IMARC Group, a leading market research company, has recently releases report titled “Fish Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global fish oil market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the fish oil market?
The global fish oil market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
What is fish oil?
Fish oil refers to the tissue fat extracted from various fish species, such as mackerel, anchovies, herring, sardines, carp, tuna, etc. It acts as a rich source of vitamin A, vitamin D, omega-3 fatty acids, zinc, etc. Fish oil offers several health benefits, including boosting metabolism, maintaining digestive functioning, reducing high blood pressure, lowering the risk of cardiovascular diseases, improving skin health, etc. As a result, it finds extensive utilization across various sectors, such as food and beverage (F&B), pharmaceutical, animal feed, nutritional supplements, agriculture, etc.
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What are the growth prospects and trends in the fish oil industry?
The escalating product requirement in the form of nutritional supplements on account of the rising prevalence of cardiovascular ailments, excessive hair fall, obesity, premature skin aging, etc., among individuals is among the primary factors driving the fish oil market. Besides this, the elevating demand for this tissue fat in the pharmaceutical industry, owing to the high amount of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA), is further augmenting the market growth. Apart from this, the growing usage of fish oil in several personal grooming products to protect against dermatological disorders, including wrinkles, dark circles, pigmentation, etc., is also catalyzing the global market. Moreover, the increasing need for this ingredient in the poultry and livestock sector as a feed additive for enhancing animal growth and controlling disease outbreaks is acting as another significant growth-inducing factor. Furthermore, the emerging trend of organic product variants with allergen-free, non-GMO, and chemical-free content is expected to propel the fish oil market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Source:
- Anchoveta
- Sardine
- Capelin
- Menhaden
- Herring
- Anchovy
- Others
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Specialty Stores
- Online Stores
- Others
Breakup by End Use:
- Aquaculture
- Salmon and Trout
- Marine Fish
- Crustaceans
- Tilapias
- Others
- Animal Feed
- Nutritional Supplements
- Pharmaceutical
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- China Fishery Group Limited
- Corporación Pesquera Inca S.A.C. (Copeinca AS)
- Camanchaca
- FF Skagen A/S
- Foodcorp Chile S.A (Austevoll Seafood ASA)
- OLVEA Fish Oils (OLVEA)
- Oceana Group Limited
- Pesquera Diamante S.A.
- Pioneer Fishing
- TripleNine Fish Protein A/S (TripleNine Group)
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