Major players in the squid oil market are King Fish Products Pvt. Ltd., Bawa Fishmeal & Oil Co., Aksha Fish Meal & Oil Company, Impextraco NV, Landbridge Ltd., Coastal Group, Star Fish Exports, Qingdao Haixingyuan Biotechnology Co.
New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Squid Oil Global Market Report 2023" - https://www.reportlinker.com/p06479991/?utm_source=GNW
Ltd., Tianjin YR Chemspec Technology Co. Ltd., Shen Zhen Simeiyue Tech Co. Ltd., Fujian Dongshui Food Co. Ltd., Weihai Lotus Outdoor Co. Ltd., La Brújula, Amalgam Nutrients & Feeds Ltd., and Tinmonger.
The global squid oil market is expected to grow from $4.19 billion in 2022 to $4.56 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The squid oil market is expected to reach $6.12 billion in 2027 at a CAGR of 7.6%.
The squid oil market consists of sales of fish oil and krill oil, d-alpha tocopherol (vitamin E soy), and rosemary extract.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Squid oil refers to purified, winterized, and deodorized fatty oil obtained from the body of the squid. It has omega-3 fatty acid source that benefits the heart, brain, and eyes.
Asia-Pacific was the largest region in the squid oil market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in squid oil report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of culture included in squid oil are freshwater, marine, and brackish water.Freshwater refers to pure or processed naturally occurring water that is not salty, is fit for consumption, and contains only minimal quantities of dissolved salts.
These are sold through various distribution channels, including online retailers, health food stores, and specialty supplement stores, and are used for several applications, such as fertilizers, aquaculture, and pharmaceuticals.
The increasing consumption of seafood is expected to propel the growth of the squid oil market going forward.Seafood refers to aquatic creatures such as fish, shrimp, octopuses and other sea creatures that are regarded as food by humans.
Squid oil is a good source of omega-3 fatty acids and a sustainable source of seafood that helps soothe symptoms of rheumatoid arthritis. For instance, in June 2022, according to a report by Seafish, a UK-based non-departmental public body, seafood consumptions in UK (both at home and away from home) totaled 162.98g per person per week in 2020, an increase of 1.0% from the year before. This is equivalent to a more than one (1.16) 140-gram amount per person per week. Therefore, the increasing consumption of seafood is driving the growth of squid oil.
Product innovations are a key trend gaining popularity in the squid oil market.Major players operating in the squid oil market are concentrating their efforts on creating innovative products and solutions to sustain their position in the market.
For instance, in January 2022, Jinka, a US-based seafood producer, launched the world’s first fully prepared plant-based calamari, a type of squid. A perishable frozen product called Jinka’s tempura-battered ring imitates the flavor and texture of regular calamari or squid while also offering protein and omega-3 fatty acids.
In January 2023, Brasmar, a Portugal-based provider of sea products acquired Holmes Seafood for an undisclosed amount.This acquisition allows Brasmar to increase the commercialization of its products to British consumers by strengthening its presence in this region.
Holmes Seafood is a UK-based producer of squid products.
The countries covered in the squid oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The squid oil market research report is one of a series of new reports that provides squid oil market statistics, including squid oil industry global market size, regional shares, competitors with a squid oil market share, detailed squid oil market segments, market trends and opportunities, and any further data you may need to thrive in the squid oil industry. This squid oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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