Fish Oil Market Synopsis

Fish Oil Market Size Was Valued at USD 14.9 Billion in 2023, and is Projected to Reach USD 24.7 Billion by 2032, Growing at a CAGR of 5.8% From 2024-2032.

Fish oil has been extracted from the tissues of the oily fish containing omega-3 fatty acids including eicosapentaenoic acid (EPA) and docosahexaenoic aid (DHA). Omega-3 fatty acids are put at much use in aquaculture, animal feed, pet foods, supplement, functional foods, and pharmaceuticals among others. Omega-3 fatty acid strengthens the performance of the heart and the nervous system, because it is the foundation of the process in nervous system. People and especially medical science realize how essential omega-3 fatty acids are and therefore fish oil consumption has shot through the roof.

Because of this, the companies are now incorporating concentrated EPA and DHA on the line of nutraceuticals. Due to the increasing use of EPA and DHA in human food the global fish oil market has changed significantly. And, there has been a development in the quality of seafood production through aquaculture hence having a reduced negative impact to the environment. It has also expanded due to things like on-land recirculating aquaculture systems, integrated Aquaponic systems, offshore systems and Information Technology. Hence it is evident that, gain in the technology in the aquaculture industry is driving the fish oil market more in terms of its sales value..

• The Global Fish market has show a tremendous growth in the recent past due to several factors such as; The Rise In Aquaculture, Consumer Trends related to Health & Wellness and many more. The market has also experienced the influence of a few driving factors which includes; Prolific usage of Fish oil in cosmetics, Ascend in the demand for Omega-3 market along with certain recommendations provided by the Government in some countries which has thereby helped the Overall growth of Fish Oil Market.
• Rise in Aquaculture Exchanges, Aquaculture Exchanges is the farming method of raising living organisms in a stable body of water or water that has been disturbed for only short periods of time. Aquaculture is defined as the deliberate farming of fish, shellfish, and/or aquatic plants in saltwater and/or freshwater settings. This market greatly depends on the Fish Oil because it is used in fish feeds which in return propel the growth of the market.
• There is the emergence of demands of fish oil for the cosmetic industry which is quite a shift from the nutritional need aspect where it was mostly sought after. The fact that fish oil is loaded with omega-3 fatty acids which are reputed for their nourishing and skin enhancing property explains the increased incorporation of fish oil in cosmetic products. Fish oil has been incorporated in the production of cosmetics particularly the skin and hair treatments care products because of its moisturizing nature that enhances the growth of healthy skin. Fish oil is advantageous for skincare products because omega-3s reduce skin problems and include wellbeing in the beauty products’ requirements.

Fish Oil Market Trend Analysis

Growing health advantages boosting the industry’s market growth

• Fish oil which is used commercially is comprise from fat tissues of oily fish and contains high levels of EPA and DHA omega-3 fatty acids. Applications of Omega-3 fatty acid are used mainly by different sectors including aquaculture, animal nutrition, pet food, supplement, functional foods and pharmaceutical sectors.
• In addition, omega-3 fatty acid enhances movement of blood and nerves and is integrated with the functionalities of the neurological system. The increase in the necessity of EPA as well as DHA in human meals has tremendously influenced the fish oil industry globally. Therefore, the key determining aspect in the growth of the fish oil market, with regards to revenue, is new methods in aquaculture.
• Further, Older consumers want to take preventive measures toward heart, cognition, eyes, and joint deterioration, and omega-3 fatty acid in fish oil is critical and very vital in reducing chronic illnesses risk within the older consumers. This is because, indeed, with the continually increasing world population, there are more and more people who are likely to reach the category of 65-and-over, thus increasing their consumption of fish oil. Omega-3 fish oil that can be consumed to eliminate the risk of cardiovascular diseases is popularly consumed in Japan because more than a quarter of the Japanese population is 65 years old and above. Thus, any condition of oil, in relation to fish oil products available in the market, has helped in raising the fish oil market CAGR during the recent years.

Increased Health Awareness among People

• Some of the Omega-3 fatty acids are EPA (Eicosapentaenoic acid), and DHA (Docosahexaenoic acid) that are healthy and should be taken as supplements. EPA very much supports the function of the heart and the blood vessels while DHA is a crucial constituent of the functions of the nervous system. The people and health professionals are getting to know the importance of omega-3 fatty acid, hence drastic increase in the consumption of fish oil. Because of this, the companies are now including concentrated EPA and DHA in their line of nutraceuticals. This has resulted in a large demand in EPA and DHA in human food and this has had a big impact in the fish oil market.

Fish Oil Market Segment Analysis:

Fish Oil Market Segmented based on Product Type, End Use, and Distribution Channel.

By Product Type, salmon segment is expected to dominate the market during the forecast period

• In terms of product type, the Fish Oil Market has been segmented into salmon, cod liver Fish oil and others. Specifically, in the segments of species, the salmon segment is predicted to hold the largest market share within the forecast period. The major advantage of salmon oil is that it contains obviously high volumes of omega-3 fatty acids. Salmon oil contains two PUFA mainly omega-3 fatty acids; eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Research has demonstrated that EPA and DHA has number of health benefits such as reduced cardiovascular diseases, improved brain function, reduced inflammation and increase Fish Oil Market revenue. It is an organ that is popularly used to produce cod liver oil that is encountered in the diet of many people. It has vitamin A and D, omega-3 fatty acids including EPA and DHA within the fish oil extracts of most fish.
• Jan 2022: Labdoor, a firm that tests vitamins and supplement for purity, label, and nutritional truth per cent did this for fish oils and even searched for total omega-3 fatty acids, vitamins D and total CLA..

By End Use, Dietary Supplements segment held the largest share in 2023

• According to the Fish Oil Market data has been Fish oil is mostly used in Animal feed, Functional food, functional beverages, dietary supplements and other applications. As per the forecast period, the market share was maintained by the dietary supplements segment. Fish oil medications are generally products containing EPA, DHA and nutrient who have approved by FDA and used for nutrition and healthcare also known also called as nutraceuticals. A product that contributes to a positive impact on the physiological state or provides protection against the onset of chronic diseases is known a nutraceutical product.

Fish Oil Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America has been predicted to remain the largest market internationally in terms of consumer penetration. North America remains the largest manufacturer and consumer of fish oil especially the United States of America and Canada. Analyzing pharmaceuticals as well as supplements and functional foods point of view, the US and Canada fish oil market related to Omega 3 fatty acid, especially EPA and DHA, is mandated and recommended by governments for proper healthy lifestyle.
• The animal feed business in United State of America cultivating omega-3 fatty acids for making the livestock productiveness, healthful as well as their well-being better or utilise the features of these fatty acid for the preparation of better quality manufactured goods like meat and eggs for human use. Thus, the utilization of fish oil in feed mixtures is gradually growing, even though for now, its availability is limited.

Active Key Players in the Fish Oil Market

• Oceana Group Limited (South Africa)
• TripleNine Group (Denmark)
• Pesquera Diamante (Peru)
• Hayduk Corporacion (Peru)
• FF Skagen A/S (Denmark)
• Sarma Fish SARL (Morocco)
• FMC Corporation (US)
• Blueline Foods (India) Pvt. Ltd (India)
• Olvea Fish Oils (France) and Other Active Players

Key Industry Developments in the Fish Oil Market:

• In July 2024, DSM-Firmenich, innovators in nutrition, health, and beauty, announced the sale of its MEG-3® fish oil business to KD Pharma Group SA, a contract development and manufacturing organization specializing in pharmaceutical and nutritional lipids. As part of the transaction, DSM-Firmenich acquired a 29% minority stake in KD Pharma's parent company, O³ Holding GmbH. This decision followed DSM-Firmenich's strategic portfolio review, announced on June 3, which led to the de-prioritization of certain business segments, including the MEG-3 business.
• In January 2022, When Labdoor, a company that investigates vitamins and supplements’ purity, labeling, and quality, examined the fish oils it tested their total omega-3 fatty acids, EPA and DHA concentrations, and a vitamin, CLA, contents.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Fish Oil Market by Product Type
 4.1 Fish Oil Market Snapshot and Growth Engine
 4.2 Fish Oil Market Overview
 4.3 Salmon
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Salmon: Geographic Segmentation Analysis
 4.4 Cod Liver
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Cod Liver: Geographic Segmentation Analysis
 4.5 and Other
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 and Other: Geographic Segmentation Analysis

Chapter 5: Fish Oil Market by End Use
 5.1 Fish Oil Market Snapshot and Growth Engine
 5.2 Fish Oil Market Overview
 5.3 Animal Feed
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Animal Feed: Geographic Segmentation Analysis
 5.4 Functional Food
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Functional Food: Geographic Segmentation Analysis
 5.5 Functional Beverages
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Functional Beverages: Geographic Segmentation Analysis
 5.6 Dietary Supplements
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Dietary Supplements: Geographic Segmentation Analysis
 5.7 Others
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Others: Geographic Segmentation Analysis

Chapter 6: Fish Oil Market by Distribution Channel
 6.1 Fish Oil Market Snapshot and Growth Engine
 6.2 Fish Oil Market Overview
 6.3 Store and Non-Store
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Store and Non-Store: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Fish Oil Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 OCEANA GROUP LIMITED (SOUTH AFRICA)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 TRIPLENINE GROUP (DENMARK)
 7.4 SARMA FISH SARL (MOROCCO)
 7.5 FMC CORPORATION (US)
 7.6 BLUELINE FOODS (INDIA) PVT. LTD (INDIA)
 7.7 OLVEA FISH OILS (FRANCE)
 7.8 OTHER ACTIVE PLAYERS.

Chapter 8: Global Fish Oil Market By Region
 8.1 Overview
 8.2. North America Fish Oil Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product Type
   8.2.4.1 Salmon
   8.2.4.2 Cod Liver
   8.2.4.3 and Other
  8.2.5 Historic and Forecasted Market Size By End Use
   8.2.5.1 Animal Feed
   8.2.5.2 Functional Food
   8.2.5.3 Functional Beverages
   8.2.5.4 Dietary Supplements
   8.2.5.5 Others
  8.2.6 Historic and Forecasted Market Size By Distribution Channel
   8.2.6.1 Store and Non-Store
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Fish Oil Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product Type
   8.3.4.1 Salmon
   8.3.4.2 Cod Liver
   8.3.4.3 and Other
  8.3.5 Historic and Forecasted Market Size By End Use
   8.3.5.1 Animal Feed
   8.3.5.2 Functional Food
   8.3.5.3 Functional Beverages
   8.3.5.4 Dietary Supplements
   8.3.5.5 Others
  8.3.6 Historic and Forecasted Market Size By Distribution Channel
   8.3.6.1 Store and Non-Store
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Fish Oil Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product Type
   8.4.4.1 Salmon
   8.4.4.2 Cod Liver
   8.4.4.3 and Other
  8.4.5 Historic and Forecasted Market Size By End Use
   8.4.5.1 Animal Feed
   8.4.5.2 Functional Food
   8.4.5.3 Functional Beverages
   8.4.5.4 Dietary Supplements
   8.4.5.5 Others
  8.4.6 Historic and Forecasted Market Size By Distribution Channel
   8.4.6.1 Store and Non-Store
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Fish Oil Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product Type
   8.5.4.1 Salmon
   8.5.4.2 Cod Liver
   8.5.4.3 and Other
  8.5.5 Historic and Forecasted Market Size By End Use
   8.5.5.1 Animal Feed
   8.5.5.2 Functional Food
   8.5.5.3 Functional Beverages
   8.5.5.4 Dietary Supplements
   8.5.5.5 Others
  8.5.6 Historic and Forecasted Market Size By Distribution Channel
   8.5.6.1 Store and Non-Store
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Fish Oil Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product Type
   8.6.4.1 Salmon
   8.6.4.2 Cod Liver
   8.6.4.3 and Other
  8.6.5 Historic and Forecasted Market Size By End Use
   8.6.5.1 Animal Feed
   8.6.5.2 Functional Food
   8.6.5.3 Functional Beverages
   8.6.5.4 Dietary Supplements
   8.6.5.5 Others
  8.6.6 Historic and Forecasted Market Size By Distribution Channel
   8.6.6.1 Store and Non-Store
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Fish Oil Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product Type
   8.7.4.1 Salmon
   8.7.4.2 Cod Liver
   8.7.4.3 and Other
  8.7.5 Historic and Forecasted Market Size By End Use
   8.7.5.1 Animal Feed
   8.7.5.2 Functional Food
   8.7.5.3 Functional Beverages
   8.7.5.4 Dietary Supplements
   8.7.5.5 Others
  8.7.6 Historic and Forecasted Market Size By Distribution Channel
   8.7.6.1 Store and Non-Store
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research