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
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Fish Oil Market: Strategic Insights
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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 Regional Insights
The regional trends and factors influencing the Fish Oil Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fish Oil Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Fish Oil Market
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 |
Fish Oil Market Players Density: Understanding Its Impact on Business Dynamics
The Fish Oil Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fish Oil Market are:
- PESQUERA EXALMAR S.A.A.
- OMEGA PROTEIN CORPORATION
- PELAGIA AS
- COPEINCA
- COPLEX INTERNATIONAL S.A.C
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Fish Oil Market top key players overview
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
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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.
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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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