The global market for fish oil is expected to reach $3,300.0 million by 2020, according to a new study by Grand View Research, Inc.
Fish oil demand is expected to show significant growth, following increasing human consumption, owing to rising health awareness and benefits provided by omega 3 fatty acids and other nutraceuticals.
In addition, accelerating demand for aquaculture is further expected to fuel market growth for fish oil.
Volatile fish oil prices, owing to static fish oil production, in contrast to the accelerating demand is expected to be a key challenge for market participants. Asia Pacific and Latin America are expected to be the fastest growing markets in term of demand due to increasing salmon farms in Chile and aquaculture of carps in China.
Aquaculture was the largest application segment, accounting for 772.4 kilo tons of fish oil demand in 2013 that is expected to reach 843.6 kilo tons in 2020, growing at a CAGR of 1 per cent over next six years…
Read the full article at TheFishSite.com.
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