Fish Oil Omega-3 Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Fish Oil Omega-3 Market is Segmented by Species (Anchovy, Cod Liver, Menhaden, Tuna, Sardine, Salmon, and Other Species), Application (Dietary Supplements, Infant Nutrition, Animal Nutrition, and Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts in value (USD million) for all the above segments.

Market Snapshot

Fish Oil Omega-3 Market Summary
Study Period: 2016-2027
Base Year: 2021
Fastest Growing Market: South America
Largest Market: Asia-Pacific
CAGR: 9.1 %
Fish Oil Omega-3 Market Major Players

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Market Overview

The global fish oil omega-3 market is projected to record a CAGR of 9.1% during the forecast period 2022-2027.

The fish oil omega-3 market faced the adversities of the COVID-19 pandemic like all other industries. But the market did not face a decline because people were consuming a number of supplements to increase their immunity, and fish oil omega-3 is known to have immunity-boosting factors. It was considered beneficial in the prevention of COVID-19 and beneficial for the overall health of the individual.

The fish oil omega-3 market is being driven by the research and development efforts that are channelized toward improving procurement practices, enhancing the extraction process of omega-3 fatty acids, and sustainably streamlining the entire value chain of the industry. Health experts across the world have substantially increased the recommended daily dietary intake of omega-3 fatty acids, as a result of which, fish oil consumption has increased.

The rise in perceived health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, is also driving the market. Moreover, supplements prepared from fish oil omega-3 are witnessing high demand from consumers since these help them deal with general lifestyle-related diseases. The incorporation of new techniques and innovations in new varieties of products using fish oil omega-3 is boosting the market demand.

Scope of the Report

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 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. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Species
Anchovy
Cod Liver
Menhaden
Tuna
Sardine
Salmon
Other Species
By Application
Dietary Supplements
Infant Nutrition
Animal Nutrition
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
France
Germany
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Key Market Trends

Growth in the Aquaculture Sector

The growth in the aquaculture sector is strongly related to the development of the fish oil omega-3 market. Through aquaculture, fishes are cultivated for various commercial purposes. Aquaculture is now evolving and transforming into a carbon-efficient and resource-efficient sector by using the fishmeals made from algae and food waste. The trend of organic aquaculture is also rising in different countries. For instance, according to the Research Institute of Organic Agriculture and the International Federation of Organic Agriculture Movements, the volume of organic aquaculture production in Ireland was 30430 ton in 2020, which was the highest in Europe. Also, fishing and aquaculture form a major part of the economy of many countries. The growing demand for fish oil and, most importantly, fish oil omega-3 has encouraged the overall technical and financial support that is being extended to the aquaculture industry. The continuous developments in the aquaculture sector are driving the growth of the fish oil omega-3 market, as the high demand for the latter is supported by the high production capacity of the former.

Fish Oil Omega-3 Market: Fish Production from Aquaculture (in Million Metric Tons),Global, 2017-2021

Asia-Pacific Dominates the Global Market

Asia-Pacific dominates the global market for fish oil omega-3 due to its high fishery rate through aquaculture and manual fishing. The increasing aging population, coupled with rising health trends and awareness among general consumers, has increased the consumption of dietary supplements in the region, significantly boosting the fish oil omega-3 market. China is one of the world’s largest producers of fishmeal and oil. However, it primarily focuses on producing high-quality pharma-grade fish oil to increase its applications in the pharmaceutical sector. According to the UN Food and Agricultural Organization, China is one of the largest exporters of fish and fishery products, with exports amounting to around USD 20.8 billion in 2020. Also, in Japan, the consumption of nutritional and pharmaceutical-grade fish oil has significantly increased due to rising health concerns among the country's geriatric population. Alongside, South Korea and Southeast Asian countries hold significant shares in the Rest of Asia-Pacific fish oil market.

Fish Oil Omega-3 Market: Market Size (%), By Region, Global, 2021

Competitive Landscape

The global fish oil omega-3 market is fragmented and highly competitive. Croda International PLC, Omega Protein Corporation, BASF SE, and Pelagia AS constitute a few of the key players in the market. Companies operating in the fish oil omega-3 market engage in diversified business models, with the most common one being a company with its own fishery vessel for the procurement of fish, followed by integration into fish and fish products. For instance, Olevea Group is a family-owned company that experiences vertical integration with sustainable sources and fully refined fish oils, thus, providing unique solutions for its clients and final consumers. Moreover, the companies have integrated themselves into research and development activities to create new products suiting customer demand.

Major Players

  1. Koninklijke DSM N.V.

  2. Omega Protein Corporation

  3. BASF SE

  4. Pelagia AS

  5. Croda International PLC

Fish Oil Omega-3 Market Concentration

Recent Developments

In 2020, GC Rieber, a global omega-3 concentrate provider, finished the construction of 24,000 ton of tank park, catering to the increasing ingredient capacity and meeting regular demands.

In 2020, Evonik expanded the omega-3 products range under its brand, AvailOm. These high load omega-3 powders are used for dietary supplements, sourced from fish and other marine life.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Species

      1. 5.1.1 Anchovy

      2. 5.1.2 Cod Liver

      3. 5.1.3 Menhaden

      4. 5.1.4 Tuna

      5. 5.1.5 Sardine

      6. 5.1.6 Salmon

      7. 5.1.7 Other Species

    2. 5.2 By Application

      1. 5.2.1 Dietary Supplements

      2. 5.2.2 Infant Nutrition

      3. 5.2.3 Animal Nutrition

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Germany

        5. 5.3.2.5 Russia

        6. 5.3.2.6 Italy

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Strategies Adopted By Major Players

    3. 6.3 Most Active Companies

    4. 6.4 Company Profiles

      1. 6.4.1 Koninklijke DSM NV

      2. 6.4.2 Croda International PLC

      3. 6.4.3 Omega Protein Corporation

      4. 6.4.4 BASF SE

      5. 6.4.5 GC Rieber Oils

      6. 6.4.6 TripleNine Group AS

      7. 6.4.7 Pelagia AS

      8. 6.4.8 Olvea Group

      9. 6.4.9 Lysi HF

      10. 6.4.10 Kobyalar Group

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability
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Frequently Asked Questions

The Fish Oil Omega-3 Market market is studied from 2016 - 2027.

The Fish Oil Omega-3 Market is growing at a CAGR of 9.1% over the next 5 years.

South America is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

Koninklijke DSM N.V., Omega Protein Corporation, BASF SE, Pelagia AS, Croda International PLC are the major companies operating in Fish Oil Omega-3 Market.

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