Europe Fish Oil Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Species Type (Blue Whiting, Anchoveta, Sardine, Capelin, and Others), Application (Pharmaceuticals, Animal Nutrition and Pet Food, Aquaculture, Dietary Supplements, and Oth

Europe Fish Oil Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Species Type (Blue Whiting, Anchoveta, Sardine, Capelin, and Others), Application (Pharmaceuticals, Animal Nutrition and Pet Food, Aquaculture, Dietary Supplements, and Others)

The Europe fish oil market is expected to grow from US$ 591.86 million in 2021 to US$ 937.59 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. There is a rise in the health problems due to a deficiency of omega-3 fatty acids the rest of the region. Consumer preference for food supplements in the form of pills over liquid or other forms has dragged the attention of manufacturers toward launching easy to consume food supplements. The increasing demand for and supply of fish oil supplements across the region would provide significant growth opportunities for the market during the forecast period. Fish oil supplements are gaining popularity due to rising awareness about their health benefits, as fish oil contains high protein levels and essential vitamins and minerals. Around 30% of fish oil is made of omega-3s, while the remaining 70% is made of other fats. They also contain vitamin A and D. Recent studies have also unveiled the benefits of fish oil supplements in maintaining skin health and gaining muscle strength and bodybuilding. The growing consumption of supplements by large athlete population across the region is expected to bolster the demand for omega-3, thereby providing opportunities for the growth of the fish oil manufacturers.

The Europe fish oil market is segmented on the basis of species type, application, and country. Based on species type, the market is segmented into blue whiting, anchoveta, sardine, capelin, and others. In 2021, the blue whiting segment accounted for the largest market share. However, the sardine segment is expected to register the highest CAGR during the forecast period. Blue whiting is a fish species of the cod family, which is widespread and common in Northeast Atlantic. Blue whiting fish oil is a potential source of omega-3 fatty acids. With the rising adoption of healthy lifestyle, the demand for fish oil is also expected to increase in the coming years.

In Europe, France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain. The massive outbreak created a temporary distortion in operation efficiencies of industrial bases in the European market. The market for fish oil has been negatively impacted due to limited operational capabilities due to COVID-19 restrictions. However, the rising demand for fish oil across diverse industrial applications is expected to substantially promote market growth in the region.

The overall Europe fish oil market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe fish oil market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe fish oil market. Mergers and acquisitions, and market initiatives are a few of the major activities undertaken by the companies, which have promoted the market growth. Companies operating in the market are TRIPLENINE, FF SKAGEN A/S, DSM, CRODA INTERNATIONAL PLC, BASF SE, COPLEX INTERNATIONAL S.A.C, and PELAGIA AS.

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