Global Fish Oil Market Report 2024, Industry Trends, Growth, Size and Forecast Till 2032

The latest report by IMARC Group, titled “Fish Oil Market Report by Source (Anchoveta, Sardine, Capelin, Menhaden, Herring, Anchovy, and Others), Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online Stores, and Others), End Use (Aquaculture, Animal Feed, Nutritional Supplements, Pharmaceutical, and Others), and Region 2024-2032“, The global fish oil market size reached US$ 2.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.61% during 2024-2032.

Factors Affecting the Growth of the Fish Oil Industry:

  • Increasing Health Awareness about Consumers:

The heightened awareness regarding health and wellness is a significant driver of the fish oil market. Fish oil is rich in omega-3 fatty acids, which are crucial for maintaining heart health, reducing inflammation, and supporting brain function. As consumers become more conscious of their dietary choices and seek foods that offer health benefits, the demand for omega-3 supplements has increased. This trend is further bolstered by the aging global population, which is more prone to chronic diseases and more attentive to preventive healthcare measures. Market research indicates that the demand for dietary supplements, including fish oil, is increasing at a steady rate. Moreover, endorsements by healthcare professionals and fitness experts have reinforced the credibility and perceived necessity of omega-3 fatty acids, propelling the fish oil market forward.

  • Expanding Aquaculture Industry:

Aquaculture, or fish farming, significantly contributes to the demand for fish oil as it is a primary ingredient in aquafeeds. The growth of the aquaculture industry is driven by the decline in natural fish stocks and the increasing demand for seafood as a protein source worldwide. Fish oil is essential in the diets of farmed fish to ensure their healthy development and high-quality produce. Regions such as Asia-Pacific, which leads in fish farming, particularly in countries such as China, Vietnam, and Indonesia, have witnessed robust growth rates in aquaculture, further fueling the demand for fish oil. The market dynamics are influenced by the need for sustainable and efficient feed options, where fish oil plays a critical role due to its nutrient-rich profile that promotes optimal fish growth and health.

  • Stringent Environmental Regulations:

Environmental sustainability concerns have led to stringent regulations regarding fishing practices and bycatch reduction, influencing the fish oil market. These regulations ensure that the sourcing of fish oil is more controlled, with a strong emphasis on environmental conservation and sustainable fishing practices. Certification programs, such as those from the Marine Stewardship Council (MSC), play a crucial role in maintaining standards that prevent overfishing and ensure the ecological balance is maintained. This regulatory environment affects the supply side by limiting over-exploitation of resources and also boosts consumer confidence in fish oil products that are certified as sustainably sourced. Consequently, these regulations encourage industry players to innovate and invest in alternative sources and more efficient extraction and processing technologies, which could sustain the long term growth of the market.

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Competitive Landscape with Key Player:

  • China Fishery Group Limited
  • Corporación Pesquera Inca S.A.C. (Copeinca AS)
  • Camanchaca, FF Skagen A/S
  • Foodcorp Chile S.A (Austevoll Seafood ASA)
  • OLVEA Fish Oils (OLVEA)
  • Oceana Group Limited
  • Pesquera Diamante S.A.
  • Pioneer Fishing
  • TripleNine Fish Protein A/S (TripleNine Group).

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Source:

  • Anchoveta
  • Sardine
  • Capelin
  • Menhaden
  • Herring
  • Anchovy
  • Others

Sardine dominates the market as they are abundant, cost-effective, and have high omega-3 fatty acid content, making them an ideal raw material for fish oil production.

Breakup by Distribution Channel:

  • Hypermarkets and Supermarkets
  • Specialty Stores
  • Online Stores
  • Others

Based on the distribution channel, the market has been divided into hypermarkets and supermarkets, specialty stores, online stores, and others.

Breakup by End Use:

  • Aquaculture
    • Salmon and Trout
    • Marine Fish
    • Crustaceans
    • Tilapias
    • Others
  • Animal Feed
  • Nutritional Supplements
  • Pharmaceutical
  • Others

Aquaculture represents the largest segment as it heavily relies on fish oil for developing high-quality, nutrient-rich feed essential for the optimal growth and health of farmed fish.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Europe’s dominance in the fish oil market is attributed its robust regulatory framework supporting sustainable fishing practices, high consumer awareness about the health benefits of omega-3 fatty acids, and significant presence of leading fish oil manufacturers.

Global Fish Oil Market Trends:

Technological innovations have significantly improved the efficiency and yield of fish oil extraction and processing. These advancements help in maintaining the integrity of oil, ensuring higher purity and quality, which is crucial for both dietary supplements and pharmaceutical applications. Improved processing technologies also allow manufacturers to minimize waste and reduce environmental impact, aligning with global sustainability goals. This technological edge helps meet the rising standards of consumers and regulators, making products more appealing in competitive markets. Other than this, there is a growing trend of pet ownership globally, coupled with an increasing awareness about pet health and nutrition. Pet owners are more attentive to the dietary needs of their animals, leading to a higher demand for omega-3 enriched pet food to ensure their pets’ health and vitality. Fish oil is a key component in many formulations of pet food, especially for dogs and cats, to aid in their cognitive development, coat health, and overall well-being. This rise in pet care and premiumization of pet food products directly influences the demand for high-quality fish oil.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact US

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Email: sales@imarcgroup.com
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Fish Oil Market Size of Key Players, Share Analysis, Price and Revenue Forecast 2024-2032

The latest report by IMARC Group, titled “Fish Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, The global fish oil market size reached US$ 2.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.61% during 2024-2032.

Fish oil is a dietary supplement derived from the tissues of oily fish. It is rich in omega-3 fatty acids, specifically eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which are essential for various aspects of health, including heart, brain, and eye health. Fish oil is widely consumed for its potential benefits in reducing inflammation, supporting cardiovascular health, and promoting brain function. The process of making fish oil involves several steps. It typically begins with the selection of suitable fish species known for their oil content, such as mackerel, salmon, tuna, or sardines. The fish are usually obtained from fisheries or aquaculture farms. Once caught, the fish are transported to processing facilities. The first step in the manufacturing process is the separation of fish oil from the fish’s flesh. The fishes are cleaned and their heads, tails, and other undesirable parts are removed. The remaining fish are then cooked, often through steaming or boiling, to facilitate the release of oil from the fish tissues. The cooked fish are pressed or centrifuged to extract the oil, leaving behind the solid residues. After extraction, the fish oil undergoes a refining process to remove impurities and unwanted components. This involves processes such as filtering, degumming, and distillation to remove contaminants, heavy metals, and other undesirable substances. The refined fish oil is then packaged and sold as a dietary supplement in various forms, including capsules, liquid oils, or as an ingredient in functional foods.

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Fish Oil Market Trends and Drivers:

One of the primary factors driving the market is the growing consumer awareness regarding the health benefits associated with fish oil consumption. Fish oil is known for its high content of omega-3 fatty acids, which are essential for heart health, brain function, and inflammation reduction. The increasing prevalence of chronic diseases, such as cardiovascular disorders and cognitive decline, has also encouraged consumers to seek natural dietary supplements like fish oil to support their health and well-being. Additionally, the expansion of the aquaculture industry is creating a positive market outlook. Fish oil is widely used in aquaculture feed to enhance the growth, development, and overall health of farmed fish. With the rising demand for fish and seafood products, the aquaculture industry has witnessed substantial growth. Consequently, the demand for fish oil as a crucial ingredient in fish feed has also increased, contributing to the growth of the global fish oil market. Besides this, the animal feed industry also plays a significant role in driving the fish oil market. Fish oil is used as an ingredient in animal feed formulations for various livestock, including poultry, swine, and cattle. It is recognized for its nutritional value, promoting growth, and improving feed conversion efficiency in animals. As the demand for high-quality animal protein rises, particularly in developing countries, the animal feed industry is expected to grow, consequently driving the demand for fish oil. Other than this, omega-3 fatty acids, specifically EPA and DHA found in fish oil, are associated with numerous health benefits, including heart health, brain function, and eye health. As consumers increasingly recognize the importance of omega-3 fatty acids in their diet, the demand for fish oil as a convenient source of these essential nutrients is growing. Furthermore, factors such as expanding pharmaceutical and nutraceutical industries, technological advancements in fish oil extraction and refining processes, and the development of sustainable fish oil production methods are also propelling the market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Source:

  • Anchoveta
  • Sardine
  • Capelin
  • Menhaden
  • Herring
  • Anchovy
  • Others

Breakup by Distribution Channel:

  • Hypermarkets and Supermarkets
  • Specialty Stores
  • Online Stores
  • Others

Breakup by End Use:

  • Aquaculture
    • Salmon and Trout
    • Marine Fish
    • Crustaceans
    • Tilapias
    • Others
  • Animal Feed
  • Nutritional Supplements
  • Pharmaceutical
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • China Fishery Group Limited
  • Corporación Pesquera Inca S.A.C. (Copeinca AS)
  • Camanchaca
  • FF Skagen A/S
  • Foodcorp Chile S.A (Austevoll Seafood ASA)
  • OLVEA Fish Oils (OLVEA)
  • Oceana Group Limited
  • Pesquera Diamante S.A.
  • Pioneer Fishing
  • TripleNine Fish Protein A/S (TripleNine Group).

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 |United Kingdom: +44-753-713-2163

Fish Oil Market Growth 2022-2027, Industry Size, Share, Trends and Forecast

According to IMARC Group’s latest report, titled “Fish Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global fish oil market is expected to exhibit a CAGR of 6.5% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Fish oil refers to the tissue fat extracted from various fish species, such as mackerel, anchovies, herring, sardines, carp, tuna, etc. It acts as a rich source of vitamin A, vitamin D, omega-3 fatty acids, zinc, etc. Fish oil offers several health benefits, including boosting metabolism, maintaining digestive functioning, reducing high blood pressure, lowering the risk of cardiovascular diseases, improving skin health, etc. As a result, it finds extensive utilization across various sectors, such as food and beverage (F&B), pharmaceutical, animal feed, nutritional supplements, agriculture, etc.

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The escalating product requirement in the form of nutritional supplements on account of the rising prevalence of cardiovascular ailments, excessive hair fall, obesity, premature skin aging, etc., among individuals is among the primary factors driving the fish oil market. Besides this, the elevating demand for this tissue fat in the pharmaceutical industry, owing to the high amount of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA), is further augmenting the market growth. Apart from this, the growing usage of fish oil in several personal grooming products to protect against dermatological disorders, including wrinkles, dark circles, pigmentation, etc., is also catalyzing the global market. Moreover, the increasing need for this ingredient in the poultry and livestock sector as a feed additive for enhancing animal growth and controlling disease outbreaks is acting as another significant growth-inducing factor. Furthermore, the emerging trend of organic product variants with allergen-free, non-GMO, and chemical-free content is expected to propel the fish oil market in the coming years.

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List of Key Companies Covered in this Market Report:

China Fishery Group Limited
Corporación Pesquera Inca S.A.C. (Copeinca AS)
Camanchaca
FF Skagen A/
Foodcorp Chile S.A (Austevoll Seafood ASA)
OLVEA Fish Oils (OLVEA)
Oceana Group Limited
Pesquera Diamante S.A.
Pioneer Fishing
TripleNine Fish Protein A/S (TripleNine Group).
Market Segmentation:

Breakup by Source:

Anchoveta
Sardine
Capelin
Menhaden
Herring
Anchovy
Others

Breakup by Distribution Channel:

Hypermarkets and Supermarkets
Specialty Stores
Online Stores
Others

Breakup by End Use:

AquacultureSalmon and Trout
Marine Fish
Crustaceans
Tilapias
Others
Animal Feed
Nutritional Supplements
Pharmaceutical
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800