The U.S. and South America fish oil market size was valued at $677.6 million in 2019, and is projected to reach $1,119.4 million by 2027, registering a CAGR of 9.8% from 2021 to 2027. The salmon segment was the highest contributor to the market in 2019, and is estimated to grow at a CAGR of 10.4% during the forecast period. U.S. was the highest revenue contributor, accounting for more than half of the market share in 2019, and is estimated to grow at a CAGR of 8.8% through the forecast period.
Fish oil is derived from the tissues of fish with high fat content. It serves as a rich source of the essential nutrient, omega-3 fatty acid. Regular consumption or supplementation of fish oil has been associated with improving conditions such as clinical depression, rheumatoid arthritis, cancer, and macular degeneration. In addition, fish oil plays a vital role in maintaining a healthy balance between omega-3 and omega-6 fatty acids, which helps in reducing the inflammatory processes in the human body. Moreover, it helps in lowering the risks of coronary heart diseases and maintaining normal blood pressure and normal bold lipid level. Furthermore, it serves as a beneficial supplement for pregnant women and kids, as it is an important component in balanced nutrition.
fish oil is included in the category of products that is purchased by consumers occasionally and the demand for such products remains consistent among consumers. The outbreak of the novel coronavirus has significantly affected the growth of the U.S. and South America fish oil market. The recent outbreak of COVID-19 pandemic has reinforced the idea of healthy diet and has encouraged consumers to invest more on dietary supplements and functional food to improve immunity. This, in turn, has increased the demand for fish oil supplements and omega-3 fortified food among consumers, thereby positively impacting the sale of fish oil in the U.S. and South America.
The growth of the U.S. and South America fish oil market can be attributed to changes in the food consumption pattern of people all around the world. The expanding retail market and easy availability of the product through various sales channel makes it very convenient for the consumers to purchase fish oil supplements. This helps drive the sales figures and makes way for the market growth. Rise in concern about inflammatory diseases among people has led to rise in purchase of omega-3 supplements. Moreover, increase in awareness about the effect of nutrition-deficient diet on long-term health has encouraged consumers to invest more on supplementation and functional food, which has boosted the sale for supplements such as whey protein, multivitamins, and omega-3 capsules. Furthermore, rise in popularity of fish oil supplements among the fitness community is anticipated to create remunerative opportunities for the expansion of the fish oil marketHowever, rise in the adoption of veganism, shortage of raw fish due to unfavorable weather and fishing quota restrictions act as the major restrain for the fish oil market. On the contrary, rise in the popularity for fish oil among ageing population and growing application of fish oil in functional food is expect to open avenue for the U.S. and South America fish oil market growth.
The U.S. and South America fish oil market is segmented into type, application, and country. By type, the market is segregated into salmon, cod, anchovy, tuna, trout, and others, including mackerel, sardines, herring, and menhaden. On the basis of application, it is bifurcated into dietary supplements and functional food. Country wise, it is analyzed across the U.S., Mexico, Brazil, Argentina, and rest of Latin America
By Type
Salmon was the lasrgest and fastest growing segment.
Based on the U.S. and South America fish oil market analysis by type, the salmon was the most prominent segment with the highest share in the U.S. and South America fish oil market, and is estimated to exhibit a CAGR of 9.5% during the forecast period. This is attributed to easy availability and high popularity of salmon among the populace. The anchovy segment is also subject to high growth of 9.1% throughout the forecast.
By Application
Functional food was the fastest growing segment.
Based on the U.S. and South America fish oil market forecast by application, the dietary supplement segment garnered the highest share in 2019, and is expected to register at a notable growth rate of 9.6%, owing to increase in awareness among consumers about nutrition. Regular food and especially the fast food cannot meet the micro and macro nutrients required, as a result consumers are investing in supplements to cater to their daily nutritional needs. However, the functional food segment is anticipated to exhibit the highest CAGR of 12.5% from 2021 to 2027.
By Country
Brazil was the fastest growing segment.
By country, the U.S. was the dominant market, contributing the largest market share in the U.S. and South America fish oil market. The growth is attributed to higher awareness about the benefits of balanced nutrition among the populace in this country. Moreover, higher disposable income coupled with increase in prevalence of various diseases such as rheumatoid arthritis and inflammation have encouraged people to invest in omega-3 fish oils, which is aids in alleviating such symptoms. However, Brazil is expected to depict the highest growth rate of 13.5%, owing to increase in popularity of health supplements among the local populace.
By region, Asia-Pacific was the most prominent region in the U.S. and South America fish oil market and is expected to garner high growth rate in the forecast period.The Europe and North America market is also expected to witness steady growth rate throughout the forecast period owing to presence of a large number of local players in the region.
The players in the U.S. and South America fish oil industry have adopted productlaunch as their key development strategy to increase profitability and improve their stance in the U.S. and South America fish oil market share. The key players profiled in the report includeOmega Protein Corporation, FMC Corporation, Nordic Naturals, Wileys's Finest, Barlean's, Optimum Nutrition, Nuzena LLC, Nutrigold, the Nature's Bounty, and Colpex International.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current U.S. and South America fish oil market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists in determining the prevailing U.S. and South America fish oil market opportunities.
- The major countries in South America along with U.S. are mapped according their revenue contribution the industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
U.S. and South America Fish Oil Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Country |
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 Key Market Players | WILEY’S FINEST, BARLEAN’S, NATURE’S BOUNTY CO.(KKR & CO. INC), OPTIMUM NUTRITION, INC., COLPEX INTERNATIONAL, NUTRIGOLD INC., FMC CORPORATION, NUZENA LLC, NORDIC NATURALS, OMEGA PROTEIN CORPORATION |
Analyst Review
As per the perspective of CXOs of top-level companies, innovation is the key for the growth of the fish oil market in terms of value sales. In addition, increase in popularity of dietary supplements and rise in application of fish oil in functional foods such as infant formula and functional ice creams have boosted the growth of the fish oil market.
The CXOs further added that surge in demand for long chain omega-3 fatty acid primarily drives the growth of the U.S. and South America fish oil market. However, impositions on the fishing quota and adverse climatic conditions such as the El Nino—an irregular and complex series of climatic changes—impede the market growth. Presently, the inclusion of omega-3 derived through various sources, including fish has increased, owing to the trend of health eating. On the contrary, CXOs are concerned about the increasing demand–supply gap, which leads to fluctuations in price of fish oil. However, CXOs optimistic about the rising demand for omega 3 in human nutrition applications, such as pharmaceutical and supplements & functional foods, which, in turn, fosters the market growth.
U.S. and South America Fish Oil Market is expected to grow at a CAGR of 9.8% from 2021-2027.
U.S. and South America Fish Oil Market is expected to reach a market size of $1,119.4 millions by 2027.
Sample of the report can be acquired from the official allied market research website.
Rise in the adoption of veganism, shortage of raw fish due to unfavorable weather and fishing quota restrictions act as the major restrain factor for the U.S. and South America fish oil market.
The forecast period for the report is 2021-2027.
The U.S. and South America fish oil market is segmented into type, application, and country.
Growing adoption of functional food and rise in popularity of omega-3 supplements are some of the key trends in the U.S. and South America Fish Oil market.
Rise in the popularity for fish oil among ageing population and growing application of fish oil in functional food is expected to open avenue for the U.S. and South America fish oil market growth.
The key players profiled in the report include Omega Protein Corporation, FMC Corporation, Nordic Naturals, Wileys's Finest, Barlean's, Optimum Nutrition, Nuzena LLC, Nutrigold, the Nature's Bounty, and Colpex International.
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