Fish Oil Market

Fish Oil Market Study by Salmon, Tuna, Cod Liver, Sardine, Squalene, Krill, Anchovy, and Menhaden for Aqua-Feed, F&B, Dietary Supplements, and Cosmetic & Beauty Products from 2024 to 2034

Analysis of Fish Oil Market Covering 30+ Countries Including Analysis of US, Canada, UK., Germany, France, Nordics, GCC countries, Japan, Korea and many more

Fish Oil Market Outlook (2024 to 2034)

Revenue from the global fish oil market is estimated at US$ 2.26 billion in 2024 and is expected to increase to US$ 3.99 billion by the end of 2034. Worldwide demand for fish oil has been projected to rise at a value CAGR of 5.9% from 2024 to 2034.

Fish oil is an excellent source of omega-3 fatty acids. Omega-3 fatty acids lower the risk of heart disease, arthritis, and asthma, as well as aid in brain development and function. Several companies in the functional food industry are including fish oil in their products due to its omega-3 fatty acid content, which is attracting a larger consumer base. Consumers are purchasing functional food products that have fish oil included as they are finding this an excellent way of increasing omega-3 intake. Fish oil or omega-3 fatty acids are becoming increasingly common in many functional food products such as pasta, yogurt, bread, and others.

The health benefits of anchovy oil, cod oil, menhaden oil, and mackerel oil are pretty well known. Sales of cod oil are gaining traction owing to its extremely nutritious properties, meeting nearly all of the nutritional needs for vitamins D and A.

Key Market Growth Drivers

  • The fish oil market size is expanding steadily due to its growing use in supplements because of its health benefits linked to omega-3 acids. It helps in enhancing cardiovascular health, cognitive function, anti-inflammatory qualities, and others.
  • Fish oil sales are increasing due to its increasing popularity as supplement forms such as liquids, soft gels, capsules, and others.
  • Growing demand for functional food products and dietary supplements is further boosting market expansion.
  • A key fish oil market trend that is increasing emphasis on healthcare and wellness because of growing health-related problems is encouraging more consumers to include fish oil in their regular diets to manage chronic illnesses and preserve health.
  • Fish oil is being used more in food formulations to boost their nutritional value due to the growing demand for omega-3-enriched foods and drinks.
  • Quality, purity, and stability of fish oil products are increasing due to technological advancements in fish oil extraction and processing, which appeal to both manufacturers and customers.
  • Fish oil demand is increasing among aged people who are looking for supplements to help cognitive function, cardiovascular health, and joint health.

Report Attribute

Detail

Fish Oil Market Size (2024E)

US$ 2.26 Billion

Forecasted Market Value (2034F)

US$ 3.99 Billion

Global Market Growth Rate (2024 to 2034)

5.9% CAGR

East Asia Market Share (2024E)

23.8%

North America Market Value (2024E)

US$ 534 Million

Food Grade Fish Oil Segment Value (2034F)

US$ 1.8 Billion

Modified Fish Oil Segment Value (2034F)

US$ 1.48 Billion

Key Companies Profiled

  • Croda International Plc
  • Pelagia AS
  • Sursan A.S.
  • Ocean Group Limited
  • GC Rieber Oils
  • Tecnológica de Alimentos SA
  • Golden Omega
  • Stepan Company
  • BASF SE
  • TripleNine Group
  • Pesquera Exalmar S.A.A

What’s Driving Up Sales of Fish Oil Across the Globe?

“Growing Demand for Fish Oil-Based Supplements”

Global fish oil market growth is being driven primarily by the increasing demand for dietary supplements, due to its well-known advantages, especially its high omega-3 fatty acid content. Fish oil is gaining popularity due to the increasing demand for functional foods and supplements from people who are aiming to improve their health or are focusing on living active lifestyles. Fish oil is easily accessible and comes in various formats such as liquids, soft gels, and capsules. Fish oil demand is continuously increasing as it is an important component of numerous health and wellness products.

Which Factors are Restraining Growth Opportunities for Companies?

“Fluctuation in Raw Material Prices and Contamination of Dangerous Materials”

The market for fish oil is being hit by fluctuations in the cost of raw materials, particularly fish, which vary depending on seasonal availability and fishing laws. Because of this, the fluctuation in the price of raw materials leads to uncertainty for consumers and manufacturers, which ends up impacting overall market stability and expansion.

Another reason is worries about contamination with dangerous materials such as polychlorinated biphenyls (PCBs) and mercury. It is imperative to ensure the quality and purity of fish oil. Rising trend toward veganism is also hampering market growth to some extent as more companies are launching alternative plant-based products to fish oil for omega-3 intake such as algal oil.

  • In January 2024, PhytoLove introduced a whole plant-based omega supplement using regenerative-grown seeds in Australia.

Country-wise Insights

The East Asia region is projected to lead with 23.8% of the global market share in 2024, which is projected to increase to 25% by the end of 2034. The nutraceuticals business is highly competitive and growing in popularity across East Asia. Increasing research and study on marine-based health supplements and their benefits for human health is contributing to the increasing application of marine by-products in nutraceuticals. The North American region is poised to account for 23.7% of the worldwide fish oil market share in 2024.

What is the Demand Outlook for Fish Oil in the United States?

“High Demand for Fish Oil-based Dietary Supplements”

Attribute

United States

Market Value (2024E)

US$ 413.5 Million

Growth Rate (2024 to 2034)

4.5% CAGR

Projected Value (2034F)

US$ 644.6 Million

 

The United States is set to hold 77.4% of the North American market share in 2024. With the growing demand for dietary supplements in the country for illness prevention and management, fish oil has gained popularity as a key ingredient. Fish oil is known as a source of vital omega-3 fatty acids, which is contributing to its increasing demand as more people look to improve their overall wellness and manage chronic health concerns. Fish oil products are widely available in the United States and also have broad availability in different supplement forms.

Why are Fish Oil Products Gaining Popularity in South Korea?

“Increasing Availability of Fish Oil Products through Different Distribution Channels”

Attribute

South Korea

Market Value (2024E)

US$ 28.5 Million

Growth Rate (2024 to 2034)

8.2% CAGR

Projected Value (2034F)

US$ 63 Million

 

Demand for fish oil is increasing in South Korea because of growing product availability through different sales channels. Today’s market offers a wide range of premium and regular fish oil products to meet various consumers' demands and tastes, such as liquid supplements, fortified foods, and pills. More people in South Korea are looking to include fish oil in their daily routines, whether for specific wellness goals or health maintenance, complemented by its increasing availability. Improved channels of distribution such as drugstores, health stores, and internet sites, make these products even easier to obtain, which helps explain why South Korean customers are becoming more interested in them.

Category-wise Insights

Based on product type, the market is segmented into salmon, tuna, cod liver, sardine, squalene, krill, anchovy, and menhaden. Anchovies are rich in omega-3 fatty acids, proteins, vitamins, and minerals that promote a healthy environment, as per USDA Food Data Central. Use of fish oil in aquaculture is also driving demand for anchovy fish oil in the global market.

Sardine oil, mackerel oil, and salmon oil are used for the manufacturing of fish body oil. Demand for fish body oil is gaining traction owing to its various health benefits.

Why is Demand for Food Grade Fish Oil High Worldwide?

“Food Grade Improving Nutritional Profile of Several Eatables”

Attribute

Food Grade Fish Oil

Segment Value (2024E)

US$ 999 Million

Growth Rate (2024 to 2034)

6.1% CAGR

Projected Value (2034F)

US$ 1.8 Billion

 

Food-grade fish oil is in high demand because of its ability to improve the nutritional profile of various food products. Food-grade fish oil is used to supplement dairy products, baked goods, and beverages with omega-3 fatty acids, which are necessary for heart health, brain function, and overall well-being. More consumers are looking for healthier foods with additional nutritional benefits, and due to this, food-grade fish oil is becoming a popular choice. Also, strict quality standards and safety rules in several countries for food-grade fish oil ensure that it fulfils the high purity and quality criteria for human consumption, driving up demand in the food industry.

Why is Consumption of Modified Fish Oil Increasing Fast?

“Usefulness in Fortified Food Products and Speciality Supplements”

Attribute

Modified Fish Oil

Segment Value (2024E)

US$ 860 Million

Growth Rate (2024 to 2034)

5.6% CAGR

Projected Value (2034F)

US$ 1.48 Billion

 

Modified fish oil is in higher demand than crude and refined variants because of its improved qualities and specific application. Modified fish oil goes through processing to concentrate essential omega-3 fatty acids and remove contaminants, making it ideal for health and nutrition. This method increases its stability, purity, and bioavailability, ensuring that it provides more health advantages.

Modified fish oil is widely utilized in specialty supplements and fortified foods that require precise nutritional profiles and increased levels of omega-3s. As consumers and producers seek more personalized solutions with more efficacy, demand for modified fish oil will rise faster in comparison to crude and refined alternatives.

Competitive Landscape

As health supplements are becoming more popular, key players in the fish oil market are focusing on offering omega fish oil/omega-3 supplements in the global market. Due to the high level of competition, manufacturers are offering products with additional nutrients. Several fish oil manufacturers are also focusing on introducing new products in the global market owing to increased demand for fish oil from the pharmaceutical industry.

  • In March 2024, with a 'full spectrum' impact, Epax unveiled a skin health supplement that combines well-known omega-3s with 'up-and-coming omegas-9 and 11'.
  • In March 2023, Life Extension introduced new gummy fish oil omega-3 bits.

Fact.MR provides detailed information about the price points of key manufacturers of fish oil positioned across the world, sales growth, production capacity, and speculative technological expansion, in this updated market report.

Segmentation of Fish Oil Market Research

By Product:

  • Salmon
  • Tuna
  • Cod Liver
  • Sardine
  • Squalene
  • Krill
  • Anchovy
  • Menhaden

By Grade:

  • Feed
  • Food
  • Pharma

By Process:

  • Crude
  • Refined
  • Modified

By End Use:

  • Aqua-Feed
    • Crustaceans
    • Marine Fish
    • Salmon & Trout
    • Eels
    • Cyprinids
    • Tilapias
  • Food & Beverages
  • Dietary Supplements
  • Cosmetic & Beauty Products

By Distribution Channel:

  • Business to Business (Manufacturers & Distributors)
  • Business to Consumer
    • Modern Trade (Hypermarkets & Supermarkets)
    • Convenience Stores
    • Grocery Stores
    • Medical Stores
    • Discount Stores
  • E-commerce/Online Stores

By Region:

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Table of Content

  1. Executive Summary
  2. Industry Introduction, including Taxonomy and Market Definition
  3. Fish Oil Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
  4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
  5. Pricing Analysis
  6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
    • Grade
    • Product
    • Process
    • End Use
    • Distribution Channel
  7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Grade
    • Feed
    • Food
    • Pharma
  8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product
    • Salmon
    • Tuna
    • Cod Liver
    • Sardine
    • Squalene
    • Krill
    • Anchovy
    • Menhaden
  9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Process
    • Crude
    • Refined
    • Modified
  10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use
    • Aqua-Feed
    • Food & Beverages
    • Dietary Supplements
    • Cosmetic & Beauty Products
  11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
    • Business to Business (Manufacturers & Distributors)
    • Business to Consumer
    • E-commerce/Online Stores
  12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa
  13. North America Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  14. Latin America Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  15. Western Europe Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  16. Eastern Europe Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  17. East Asia Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  18. South Asia & Pacific Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  19. Middle East & Africa Fish Oil Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  20. Sales Forecast 2024 to 2034 by Grade, Product, Process, End Use, Distribution Channel, and Region for 30 Countries
  21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
  22. Company Profile
    • Croda International Plc
    • Pelagia AS
    • Sursan A.S.
    • Ocean Group Limited
    • GC Rieber Oils
    • Tecnológica de Alimentos SA
    • Golden Omega
    • Stepan Company
    • BASF SE
    • TripleNine Group
    • Pesquera Exalmar S.A.A
  23. Assumptions and Acronyms Used
  24. Research Methodology

Don't Need a Global Report?

save 40%! on Country & Region specific reports

- FAQs -

How big is the fish oil market in 2024?

The global market for fish oil is estimated at US$ 2.26 billion in 2024.

What are the forecasted sales for fish oil by 2034?

Sales of fish oil are projected to reach US$ 3.99 billion by the end of 2034.

What is the demand growth projection for the global market?

Worldwide demand for fish oil is forecasted to rise at a CAGR of 5.9% from 2024 to 2034.

At what rate is the Japanese market forecasted to expand?

The market in Japan is projected to expand at a CAGR of 7% from 2024 to 2034.

Who are the leading producers of fish oil in the world?

Leading companies in the market are Croda International Plc., Pelagia AS, Sursan A.S., Ocean Group Limited, and GC Rieber Oils.

What is the projection for the market in East Asia?

The market in East Asia is projected to generate revenue worth US$ 997 million by 2034.

At what rate is the demand for feed-grade fish oil set to rise?

Demand for feed-grade fish oil is projected to increase at 6.4% CAGR through 2034.

- Also of Interest -

Algal Oil Market

Algal Oil Market Study by Food, Feed, and Fuel Grade for F&B, Personal Care & Cosmetics, Pharmaceuticals, Animal Feed, Nutraceuticals, and Biofuel from 2024 to 2034

Marine Oil Market

Marine Oil Market Forecast, Trend Analysis & Competition Tracking by Product Type (Fish Oil, Algae Oil, Blended Fish Oil), By Processing, By End User and Region - Global Market Insights 2025 to 2035

EPA and DHA Omega-3 Ingredient Market

EPA and DHA Omega-3 Ingredient Market Analysis by Technical Grade, Food Grade, Pharma Grade, and Feed Grade from 2023 to 2033

Cod Fish Market

Cod Fish Market Size, Trend Analysis & Competition Tracking By Type (Atlantic cod fish, Pacific cod fish, Greenland cod fish), By Source Type (Farmed, Wild Captured), By End-products type (Fresh, Canned, Frozen), By Sales channel type (Direct, Indirect) -Global Market Insights 2021 to 2028

Fish Oil Market

Schedule a Call