North America Fish Oil Market Forecast 2021-2028
The North America fish oil market is predicted to record a CAGR of 4.73% in terms of volume and 7.06% in terms of revenue during the forecast period, 2021-2028. The growing demand for omega-3 fatty acid has resulted in increased consumption of fish oil in the region. Also, Health Canada recommends the intake of DHA (docosahexaenoic acids) and EPA (eicosapentaenoic acids) for fish oil use in supplements & functional food and pharmaceutical applications. Such factors propel market growth.
The North America fish oil market growth evaluation includes the analysis of Canada and the United States. Canada is one of the leading aquaculture producers in the North American region. A moderate amount of revenue generated in the country is by the international trading of aquaculture products like Chinook salmon, trout, and Atlantic salmon. Fish oil is an essential feeding ingredient for these carnivorous fish species. Also, omega-3 fish oil is utilized in several human nutrition applications in Canada. Moreover, the Canadian government has set specific standards for nutritional supplements, including fish oil. This is in lieu of providing pure and healthy nutritional supplements. Consumers are increasingly becoming aware of the health benefits of omega-3 fatty acids. At the same time, they are concerned with contamination issues. Such factors are set to be conducive to market growth in Canada.
Some of the leading companies in the market are Pesquera Diamante SA, Marvesa Holdings NV, Omega Protein Corporation, Pesquera Exalmar, FMC Corporation, Royal DSM NV, etc.
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