The latest report by IMARC Group, titled “Fish Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, The global fish oil market size reached US$ 2.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.61% during 2024-2032.
Fish oil is a dietary supplement derived from the tissues of oily fish. It is rich in omega-3 fatty acids, specifically eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which are essential for various aspects of health, including heart, brain, and eye health. Fish oil is widely consumed for its potential benefits in reducing inflammation, supporting cardiovascular health, and promoting brain function. The process of making fish oil involves several steps. It typically begins with the selection of suitable fish species known for their oil content, such as mackerel, salmon, tuna, or sardines. The fish are usually obtained from fisheries or aquaculture farms. Once caught, the fish are transported to processing facilities. The first step in the manufacturing process is the separation of fish oil from the fish's flesh. The fishes are cleaned and their heads, tails, and other undesirable parts are removed. The remaining fish are then cooked, often through steaming or boiling, to facilitate the release of oil from the fish tissues. The cooked fish are pressed or centrifuged to extract the oil, leaving behind the solid residues. After extraction, the fish oil undergoes a refining process to remove impurities and unwanted components. This involves processes such as filtering, degumming, and distillation to remove contaminants, heavy metals, and other undesirable substances. The refined fish oil is then packaged and sold as a dietary supplement in various forms, including capsules, liquid oils, or as an ingredient in functional foods.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/fish-oil-market/requestsample
Fish Oil Market Trends and Drivers:
One of the primary factors driving the market is the growing consumer awareness regarding the health benefits associated with fish oil consumption. Fish oil is known for its high content of omega-3 fatty acids, which are essential for heart health, brain function, and inflammation reduction. The increasing prevalence of chronic diseases, such as cardiovascular disorders and cognitive decline, has also encouraged consumers to seek natural dietary supplements like fish oil to support their health and well-being. Additionally, the expansion of the aquaculture industry is creating a positive market outlook. Fish oil is widely used in aquaculture feed to enhance the growth, development, and overall health of farmed fish. With the rising demand for fish and seafood products, the aquaculture industry has witnessed substantial growth. Consequently, the demand for fish oil as a crucial ingredient in fish feed has also increased, contributing to the growth of the global fish oil market. Besides this, the animal feed industry also plays a significant role in driving the fish oil market. Fish oil is used as an ingredient in animal feed formulations for various livestock, including poultry, swine, and cattle. It is recognized for its nutritional value, promoting growth, and improving feed conversion efficiency in animals. As the demand for high-quality animal protein rises, particularly in developing countries, the animal feed industry is expected to grow, consequently driving the demand for fish oil. Other than this, omega-3 fatty acids, specifically EPA and DHA found in fish oil, are associated with numerous health benefits, including heart health, brain function, and eye health. As consumers increasingly recognize the importance of omega-3 fatty acids in their diet, the demand for fish oil as a convenient source of these essential nutrients is growing. Furthermore, factors such as expanding pharmaceutical and nutraceutical industries, technological advancements in fish oil extraction and refining processes, and the development of sustainable fish oil production methods are also propelling the market growth.
Report 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
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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).
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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