Transparency Market Research 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.
Read the full article at The Wall Street Journal