PUNE, India, July 10, 2024 /PRNewswire/ -- The report provides an in-depth analysis of the strategies of the top players in the Global Fish Oil industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise, in the Global Fish Oil Market report. It also includes figures for import/export consumption, supply and demand, price, revenue, and gross margins which makes it an investor's guide.

The data for the Global Fish Oil Market report was collected using primary and secondary research methods, which were combined to make the report authentic. The primary research conducted includes the questionnaire distribution, surveys, and phone interviews with Global Fish Oil industry experts, market leaders, marketing professionals, and entrepreneurs. The bottom-up approach has been used to estimate the global and regional Global Fish Oil Market size. SWOT analysis was used to provide the strengths and weaknesses of Fish Oil key players in the industry.

The Fish Oil Market size was valued at USD 2.37 Billion in 2023 and the total Fish Oil revenue is expected to grow at a CAGR of 5.9% from 2024 to 2030, reaching nearly USD 3.54 Billion by 2030. APAC is estimated to contribute more than 35.50% to the growth of the global market during the forecast period. Stellar's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory during the forecast period.

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Competitive Landscape

The Fish Oil Market includes the presence of several global as well as regional key players. A few prominent players that offer Fish Oil in the market are FF Skagen A/S, Croda International plc , Marvesa Holdings NV , Royal DSM NV, BASF SE, GC Reiber Vivomega Oils, LYSI HF, Koninklijke DSM N.V, Croda International PLC, Omega Protein Corporation, FMC Corporation, Colpex International, American Marine Ingredients, Corpesca Sa, Pesquera Diamante SA, Pesquera Exalmar and others.

What's New: Recent Additions and Updates

• Market estimates and forecasts (2018-2030) both value and volume in MT.
• Production Capacity Analysis of the Key Manufacturers.
• Fish oil price analysis.
• Product pricing optimization Strategy.
• Related Industry Analysis (Food and Beverage Market Analysis).
• Impact of COVID-19 on fish oil sales and shipping.
• Exclusive sales assessment of Fish Oil.
• Recommendation for key success strategies.

Key Player Offerings

Top cod oil vendors focus on continuous product introductions to reach more customers, while top mackerel oil vendors focus on offering promotional and marketing activities people realize the health benefits of fish oil in the global market. Attracting millennials can be a daunting task, as they are the most dispersed target group and respond very differently to marketing messages. But manufacturers know that millennials are the biggest and best users of social media when it comes to online marketing. For this target group in the decision-making process, one-click appeals and the ability to compare supplements online are key.

• In 2019, BASF Nutrition and health launched omega-3 solutions for chronic fatty liver disease.
• In 2020, AlaskaOmega introduced an omega-3 concentrate powder made from natural fish oil.

For details on the key players and their offerings: https://www.stellarmr.com/report/req_sample/Fish-Oil-Market/1602 

Market Overview

Fish oil, derived from various fish species, is a potent source of omega-3 fatty acids, primarily eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). These essential fatty acids are notably found in fishes like mackerel, herring, tuna, and salmon. The body doesn't naturally produce sufficient omega-3 fatty acids, making fish oil a valuable supplement.

Rising health consciousness propels the demand for fish oil, abundant in omega-3 fatty acids renowned for various health benefits. Its positive impact on heart health, cognitive function, inflammation reduction, and mental well-being drives significant Fish Oil Market growth. This surge in awareness, especially about its role in preventing chronic diseases, fuels demand across multiple sectors such as supplements, fortified foods, and pharmaceuticals. Consumers increasingly seek its advantages, spurring a diverse range of product applications to cater to evolving health needs.

Despite major setbacks in Peru, the global supply of fishmeal and fish oil is now stable with higher volumes in the North Atlantic and increased production in Chile. Flooding and the destruction of aquaculture have reduced demand for Chinese fishmeal, which will account for half of global imports by 2021. In 2022, the Peruvian anchoveta fishery, a critical source for global fishmeal and fish oil, faced continuous disruptions from adverse weather and high juvenile catches. The main North Central fishing region closed at the end of July, filling only 84% of the 2.8 million tonne quota. Additionally, oil yields were merely 2% of catches, compared to the usual 3%. The southern region's performance was even weaker, achieving just 13% of its 486,000-tonne quota. As a result, global fish supply fell by 6.7% and fish oil by 12.7%. Despite these challenges, the extensive arrest of secondary producers has partially prevented the damage. Icelandic reduction fisheries, for instance, saw an 84% increase in catches to 380,000 tonnes in the first half of the year, driven primarily by a sevenfold rise in the capelin quota to 870,000 tonnes.

China, which is a major player in the fishmeal market, imported 873,000 tonnes in the first half of 2022, 77,000 tonnes less than the same period in 2021 but up from 565,000 tonnes imported in the first half of 2020 significantly. This decline in demand is due to adverse weather conditions and high fishmeal stocks.

Peru generally produces about half of the world's fish meal and one-third of the fish oil supply. The crisis in the Anchoweta fishery had a major impact on the global market. However, increased abundance in the North Atlantic mitigated some of these effects. The proposed tax on salmon farms in Norway is likely to significantly reduce production, affecting demand for fish oil in one of the key markets.

For an in-depth analysis and in-depth view, Stellar Market Research Report provides important information for investors who are going through the growing global fish oil market from 2024 to 2030. This report covers these trends and more, providing valuable guidance in making informed investment decisions.

Segment Overview

Stellar has segmented the market based on by Product Type (Salmon Oil, Tuna Oil, Anchovy Oil, Cod Liver Oil, Others (Herring Oil, Mackerel Oil, Sardine Oil, etc.) by Application (Pharmaceuticals, Supplements & Functional Food, Dietary Supplements, Animal Nutrition (Aquaculture, Pet Food), Functional Food & Beverages, Others (Cosmetics, Agriculture, etc.), by Extraction Method (Mechanical Pressing, Enzymatic Hydrolysis, Supercritical Fluid Extraction (SFE), Chemical Extraction. by Distribution Channel (Online Retail, Offline Retail, and Region (APAC, Europe, North America, Middle East and Africa, and South America).

Based on Product Type, salmon oil currently dominates the fish oil market due to its high omega-3 content and perceived health benefits. Its popularity comes from its rich source of EPA and DHA, which are important for heart health and reducing inflammation. Tuna oil follows close behind due to the same omega-3 properties. Anchovy oil is gaining traction due to its consistency and omega-3 content. Although cod liver oil is historically important, the high levels of key nutrients in salmon and tuna oils help to dominate the market.

Based on application, the Aquaculture segment held the largest market share of xx% by 2023 and is expected to grow at the highest CAGR of 6.9% in the global market during the forecast period. Increase in aquaculture production in emerging economies such as India and China are driving market growth. Also, major market drivers are increasing health consciousness and increasing incidence of chronic cardiovascular diseases. The increasing use of fish oil in cosmetics is another driving force in the market. Growing aquaculture activities are expected to drive the market growth globally.

The report will offer a precise estimation of the contribution by various segments in the growth of the Fish Oil market size.

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Geography Overview

North America, holds the second largest market share at 28% by 2023 and the global fish oil industry is expected to grow at the highest CAGR of 8.62% during the forecast period. Due to the need to increase physical activity in the region and the increasing use of nutrients for health care there is a need for omega-3 rich food for psychological development is estimated to fuel regional market growth.

North America has become the dominant fish oil market, but its growth has slowed compared to the booming expansion in Asia-Pacific. Several reasons contribute to this. The market here is well-established, with a long history of using fish oil supplements. This means there's less potential for significant growth compared to regions where fish oil is newly introduced.

For detailed information about market trends, product specifications, industry trends, and future outlook, please refer to the complete report by Stellar Market Research.

Global Fish Oil Market 2023-2027: Key Highlights

• Historic Market Size 2017-2023
• CAGR of the market during 2024-2030.
• Detailed information on factors that will assist Fish Oil market growth during the next seven years.
• An estimation of the Fish Oil market size and the impact of country's GDP on Fish Oil market.
• Forecasts on upcoming trends and changes in consumer behaviour.
• The growth of the Fish Oil market.
• Analysis of the competitive landscape and detailed information on companies.
• Comprehensive details of factors that will impede the growth of Fish Oil companies.

Stellar Market Research is leading Energy and Power Research Firm, has also published the following reports:

US Fish Oil Market size was valued at USD 720 Mn. in 2023 and the total US Fish Oil revenue is expected to grow at a CAGR of 9.5% from 2024 to 2030, reaching nearly USD 1359 Mn.

Cod Liver Oil Market size was valued at USD 94.12 Bn. in 2023 and the total Global Cod Liver Oil revenue is expected to grow at a CAGR of 6.4% from 2024 to 2030, reaching nearly USD 145.30 Bn. by 2030.

Food Botanicals Market size was valued at USD 171.72 Billion in 2023 and is expected to reach USD 265.11 Billion by 2030 at a CAGR of 6.4% over the forecast period.

Hemps Seed Oil Market size was valued at USD 92.45 Mn. in 2023 and the total Global Hemps seed oil revenue is expected to grow at a CAGR of 11.55% from 2024 to 2030, reaching nearly USD 198.67 Mn. by 2030.

Functional Food Ingredients Market is expected to grow at a CAGR of 7% during the forecast period. Functional Food Ingredients Market is expected to reach US$ 193.81 Bn. in 2030 from US$ 120.69 Bn in 2023.

About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.

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