Fish Oil Market 2028 Industry Revenue, Size, Share and Trend
The fish oil market was valued at US$ 2,087.39 million in 2021 and is projected to reach US$ 3,178.28 million by 2028. It is expected to grow at a CAGR of 6.2% from 2021 to 2028.
Fish oil is derived from tissues of various fish species and includes omega-3 fatty acids, such as eicosapentaenoic acids (EPA) and docosahexaenoic acids (DHA). They provide various health benefits, including reduced risk of death due to heart attack, dangerous abnormal heart rhythms, lowered triglycerides, and strokes.
In 2020, Asia Pacific dominated the global fish oil market and is expected to retain its dominance during the forecast period. The rising awareness related to health benefits and the rich nutritional profile of fish oil is driving the fish oil market growth across the region. Along with this, the increased prevalence of chronic diseases across various countries in the region is leading to increased demand for fish oil. For instance, in Australia, fifty percent of Australians are estimated to have at least 1 of 8 selected common chronic disease conditions: cancer, cardiovascular disease, mental health conditions, arthritis, back pain and problems, chronic obstructive pulmonary disease, asthma, and diabetes. These factors are expected to aid the demand growth of fish oil across the region.
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Fish Oil Market: Strategic Insights
Fish Oil Market
-
CAGR (2021 - 2028)
6.2%
-
Market Size 2021
US$ 2.09 Billion
-
Market Size 2028
US$ 3.18 Billion
Market Dynamics
GROWTH DRIVERS
- Increasing health consciousness among consumers
- Rising demand for omega-3 supplements
- Growing awareness about the benefits of fish oil for heart health
- Expansion of the dietary supplements industry
- Rising prevalence of chronic diseases like cardiovascular diseases and arthritis
- Increasing adoption of fish oil in functional foods and beverages
- Growing geriatric population
- Expansion of e-commerce channels for dietary products
- Surge in pet care and animal nutrition demand
- Rising consumer preference for natural and organic products
- Technological advancements in fish oil extraction and purification
- Government initiatives promoting healthy lifestyles
- Growth in demand for vegan and plant-based alternatives
FUTURE TRENDS
- Increased demand for algae-based omega-3 alternatives
- Growth in personalized and targeted nutrition solutions
- Rise in plant-based and vegan fish oil substitutes
- Advancements in sustainable and traceable sourcing practices
- Development of bio-enhanced fish oil for better absorption
- Increasing integration of fish oil into functional beverages
- Focus on clean-label and minimal processing products
- Growth in fish oil-based nutraceuticals and cosmeceuticals
- Rising popularity of high-potency omega-3 formulations
- Expansion of fish oil use in mental health and cognitive function products
- Increased transparency in sourcing and sustainability efforts
- Focus on premium, high-quality fish oil products
OPPORTUNITIES
- Expansion into emerging markets
- Development of sustainable and eco-friendly sourcing methods
- Increasing demand for personalized nutrition
- Rising popularity of fish oil-based skincare products
- Growing use of fish oil in pet supplements
- Opportunity for fortified functional foods
- Advancements in fish oil encapsulation technologies
- Launch of innovative fish oil-based formulations
- Increasing focus on plant-based omega-3 alternatives
- Strategic partnerships with healthcare and wellness brands
- Growth in demand for fish oil in sports nutrition
- Consumer interest in plant-based or algae-based omega-3 oils
Key Players
- PESQUERA EXALMAR S A A
- OMEGA PROTEIN CORPORATION
- PELAGIA AS
- COPEINCA
- COPLEX INTERNATIONAL S A C
- TRIPLENINE
- FF SKAGEN A S
- DSM
- CRODA INTERNATIONAL PLC
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Species Type
- Blue Whiting
- Anchoveta
- Sardine
- Capelin
Application
- Pharmaceuticals
- Animal Nutrition and Pet Food
- Aquaculture
- Dietary Supplements
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Fish Oil Market: Strategic Insights
-
CAGR (2021 - 2028)6.2% -
Market Size 2021
US$ 2.09 Billion -
Market Size 2028
US$ 3.18 Billion
Market Dynamics
- Increasing health consciousness among consumers
- Rising demand for omega-3 supplements
- Growing awareness about the benefits of fish oil for heart health
- Expansion of the dietary supplements industry
- Rising prevalence of chronic diseases like cardiovascular diseases and arthritis
- Increasing adoption of fish oil in functional foods and beverages
- Growing geriatric population
- Expansion of e-commerce channels for dietary products
- Surge in pet care and animal nutrition demand
- Rising consumer preference for natural and organic products
- Technological advancements in fish oil extraction and purification
- Government initiatives promoting healthy lifestyles
- Growth in demand for vegan and plant-based alternatives
- Increased demand for algae-based omega-3 alternatives
- Growth in personalized and targeted nutrition solutions
- Rise in plant-based and vegan fish oil substitutes
- Advancements in sustainable and traceable sourcing practices
- Development of bio-enhanced fish oil for better absorption
- Increasing integration of fish oil into functional beverages
- Focus on clean-label and minimal processing products
- Growth in fish oil-based nutraceuticals and cosmeceuticals
- Rising popularity of high-potency omega-3 formulations
- Expansion of fish oil use in mental health and cognitive function products
- Increased transparency in sourcing and sustainability efforts
- Focus on premium, high-quality fish oil products
- Expansion into emerging markets
- Development of sustainable and eco-friendly sourcing methods
- Increasing demand for personalized nutrition
- Rising popularity of fish oil-based skincare products
- Growing use of fish oil in pet supplements
- Opportunity for fortified functional foods
- Advancements in fish oil encapsulation technologies
- Launch of innovative fish oil-based formulations
- Increasing focus on plant-based omega-3 alternatives
- Strategic partnerships with healthcare and wellness brands
- Growth in demand for fish oil in sports nutrition
- Consumer interest in plant-based or algae-based omega-3 oils
Key Players
- PESQUERA EXALMAR S A A
- OMEGA PROTEIN CORPORATION
- PELAGIA AS
- COPEINCA
- COPLEX INTERNATIONAL S A C
- TRIPLENINE
- FF SKAGEN A S
- DSM
- CRODA INTERNATIONAL PLC
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Species Type - Blue Whiting
- Anchoveta
- Sardine
- Capelin
Application - Pharmaceuticals
- Animal Nutrition and Pet Food
- Aquaculture
- Dietary Supplements
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Wide Range of Applications of Fish Oil in Different Industries
Fish oil is increasingly used in various industries, such as pharmaceuticals, dietary supplements, animal nutrition and pet food. It finds significant application in pharmaceuticals and is considered natural oil or EPA-DHA concentrates. It is also used for animal feed as it provides growth-promoting effects and is an inexpensive energy source. Apart from this, it is also used in pet food and helps strengthen the dogs' immune system while it also helps fight canine cancer. Fish oil is also used as a dietary supplement where the capsules are traditionally made using gelatin that covers the oil in the soft-gel capsules. Thus, the usage of fish oil in different industries is driving the fish oil market growth.
Species Type Insights
Based on the species type, the fish oil market is bifurcated into blue whiting, anchoveta, sardine, capelin, and others. In 2020, the sardine segment was the fastest-growing segment in the market. Sardine is a small, herring-like fish with various nutritional benefits similar to other fishes such as salmon. The oil extracted from sardine is also used as a lubricant and is mostly used in paints, varnishes, biofuels, and linoleum.
Pesquera Exalmar S.A.A.; Omega Protein Corporation; Pelagia AS; Copeinca; Coplex International S.A.C; Triplenine; FF Skagen A/S; DSM; Croda International PLC; and BASF SE are the key players operating in the fish oil market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.
Report Spotlights
- Progressive trends in the fish oil industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global fish oil market from 2019 to 2028
- Estimation of the demand for fish oil across various industries
- Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for the fish oil
- Market trends and outlook coupled with factors driving and restraining the growth of the fish oil market
- Understanding regarding the strategies that underpin commercial interest with regard to the global fish oil market growth, aiding in the decision-making process
- Fish oil market size at various nodes of market
- Detailed overview and segmentation of the global fish oil market as well as its industry dynamics
- Fish oil market size in various regions with promising growth opportunities
Fish Oil Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2.09 Billion |
| Market Size by 2028 | US$ 3.18 Billion |
| Global CAGR (2021 - 2028) | 6.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Species Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The "Global Fish Oil Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the trend analysis of the global fish oil market. The report aims to provide an overview of the market with detailed market segmentation. The fish oil market is analyzed on three fronts: Species type, application, and geography. Based on the species type, the market is bifurcated into blue whiting, anchoveta, sardine, capelin, and others. Based on application, the fish oil market is bifurcated into pharmaceuticals, animal nutrition and pet food, aquaculture, dietary supplements, and others. Based on geography, the fish oil market is segmented into five main regions—North America, Europe, Asia-Pacific, the Middle East and Africa, and South and Central America.
Company Profiles
- BASF SE
- Copeinca
- Coplex International S.A.C
- Croda International PLC
- DSM
- FF Skagen A/S
- Omega Protein Corporation
- Pelagia AS
- Pesquera Exalmar S.A.A.
- Triplenine
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Species Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on species type, the sardine segment was the fastest-growing segment in the market. Sardine is a small, herring-like fish with various nutritional benefits similar to other species such as salmon. The oil extracted from sardine is also used as a lubricant and is mostly used in paints, varnishes, biofuels, and linoleum.
In 2020, the blue whiting segment accounted for the largest fish oil market share, based on species type. Blue whiting is one of the cod family species and one of the most abundant fish stocks in the semi-pelagic water masses of the Northeast Atlantic. The fish oil derived from blue whiting is a potential source of omega-3 fatty acids.
The market for the pharmaceuticals segment is expected to grow at a faster pace during the forecast period. In various countries, such as Japan, the consumption of nutritional and pharmaceutical-grade fish oil is significantly increasing due to the surge in the presence of the geriatric population, which is likely to result in the rise in demand for pharmaceutical-grade fish oil for various health benefits.
Fish oil is associated with various health benefits and helps in reducing the risk of cardiovascular diseases, lowers blood pressure, and slows the buildup of atherosclerotic plaques. Fish oil is also considered one of the valuable nutrients for both humans and livestock. Fish liver oil and fish body oil are the two types of fish oil. Fish oil is a rich source of Omega-3 fatty acids and includes the presence of vitamins and minerals, such as vitamin A and vitamin D, which are essential for the human body. In addition, the DHA present in fish oil improves memory and cognitive function and plays an important role in the development of an infant's brain. Thus, such health benefits are increasing the demand for fish oil across the world.
The major key players operating in the global fish oil market include Pesquera Exalmar S.A.A.; Omega Protein Corporation; Pelagia AS; Copeinca; Coplex International S.A.C; Triplenine; FF Skagen A/S; DSM; Croda International PLC; and BASF SE.
In 2020, Asia Pacific dominated the global fish oil market. The region is expected to continue its dominance during the forecast period. Trends in this market are influenced by the increasing awareness about the health benefits of omega-3, present abundantly in fish oil. Omega-3 fatty acids are beneficial for the geriatric population as it helps in reducing the risk of chronic diseases and provide preventive measures in terms of heart, cognitive, eye, and joint deterioration.
The List of Companies - Global Fish Oil Market
- PESQUERA EXALMAR S.A.A.
- OMEGA PROTEIN CORPORATION
- PELAGIA AS
- COPEINCA
- COPLEX INTERNATIONAL S.A.C
- TRIPLENINE
- FF SKAGEN A/S
- DSM
- CRODA INTERNATIONAL PLC
- BASF SE
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