Market Size of Fish Oil Omega-3 Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.10 % |
| Fastest Growing Market | South America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fish Oil Omega-3 Market Analysis
The global fish oil omega-3 market is projected to record a CAGR of 9.1% over the next five years.
- The growing consumer demand drives the fish oil omega-3 market due to the increased awareness of the health benefits of fish products and dietary supplements. For instance, it can increase HDL (good) cholesterol levels and may also lower LDL (bad) cholesterol levels. Even in small doses, it helps reduce blood pressure in people with elevated levels. Health experts worldwide have substantially increased the recommended daily dietary intake of omega-3 fatty acids, increasing fish oil consumption.
- With this increased demand, manufacturers focus on adding fish oil to different products. Additionally, the fish oil omega-3 market's growth is being supported by the research and development efforts channeled toward improving procurement practices, enhancing the extraction process of omega-3 fatty acids, and sustainably streamlining the entire value chain of the industry.
- Moreover, by moving to fish oil alternatives, baby milk manufacturers are seizing the chance to advocate sustainability at the front of the pack. Brands are also eager to take advantage of its safety, naturalness, and purity qualities as value-added ingredients. Animals, like humans, require their recommended daily amount of long-chain polyunsaturated fatty acids to guarantee proper development. Nearly all the fatty acids supplied to aquaculture feed now come from marine sources, like fish oil and fishmeal.
- Simultaneously, manufacturers are merging and partnering with biotechnological companies to research and innovate their products, thus capturing the growing demand for such animal feed products. For instance, in July 2021, a United Kingdom-based animal nutrition company (Devenish) joined forces with a Canadian biotechnology company (Mara Renewables Corporation) to naturally enrich animal feed with a sustainable omega-3 DHA solution.
- Such innovations happening in the industry are expected to boost the market's growth during the forecast period. However, the high price of products can potentially hamper the market's growth. Here manufacturers have a great opportunity to launch affordable products, thus catering to a large group of consumers.
