Increase in health awareness among consumers and Expansion of retail market drive the growth of the U.S. and South America fish oil market. The pandemic reinforced the idea of healthy diet and encouraged consumers to invest more on dietary supplements and functional food to improve immunity. This, in turn, increased the demand for fish oil supplements and omega-3 fortified food among consumers.
According to the report published by Allied Market Research, the U.S. and South America fish oil market generated $677.6 million in 2020, and is projected to reach $1.1 billion by 2028, witnessing a CAGR of 9.8% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Shankar Bhandalkar, a Team Lead Research, Food & Beverages at Allied Market Research, stated, “Consumers today pay a lot of attention to what they consume on a daily basis. Growing instances of diseases caused by nutrient deficient diet has encouraged consumers to invest in a number of different supplements to achieve their health goals.”
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COVID-19 scenario:
- The outbreak of the Covid-19 pandemic has had a positive impact on the U.S. and South America fish oil market.
- The pandemic reinforced the idea of healthy diet and encouraged consumers to invest more on dietary supplements and functional food to improve immunity. This, in turn, increased the demand for fish oil supplements and omega-3 fortified food among consumers.
The report offers detailed segmentation of the U.S. and South America fish oil market based on type, application, and country.
Based on type, the salmon was the most prominent segment with the highest share in the U.S. and South America fish oil market, and is estimated to exhibit a CAGR of 9.5% during the forecast period. The anchovy segment is also subject to high growth of 9.1% throughout the forecast.
Based on application, the dietary supplement segment garnered the highest share in 2019, and is expected to register at a notable growth rate of 9.6%. However, the functional food segment is anticipated to exhibit the highest CAGR of 12.5% from 2021 to 2027.
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Based on country, the U.S. was the dominant market, contributing the largest market share in the U.S. and South America fish oil market. However, Brazil is expected to depict the highest growth rate of 13.5%.
The key players profiled in the report includeOmega Protein Corporation, FMC Corporation, Nordic Naturals, Wileys’s Finest, Barlean’s, Optimum Nutrition, Nuzena LLC, Nutrigold, the Nature’s Bounty, and Colpex International.
About Allied Market Research:
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