Market Size of Tuna and Algae Omega-3 Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 14.03 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tuna and Algae Omega-3 Ingredient Market Analysis
The tuna and algae omega-3 ingredient market is projected to grow at a CAGR of 14.03% in the next five years.
The perceived health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, drives the demand for tuna omega-3 ingredients. The tuna fish oil omega-3 market has witnessed emerging global raw material hotspots in China, Japan, Spain, and Italy. There has been a surge in the aquaculture sector around the world, and this boost is expected to provide further impetus to the overall growth of the fish oil omega-3 industry. According to the Marine Stewardship Council, the quantity of MSC-certified catch and the number of MSC-certified tuna fisheries continued to increase in 2021 and 2022. Nineteen tuna fisheries received MSC accreditation at the beginning of September 2022, bringing the total to 91.
This resulted in a 24% rise in the amount of MSC-certified tuna catch, from 1,982,000 tonnes in September 2021 to 2,460,000 in September 2022. Nearly 50% of the commercial tuna catch worldwide has MSC certification, boosting the market further. Algae omega-3 ingredients play a key role in driving the overall market growth due to the growing demand for algae omega-3 in infant food fortification, as it provides benefits similar to fish oil and has no off-odor or taste. Additionally, the surge in demand for fortified foods among various age groups across the globe is driving the tuna and omega-3 ingredients market.
