The fish oil alternatives market size has grown strongly in recent years. It will grow from $2.49 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historic period can be linked to several factors, heightened awareness about contaminants in fish oil, a rising incidence of fish allergies, an increase in vegetarian and vegan populations, the recognized health benefits of omega-3 fatty acids, and a growing demand for dietary supplements.
The fish oil alternatives market size is expected to see strong growth in the next few years. It will grow to $3.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The projected growth during the forecast period can be attributed to several factors, rising health and wellness trends, increased demand for clean-label products, regulatory pressure for sustainability, a growing market for vegan supplements, and heightened awareness of the health benefits of omega-3 fatty acids. Key trends expected to drive this growth include greater investment in algae farming, advancements in oil extraction technologies, the expansion of vegan product lines, enhanced regulatory support for sustainable alternatives, and further technological improvements in oil extraction processes.
The rise in popularity of vegan food is expected to drive growth in the fish oil alternatives market. This increase in popularity is due to heightened health awareness, environmental concerns, and ethical considerations regarding animal welfare. Vegan alternatives to fish oil, such as algae oil and flaxseed oil, offer essential omega-3 fatty acids without using animal sources. These alternatives are beneficial for cardiovascular health and provide environmentally sustainable options for vegans. For example, the International Food Information Council, a US-based nonprofit supported by the food, beverage, and agricultural industries, reported in May 2023 that the percentage of people following a vegan diet rose to 52% in 2022, up from 39% in 2021. The vegan population also increased to 2% compared to the previous year. Thus, the growing interest in vegan food is fueling the expansion of the fish oil alternatives market.
Leading companies in the fish oil alternatives market are focusing on developing innovative products, such as plant-based supplements that deliver omega-3 fatty acids without the environmental impact of fish oil. These supplements are derived from plants and provide essential nutrients, including omega-3 fatty acids, which are important for overall health. For instance, in June 2024, MegaFood, a US-based dietary supplement company, introduced the Omega 3-6-9 Supplement. This product features sustainably sourced ahiflower and fish-free algae oil, improved taste, and reduced burps thanks to careful processing and delayed-release capsules. It offers a comprehensive nutrient profile with omega-3, omega-6, and omega-9 fatty acids, providing a more eco-friendly, palatable, and holistic option in the fish oil alternatives market.
In July 2021, Kerry Group plc, an Ireland-based taste and nutrition company, acquired Biosearch Life for €126.9 million ($150 million). This acquisition supports Kerry Group’s strategic goals to expand its portfolio of branded, science-backed ingredients and enhance its dietary supplement capabilities. Biosearch Life, a Spain-based biotechnology company, also offers plant-based fish oil alternatives.
Major companies operating in the fish oil alternatives market are Cargill Inc., Archer Daniels Midland Company (ADM), BASF SE, Wilmar International, CHS Inc., Dupont De Nemours, Koninklijke DSM N.V., Croda International, Corbion, Pelagia AS, Omega Protein Corporation, Olvea Group, Connoils LLC, Sonic Biochem, TerraVia Holdings, Bioway Organic Group Limited, Veramaris, AlgiSys BioSciences Inc., GC Rieber Oils, Medix Laboratoires.
Asia-Pacific was the largest region in the fish oil alternatives market in 2023. The regions covered in the fish oil alternatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fish oil alternatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Fish oil alternatives are sustainable sources of omega-3 fatty acids obtained from non-fish sources such as algae, krill, flaxseed, and chia seeds. These alternatives offer similar nutritional benefits to traditional fish oil and are mainly used as dietary supplements to promote cardiovascular health, cognitive function, joint health, and overall well-being, catering to those looking for vegan or eco-friendly options.
The primary types of fish oil alternatives include chia seed oil, soybean oil, canola oil, hemp seed oil, algae oil, walnut oil, and flaxseed oil. Chia seed oil, for instance, is rich in omega-3 fatty acids and is used in food products, dietary supplements, and skincare products. The fish species involved in traditional fish oil include anchovy, cod liver, menhaden, tuna, sardine, and salmon. These traditional sources are utilized in various sectors such as food and beverages, cosmetics and personal care, animal feed, pet food additives, pharmaceuticals, nutraceuticals, and biofuels.
The fish oil alternatives market research report is one of a series of new reports that provides fish oil alternatives market statistics, including fish oil alternatives industry global market size, regional shares, competitors with a fish oil alternatives market share, detailed fish oil alternatives market segments, market trends and opportunities, and any further data you may need to thrive in the fish oil alternatives industry. This fish oil alternatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fish oil alternatives market consists of sales of sacha inchi oil, perilla seed oil, evening primrose oil, pumpkin seed oil, olive oil, and blackcurrant seed oil. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The fish oil alternatives market size is expected to see strong growth in the next few years. It will grow to $3.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The projected growth during the forecast period can be attributed to several factors, rising health and wellness trends, increased demand for clean-label products, regulatory pressure for sustainability, a growing market for vegan supplements, and heightened awareness of the health benefits of omega-3 fatty acids. Key trends expected to drive this growth include greater investment in algae farming, advancements in oil extraction technologies, the expansion of vegan product lines, enhanced regulatory support for sustainable alternatives, and further technological improvements in oil extraction processes.
The rise in popularity of vegan food is expected to drive growth in the fish oil alternatives market. This increase in popularity is due to heightened health awareness, environmental concerns, and ethical considerations regarding animal welfare. Vegan alternatives to fish oil, such as algae oil and flaxseed oil, offer essential omega-3 fatty acids without using animal sources. These alternatives are beneficial for cardiovascular health and provide environmentally sustainable options for vegans. For example, the International Food Information Council, a US-based nonprofit supported by the food, beverage, and agricultural industries, reported in May 2023 that the percentage of people following a vegan diet rose to 52% in 2022, up from 39% in 2021. The vegan population also increased to 2% compared to the previous year. Thus, the growing interest in vegan food is fueling the expansion of the fish oil alternatives market.
Leading companies in the fish oil alternatives market are focusing on developing innovative products, such as plant-based supplements that deliver omega-3 fatty acids without the environmental impact of fish oil. These supplements are derived from plants and provide essential nutrients, including omega-3 fatty acids, which are important for overall health. For instance, in June 2024, MegaFood, a US-based dietary supplement company, introduced the Omega 3-6-9 Supplement. This product features sustainably sourced ahiflower and fish-free algae oil, improved taste, and reduced burps thanks to careful processing and delayed-release capsules. It offers a comprehensive nutrient profile with omega-3, omega-6, and omega-9 fatty acids, providing a more eco-friendly, palatable, and holistic option in the fish oil alternatives market.
In July 2021, Kerry Group plc, an Ireland-based taste and nutrition company, acquired Biosearch Life for €126.9 million ($150 million). This acquisition supports Kerry Group’s strategic goals to expand its portfolio of branded, science-backed ingredients and enhance its dietary supplement capabilities. Biosearch Life, a Spain-based biotechnology company, also offers plant-based fish oil alternatives.
Major companies operating in the fish oil alternatives market are Cargill Inc., Archer Daniels Midland Company (ADM), BASF SE, Wilmar International, CHS Inc., Dupont De Nemours, Koninklijke DSM N.V., Croda International, Corbion, Pelagia AS, Omega Protein Corporation, Olvea Group, Connoils LLC, Sonic Biochem, TerraVia Holdings, Bioway Organic Group Limited, Veramaris, AlgiSys BioSciences Inc., GC Rieber Oils, Medix Laboratoires.
Asia-Pacific was the largest region in the fish oil alternatives market in 2023. The regions covered in the fish oil alternatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fish oil alternatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Fish oil alternatives are sustainable sources of omega-3 fatty acids obtained from non-fish sources such as algae, krill, flaxseed, and chia seeds. These alternatives offer similar nutritional benefits to traditional fish oil and are mainly used as dietary supplements to promote cardiovascular health, cognitive function, joint health, and overall well-being, catering to those looking for vegan or eco-friendly options.
The primary types of fish oil alternatives include chia seed oil, soybean oil, canola oil, hemp seed oil, algae oil, walnut oil, and flaxseed oil. Chia seed oil, for instance, is rich in omega-3 fatty acids and is used in food products, dietary supplements, and skincare products. The fish species involved in traditional fish oil include anchovy, cod liver, menhaden, tuna, sardine, and salmon. These traditional sources are utilized in various sectors such as food and beverages, cosmetics and personal care, animal feed, pet food additives, pharmaceuticals, nutraceuticals, and biofuels.
The fish oil alternatives market research report is one of a series of new reports that provides fish oil alternatives market statistics, including fish oil alternatives industry global market size, regional shares, competitors with a fish oil alternatives market share, detailed fish oil alternatives market segments, market trends and opportunities, and any further data you may need to thrive in the fish oil alternatives industry. This fish oil alternatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fish oil alternatives market consists of sales of sacha inchi oil, perilla seed oil, evening primrose oil, pumpkin seed oil, olive oil, and blackcurrant seed oil. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Fish Oil Alternatives Market Characteristics3. Fish Oil Alternatives Market Trends and Strategies32. Global Fish Oil Alternatives Market Competitive Benchmarking33. Global Fish Oil Alternatives Market Competitive Dashboard34. Key Mergers and Acquisitions in the Fish Oil Alternatives Market
4. Fish Oil Alternatives Market - Macro Economic Scenario
5. Global Fish Oil Alternatives Market Size and Growth
6. Fish Oil Alternatives Market Segmentation
7. Fish Oil Alternatives Market Regional and Country Analysis
8. Asia-Pacific Fish Oil Alternatives Market
9. China Fish Oil Alternatives Market
10. India Fish Oil Alternatives Market
11. Japan Fish Oil Alternatives Market
12. Australia Fish Oil Alternatives Market
13. Indonesia Fish Oil Alternatives Market
14. South Korea Fish Oil Alternatives Market
15. Western Europe Fish Oil Alternatives Market
16. UK Fish Oil Alternatives Market
17. Germany Fish Oil Alternatives Market
18. France Fish Oil Alternatives Market
19. Italy Fish Oil Alternatives Market
20. Spain Fish Oil Alternatives Market
21. Eastern Europe Fish Oil Alternatives Market
22. Russia Fish Oil Alternatives Market
23. North America Fish Oil Alternatives Market
24. USA Fish Oil Alternatives Market
25. Canada Fish Oil Alternatives Market
26. South America Fish Oil Alternatives Market
27. Brazil Fish Oil Alternatives Market
28. Middle East Fish Oil Alternatives Market
29. Africa Fish Oil Alternatives Market
30. Fish Oil Alternatives Market Competitive Landscape and Company Profiles
31. Fish Oil Alternatives Market Other Major and Innovative Companies
35. Fish Oil Alternatives Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Fish Oil Alternatives Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on fish oil alternatives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for fish oil alternatives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fish oil alternatives market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Chia Seed Oil; Soybean Oil; Canola Oil; Hemp Seed Oil; Algae Oil; Walnut Oil; Flaxseed Oil; Other Product Types2) By Species: Anchovy; Cod Liver; Menhaden; Tuna; Sardine; Salmon; Other Species
3) By Application: Food And Beverage Industry; Cosmetics And Personal Care; Animal Feed; Pet Food Additive; Pharmaceuticals; Nutraceuticals; Bio Fuels; Other Applications
Key Companies Mentioned: Cargill Inc.; Archer Daniels Midland Company (ADM); BASF SE; Wilmar International; CHS Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Cargill Inc.
- Archer Daniels Midland Company (ADM)
- BASF SE
- Wilmar International
- CHS Inc.
- Dupont De Nemours
- Koninklijke DSM N.V.
- Croda International
- Corbion
- Pelagia AS
- Omega Protein Corporation
- Olvea Group
- Connoils LLC
- Sonic Biochem
- TerraVia Holdings
- Bioway Organic Group Limited
- Veramaris
- AlgiSys BioSciences Inc.
- GC Rieber Oils
- Medix Laboratoires
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | October 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 2.68 Billion |
Forecasted Market Value ( USD | $ 3.62 Billion |
Compound Annual Growth Rate | 7.8% |
Regions Covered | Global |
No. of Companies Mentioned | 20 |