Fish Oil Market Growth, Analysis, and Forecast by 2028

The fish oil market was valued at US$ 2,087.39 million in 2021 and is projected to reach US$ 3,178.28 million by 2028. It is expected to grow at a CAGR of 6.2% from 2021 to 2028.

Fish oil is derived from tissues of various fish species and includes omega-3 fatty acids, such as eicosapentaenoic acids (EPA) and docosahexaenoic acids (DHA). They provide various health benefits, including reduced risk of death due to heart attack, dangerous abnormal heart rhythms, lowered triglycerides, and strokes.

In 2020, Asia Pacific dominated the global fish oil market and is expected to retain its dominance during the forecast period. The rising awareness related to health benefits and the rich nutritional profile of fish oil is driving the fish oil market growth across the region. Along with this, the increased prevalence of chronic diseases across various countries in the region is leading to increased demand for fish oil. For instance, in Australia, fifty percent of Australians are estimated to have at least 1 of 8 selected common chronic disease conditions: cancer, cardiovascular disease, mental health conditions, arthritis, back pain and problems, chronic obstructive pulmonary disease, asthma, and diabetes. These factors are expected to aid the demand growth of fish oil across the region.

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Fish Oil Market: Strategic Insights

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Market Insights

Wide Range of Applications of Fish Oil in Different Industries

Fish oil is increasingly used in various industries, such as pharmaceuticals, dietary supplements, animal nutrition and pet food. It finds significant application in pharmaceuticals and is considered natural oil or EPA-DHA concentrates. It is also used for animal feed as it provides growth-promoting effects and is an inexpensive energy source. Apart from this, it is also used in pet food and helps strengthen the dogs' immune system while it also helps fight canine cancer. Fish oil is also used as a dietary supplement where the capsules are traditionally made using gelatin that covers the oil in the soft-gel capsules. Thus, the usage of fish oil in different industries is driving the fish oil market growth.

Species Type Insights

Based on the species type, the fish oil market is bifurcated into blue whiting, anchoveta, sardine, capelin, and others. In 2020, the sardine segment was the fastest-growing segment in the market. Sardine is a small, herring-like fish with various nutritional benefits similar to other fishes such as salmon. The oil extracted from sardine is also used as a lubricant and is mostly used in paints, varnishes, biofuels, and linoleum.

Pesquera Exalmar S.A.A.; Omega Protein Corporation; Pelagia AS; Copeinca; Coplex International S.A.C; Triplenine; FF Skagen A/S; DSM; Croda International PLC; and BASF SE are the key players operating in the fish oil market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.  

Report Spotlights

• Progressive trends in the fish oil industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the global fish oil market from 2019 to 2028
• Estimation of the demand for fish oil across various industries
• Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and the demand for the fish oil  
• Market trends and outlook coupled with factors driving and restraining the growth of the fish oil market
• Understanding regarding the strategies that underpin commercial interest with regard to the global fish oil market growth, aiding in the decision-making process
• Fish oil market size at various nodes of market
• Detailed overview and segmentation of the global fish oil market as well as its industry dynamics
• Fish oil market size in various regions with promising growth opportunities

Fish Oil Market Regional Insights

The regional trends and factors influencing the Fish Oil Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Fish Oil Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Fish Oil Market Report Scope

Fish Oil Market Players Density: Understanding Its Impact on Business Dynamics

The Fish Oil Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

The "Global Fish Oil Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the trend analysis of the global fish oil market. The report aims to provide an overview of the market with detailed market segmentation. The fish oil market is analyzed on three fronts: Species type, application, and geography. Based on the species type, the market is bifurcated into blue whiting, anchoveta, sardine, capelin, and others. Based on application, the fish oil market is bifurcated into pharmaceuticals, animal nutrition and pet food, aquaculture, dietary supplements, and others. Based on geography, the fish oil market is segmented into five main regions—North America, Europe, Asia-Pacific, the Middle East and Africa, and South and Central America.

Company Profiles

• BASF SE
• Copeinca
• Coplex International S.A.C
• Croda International PLC
• DSM
• FF Skagen A/S
• Omega Protein Corporation
• Pelagia AS
• Pesquera Exalmar S.A.A.
• Triplenine