The global fish oil market size is predicted to reach over USD 2,500.0 million by 2028. One of the key factor driving the fish oil market growth is increasing incidences of cardiovascular diseases across the world. Moreover, fish oil is majorly used as a vital component while manufacturing of cosmetic products and multipurpose ointments. This factor will another major factor expected to push the market in upcoming years. On the other hand, various impositions made by government directed towards limiting fishing quota can cause a huge gap between demand supplies, restraining fish oil industry growth in upcoming years.
Growing awareness about fish oil's health benefits are projected to fuel the demand from food and pharmaceutical firms. Demand is expected to grow as consumer understanding of the product's benefits for general health and skin increases. However, the availability of alternatives such as pork and beef, as well as high fish oil costs, are likely to stifle industry development over the next few years. Over the projected era, the adoption of advanced aquaculture practises would open up new prospects for business expansion.
Fish Oil Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2,500.0 million|
|Growth Rate||CAGR of 3.5% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Omega protein corporation, American Seafood, Colpex. GC RIEBER VIVOMEGA AS, Corpesca S.A., Croda Inc., FF Skagen A/S, FMC Corporation, Copeinca ASA, Marvesa Holding N.V.|
Key Segments of the Global Fish Oil Market
Application Overview, 2019-2028 (USD Million, Kilo Tons)
- Animal Nutrition & Pet Food
- Direct Human Consumption
Type Overview, 2019-2028 (USD Million, Kilo Tons)
- Salmon & Trout
- Marine Fish
Regional Overview, 2019-2028 (USD Million, Kilo Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global fish oil market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global fish oil market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the fish oil industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type, application, and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global fish oil market. The report will benefit Every stakeholder involved in the fish oil market.
- Managers within the fish oil industry looking to publish recent and forecasted statistics about the global fish oil market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global fish oil market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Food and livelihood are the major challenges faced by humans owing to increasing population. Shortage of food has several reasons such as inappropriate climatic changes, lack of sustainably developed food products, and mismanaged logistic activities. Also, impacts of climate change and environmental degradation on the resource base has galvanized several international organizations; they have initiated major steps to conquer the key issues which are likely to hamper the sustainability of food resources. Aquaculture is one among the favoured industries owing to several benefits associated with aquatic organisms. Some forms of aquaculture is favourable to ecosystems, for instance, shellfish aquaculture adds substantial filter feeding capacity to an environment which significantly improves water quality.
In terms of type, the global fish oil market is divided into salmon & trout, marine fish, crustaceans, tilapias, others. Salmon and trout are common sources of fishmeal and fish oil. Salmon and trout together accounted for a market share of more than 50%, both in terms of value and volume. Given a decline in the use of fishmeal and fish oil in aquaculture feeds, the market will continue to increase, and omega-3 health supplements have a promising future. Salmon is by far the most effective food mechanism compared to beef, pork, or poultry. Salmon also maintains far more nutrients and energy than other farmed species, with beef holding just 15% protein compared to 31% for salmon.
In term of application, the global fish oil market is segmented into aquaculture, animal nutrition and pet food, direct human consumption, and other. Aquaculture is a vital method of food production for supplying nutrients to help end global poverty, and global aquaculture production is increasingly increasing. Cultured fish need important dietary sources such as fish oil and fish meal. Hence, Aquaculture dominated the application segment of the global fish oil industry followed by human consumption.
Central & South America dominated the global fish oil market in 2020 and is expected to continue its dominance over the projected period. Increasing utilization of fish oil across food supplements and pharmaceutical applications owing to the rising inclination toward nutritional diet is contributing to the industry demand.
The major players of the global fish oil market are Omega protein corporation, American Seafood, Colpex. GC RIEBER VIVOMEGA AS, Corpesca S.A., Croda Inc., FF Skagen A/S, FMC Corporation, Copeinca ASA, Marvesa Holding N.V. The established companies are shifting focus toward establishing manufacturing facilities associated with production of fish oil. Furthermore, the industry players are coming up with inorganic growth strategies to expand their market presence. The solutions providers are undergoing several strategic partnerships, business expansion, merger and acquisition, and several products and solution launches.