Global Fish Oil Market to Hit $3.99 Billion by 2034 Amid Rising Demand

Growing Demand for Omega-3 Rich Supplements Driving Up Sales of Fish Oil as Key Ingredient: Fact.MR Report

/EIN News/ -- Rockville Pike, Feb. 18, 2025 (GLOBE NEWSWIRE) -- According to a revised industry research report published by Fact.MR, the global fish oil market is projected to reach a size of US$ 2.26 billion in 2024 and further advance at a CAGR of 5.9% from 2024 to 2034.

The market for fish oil is expanding steadily mainly because more people are looking for nutritional supplements due to their many benefits, particularly the high amount of omega-3 fatty acids in them. Rising demand for functional foods and supplements, especially from those looking to enhance their health or lead active lifestyles, has led to a surge in the popularity of fish oil as a key ingredient. Fish oil is widely available in liquid, soft gel, and capsule form. Since it is a crucial component of many health and wellness products, demand for it is constantly rising across the world.

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The East Asia region is forecasted to lead with a significant market share throughout the projection period. In East Asia, the nutraceuticals industry is becoming more well-known while remaining fiercely competitive. Marine by-products are finding more use in nutraceuticals as a result of growing research and studies on marine-based health supplements and human health advantages.

Key Takeaways from Market Study

• The global fish oil market is projected to reach US$ 3.99 billion by 2034-end.
• East Asia is expected to account for 25% of the global market share by the end of 2034.
• The North American market is estimated to reach a valuation of US$ 534 million in 2024.
• In 2024, China is set to hold 76.2% of the market share in the East Asia region.
• By process, demand for modified fish oil is projected to rise at 5.6% CAGR from 2024 to 2034.
• Sales of fish oil in South Korea are forecasted to increase at 8.2% CAGR through 2034.
• Based on grade, revenue from food-grade fish oil is forecasted to reach US$ 1.8 billion by 2034.

“Leading fish oil manufacturers are on providing omega fish oil/omega-3 supplements in market as health supplements have gained immense popularity over the past few years,” highlights a Fact.MR analyst

Increasing Demand for Modified Fish Oil

Since modified fish oil has better properties and specific usage, it is more in demand than crude and refined fish oil. To concentrate important omega-3 fatty acids and eliminate impurities, modified fish oil is processed, increasing its nutritional and health benefits. This process ensures that it offers additional health benefits with higher stability, purity, and bioavailability.

When specific nutritional profiles and elevated omega-3 levels are needed, modified fish oil is commonly used in specialist supplements and fortified foods. The market for modified fish oil is growing relative to crude and refined alternatives as producers and customers look for more individualized and effective solutions.

Key Market Players Driving the Fish Oil Market

Some of the leading players driving the Fish Oil Market include Croda International Plc; Pelagia AS; Sursan A.S.; Ocean Group Limited; GC Rieber Oils; Tecnológica de Alimentos SA; Golden Omega; Stepan Company; BASF SE; TripleNine Group; Pesquera Exalmar S.A.A.

Industry News in the Fish Oil Market

With the rising popularity of health supplements, key players in the fish oil market are prioritizing omega fish oil and omega-3 supplement offerings. To stay competitive, manufacturers are enhancing their products with additional nutrients and expanding their portfolios to meet the growing demand from the pharmaceutical sector.

In March 2024, Epax launched a skin health supplement with a 'full spectrum' impact, combining traditional omega-3s with emerging omegas-9 and 11. Similarly, in March 2023, Life Extension introduced gummy fish oil omega-3 bites, catering to the increasing consumer preference for convenient supplement formats.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the fish oil market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product (salmon, tuna, cod liver, sardine, squalene, krill, anchovy, menhaden), grade (feed, food, pharma), process (crude, refined, modified), end use (aqua-feed, food & beverages, dietary supplements, cosmetic & beauty products), and distribution channel (business to business, business to consumer, e-Commerce/online stores), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

Discover Additional Market Insights from Fact.MR Research

The global EPA and DHA omega-3 ingredient market is set to expand at a CAGR of 7.2%, growing from US$ 3.06 billion in 2023 to US$ 6.13 billion by 2033. EPA (Eicosapentaenoic Acid) and DHA (Docosahexaenoic Acid) are essential omega-3 fatty acids vital for human health, primarily found in fish and seafood.

The global non-fish omega-3 supplement market was valued at US$ 212.9 million in 2022 and is projected to grow at a CAGR of over 9% from 2023 to 2033. Rising consumer preference for plant-based and sustainable omega-3 sources is driving market expansion, with capsule supplements expected to generate significant revenue.

The global salmon oil market is projected to reach US$ 462.8 million in 2024 and expand at a CAGR of 5.9% by 2034, with Atlantic salmon accounting for US$ 292.5 million (63.2% market share). Growth is driven by rising awareness of Omega-3 health benefits and increasing demand for marine oil-based supplements.

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