Fish Oil Market Growth & Trends
The global fish oil market size is expected to reach USD 4.20 billion by 2030, expanding at a CAGR of 4.6% from 2024 to 2030. Growing demand for omega 3 along with rising aquaculture activities is expected to propel growth over the forecast period.
Increasing health benefits of fish oil is expected to drive demand among food, and pharmaceutical manufacturers. Rising consumer awareness regarding benefits of the product for overall health and skin is expected to augment demand. However, presence of substitutes including beef, and pork along with high prices of fish oil is expected to hinder industry growth over the next seven years. Adoption of modern aquaculture practice will open new opportunities for market expansion over the forecast period.
Fish Oil Market Report Highlights
- The aquaculture segment dominated the market for fish oil with a revenue share of 59.6% in 2023. The global population is steadily increasing, and there is an increasing demand for protein sources such as fishmeal. Aquaculture offers a sustainable and controlled method to meet this growing demand.
- The human consumption application segment accounted for a substantial market share in 2023 and is projected to witness the fastest growth rate during the forecast period.
- Traditional pelagic and demersal species held the highest market revenue share of 66.6% in 2023. Pelagic species (living and feeding near water surface) and demersal species (living and feeding near seabed) tend to be more abundant in oceans compared to other fish types.
- The tilapia species segment is expected to advance at the highest CAGR of 11.7% during the forecast period. Tilapia is an ideal fish species for aquaculture owing to its ease of farming, as they can be grown in small confined water bodies in large numbers.
- Europe accounted for the highest revenue share of 38.1% in the global market in 2023. Fish oil production in this region is largely based on harvesting small pelagic species of fish such as sprat, herring, and sand-eels.
- The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. This is owing to the population in regional economies consuming high levels of fish. With urbanization and busy lifestyles, dietary patterns are changing in this region.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Fish Oil Market Variables, Trends, & Scope
Chapter 4. Fish Oil Market: Application Estimates & Trend Analysis
Chapter 5. Fish Oil Market: Species Estimates & Trend Analysis
Chapter 6. Fish Oil Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- Ocean Group Ltd.
- Croda International plc
- GC Rieber
- Pelagia AS
- BASF SE
- DSM
- Sürsan
- Omega Protein Corporation
- TripleNine
- OLVEA Group
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 3.08 Billion |
| Forecasted Market Value ( USD | $ 4.2 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
