Squid Oil Market Report 2025

The squid oil market size has grown strongly in recent years. It will grow from $4.94 billion in 2024 to $5.35 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to global market growth, alternative to fish oil, cosmetics and skincare industry, sustainability practices, regulatory influence.

The squid oil market size is expected to see strong growth in the next few years. It will grow to $7.16 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to market expansion strategies, sustainability measures, pharmaceutical and nutraceutical demands, consumer preferences, regulatory environment. Major trends in the forecast period include pharmaceutical and nutraceutical demand, sustainability practices, health and wellness trends, research and development, alternative to fish oil.

The rising consumption of seafood is expected to drive the growth of the squid oil market in the future. Seafood includes aquatic creatures such as fish, shrimp, octopuses, and other marine animals that humans consider food. Squid oil is a rich source of omega-3 fatty acids and serves as a sustainable seafood option that may help alleviate the symptoms of rheumatoid arthritis. For example, in March 2024, Fisheries and Oceans Canada, a Canadian government department, reported that Snow/Queen Crab consumption reached 61,266 metric tonnes in 2023, an increase from 48,446 metric tonnes in 2022. Additionally, the total consumption of crab and other species was 22,217 metric tonnes in 2023, compared to 24,313 metric tonnes in 2022. Thus, the growing consumption of seafood is propelling the growth of the squid oil market.

The increasing health consciousness among consumers is expected to contribute significantly to the growth of the squid oil market. Health-conscious consumers prioritize making healthier lifestyle choices, including dietary preferences that promote overall well-being. Squid oil, known for its high content of omega-3 fatty acids, is favored by health-conscious individuals for its potential benefits in supporting heart health and reducing inflammation. A survey conducted by DSM, a Netherlands-based science-based company, in August 2022 revealed that 73% of participants expressed their intention to prioritize healthier eating and drinking habits. As a result, the rising health consciousness among consumers is identified as a key driver in the growth of the squid oil market.

Product innovation stands out as a significant trend gaining traction in the squid oil market, with major players actively focusing on developing innovative solutions to maintain their market positions. A notable example is the January 2022 launch by Jinka, a US-based seafood producer, of the world's first fully prepared plant-based calamari - a perishable frozen product named Jinka's tempura-battered ring. This plant-based calamari replicates the flavor and texture of traditional squid while offering protein and omega-3 fatty acids.

Leading companies in the squid oil market are particularly invested in advancing their product portfolios, including fish oil solutions, to enhance nutritional supplements and broaden applications in pharmaceuticals and cosmetics. Fish oil solutions typically involve concentrated and purified forms of omega-3 fatty acids for improved health benefits. In October 2023, DSM-Firmenich AG, a Switzerland-based solutions provider known for its natural and renewable ingredients, introduced Life’s Omega O3020. This product features an exclusive single-source algal omega-3 supplement, maintaining a natural EPA to DHA ratio similar to standard fish oil but with twice the potency. The innovative Life’s Omega O3020 empowers dietary supplement brands to enrich their omega-3 offerings with a sustainable algal alternative, providing enhanced flexibility in addressing crucial health concerns and appealing to eco-conscious consumers.

In January 2023, Brasmar, a Portugal-based provider of sea products, acquired Holmes Seafood for an undisclosed amount. This acquisition strengthens Brasmar's presence in the British market, allowing for increased commercialization of its sea products. Holmes Seafood, based in the UK, is a producer of squid products.

Major companies operating in the squid oil market include 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. Ltd., Tianjin YR Chemspec Technology Co. Ltd., Shen Zhen Simeiyue Tech Co. Ltd., OLVEA Fish Oils, Aker BioMarine, Croda International Plc, Omega Protein Corporation, GC Rieber Oils, SeaDragon Marine Oils Limited, LYSI hf, Solutex GC, Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd., Pacific Andes International Holdings Limited, Pesquera Exalmar S.A.A., Rimfrost AS, Sireal, TASA, Triplenine Group, China National Fisheries Corporation, COPEINCA ASA, Pescanova, Omega S.A.

Asia-Pacific was the largest region in the squid oil market in 2024. Europe is expected to be the fastest-growing region in the global squid oil market report during the forecast period. The regions covered in the squid oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the squid oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Squid oil is a purified, winterized, and deodorized fatty oil derived from the body of squid. Rich in omega-3 fatty acids, this oil serves as a beneficial source for heart, brain, and eye health.

The primary types of squid oil culture include freshwater, marine, and brackish water. Freshwater pertains to naturally occurring water that is not saline, fit for consumption, and has minimal dissolved salts. These variations of squid oil are available through diverse distribution channels, including online retailers, health food stores, and specialty supplement stores. They find applications in various industries such as fertilizers, aquaculture, and pharmaceuticals.

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.

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.

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.

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