| Market Size 2023 (Base Year) | USD 3.41 Billion |
| Market Size 2032 (Forecast Year) | USD 5.38 Billion |
| CAGR | 5.2% |
| Forecast Period | 2024 - 2032 |
| Historical Period | 2018 - 2023 |
According to Market Research Store, the global fish oil market size was valued at around USD 3.41 billion in 2023 and is estimated to reach USD 5.38 billion by 2032, to register a CAGR of approximately 5.2% in terms of revenue during the forecast period 2024-2032.
The fish oil report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.
Fish oil is a nutrient-rich oil extracted primarily from the tissues of oily fish such as mackerel, salmon, anchovies, sardines, and herring. It is a significant source of omega-3 fatty acids, particularly eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which are known for their numerous health benefits, including cardiovascular support, cognitive function, and anti-inflammatory properties. Fish oil is widely consumed in the form of dietary supplements, capsules, and fortified foods, and is also used in pharmaceuticals, animal feed, aquaculture, and cosmetics due to its nutritional and functional value.
The growth of the fish oil market is driven by increasing health awareness among consumers, rising demand for omega-3 supplements, and expanding applications across functional foods and nutraceuticals. The growing incidence of lifestyle-related disorders, such as obesity and heart disease, has propelled the consumption of dietary supplements rich in EPA and DHA.
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| Report Attributes | Report Details |
|---|---|
| Report Name | Fish Oil Market |
| Market Size in 2023 | USD 3.41 Billion |
| Market Forecast in 2032 | USD 5.38 Billion |
| Growth Rate | CAGR of 5.2% |
| Number of Pages | 167 |
| Key Companies Covered | TASA, Omega Protein Corporation, Copeinca AS, Corpesca SA, FMC Corporation, TripleNine, Pesquera Diamante S.A, Marvesa Holding N.V., Pesquera Exalmar, FF Skagen A/S and Colpex international |
| Segments Covered | By Product Type, By Technology, And By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2023 |
| Forecast Year | 2024 to 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The global fish oil market is divided by application, species, and region.
Based on application, the global fish oil market is divided into human consumption, aquaculture, pet food, and others. Human Consumption is the leading application segment in the fish oil market, primarily driven by the increasing demand for dietary supplements and functional foods. Fish oil is highly valued for its omega-3 fatty acids, particularly EPA and DHA, which support cardiovascular health, cognitive function, eye health, and inflammation reduction. The popularity of natural and preventive healthcare solutions has significantly boosted the use of fish oil in capsules, soft gels, and fortified food products. Clinical studies validating the benefits of fish oil for general wellness and chronic disease prevention further reinforce its dominance in this segment.
On the basis of species, the global fish oil market is bifurcated into traditional pelagic and demersal species, tuna, salmon, pangasius, and tilapia. Traditional Pelagic and Demersal Species dominate the fish oil market due to their widespread availability, established harvesting methods, and rich oil content. Species such as anchovy, mackerel, sardine (pelagic), and cod or hake (demersal) are heavily utilized in industrial fish oil production. These species are preferred for their high concentrations of omega-3 fatty acids, particularly EPA and DHA, making them ideal for human supplements, aquaculture feed, and pharmaceutical applications. Their consistent catch volumes and established global trade routes further strengthen their leadership in the fish oil supply chain.
North America dominates the global fish oil market due to the region's high consumption of omega-3 dietary supplements, strong aquaculture industry, and increasing awareness regarding the health benefits of fish oil. The United States plays a major role, with strong demand for fish oil in pharmaceuticals, nutraceuticals, and functional foods. The region also has robust regulatory frameworks supporting quality and sustainability certifications, which boosts consumer confidence. The expansion of aqua feed production, particularly for farmed salmon, further drives market growth. Additionally, innovation in encapsulated fish oil and fortified food products is accelerating the commercial use of fish oil across various end-use sectors in North America.
Europe holds a significant share in the global fish oil market, largely driven by its advanced aquaculture industry and growing demand for health supplements. Countries such as Norway, Denmark, and the United Kingdom are key producers and consumers of fish oil, particularly for aquafeed applications. Norway, in particular, is a global leader in salmon farming, contributing to steady fish oil consumption. Additionally, the European population’s rising focus on heart health, joint health, and cognitive well-being supports growing demand for omega-3 supplements. Regulatory initiatives promoting sustainable fisheries and traceability also strengthen market dynamics in the region.
Asia-Pacific is experiencing rapid growth in the fish oil market, driven by rising aquaculture activities and increasing health awareness in countries like China, India, Japan, and Vietnam. China is a major consumer of fish oil for aquafeed applications, especially in farming species like carp, tilapia, and shrimp. Japan and South Korea exhibit strong demand for pharmaceutical and nutritional uses, while India is emerging as a growth market due to a growing middle class and increasing consumption of dietary supplements. Rising investments in domestic fish oil production, as well as improving distribution channels, are expected to fuel long-term market expansion across the region.
The report provides an in-depth analysis of companies operating in the fish oil market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.
Some of the major players in the global fish oil market include:
By Application
By Species
By Region
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