Fish Oil Market Size, Share, Forecast, & Trends Analysis by Grade (Feed, Food, Pharma), Process (Crude Fish Oil, Refined Fish Oil), Product (Salmon Oil, Tuna Oil, Cod Liver Oil), Application (Animal Feed, Dietary Supplements) - Global Forecast to 2031

The Fish Oil Market was valued at $3.14 billion in 2023. This market is projected to reach $4.51 billion by 2031 from an estimated $3.26 billion in 2024, at a CAGR of 4.7% during the forecast period from 2024 to 2031.

Fish Oil Market Size & Forecast

Key factors driving the growth of this market include the increasing prevalence of cardiovascular diseases (CVDs), rising awareness about livestock and pet nutrition, a shift toward healthier eating habits and changing consumer preferences, and the expansion of the aquaculture industry. Additionally, the growing awareness about the health benefits of omega-3 fatty acids and their extensive use in aquaculture and animal feed are expected to offer growth opportunities for market players.

Key Findings in the Fish Oil Market

• By Grade: The Feed Grade Segment to Dominate the Fish Oil Market in 2024
• By Process: In 2024, the Crude Fish Oil Segment is Expected to Dominate the Fish Oil Market
• By Product: In 2024, the Anchovy Oil Segment is Expected to Dominate the Fish Oil Market
• By Application: In 2024, the Aqua Feed Segment is Expected to Account for the Largest Share of the Fish Oil Market
• By Geography: Europe Dominates the Fish Oil Market in 2024

Fish Oil Market Trends

Increasing Prevalence of Cardiovascular Diseases (CVDs)

Cardiovascular diseases (CVDs) are among the leading causes of death globally. Urbanization and modernization have led to lifestyle changes that contribute to higher rates of obesity, hypertension, and diabetes, which are all significant risk factors for CVDs. As populations age and these risk factors become more prevalent, the burden of cardiovascular diseases is expected to rise in the coming years.

A report published by Cardiac Interventions in 2023 indicates that ischemic heart disease is the leading cause of CVD-related mortality worldwide, with an age-standardized death rate of 108.8 per 100,000 people, followed by intracerebral hemorrhage and ischemic stroke. Additionally, the Centers for Disease Control and Prevention (CDC) reported in 2023 that a heart attack occurs every 40 seconds in the U.S., with over 805,000 individuals experiencing heart attacks annually. Of these, approximately 605,000 are experiencing their first heart attack, while 200,000 have had a prior event. Moreover, about 1 in 5 individuals have silent heart attacks, which occur without noticeable symptoms, leaving many unaware of the damage caused.

Fish oil is widely recognized for its heart health benefits, largely due to its high omega-3 fatty acid content. As CVDs remain a leading cause of mortality, there is a growing consumer interest in preventive health measures. Omega-3 fatty acids, primarily sourced from fish oil, have been extensively researched for their role in reducing inflammation, lowering triglyceride levels, and enhancing overall cardiovascular function. This has led both health-conscious consumers and medical professionals to advocate for fish oil supplements as part of a heart-healthy diet, thereby driving market growth.

Technological Advancements in Fish Oil Extraction & Processing

Recent advancements in fish oil extraction and processing technologies have significantly impacted the fish oil market by improving both product quality and sustainability. Innovations such as green extraction methods, molecular distillation, enzymatic hydrolysis, and supercritical fluid extraction enhance processing efficiency, yielding fish oil with higher concentrations of omega-3 fatty acids like EPA and DHA. These techniques help ensure that fish oil products adhere to stringent quality standards by removing impurities such as heavy metals and contaminants, which have historically concerned consumers. As a result, the improved quality of fish oil has bolstered consumer confidence, making supplements and fortified foods more appealing to health-conscious buyers.

Moreover, the development of sustainable and eco-friendly processing techniques has helped to reduce the environmental impact of fish oil production. With growing concerns about overfishing and the depletion of marine resources, these technological innovations optimize extraction processes to minimize waste and maximize yield from each harvest. Enhanced processing techniques also improve the stability and shelf life of fish oil, reducing oxidation and degradation, which are crucial for maintaining product integrity. These improvements not only appeal to environmentally conscious consumers but also enable manufacturers to expand their offerings, creating a broader market for fish oil across different segments such as dietary supplements, pharmaceuticals, and functional foods.

Fish Oil Market Opportunities

Growing Awareness About the Health Benefits of Omega-3 Fatty Acids

Omega-3 fatty acids, specifically Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), have been widely recognized for their role in promoting heart health, reducing inflammation, supporting brain function, and improving overall well-being. Consumers are increasingly incorporating fish oil supplements and omega-3-rich foods into their diets. This rising demand is further fueled by public health campaigns, recommendations from healthcare professionals, and the growing emphasis on preventive healthcare, positioning fish oil as a key ingredient in maintaining long-term health.

Moreover, the rising popularity of omega-3 fatty acids also extends beyond individual consumers, as the food and beverage industry has begun incorporating fish oil into a variety of products, from fortified foods to functional beverages. This diversification in product offerings is tapping into a broader consumer base, including those who may not traditionally take supplements but are looking for convenient ways to enhance their nutrient intake. This increased awareness about the benefits of omega-3 fatty acids is not only driving consumer demand but also encouraging innovation within the industry, ensuring sustained growth in the global fish oil market.

Fish Oil Market Analysis: Top Market Opportunity:

By Grade: In 2024, the Feed Grade Segment is Expected to Dominate the Fish Oil Market

Based on grade, the fish oil market is segmented into feed grade, food grade, and pharma grade. In 2024, the feed grade segment is expected to account for the largest share of the fish oil market. Feed-grade fish oil is rich in omega-3 fatty acids, which are crucial for the health of aquatic species such as salmon, trout, and carp. As fish farming continues to expand to meet the global seafood demand, the demand for feed-grade fish oil is anticipated to increase proportionately, as it enhances feed efficiency, promotes fish growth, and improves overall fish quality. Moreover, feed-grade fish oil is increasingly incorporated into animal feed to boost the health and productivity of livestock, particularly in poultry and swine farming.

However, the pharma-grade segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by the high purity and concentration of beneficial omega-3 fatty acids in pharma-grade fish oil. This grade of fish oil undergoes rigorous refining processes to meet stringent pharmaceutical standards, making it suitable for use in prescription omega-3 supplements and medications. These products are often prescribed to help manage elevated triglyceride levels, reduce inflammation, and support overall heart health.

Geographical Analysis

Europe Dominates the Fish Oil Market in 2024

In 2024, Europe is estimated to account for the largest share of the global fish oil market. Europe's major market share can be attributed to various factors, including a heightened consumer emphasis on health and wellness, widespread awareness of the benefits of dietary supplements, a rising incidence of cardiovascular diseases, advancements in processing technologies, and a strong commitment to sustainable fishing practices. Additionally, the region's thriving aquaculture sector plays a crucial role, as fish oil is an essential component in aquafeed that improves the nutritional value of farmed fish. Furthermore, the European cosmetics industry is increasingly utilizing fish oil in skincare products due to its anti-inflammatory and anti-aging benefits, which further bolsters the market’s growth.

Fish Oil Market: Key Companies

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players over the past three years. The key players profiled in the global fish oil market report are Omega Protein Corporation (U.S.), TripleNine Group A/S (Denmark), FF Skagen A/S (Denmark), Pelagia AS (Norway), BASF SE (Germany), KD Pharma Group SA (Switzerland), Croda International Plc (U.K.), Colpex International S.A.C (Peru), OLVEA Group (France), SARMA FISH S.A.R.L (Morocco), Pesquera Diamante S.A. (Peru), Blueline Foods (India) Pvt. Ltd. (India), and GC Rieber VivoMega AS (Norway).

Fish Oil Industry Overview: Latest Developments from Key Industry Players

• In October 2024, KD Pharma Group SA completed the acquisition of DSM-Firmenich's marine lipids business. This acquisition encompasses DSM-Firmenich's Marine Lipids omega-3 fish oil operations serving the food and beverage, dietary supplement, and pharmaceutical sectors, along with the MEG-3 brand and production facilities located in Piura, Peru, and Mulgrave, Canada.
• In March 2023, Epax (Norway), a subsidiary of Pelagia, launched a full-spectrum oil that combines Omegas 3, 9, and 11, specifically targeting applications in skin health supplements.

Fish Oil Market Research Summary

Key questions answered in the fish oil market report: