Fish Oil Market Size was valued at USD 14.9 billion in 2023. The Fish Oil industry is projected to grow from USD 15.73 Billion in 2024 to USD 21.82 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2024 - 2032).The rising frequency of use as a medicine has made it more popular, and it improves heart health are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fish oil is extracted from the fat cells of oily fish and is rich in the omega-3 fatty acids eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Many industries, including aquaculture, animal nutrition, pet food, supplements, functional foods, and pharmaceuticals, extensively use omega-3 fatty acids.
Furthermore, omega-3 fatty acid improves cardiovascular and nervous system function and plays a crucial role in the functioning of the neurological system. The rising demand for EPA and DHA in human meals has significantly affected the world’s fish oil business. Hence, the most critical factor in the growth of the fish oil market, in terms of revenue, is the development of new techniques in aquaculture.
Additionally, Older consumers are eager to take preventative measures for heart, cognitive, eye, and joint degeneration, and the omega-3 fatty acid in fish oil is crucial and very essential for lowering the risk of chronic diseases among the elderly. As the world's population ages, many people will enter the 65-and-over demographic, driving up demand for fish oil. Since more than 25.9% of the Japanese population is now 65 or older, omega-3 fish oil is widely eaten there to reduce the possibility of cardiovascular disease. Therefore, such oil condition related to fish oil products has enhanced the fish oil market CAGR globally in recent years.
However, there have been significant advances in the medical innovations to cater to the demand. For instance, some introductions of fish oil aids in improving cardiovascular system implants is another factor driving the growth of the Fish Oil market revenue.
The Fish Oil Market segmentation, based on product type, includes salmon, cod liver, and others. The salmon category held a significant share over the forecast period. The significant good of salmon oil is that it is a remarkably potent source of omega-3 fatty acids. Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) are the two main omega-3 fatty acids included in salmon oil (1Trusted Source). Studies has connected EPA and DHA consumption to a number of health advantages, including a decreased risk of heart disease, enhanced brain function, decreased inflammation and increase Fish Oil Market revenue. The liver of cod fish is used to make cod liver oil, a dietary supplement. It has vitamin A and D as well as the omega-3 fatty acids eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which are present in most fish oils.
Jan 2022: Labdoor, a company that evaluates vitamins and supplements for purity, label accuracy, and nutritional value, checked the fish oils for total omega-3s, EPA and DHA content, vitamin D content, and CLA (conjugated linoleic acid) content.
December 2019: Fast&Up, an Aeronutrix Sports Products Private Limited division, introduced Promega, a new omega-3-rich fish oil, in December 2018. The product claims that it will help with immune system and brain development.
Figure 1: Global Fish Oil By, Pharmaceuticals, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Fish Oil Market data shows been Fish oil is mainly utilized in Animal Feed, Functional Food, Functional Beverages, Dietary Supplements, and Others. The dietary supplements category held the market during the forecast period. Fish oil medications are typically goods made of a combination of the omega-3 fatty acids eicosapentaenoic acid (EPA) and docosahexaenoic acid, and they have FDA approval (DHA) as well as being utilised for nutrition, nutraceuticals also have medical applications. An item that benefits physiological function or offers defence against chronic disease may be referred to as a nutraceutical product.
Based on distribution channel, the global fish oil industry has been segmented into stores and non-store. Due to enhanced consumer experiences, the ability to purchase products with just one click, and advancements in smartphone and Internet access technology, the non- store segment had the most significant revenue share in 2022. It is also ascribed to elements like no added expenses because goods can be transported directly from suppliers.
The second fastest- growing segment in the fish oil industry is non-store. The comfort, personal service, and accessibility of a wide range of products boost the segment's revenue growth.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American fish oil market accounted for USD 6.8 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence of fish products such as omega-3 fatty acid, and Nordic naturals arctic cod liver oil and an ageing population across the region.
Further, the significant countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: FISH OIL MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s fish oil market accounts for the second-largest market share due to the availability of fish oil has many health advantages, including lowering triglycerides, preventing harmful irregular heart rhythms, and reducing the chance of fatal heart attacks. Further, the Germany Fish oil market held the largest market share, and the UK Fish oil market was the fastest-growing market in the European region.
The Asia-Pacific fish oil Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to increased rates of fish oil products. The vast growth in the region is attributable to an older population that is growing along with rising health concerns and public awareness that have increased dietary supplement use in the Asia Pacific region throughout the forecast period. Moreover, China fish oil market held the largest market share, and the Indian fish oil market was the fastest-growing market in the Asia-Pacific region.
For instance, the Indian fish oil market is the favored destination for fish oil production the clan Olivia Group offers distinctive solutions for its customers and ends users because of its vertical integration with sustainable sources and completely refined fish oils. As per the data cited in the fish companies 2022-21 published by the fish oil producer Association in July 2022, Singapore is ranked in 2nd position, Japan at 3rd, India at 10th, South Korea at 14th, and China at 33rd out of the top 46 international fish oil production destinations. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the fish oil market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the fish oil industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies manufacturers adopt in the global fish oil industryito benefit clients and expand the market sector is to manufacturing locally to reduce operating costs. In recent years, the fish oil industry has provided medicine with some of the most significant benefits. The fish oil market major players such as Oceana Group Limited (South Africa), TripleNine Group (Denmark), Pesquera Diamante (Peru), Hayduk Corporacion (Peru), and others are working on expanding the market demand by investing in research and development activities.
The Oceana Group is Africa’s largest fishing company and one of the most empowered food companies on the JSE. We operate in South Africa, Namibia, and the United States of America and market fish-based products in 46 countries, while managing a fleet of 54 vessels and eight cold storage facilities. In October 2022, The Oceana Group Limited will receive R760 million for the sale of its Commercial Cold Storage (CCS) business, allowing it to reinvest and grow its primary fishing operation. A Group buying CCS includes African Infrastructure Investment Managers (AIIM), an Old Mutual Alternative Investments affiliate focused on investing in African infrastructure;
Also, TripleNine comprises many production, trading, and sales companies in Denmark, Norway, and Chile. Core competencies – 4 main segments: Aquaculture, Agriculture, and Pet food. Some 250 employees from a wide range of nationalities are employed in TripleNine. In June 2022, Koppernaes Protein AS, based in Aalesund Norway, acquired all the shares that H.F. Industrifiskehandel ApS has now held in TripleNine Group A/S. This means that Koppernaes Protein AS now holds 98,03% of the shares in TripleNine Group A/S.
March 2020: concentration Fish Oil Market, which contains at least 200 mg of docosahexaenoic acids (DHA) and eicosatetraenoic acids, was introduced by Wiley Companies (EPA). The product is intended for dietary supplements, food, and drinks.
Feb 2022: To grow its business in the African continent, FMC Corporation formed a partnership with the NSPCA of South Africa.
North America
Europe
Asia-Pacific
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 14.9 billion |
| Market Size 2024 | USD 15.74 billion |
| Market Size 2032 | USD 21.82 billion |
| Compound Annual Growth Rate (CAGR) | 5.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End Use, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Oceana Group Limited (South Africa), TripleNine Group (Denmark), Sarma Fish SARL (Morocco), FMC Corporation (US), Blueline Foods (India) Pvt. Ltd (India), Olvea Fish Oils (France) |
| Key Market Opportunities | Growing demand for vegetable oils with hydrogen |
| Key Market Dynamics | increase in demand as a result of its medicinal benefits improves heart health |
Fish Oil Market Highlights:
Frequently Asked Questions (FAQ) :
The global cervical fusion market size was valued at USD 14.9 Billion in 2023.
The global market is projected to grow at a CAGR of 5.60% during the forecast period, 2024-2032.
North America had the largest share in the global market.
The key players in the market are Oceana Group Limited (South Africa), TripleNine Group (Denmark), Pesquera Diamante (Peru), and Hayduk Corporation (Peru).
The salmon category dominated the market in 2023.
The dietary supplements had the largest share in the global market.
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Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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