Global fish oil market expected to reach $2.63bn by 2020

THE global fish oil market is tipped to reach $2.63 billion by 2020, according to a report last month by Allied Market Research.

Aquaculture currently holds the largest market share, but the supplement and functional food sector will evolve as one of the promising markets, said the report.

Asia Pacific would continue to be the major regional market, due to the high concentration of aquaculture in the area.

More than 50 per cent of the global fish oil is produced in Latin American countries, namely Peru and Chile; however, most of it is consumed in the Asia Pacific region and Europe.

The rising aquaculture production in Asian countries such as China, India, Vietnam and Indonesia, has led to increased usage of aquaculture grade fish oil in the region.