Fish Oil Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Grade Coverage, Process Coverage, Product Coverage, End User Coverage, Sales Channel, Geographic Coverage and By Company)

The approximately US$12.8 Bn market for fish oil slated to reach a valuation of US$22.3 Bn by 2030

The global fish oil market, currently valued at approximately $12.8 billion, is anticipated to witness robust growth, reaching a valuation of $22.3 billion by 2030, with a CAGR of 7.2% between 2023 and 2030.

Key Trends Fueling Market Growth

Increasing Consumer Awareness: The market's growth is driven by growing consumer awareness of the health benefits associated with omega-3 fatty acids found in fish oil. Omega-3 fatty acids are known for their positive effects on heart health, brain function, and inflammation reduction, leading to a growing consumer base seeking these health advantages.

Preventive Healthcare Focus: Rising concerns about lifestyle diseases like cardiovascular disorders, diabetes, and obesity have led to increased focus on preventive healthcare. Fish oil is viewed as a natural and effective supplement to mitigate these health issues, thereby driving market growth.

Feed-Grade Dominance: In 2022, the feed-grade fish oil category dominated the industry, particularly in aquaculture and animal feed sectors, supporting the growth and health of farmed aquatic animals.

Refined Fish Oil: The refined fish oil segment is anticipated to dominate the global market. Refined fish oil undergoes extensive purification processes, resulting in a high-quality product that meets rigorous industry standards for purity and composition.

Salmon Oil Leading: The salmon oil category controlled the market in 2022, known for its rich content of omega-3 fatty acids, specifically eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), offering numerous health benefits.

Asia Pacific Dominance: The Asia Pacific region is expected to account for the largest share of the global fish oil market, driven by its economic conditions and being a hub for aquaculture.

North America Growth: The North American market is expanding due to rapid economic growth and technological advancements, increasing disposable incomes, and improved living standards.

Challenges and Barriers to Growth

Overfishing and Depletion: Overfishing and depletion of fish stocks pose a significant challenge as they directly impact the supply of fish needed for fish oil production.

Health Concerns and Misinformation: Concerns about contaminants like heavy metals and environmental pollutants in fish and fish oil, as well as misinformation, hinder market expansion.

Key Trends and Opportunities

Rising Demand for Omega-3 Fatty Acids: The increasing demand for omega-3 fatty acids is a significant driver in various industries, especially the health and wellness sector.

Growth in Aquaculture and Animal Feed: The growth in aquaculture and animal feed applications is crucial for the fish oil market, driven by the rising global demand for seafood.

Diversification of Omega-3 Sources: The diversification of omega-3 sources, including algal oil, appeals to consumer preferences and sustainability concerns.

Regulatory Scenario

Regulations significantly shape the fish oil industry, ensuring product quality, sustainability, and consumer safety. Compliance with sustainability measures is vital to gain consumer trust and ensure a sustainable future for the fish oil market.

Top Segments

Feed-Grade Dominance: Feed-grade fish oil continues to dominate the market, particularly in aquaculture and animal feed industries.

Refined Fish Oil Sales Climbing: Refined fish oil, known for its quality and safety, is gaining traction in various industries.

Salmon Oil Leads: Salmon oil, with its high omega-3 content, is a dominant segment due to its health benefits.

Regional Outlook

Asia Pacific: The region is a major contributor to the global fish oil market, driven by health consciousness and the expanding aquaculture industry.

North America: Anticipated significant growth, especially in the feed-grade fish oil segment, due to increasing seafood consumption and health awareness.

Leaders in Global Fish Oil Space

• DSM Nutritional Products
• Croda International Plc
• Omega Protein Corporation (Now a subsidiary of Cooke Inc.)
• GC Rieber Oils
• Corpesca SA
• FMC Corporation
• Maruha Nichiro Corporation
• Orizon SA
• TripleNine Group A/S
• OLVEA Fish Oils
• Pelagia AS
• Complex International
• Arbee Biomarine Extracts Pvt. Ltd.
• BASF SE
• LYSI hf.

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