Fish oil products: Key market research findings
- Endurable credentials for fish oil products
- Growing preference for fish oil with high concentration of EPA and DHA
Technavio has released a new market research report on the global fish oil products market, which is expected to grow at a CAGR of around 1.5% between 2016 and 2020. Fish oil contains omega-3 fatty acids that are known to support general health and wellness as well as help prevent and cure numerous health conditions. Consumers are shifting toward fish oil products, and the availability of wide assortment of fish oil supplements will further boost the demand. Europe accounts for 47% of the total market share owing to increased consumption of fish oil products as nutritional and health supplements.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Credible accreditation and clear labeling are the important factors that are defining the purchase of fish oil products. Newly launched fish oil products display labels that mention that the fish has been sourced traceably and responsibly. This holds greater prominence owing to the rising concerns over mercury contamination of certain fish species. Some of the quality and sustainability accreditations regarding fish oil products include Friend of the Sea and International Fish Oil Standards (IFOS). It is a project that promotes fish derived from safe and sustainable sources including fisheries and aquaculture farms. IFOS is a third-party testing and affirmation program that rates fish oils in terms of safety and purity, and is done for raw materials and finished products,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Various health organizations are highlighting the importance of consuming fish oil products with high concentration of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Fish oil contains more than 60% combined concentration of EPA and DHA. These long-chain omega-3 fatty acids are more potent than short-chain fatty acids like alpha linoleic acid (ALA) found in plant sources like flaxseeds. This makes fish oil sources more lucrative for use in pharmaceutical and nutraceutical industries, as smaller quantities of fish oil in products or supplements will provide the required nutritive value in a single-serve dosage form.
The key players in the global fish oil products include Arbee Biomarine Extracts, Barlean’s, COLPEX, Copeinca, Croda, FF Skagen, FMC, GC Rieber Oils, Marvesa, Nordic Naturals, Nutrifynn Caps, Omega Protein, Pesquera Diamante and Wiley’s Finest. The market is highly fragmented because of the presence of numerous small and large vendors. The vendors in the market compete on the basis of numerous factors such as price, quality, innovation, service, reputation, distribution, and promotion. To survive and succeed in a stiff competitive environment, it becomes imperative for vendors to distinguish their product and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Fish Oil Products Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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