Fish Oil Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Fish oil market is expected to reach $ 15.73 billion by 2024 and is projected to reach $ 21.82 billion by 2032, at a CAGR of 5.6% from 2017 to 2032. This upward trend indicates the growing demand for fish oil. The increase in the demand for fish oil is due to the growing awareness of the benefits of omega-3 fatty acids, which are known to support the health of the heart, the brain and general health. The market for fish oil will continue to grow with the increased use of dietary supplements and the growing preference for natural and organic products among health-conscious consumers. In addition, there are a number of factors that will increase the market for fish oil, such as the development of extraction technology, which will increase the purity and efficiency of fish oil products. Also, the development of e-commerce will help increase the number of consumers who use fish oil products. There are several companies that dominate the industry, such as the Omega Protein Corporation, BASF SE and DSM Nutritional Products, which are active in the market and are constantly developing new products and entering into strategic alliances to increase their market share. Recent launches of new products based on sustainable sourcing and enhanced formulations show that the industry is committed to meeting evolving consumer demands while addressing the needs of the environment.

Regional Market Size

Regional Deep Dive

The Fish Oil Market is experiencing strong growth in all regions, driven by the increasing awareness of health issues and the rising demand for omega-3 fatty acids. North America, Europe and Asia-Pacific are characterised by a combination of the traditional consumption pattern and the modern dietary trends, with a notable shift towards dietary supplements and food supplements. Regulations and the trend towards sustainable development are also influencing the market. Both consumers and companies are increasingly demanding sustainable production methods and sustainable sourcing. The Fish Oil Market is experiencing significant growth, influenced by both health trends and considerations for the environment.

Europe

• The stricter regulations on health claims for omega-3 fatty acids in the European Food Safety Authority (EFSA) have led to companies investing in clinical trials to substantiate their product claims and thus increasing consumers’ trust.
• Sustainability initiatives are gaining traction, with organizations like the Marine Stewardship Council (MSC) certifying fish oil products, which is influencing purchasing decisions among environmentally conscious consumers.

Asia Pacific

• The rising prevalence of lifestyle diseases in countries like China and India is driving the demand for fish oil supplements, prompting local companies to launch products tailored to regional tastes and health needs.
• Innovations in encapsulation technology are being adopted by companies such as Herbalife and Amway, allowing for better absorption of omega-3 fatty acids, which is expected to enhance product efficacy and consumer satisfaction.

Latin America

• Brazil is witnessing a surge in fish oil consumption, driven by the increasing popularity of health supplements, with local brands like Fish Oil Brasil expanding their product lines to meet this demand.
• The region's unique biodiversity is prompting companies to explore sustainable sourcing of fish oil, with initiatives aimed at protecting marine ecosystems while meeting consumer demand.

North America

• The U.S. Food and Drug Administration (FDA) has recently updated its guidelines on omega-3 fatty acids, promoting their health benefits, which is expected to boost consumer interest and sales in the fish oil supplement sector.
• Key players like Omega Protein Corporation and Nordic Naturals are investing in innovative extraction technologies to enhance the purity and efficacy of fish oil products, catering to the growing demand for high-quality supplements.

Middle East And Africa

• In the Middle East, the growing awareness of the health benefits of omega-3 fatty acids is leading to increased consumption of fish oil, with local companies like Al Ain Fish Oil investing in marketing campaigns to educate consumers.
• Regulatory bodies in the region are beginning to implement stricter quality control measures for fish oil products, which is expected to improve product safety and consumer confidence in the market.

Did You Know?

“Did you know that fish oil is not only beneficial for heart health but also plays a crucial role in brain development and function, making it a popular supplement among pregnant women and children?” — National Institutes of Health (NIH)

Segmental Market Size

The Fish Oil market is currently experiencing stable growth, mainly due to increased awareness of the health benefits of omega-3 fatty acids. The increasing occurrence of chronic diseases, as well as the increasing demand for natural remedies as an alternative to pharmaceuticals, are the main factors driving the market. Regulatory approval of health claims for fish oil also contributes to the market’s growth, especially in North America and Europe, where health-conscious consumers are particularly prevalent. The market for Fish Oil is currently in its growth phase, with companies like Nordic Naturals and Omega Protein leading the market. The main applications are in dietary supplements, fortified foods and animal feed, where Fish Oil is known for its anti-inflammatory properties. The trend towards sustainable fisheries is a major growth factor, driven by consumers’ increasing demand for sustainable products. Also shaping the market are new extraction and encapsulation methods that ensure the final products’ purity and bioavailability.

Future Outlook

Fish oil market is expected to rise from $16.73 billion in 2024 to $21.82 billion in 2032, at a strong compound annual growth rate (CAGR) of 5.6%. This growth is largely due to the rising awareness among consumers about the health benefits of omega-3 fatty acids, which are mainly derived from fish oil. According to industry estimates, fish oil use by health-conscious consumers could rise to over 30% in 2032. The market is also driven by advances in extraction and purification technology, which enhance the quality and bioavailability of fish oil. Also, favorable regulations and rising investment in aquaculture are expected to ensure a steady supply of high-quality fish oil. The market is also being shaped by the growing popularity of plant-based alternatives to fish oil and the growing demand for sustainable sourcing practices. As consumers become more demanding, companies that emphasize transparency and sustainable practices will likely benefit.