Market Size of Fish Oil Omega-3 Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.10 % |
| Fastest Growing Market | South America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fish Oil Omega-3 Market Analysis
The global fish oil omega-3 market is projected to record a CAGR of 9.1% over the next five years.
- The growing consumer demand drives the fish oil omega-3 market due to the increased awareness of the health benefits of fish products and dietary supplements. For instance, it can increase HDL (good) cholesterol levels and may also lower LDL (bad) cholesterol levels. Even in small doses, it helps reduce blood pressure in people with elevated levels. Health experts worldwide have substantially increased the recommended daily dietary intake of omega-3 fatty acids, increasing fish oil consumption.
- With this increased demand, manufacturers focus on adding fish oil to different products. Additionally, the fish oil omega-3 market's growth is being supported by the research and development efforts channeled toward improving procurement practices, enhancing the extraction process of omega-3 fatty acids, and sustainably streamlining the entire value chain of the industry.
- Moreover, by moving to fish oil alternatives, baby milk manufacturers are seizing the chance to advocate sustainability at the front of the pack. Brands are also eager to take advantage of its safety, naturalness, and purity qualities as value-added ingredients. Animals, like humans, require their recommended daily amount of long-chain polyunsaturated fatty acids to guarantee proper development. Nearly all the fatty acids supplied to aquaculture feed now come from marine sources, like fish oil and fishmeal.
- Simultaneously, manufacturers are merging and partnering with biotechnological companies to research and innovate their products, thus capturing the growing demand for such animal feed products. For instance, in July 2021, a United Kingdom-based animal nutrition company (Devenish) joined forces with a Canadian biotechnology company (Mara Renewables Corporation) to naturally enrich animal feed with a sustainable omega-3 DHA solution.
- Such innovations happening in the industry are expected to boost the market's growth during the forecast period. However, the high price of products can potentially hamper the market's growth. Here manufacturers have a great opportunity to launch affordable products, thus catering to a large group of consumers.
Fish Oil Omega-3 Industry Segmentation
Fish oil omega-3 improves good cholesterol levels and reduces blood triglyceride levels. It positively helps people who have or are prone to cardiovascular diseases.
The global fish oil omega-3 market is segmented by species, application, and geography. By species, the market is segmented into fish oil derived from species such as anchovy, cod liver, menhaden, tuna, sardine, salmon, and other species. Further, based on application, the market is segmented into dietary supplements, infant nutrition, animal nutrition, and other applications. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, Middle East, and Africa.
For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Species | |
| Anchovy | |
| Cod Liver | |
| Menhaden | |
| Tuna | |
| Sardine | |
| Salmon | |
| Other Species |
| By Application | |
| Dietary Supplements | |
| Infant Nutrition | |
| Animal Nutrition | |
| Other Applications |
| Geography | |||||||||
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Fish Oil Omega-3 Market Size Summary
The fish oil omega-3 market is experiencing significant growth, driven by increasing consumer awareness of the health benefits associated with omega-3 fatty acids. This awareness has led to a rise in demand for fish oil as a dietary supplement, known for its ability to improve cholesterol levels and reduce blood pressure. Manufacturers are responding by incorporating fish oil into a variety of products and investing in research and development to enhance extraction processes and sustainability practices. The market is also benefiting from the growing trend of using fish oil alternatives in baby milk products, emphasizing natural and pure ingredients. Additionally, the aquaculture sector's expansion, with its reliance on marine sources like fish oil, is further propelling market growth. Collaborations between manufacturers and biotechnological companies are fostering innovation, particularly in animal feed, which is increasingly enriched with sustainable omega-3 solutions.
The Asia-Pacific region dominates the global fish oil omega-3 market, fueled by high fishery activity and a growing aging population that is increasingly health-conscious. Countries like China and Japan are significant contributors to the market, with China focusing on high-quality pharma-grade fish oil and Japan seeing a rise in consumption due to health concerns among seniors. The market is characterized by fragmentation and intense competition, with key players engaging in vertical integration and research to meet diverse consumer demands. Recent product launches, such as natural omega-3 products and specialized fish oil blends for pets, highlight the industry's innovative efforts. Despite the high cost of products posing a challenge, there is a substantial opportunity for manufacturers to introduce more affordable options, thereby expanding their consumer base.
Fish Oil Omega-3 Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Species
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2.1.1 Anchovy
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2.1.2 Cod Liver
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2.1.3 Menhaden
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2.1.4 Tuna
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2.1.5 Sardine
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2.1.6 Salmon
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2.1.7 Other Species
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2.2 By Application
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2.2.1 Dietary Supplements
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2.2.2 Infant Nutrition
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2.2.3 Animal Nutrition
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Germany
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2.3.2.5 Russia
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2.3.2.6 Italy
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 South Africa
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2.3.5.2 United Arab Emirates
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2.3.5.3 Rest of Middle-East and Africa
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Fish Oil Omega-3 Market Size FAQs
What is the current Fish Oil Omega-3 Market size?
The Fish Oil Omega-3 Market is projected to register a CAGR of 9.10% during the forecast period (2024-2029)
Who are the key players in Fish Oil Omega-3 Market?
Koninklijke DSM N.V., Omega Protein Corporation, BASF SE, Pelagia AS and Croda International PLC are the major companies operating in the Fish Oil Omega-3 Market.
