Fish Oil Market - Global Industry Analysis

Fish Oil Market By Species (Anchovy, Mackerel, Sardines, Cod, Herring, Menhaden, and Others), By Application (Aquaculture, Animal Nutrition & Pet Food, Pharmaceuticals, Supplements & Functional Food, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 08-Jun-2022 Category: Food & Beverage Report Format : PDF Pages: 187 Report Code: ZMR-3446 Status : Published

The global fish oil market was valued at nearly USD 11.95 billion in 2021 and is projected to grow to about USD 17.64 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.7 percent over the forecast period.

Description

Global Fish Oil Market Industry Prospective:

The global fish oil market was valued at nearly USD 11.95 billion in 2021 and is projected to grow to about USD 17.64 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.7 percent over the forecast period. The report analyzes the fish oil market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fish oil market.

Fish Oil Market: Overview

Fish oil is derived from a variety of sources. Docosahexaenoic acid (DHA) and Eicosapentaenoic acid (EPA) are two key omega-3 fatty acids found in them. The omega-3 fatty acid concentration of fish oil appears to be the source of its advantages. Salmon, tuna, herring, and mackerel are among the fish that are particularly high in these oils. The body does not create many omega-3 fatty acids on its own. Medicines, supplements & functional food, animal nutrition & pet feed, aquaculture, and other industries use omega-3 fatty acids extensively.

Global fish oil market

COVID-19 Impact:

Like many other industries, the fish oil market was hit hard by the COVID-19 pandemic. People were taking a variety of supplements to strengthen their immunity, and fish oil omega-3 is recognized to have immunity-boosting properties, so the market did not suffer. It was thought to be helpful in the prevention of COVID-19 as well as for the individual's overall health. Thus, during the Covid-19 pandemic as well as the post-Covid-19 era, the market for fish oil witnessed a healthy growth rate.

Fish Oil Market: Growth Drivers

Rapidly expanding aquaculture sector to foster the market growth

The expansion of the global fish oil market is directly linked to the growth of the aquaculture sector. Fish are farmed for a variety of commercial reasons through aquaculture. By employing fishmeal derived from food waste and algae, aquaculture has been developing and growing into a resource- and carbon-efficient sector. Organic aquaculture is becoming more popular in several places. Fishing and aquaculture are also important parts of many countries’ economies. The increased demand for fish oil and, more significantly, fish oil omega-3 has prompted the aquaculture industry to get more financial and technological support. In addition to this, the market for fish oil is growing due to ongoing improvements in the aquaculture sector, as well as strong demand for the product.

Fish Oil Market: Restraints

High cost of fish oil may restrain the market growth

Fish oil prices vary a lot from one producer to the next, and it can be the lowest or most costly commodity on the market. Packaging for supplements has a dual purpose: it attracts buyers and protects the substance. The omega-3 fatty acids in the fish oil capsules are damaged by light (especially UV light). The goal of these supplements is to give omega-3 fatty acids to the body. If they are damaged, they are of little use to the body and might even be harmful. In addition to this, the product also needs random and independent testing for quality, toxins, and contents. All these factors add up to the cost of fish oil products. Moreover, production through a natural fermentation process does not affect vitamins or fatty acids, implying that all nutrients remain natural and unaltered. Their bioavailability and advantages were improved as a result. Hence the process of packaging, testing, and extraction altogether increases the cost which, in turn, may hinder the market growth.

Fish Oil Market: Opportunities

A surge in demand for Omega 3 Fatty Acids and the growing adoption of anchovy-based fish oils is likely to offer better growth opportunities for the market expansion.

Fish oil contains omega 3 fatty acids, which are critical for lowering the risk of chronic illnesses, heart disease, cognitive decline, and joint degradation in the elderly. The demand for different fish oils has risen as customer knowledge of the advantages of omega 3 fatty acids has increased. Furthermore, clients all over the world are turning to anchovy-based fish oils for their health advantages, which include lowering triglyceride levels, delaying plaque accumulation in arteries, and lowering blood pressure. Key manufacturers throughout the world are also concentrating on creating anchovy-based high-quality fish oils, which is expected to contribute to the global fish oil market's expansion.

Fish Oil Market: Challenges

Adverse climatic conditions pose a major challenge to market growth

The expansion of the fish oil market is generally constrained by bad environmental circumstances. El Nino is a climatic phenomenon marked by warming ocean water and high air pressures that occurs in the Pacific's central and east-central regions. El Nino produces a significant shift in global temperatures, as well as heavy rainfall and temperature changes, which have a significant impact on agricultural and fisheries in impoverished nations' coastal areas. El Nino also impedes transportation activity in certain coastal locations, resulting in higher transportation costs. As a result, changes in climatic circumstances are expected to stifle the expansion of the fish oil industry.

Fish Oil Market: Segmentation

The global fish oil market is divided based on species, application, and region. Based on the species, the global market is segregated into sardine, salmon, tuna, menhaden, anchovy, cod liver, and other species. The application segment of the market is bifurcated into animal nutrition & pet food, aquaculture, pharmaceuticals, functional food & supplements, and others.

Report Scope:

 

Recent Developments

  • June 2021, with the debut of the new Omega-3 Index Test for dogs, OmegaQuant expanded its offering. Pet owners can use this sample collection kit to have their doctor assess their pet's omega-3 level.
  • April 2020, Omega 3 concentration natural fish oils from AlaskOmega are designed to provide high doses of omega-3 to a variety of goods, including nutritional supplement powders, energy bars, multivitamin blends, milk products, and other functional foods and drinks.
  • March 2020, Wiley Companies introduced omega 3 concentrate fish oil, which contains at least 200mg of docosahexaenoic and eicosapentaenoic acids (EPA). The ingredient was created to be used in foods, drinks, and dietary supplements.

Fish Oil Market: Regional Landscape

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

North America to lead the global market over the forecast period.

In 2021, North America had the biggest global fish oil market share, accounting for 28 percent of the total market. The rise in the usage of anchovy-based fish oil in developed countries, as well as an increase in product releases by key players, are driving this segment's expansion. The fish oil market is expanding due to rising demand for menhaden-based fish oils in animal nutrition. Over the future period, Asia Pacific segment is expected to increase at the quickest rate. The rise in knowledge about the health advantages of docosahexaenoic acids (DHA) and the rising investment by major companies in developing high-quality fish oil are driving this segment's growth.

Fish Oil Market: Competitive Landscape

The global fish oil market is dominated by Copeinca AS, Omega Protein Corporation, FMC Corporation, TripleNine Group A/S, Corpesca SA, FF Skagen A/S, Colpex International, Marvesa Holding N.V., Pesquera Diamante S.A., and Pesquera Exalmar.

Global fish oil market is segmented as follows:

By Species

  • Anchovy
  • Mackerel
  • Sardines
  • Cod
  • Herring
  • Menhaden
  • Others

By Application

  • Aquaculture
  • Animal Nutrition & Pet food
  • Pharmaceuticals
  • Supplements & Functional food
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Fish Oil Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Fish Oil Market : snapshot
  • Chapter 3. Global Fish Oil Market - Industry Analysis
    • 3.1 Fish Oil Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rapidly expanding aquaculture sector to foster the market growth
    • 3.3 Market Restraints
      • 3.3.1. High cost of fish oil may restrain the market growth
    • 3.4 Market Opportunities
      • 3.4.1. A surge in demand for Omega 3 Fatty Acids and the growing adoption of anchovy-based fish oils is likely to offer better growth opportunities for the market expansion.
    • 3.5 Market Challenges
      • 3.5.1. Adverse climatic conditions pose a major challenge to market growth.
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Species
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Fish Oil Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Fish Oil Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Fish Oil Market - Species Analysis
    • 5.1 Global Fish Oil Market overview: By Species
      • 5.1.1 Global Fish Oil Market share, By Species, 2021 and 2028
    • 5.2 Anchovy
      • 5.2.1 Global Fish Oil Market by Anchovy, 2022 - 2028 (USD Billion)
    • 5.3 Mackerel
      • 5.3.1 Global Fish Oil Market by Mackerel, 2022 - 2028 (USD Billion)
    • 5.4 Sardines
      • 5.4.1 Global Fish Oil Market by Sardines, 2022 - 2028 (USD Billion)
    • 5.5 Cod
      • 5.5.1 Global Fish Oil Market by Cod, 2022 - 2028 (USD Billion)
    • 5.6 Herring
      • 5.6.1 Global Fish Oil Market by Herring, 2022 - 2028 (USD Billion)
    • 5.7 Menhaden
      • 5.7.1 Global Fish Oil Market by Menhaden, 2022 - 2028 (USD Billion)
    • 5.8 Others
      • 5.8.1 Global Fish Oil Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Fish Oil Market - Application Analysis
    • 6.1 Global Fish Oil Market overview: By Application
      • 6.1.1 Global Fish Oil Market share, By Application, 2021 and 2028
    • 6.2 Aquaculture
      • 6.2.1 Global Fish Oil Market by Aquaculture, 2022 - 2028 (USD Billion)
    • 6.3 Animal Nutrition & Pet food
      • 6.3.1 Global Fish Oil Market by Animal Nutrition & Pet food, 2022 - 2028 (USD Billion)
    • 6.4 Pharmaceuticals
      • 6.4.1 Global Fish Oil Market by Pharmaceuticals, 2022 - 2028 (USD Billion)
    • 6.5 Supplements & Functional food
      • 6.5.1 Global Fish Oil Market by Supplements & Functional food, 2022 - 2028 (USD Billion)
    • 6.6 Others
      • 6.6.1 Global Fish Oil Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 7. Fish Oil Market - Regional Analysis
    • 7.1 Global Fish Oil Market Regional Overview
    • 7.2 Global Fish Oil Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Fish Oil Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Fish Oil Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Fish Oil Market, by Species, 2022 - 2028
      • 7.4.1 North America Fish Oil Market, by Species, 2022 - 2028 (USD Billion)
    • 7.5 North America Fish Oil Market, by Application, 2022 - 2028
      • 7.5.1 North America Fish Oil Market, by Application, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Fish Oil Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Fish Oil Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Fish Oil Market, by Species, 2022 - 2028
      • 7.4.1 Europe Fish Oil Market, by Species, 2022 - 2028 (USD Billion)
    • 7.5 Europe Fish Oil Market, by Application, 2022 - 2028
      • 7.5.1 Europe Fish Oil Market, by Application, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Fish Oil Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Fish Oil Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Fish Oil Market, by Species, 2022 - 2028
      • 7.4.1 Asia Pacific Fish Oil Market, by Species, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Fish Oil Market, by Application, 2022 - 2028
      • 7.5.1 Asia Pacific Fish Oil Market, by Application, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Fish Oil Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Fish Oil Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Fish Oil Market, by Species, 2022 - 2028
      • 7.4.1 Latin America Fish Oil Market, by Species, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Fish Oil Market, by Application, 2022 - 2028
      • 7.5.1 Latin America Fish Oil Market, by Application, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Fish Oil Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Fish Oil Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Fish Oil Market, by Species, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Fish Oil Market, by Species, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Fish Oil Market, by Application, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Fish Oil Market, by Application, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Copeinca AS
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Omega Protein Corporation
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 FMC Corporation
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 TripleNine Group A/S
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Corpesca SA
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 FF Skagen A/S
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Colpex International
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Marvesa Holding N.V.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Pesquera Diamante S.A.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Pesquera Exalmar.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Fish Oil Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Fish Oil Market attractiveness, By Species
  • 6. Global Fish Oil Market attractiveness, By Application
  • 7. Global Fish Oil Market share by Species, 2022 and 2028 (USD Billion)
  • 8. Global Fish Oil Market by Anchovy, 2022 - 2028 (USD Billion)
  • 9. Global Fish Oil Market by Mackerel, 2022 - 2028 (USD Billion)
  • 10. Global Fish Oil Market by Sardines, 2022 - 2028 (USD Billion)
  • 11. Global Fish Oil Market by Cod, 2022 - 2028 (USD Billion)
  • 12. Global Fish Oil Market by Herring, 2022 - 2028 (USD Billion)
  • 13. Global Fish Oil Market by Menhaden, 2022 - 2028 (USD Billion)
  • 14. Global Fish Oil Market by Others, 2022 - 2028 (USD Billion)
  • 15. Global Fish Oil Market share by Application, 2022 and 2028 (USD Billion)
  • 16. Global Fish Oil Market by Aquaculture, 2022 - 2028 (USD Billion)
  • 17. Global Fish Oil Market by Animal Nutrition & Pet food, 2022 - 2028 (USD Billion)
  • 18. Global Fish Oil Market by Pharmaceuticals, 2022 - 2028 (USD Billion)
  • 19. Global Fish Oil Market by Supplements & Functional food, 2022 - 2028 (USD Billion)
  • 20. Global Fish Oil Market by Others, 2022 - 2028 (USD Billion)
  • 21. Global Fish Oil Market share, by Region, 2022 and 2028
  • 22. North America Fish Oil Market, 2022 - 2028 (USD Billion)
  • 23. Europe Fish Oil Market, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Fish Oil Market, 2022 - 2028 (USD Billion)
  • 25. Latin America Fish Oil Market, 2022 - 2028 (USD Billion)
  • 26. The Middle-East and Africa Fish Oil Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Fish Oil Market: Snapshot
  • 2. Drivers of the Fish Oil Market: impact analysis
  • 3. North America Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 4. North America Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 5. U.S. Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 6. U.S. Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 7. Canada Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 8. Canada Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 9. Europe Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 10. Europe Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 11. Germany Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 12. Germany Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 13. France Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 14. France Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 15. U.K. Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 16. U.K. Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 17. Italy Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 18. Italy Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 19. Spain Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 20. Spain Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 25. China Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 26. China Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 27. Japan Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 28. Japan Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 29. India Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 30. India Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 31. South Korea Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 32. South Korea Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 37. Latin America Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 38. Latin America Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 39. Brazil Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 40. Brazil Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 41. Mexico Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 42. Mexico Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 49. South Africa Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 50. South Africa Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Fish Oil Market revenue, By Species, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Fish Oil Market revenue, By Application, 2022 - 2028 (USD Billion)

Methodology

Free Analysis

Fish oil is a healthy source of omega-3 fatty acids and vitamin E. There are two types of fish oil: fish liver oil (commonly derived from the liver of the cod) and fish body oil (usually derived from the flesh of the herring, sardine, or anchovy). Both fish oils are sources of eicosapentaenoic acid (EPA), omega-3 long chain polyunsaturated fatty acids (LCPUFAs), and docosahexaenoic acid (DHA). The fish liver oil contains vitamins A and D, which are essential for the human body and also help in lowering the risk of cardiovascular diseases. Thus, these benefits of fish oil are expected to fuel the global fish oil market growth during the forecast period. 

The global fish oil market is primarily driven by increasing aquaculture activities. Growing awareness about the health benefits of fish oil is projected to increase its demand among supplements and pharmaceutical manufacturers. In addition, growing awareness among consumers about fish oil’s benefits related to skin and overall health is anticipated to augment its demand further. However, the presence of alternatives to fish oil, such as beef and pork, and the high cost of fish oil might hamper the growth of the global market of fish oil within the forecast period. 

Global Fish Oil Market

The global fish oil market can be segmented based on type and application. Based on the type, the global market can be categorized into tilapias, crustaceans, marine fish, salmon and trout, and others. The salmon and trout segment is projected to attain the largest market share during the forecast period. This is due to the rising importance of salmon for direct consumption for strengthening the muscles and heart and improving metabolism.

Based on application, the global market can be fragmented into aquaculture, animal nutrition, and pet food, direct human consumption, pharmaceuticals, and supplements. The aquaculture segment held a dominant position in 2017 and is expected to gain more share in terms of value during the forecast period. This can be attributed to the development of the fishing industry, due to the high demand for fishes for direct human consumption

Based on geography, the global fish oil market finds its market scope in Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa. Europe is expected to dominate the global fish oil market. This is due to the large-scale salmon and trout farming in the region. Chile, Denmark, and Peru are the leading producers of fish oil and collectively account for more than 50% share of the market. The Asia Pacific fish oil market has also grown over the last few years, especially in China, due to the flourishing aquaculture industry in the country.

The report also includes detailed profiles of key players, such as Colpex, American Marine Ingredients, Croda Inc., Omega Protein, Copeinca ASA, Epax AS, GC Rieber Oils, and Corpesca S.A. The detailed description of players includes various parameters, such as company overview, financial overview, business strategies, and recent developments of the company.

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FrequentlyAsked Questions

The expansion of the fish oil market is directly linked to the growth of the aquaculture sector. Fish are farmed for a variety of commercial reasons through aquaculture. By employing fishmeal derived from food waste and algae, aquaculture has been developing and growing into a resource- and carbon-efficient sector. Organic aquaculture is becoming more popular in several places. Fishing and aquaculture are also important parts of many countries’ economies. The increased demand for fish oil and, more significantly, fish oil omega-3 has prompted the aquaculture industry to get more financial and technological support.

According to the Zion Market Research report, the global fish oil market was worth about 11.95 (USD billion) in 2021 and is predicted to grow to around 17.64 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.7 percent.

In 2021, North America had the biggest market share, accounting for 28 percent of the total market. The rise in the usage of anchovy-based fish oil in developed countries, as well as an increase in product releases by key players, are driving this segment's expansion. The Fish Oil Market is expanding due to rising demand for menhaden-based fish oils in animal nutrition.

The global fish oil market is dominated by Copeinca AS, Omega Protein Corporation, FMC Corporation, TripleNine Group A/S, Corpesca SA, FF Skagen A/S, Colpex International, Marvesa Holding N.V., Pesquera Diamante S.A., and Pesquera Exalmar.

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