Increasing Demand For Fish Oil In Human Consumption Significant For Global Food Grade Fish Oil Market

Fish oil is a major food source of omega-3 fatty acids, whose diverse health benefits have been prompting the market growth. Consequently, the demand from the food grade fish oil market has obtained a novel sales channel in the form of direct human consumption. The growing demographic of health-conscious citizens across the globe is therefore expected to drive market during the forecast period (2019-2026). The consumption of fish still leads the consumption of extracted fish oil, primarily due to the better palatability of fish. As per food and agriculture organization of the united nations, more than 75% of the global fish production is employed for direct human consumption. Additionally, over 50 different types of shellfish and fish products are being exported to 75 countries across the globe as per National Fisheries Development Board (NFDB) India. Similarly, the fish production in India during 2017-18 was estimated to be around 12.60 million metric tonnes, of which approximately 50% of the total production is from culture fisheries and constitutes nearby 6.3% of the global fish production. The availability of fish oils is also increasing, in developed regions, due to the establishment of preservation technologies and commendable storage. This is also projected to remain a major driving factor for the global food grade fish oil market during the forecast period.

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Increasing consumer awareness regarding health benefits is anticipated to push food grade fish oil demand.

Fish oil is widely utilized in several animal and human nutrition applications as a food and feed supplement owing to its high content of essential long chain omega-3 fatty acids. The increasing health concerns and growing incidence of lifestyle-related diseases across the globe have given a push to the integration of fish oil omega-3 ingredients in nutritional application.  Moreover, the consumption of dietary supplements support consumers to stay healthy by strengthening the immune system and lessening the probabilities of contracting allergies, diseases, and other disorders. Thus, the growing awareness of preventive healthcare, with the nutritional benefits of consuming dietary supplements is anticipated to drive the demand for dietary supplements, consequently for the food grade fish oil market during the forecast period.  Fish oil is one of the most frequently consumed dietary supplements, which gives significant health benefits. In addition, in 2017, as per the Council for Responsible Nutrition of united states, 76% of Americans take dietary supplements and this percentage is up from 64% in 2008.