The latest report by IMARC Group, titled “Fish Oil Market Report by Source (Anchoveta, Sardine, Capelin, Menhaden, Herring, Anchovy, and Others), Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online Stores, and Others), End Use (Aquaculture, Animal Feed, Nutritional Supplements, Pharmaceutical, and Others), and Region 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the global fish oil market report. The global 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.

Factors Affecting the Growth of Fish Oil Industry:

• Health Benefits and Increasing Awareness:

The health benefits associated with fish oil consumption have been a significant driver in the growth of the fish oil market. Fish oil is a rich source of omega-3 fatty acids, particularly eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which are essential for maintaining overall health. Numerous studies have highlighted the positive effects of omega-3 fatty acids on heart health, brain function, and reducing inflammation. With rising concerns over lifestyle diseases such as cardiovascular disorders, obesity, and mental health issues, consumers are becoming increasingly aware of the importance of incorporating omega-3 fatty acids into their diets. This heightened awareness has led to a rise in demand for fish oil supplements and fortified food products. Moreover, the growing aging population, particularly in developed regions, has further fueled the demand for fish oil-based supplements due to their potential in alleviating age-related health concerns. As consumers continue to prioritize preventive healthcare and seek natural remedies to maintain well-being, the fish oil market is expected to witness sustained growth.

• Expansion of Aquaculture Industry:

The expansion of the aquaculture industry has played a pivotal role in driving the fish oil market. Fish oil is a crucial component in aquafeed formulations, serving as a rich source of essential nutrients necessary for the growth and development of farmed fish and shrimp. As a result, the aquaculture sector has experienced rapid growth to bridge the gap between seafood demand and supply. This expansion has consequently spurred the demand for fish oil as a key ingredient in aquafeed formulations. Additionally, advancements in aquaculture technologies and practices have improved feed conversion rates and fish health, further driving the need for high-quality fish oil. As the aquaculture industry continues to expand to meet the growing demand for seafood, the fish oil market is expected to witness significant growth opportunities.

• Rising Application in Nutraceuticals and Functional Foods:

The increasing application of fish oil in nutraceuticals and functional foods has emerged as a prominent driver for the fish oil market. Nutraceuticals and functional foods are gaining popularity among health-conscious consumers seeking dietary supplements that offer additional health benefits beyond basic nutrition. Fish oil, with its rich omega-3 fatty acid content, is a sought-after ingredient in these products due to its perceived health-promoting properties. Nutraceutical manufacturers are incorporating fish oil into a wide range of products such as capsules, soft gels, fortified beverages, and functional food items, such as bread, yogurt, and spreads. These products are marketed for various health benefits, including cardiovascular health, cognitive function, joint health, and prenatal nutrition. The growing consumer preference for natural and functional ingredients, coupled with the increasing prevalence of lifestyle-related health conditions, is driving the demand for fish oil-based nutraceuticals and functional foods.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/fish-oil-market/requestsample

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).

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Source:

• Anchoveta
• Sardine
• Capelin
• Menhaden
• Herring
• Anchovy
• Others

Sardine dominates the market due to its high abundance, sustainability, and rich omega-3 fatty acid content, making it a preferred source for fish oil extraction.

Breakup by Distribution Channel:

• Hypermarkets and Supermarkets
• Specialty Stores
• Online Stores
• Others

Based on the distribution channel, the market has been divided into hypermarkets and supermarkets, specialty stores, online stores, and others.

Breakup by End Use:

• Aquaculture
  • Salmon and Trout
  • Marine Fish
  • Crustaceans
  • Tilapias
  • Others
• Animal Feed
• Nutritional Supplements
• Pharmaceutical
• Others

Aquaculture holds maximum number of shares due to the direct integration of fish oil into aquafeed formulations, serving as a primary nutrient source for farmed fish and shrimp.

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

Europe’s dominance in the fish oil market is attributed to a combination of factors including high consumer awareness about the health benefits of fish oil, strong regulatory frameworks promoting its use in functional foods and supplements, and a well-established aquaculture industry supplying fish oil for various applications.

Global Fish Oil Market Trends:

The growth of the sports nutrition industry has significantly contributed to the expansion of the fish oil market. Athletes and fitness enthusiasts are increasingly recognizing the importance of omega-3 fatty acids in supporting muscle recovery, reducing inflammation, and improving overall athletic performance. Fish oil supplements are particularly favored among this demographic due to their natural origin and perceived effectiveness in enhancing endurance and muscle strength. Additionally, technological advancements in fish oil extraction techniques have played a pivotal role in driving market growth. Innovations in extraction methods, such as supercritical fluid extraction and enzymatic hydrolysis, have enabled manufacturers to produce fish oil with higher purity levels and reduced environmental impact. These advancements have also facilitated the extraction of fish oil from alternative sources such as krill and algae, offering sustainable and vegan-friendly alternatives to traditional fish-derived oil.

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