Fish Oil Market: Projected Growth to Reach US$ 23.8 Billion by 2032 – An In-Depth Analysis of Industry Trends and Forecasts


The global fish oil market size was valued at US$ 12.3 Billion in 2022 and is estimated to reach US$ 23.8 Billion by 2032 with a CAGR of 6.8% from 2022 to 2032.

As health supplements gain popularity, leading fish oil companies focus on offering omega fish oil/omega-3 supplements to the global market. As a result of the intense rivalry, producers are adding more nutrients to their offerings.

Because of the rising demand for fish oil in the pharmaceutical business, major fish oil producers are focusing on producing new products for the global market.

Aquaculture, animal nutrition and pet feed, supplements and functional food, pharmaceuticals, and other businesses all require significant amounts of omega-3 fatty acids. Furthermore, fish oil promotes the correct functioning of the neurological and cardiovascular systems.

As doctors and the general public become more aware of the importance of omega-3 fatty acids, fish oil consumption has increased substantially. As a result, companies are developing nutraceutical products with enriched EPA and DHA. The increased need for EPA and DHA in human nutrition has had an impact on the global fish oil market.

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Key Takeaways from Market Study

  • With a market share of 32.1 percent in 2021, North America will continue to dominate the worldwide market.
  • China’s market is projected to be strengthened by the ingredient’s potential for sports nutrition, as well as expanding chances for highly personalised nutrition.
  • Australia currently controls 73.4 percent of the Oceania market and is expected to increase at an annual rate of 8.7% in the next years.
  • India is one of the fastest-growing economies in South Asia, and fish oil is in high demand.
  • In 2021, India’s fish oil demand is expected to be worth USD 37.7 million.
  • In 2021, sales of pharmaceutical-grade fish oil are estimated to account for more than 48% of total sales.
  • Fish liver oil sales are increasing as a result of the increased demand for sardine oil in animal feed.
  • Germany held a 24.2 percent market share in Europe in 2021

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Competitive Landscape

The fish oil industry is slightly fragmented, varied, and competitive, with a number of small and mid-sized businesses actively engaged in product development and research. Every region has seen the growth of subsidiaries, commercial divisions, and research institutes supported by major participants in the fishmeal and fish oil sector.

Some of the leading companies offering Fish Oil are Omega Protein Corporation, FF Skagen A/S, Pesquera Diamante S.A., Copeinca AS, Marvesa Holding N.V., Pesquera Exalmar, Corpesca S.A., Colpex International, FMC Corporation, TripleNine Group A/S.

Key Segments Covered

By Grade:

  • Feed Grade Fish Oil
  • Food Grade Fish Oil
  • Pharma Grade Fish Oil

By Process:

  • Crude Fish Oil
  • Refined Fish Oil
  • Modified Fish Oil

By Product:

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

By End User:

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

By Sales Channel:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Store
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa-MEA

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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