Verified Insights
Precision-driven research you can trust. We uphold rigorous data validation processes to ensure every report is reliable and based on credible sources.
+91 9425150513 (Asia) support@24lifesciences.com
+91 9425150513 (Asia) support@24lifesciences.com
Download Sample Pdf
MARKET INSIGHTS
The global fish oil market was valued at USD 2.826 billion in 2024. The market is projected to grow from USD 2.95 billion in 2025 to USD 3.83 billion by 2031, exhibiting a CAGR of 4.5% during the forecast period.
Fish oil is a lipid extracted from the tissues of oily fish such as anchovies, sardines, mackerel, and salmon. It is a primary, natural source of long-chain omega-3 fatty acids, specifically eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which are critical nutrients for human and animal health. The crude fish oil analyzed in this market is obtained at the initial stage of the fishmeal production process, where pressed fish material yields oil that is stored to preserve its nutritional quality and freshness.
The market growth is steady, driven by the strong and persistent demand from the aquafeed industry, which accounts for over 50% of total consumption. Furthermore, rising health consciousness among consumers is boosting demand for fish oil in dietary supplements and fortified food and beverages. However, sustainability concerns and fluctuating raw material supplies present ongoing challenges. The competitive landscape is fragmented, with the top five manufacturers, including leaders like TASA, holding a combined market share of just over 15%, indicating a space with numerous players.
Rising Demand for Omega-3 Supplements
Global awareness of the health benefits associated with omega-3 fatty acids, particularly EPA and DHA, continues to be a primary driver for the fish oil market. Consumers are increasingly using fish oil supplements for cardiovascular health, cognitive function, and infant development. This demand is further amplified by an aging population and growing health consciousness among younger generations.
Expansion in Aquaculture Feed
The aquaculture industry is one of the largest consumers of fish oil, utilizing it as a key ingredient in fish feed to support the growth and health of farmed species like salmon and trout. As global fish consumption shifts from wild-caught to farmed sources, the demand for high-quality aquaculture feed is projected to increase significantly.
➤ The global dietary supplements market, which heavily relies on fish oil, is projected to grow at a compound annual growth rate of approximately 8% over the next five years.
Government and health organization recommendations for weekly fish consumption also contribute to market growth, promoting fish oil intake through both direct supplements and fortified food products.
MARKET CHALLENGES
Supply Chain Volatility and Sustainability Concerns
The fish oil market is heavily dependent on the anchovy and other small pelagic fish catch, which is subject to natural fluctuations, fishing quotas, and seasonal variations. This creates significant price and supply volatility. Furthermore, overfishing and environmental regulations are pressuring the sustainability of raw material sources.
Other Challenges
Competition from Alternative Omega-3 Sources
The emergence and growing consumer acceptance of plant-based and algal omega-3 oils present a competitive challenge to traditional fish oil, particularly in vegan and vegetarian markets.
Regulatory Hurdles and Quality Control
Strict regulations concerning contaminants like heavy metals and PCBs, along with the need for certifications (e.g., GOED, IFOS), increase production costs and complexity for manufacturers.
Price Sensitivity and Raw Material Costs
Fish oil is a commodity with prices that are susceptible to the volatile costs of raw fish, fuel, and processing. High prices can deter cost-sensitive consumers and limit market penetration in developing regions. Additionally, the cost of complying with stringent quality and sustainability standards adds financial pressure on producers.
Consumer Concerns About Taste and Aftertaste
Despite encapsulation technologies, the characteristic fishy smell and aftertaste of some fish oil products remain a significant barrier for consumer acceptance, particularly for new users. This sensory issue can limit repeat purchases and market growth in certain segments.
Innovation in Product Formulations and Delivery Systems
There is a significant opportunity for companies to develop value-added fish oil products, such as flavored oils, gummies, and emulsions that mask the taste and odor. Advanced delivery systems that improve bioavailability and consumer convenience are also driving product differentiation and premiumization.
Growth in Emerging Economies
Rising disposable incomes, growing middle-class populations, and increasing health awareness in Asia-Pacific and Latin American countries present substantial growth potential. Market penetration in these regions is still relatively low, offering room for expansion through targeted marketing and affordable product offerings.
Expansion into Pet Nutrition and Pharmaceuticals
The application of fish oil is expanding beyond human nutrition into the high-growth pet food industry, where it is valued for promoting skin, coat, and joint health in companion animals. Furthermore, ongoing research into the therapeutic uses of omega-3s for neurological and inflammatory conditions opens new avenues in the pharmaceutical sector.
Segment Analysis:| Segment Category | Sub-Segments | Key Insights |
| By Type |
|
Feed Grade Fish Oil dominates the market due to its extensive application in aqua-feed formulations, which is the largest-consuming sector. This grade is crucial for the aquaculture industry's growth, as it provides essential omega-3 fatty acids necessary for fish health and development. The food and pharma grades, while smaller in volume, command significant value due to stringent quality requirements for human consumption and pharmaceutical applications, respectively. The demand for high-purity pharma grade oil is driven by its use in therapeutic supplements and medications. |
| By Application |
|
Aqua-feed is the leading application segment, underpinned by the massive global aquaculture industry's reliance on fish oil as a key nutritional component. The use of fish oil in dietary supplements is a major growth area, fueled by increasing consumer awareness of the health benefits associated with omega-3 intake for cardiovascular and cognitive health. Food and beverage manufacturers are incorporating fish oil into functional foods, while the cosmetic industry values it for its skin-nourishing properties. The versatility of fish oil across these diverse applications ensures steady demand. |
| By End User |
|
Aquaculture Industry represents the largest end-user segment, consuming the bulk of fish oil production for feed. The human nutrition industry, including supplement and functional food producers, is a highly influential end-user driving demand for higher-grade oils. Pharmaceutical companies constitute a specialized and high-value end-user segment, utilizing highly refined fish oil for medicinal purposes. Industrial users may employ fish oil in niche applications like pet food or chemical manufacturing. Each end-user segment has distinct purity and sustainability requirements that influence supply chains. |
| By Source Species |
|
Anchovy is the predominant source species for fish oil production, particularly in the large-scale reduction industry in South America. The oil yield and fatty acid profile of anchovy make it highly efficient for feed-grade production. Sardines and mackerel are also significant sources, valued for their oil content. The sustainability of fish stocks and seasonal availability of these pelagic species are critical factors impacting supply stability and pricing. Wild-caught fish remain the primary source, with by-product utilization from fish processing gaining importance. |
| By Distribution Channel |
|
Business-to-Business (B2B) is the leading distribution channel, characterized by large-volume sales directly from producers to industrial consumers like aqua-feed manufacturers and supplement companies. This channel relies on long-term contracts and bulk shipping. Retail distribution, including pharmacies and health food stores, is essential for reaching end-consumers with dietary supplements and fortified foods. The online/e-commerce channel is experiencing rapid growth, offering consumers direct access to a wide variety of fish oil products and enabling brands to provide detailed product information and build trust through transparency. |
A Consolidated Market Led by Anchovy-Based Producers in Peru and Chile
The global fish oil market is characterized by a relatively fragmented competitive environment, though a handful of leading companies exert significant influence. The global top five manufacturers collectively hold a share exceeding 15%, indicating a market where no single entity dominates but a few key players set the tone. Peruvian company TASA (Tecnologica de Alimentos S.A.) is the market leader with an approximate 5% share of the global market. The competitive structure is heavily influenced by the sourcing of raw materials, with a significant portion of the world's fish oil supply derived from anchovy fisheries off the coasts of Peru and Chile. This regional concentration of supply creates a core group of leading players, primarily integrated fishing and fishmeal producers from these countries. Market activity is driven by the high demand for fish oil in aqua-feed, which accounts for over half of global consumption, linking the competitive dynamics closely to the aquaculture industry's growth.
Beyond the top integrated players, the market includes several other significant companies that operate in specific geographic niches or specialize in different grades of fish oil. European companies like TripleNine Group A/S and FF Skagen A/S are prominent players, leveraging their proximity to North Atlantic fishing grounds. Other key participants include Austevoll Seafood ASA, Oceana Group, and Corpesca S.A., which have strong regional presences. There is also a segment of companies focused on producing and refining higher-value, human-consumption grade fish oil for dietary supplements and pharmaceuticals, such as Omega Protein Corporation. These players compete on factors including sustainable sourcing certifications, product purity, and specific fatty acid profiles to cater to discerning end-markets.
List of Key Fish Oil Companies ProfiledTASA (Tecnologica de Alimentos S.A.)
FF Skagen A/S
Pesquera Hayduk
Copeinca
Pesquera Diamante S.A.
Pesquera Exalmar
Pesquera Centinela S.A.C.
Fiordo Austral Group
Orizon S.A.
Corpesca S.A.
Omega Protein Corporation
The global Fish Oil market was valued at US$ 2826 million in 2024 and is projected to reach US$ 3830 million by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period. This sustained growth is primarily driven by the expanding awareness of the essential health benefits associated with omega-3 fatty acids. Fish oil is a virtually unique source of natural long-chain omega-3s, including EPA and DHA, which are critical for cardiovascular and nervous system health. The increasing incorporation of these nutrients into dietary supplements, functional foods, and pharmaceuticals is a major trend underpinning the market's positive trajectory.
Other TrendsDominance of Aqua-feed and Feed Grade Oil
A key structural trend is the overwhelming dominance of the aqua-feed application segment, which accounts for over 50% of the market. This is directly linked to the industrial-scale production process, where feed grade fish oil, representing over 70% of production by type, is a crucial component in aquaculture diets. The oil is obtained at the beginning of the fishmeal production process, where fish like anchovies are pressed to separate solids. The resulting crude oil, valued for its nutritional content, is essential for the growing global aquaculture industry, which relies on it to support fish health and development.
Consolidated Competitive Landscape and Regional DynamicsThe competitive landscape is moderately concentrated, with the top five manufacturers holding a combined market share exceeding 15%. TASA is the current market leader with approximately 5% share, alongside other key players like Copeinca, Pesquera Hayduk, FF Skagen A/S, and TripleNine Group A/S. Geographically, North America is the largest market with a share of over 30%, closely followed by the Asia-Pacific region. Europe holds a significant share of about 24%. This regional distribution reflects varying levels of health consciousness, disposable income, and the maturity of the aquaculture and dietary supplement industries across these major economic zones.
Regional Analysis: Fish Oil MarketEurope
Europe represents a mature and highly regulated market for fish oil, characterized by strong consumer demand for high-quality omega-3 supplements and stringent quality standards. The region is a major importer of crude fish oil, which is then refined into pharmaceutical and nutritional-grade products. Scandinavian countries, with their strong fishing heritage, are key producers and consumers. The market is heavily influenced by EU regulations concerning health claims, sustainability, and food safety, which shape product development and marketing. Demand is driven by an aging population concerned with cardiovascular and cognitive health, as well as the use of fish oil in animal feed, particularly for the region's significant salmon farming industry in Norway and Scotland.
North America
The North American fish oil market is a significant consumer-driven sector, with the United States being the largest market for dietary supplements in the world. High consumer awareness of heart health benefits fuels demand for omega-3 capsules and liquid supplements. The market is characterized by a strong preference for high-purity, third-party tested products. Canada, with its substantial Atlantic and Pacific fisheries, is also an important producer and exporter. The pet food industry represents a major and growing application segment, utilizing fish oil for its nutritional benefits in premium pet diets. Market dynamics are influenced by trends in preventative healthcare and a growing interest in sustainable and traceable sourcing.
South America
South America's role in the global fish oil market is predominantly as a leading supplier, with Peru and Chile being the world's largest producers of fishmeal and fish oil, primarily derived from the massive anchoveta fishery. While domestic consumption for human nutrition is growing, particularly in urban centers of Brazil and Argentina, the region's market dynamics are heavily export-oriented. The industry is critically focused on sustainability certifications and managing quotas to ensure the long-term health of fish stocks, which directly impacts global supply and pricing. Regional demand is gradually increasing with growing awareness of health benefits.
Middle East & Africa
The Middle East & Africa region is an emerging market with significant growth potential, albeit from a smaller base. The market is primarily driven by the increasing adoption of dietary supplements in Gulf Cooperation Council (GCC) countries, where rising disposable incomes and growing health concerns are creating demand. South Africa is the most developed market in Sub-Saharan Africa. The region also shows potential in the aquaculture sector, which is being developed to enhance food security, creating a future source of demand for fish oil in animal feed. Market growth is tempered by lower overall awareness and economic constraints in many African nations.
This market research report offers a holistic overview of global and regional markets for the forecast period 2025–2032. It presents accurate and actionable insights based on a blend of primary and secondary research.
✅ Market Overview
Global and regional market size (historical & forecast)
Growth trends and value/volume projections
✅ Segmentation Analysis
By product type or category
By application or usage area
By end-user industry
By distribution channel (if applicable)
✅ Regional Insights
North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country-level data for key markets
✅ Competitive Landscape
Company profiles and market share analysis
Key strategies: M&极, partnerships, expansions
Product portfolio and pricing strategies
✅ Technology & Innovation
Emerging technologies and R&D trends
Automation, digitalization, sustainability initiatives
Impact of AI, IoT, or other disruptors (where applicable)
✅ Market Dynamics
Key drivers supporting market growth
Restraints and potential risk factors
Supply chain trends and challenges
✅ Opportunities & Recommendations
High-growth segments
Investment hotspots
Strategic suggestions for stakeholders
✅ Stakeholder Insights
This report is designed to support strategic decision-making for a wide range of stakeholders, including:
Pharmaceutical and biotech companies
Medical device and diagnostics manufacturers
Healthcare providers and hospital systems极strong>
Contract research and manufacturing organizations
Investors, consultants, and policy makers
-> Global fish oil market was valued at USD 2.826 billion in 2024 and is projected to reach USD 3.83 billion by 2031, exhibiting a CAGR of 4.5% during the forecast period.
-> Key players include TASA, Copeinca, Pesquera Hayduk, FF Skagen A/S, and TripleNine Group A/S, among others.
-> Key growth drivers include demand from aquafeed industry, rising health consciousness, and nutritional benefits of omega-3 fatty acids.
-> North America is the largest market with over 30% share, while Asia-Pacific follows closely with about 30% market share.
-> Emerging trends include sustainable sourcing practices, technological advancements in extraction, and growing applications in dietary supplements.
Our Clients
“The data provided by 24LifeScience was clear, well-organized, and useful for internal strategy planning. It helped us understand the competitive landscape more effectively.”
“We used one of their market overview reports for early-stage feasibility work. It gave us a helpful snapshot of current trends and key players in our therapeutic area.”
“I appreciated the team’s responsiveness and willingness to adjust the scope based on our feedback. The final report was aligned with our expectations and timelines.”
“Their custom report on clinical trial trends was a helpful reference as we explored new indications."
“As someone working on early product planning, I found their therapeutic area briefs quite useful. The information was presented in a way that made it easy to extract key takeaways.”
“We didn’t need anything overly complex—just solid, dependable data. 24LifeScience delivered exactly that, without unnecessary fluff.”
“Their reports gave us a good foundation to start our own market assessment. While we supplemented it with other data, this was a great starting point.”
“I’ve used a few of their reports for academic and grant writing purposes. They’re generally well-cited and reliable for understanding market scope.”
At 24LifeScience, we combine domain expertise with dependable research delivery. What truly differentiates us isn't just what we do — it's how we do it. Our clients trust us because we offer consistency, security, value, and most importantly, insight that drives action.
Precision-driven research you can trust. We uphold rigorous data validation processes to ensure every report is reliable and based on credible sources.
We uphold rigorous data validation processes to ensure every report is reliable, up-to-date, and based on credible sources.
24LifeScience powers research for top firms in 20+ nations.Chosen by leading life sciences companies worldwide.
We offer competitive pricing models that align with your project scope — no hidden charges, no lock-in. Tailored pricing for every scale and need.
8–10+ years of life sciences expertise turned into strategic insights.We don’t just summarize data we contextualize it.
Whether it's a ready-made report or a custom project, we deliver within the promised timeline With real-time updates