Supplements and functional foods driving APAC fish oil market growth to 2020

05-Jan-2017 - Last updated on 05-Jan-2017 at 01:01 GMT

Supplements and functional food forms the second largest fish oil consumer segment in APAC. ©iStock

The Asia-Pacific fish oil market is forecast to grow by 5% to 2020 helping the global total to hit US$1.5bn, with supplements and functional foods tipped to be the region’s fasting-growing industry segment.

At present, aquaculture accounts for about two-thirds of the APAC fish oil market revenue, according to Allied Market Research, and China will continue to consolidate its leading position.

However, supplements and functional food forms the second largest fish oil consumer segment and will emerge as one of the fastest growing sectors over the forecast period.

Japan is responsible for two-thirds of the fish oil consumed in supplement and functional foods, with a significant rise in health concerns among Japan's elderly population fuelling omega-3 demand.

“Rising concern of chronic diseases such as cardiovascular and eye and joint deterioration is propelling the consumption of omega-3 fish oil in pharmaceutical and supplements & functional food application segments in the region,” states the firm’s Asia-Pacific Fish Oil Market Report.

Other key findings included:

· Over the forecast period, supplement and functional foods and pharmaceuticals will emerge as the most lucrative fish oil application segments.

· 80% of the Asia Pacific fish oil market is captured by China and Japan collectively.

· Most of the fish oil consumed in Asia is produced from anchovies.