Global Fish Products Market to Surpass 228.25 Million Tons by 2027 – Coherent Market Insights
SEATTLE--(BUSINESS WIRE)--Nov 26, 2019--
The global fish products market was pegged at 177.70 million tons in 2018 and is projected to exhibit a CAGR of 3.2% over the forecast period (2019 – 2027).
Fish and fish products are a major source of proteins, and are consumed all over the world by over 1 billion people, according to the World Health Organization (WHO). Major types of fish products are fishmeal and fish oil. Fishmeal is generally fed to farm animals such as pigs and chicken, and also for human consumption. Fish oil, however, is used in pharmaceutical and food industries due to its health benefits and flavor. Fish oil is also rich in zinc and iodine which is driving the market for fish products globally. Fish oil also plays an important role in increasing brain function, and reducing inflammation.
Fish products market is segmented according to products types such as fish oil, fish meal and others. Fish oil segment accounted for the largest share by volume, followed by fish meal products in 2018. The demand for fish oil is growing significantly due to its use in the pharmaceutical industry as it provides important proteins for various health problems such as cancer, cardiovascular disease, arthritis, mood disorders and others. For instance, according to IFFCO (International Fishmeal and Fish Oil Organization), fish oil is one of the important sources of omega-3 fatty acids.
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Trade barriers and import tariffs levied on exporting countries are one of the restraining factors for growth of fish products market globally. As stated by the World Trade Organization, there are numerous concerns for countries indulging in the trading of fish products other than the existing commitments in import tariffs. These concerns are in terms of technical barriers for trade, anti-dumping, subsidies, dispute resolution, and other sanitary measures.
Key Trends and Analysis of the Fish Products Market:
Key Market Takeaways:
Major Player’s operating in the fish products market include-
Omega Protein Corporation, FMC Corporation, Corpesca S.A., TripleNine Group A/S, Colpex International, FF Skagen A/S, Pesquera Diamante S.A., Marvesa Holding N.V, TASA, American Marine Ingredients, Croda Inc., and GC Rieber Oils, and Pelagia.
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Ornamental Fish Feed Market - https://www.coherentmarketinsights.com/ongoing-insight/ornamental-fish-feed-market-1297
Smoked Herring Fish Market - https://www.coherentmarketinsights.com/ongoing-insight/smoked-herring-fish-market-1814
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SOURCE: Coherent Market Insights
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PUB: 11/26/2019 09:28 AM/DISC: 11/26/2019 09:28 AM