The global fish oil market size is expected to value at USD 4.08 billion by 2022. The market is subject to witness a substantial growth due to the growing aquaculture activities across the globe. Increasing health consciousness among general population and growing awareness associated with health advantages of omega 3 fatty acid are considered as one of the prominent factors fostering the growth of fish oil industry over the forecast period.

Additionally, increasing need for hydrogenated vegetable oils and margarine coupled with varying food patterns among young population are expected to boost market demand for the market in the upcoming years. Globally, the fish oil market is predicted to grow at CAGR of 8.72% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.

Furthermore, increasing demand form protective coatings and lubricants market is anticipated to drive market growth over the forecast period. Numerous health benefits associated with consumption of fish oil due to presence of omega-3 fatty acids is expected to drive market expansion in the upcoming years.

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Additionally, presence of icosapentaenoic acid and docosahexaenoic acid i.e. (DHA & EPA) that aids in limiting high blood pressure, cholesterol level, and reduces risk of coronary heart diseases such as strokes, thereby driving the growth of fish oil industry, in the recent years. Growing occurrence of heart related disorders based on changing food patterns and unhealthy diet among general population are anticipated boost demand of fish oil over the forecast period as well. Growing demand for fish oil for production of various cosmetic products and skin care products such as emollients and ointments is predicted to propel market growth in the near future.

Rise of the aquaculture sector coupled with technological advancement in farming sector, particularly in the developing economies such as China and India are expected to drive market expansion in the upcoming years. Additionally, factors such as favorable atmospheric conditions and abundant availability of farming land in the Asia Pacific region are driving market growth further. Growing demand for omega-3 supplements from functional food industry due to its numerous health benefits is estimated to fuel market demand for fish oil during the forecast period.

However, high cost of the fish oil and lack of availability in the market prices, thereby creating a huge demand &supply gap are anticipated to limit market growth over the coming years to a certain extent. Although, rising research & development activities along with technological advancement in aquaculture farming is projected to stimulate market growth during next seven years.

Aquaculture is considered as one of the fastest growing segment in the fish oil market with substantial revenue generation in the last couple of years. Growing popularity of the aquaculture market segment is attributed to the increasing of breeding and regular stocking to improve overall output production. Salmon & trout market, which is sub-segment of aquaculture, has also witnessed significant growth owing to the robust farming base of salmon fish in European countries such as Norway and Chile.

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The fish oil industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest techniques, increasing awareness of nutritional benefits of fish oil, and existence of well-established agriculture infrastructure. Asia-Pacific region is predicted to hold major market share in the fish oil market with massive growth in forecast period.

Countries such as China, India, Indonesia, Thailand, and Bangladesh are leading the Asia-Pacific market with rising health consciousness among general population, shifting trends awareness towards nutritional diet, growing aquaculture sector, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the fish oil industry are Croda Incorporations, COPEINCA ASA, EPAX AS, Omega Protein Co., GC Rieber Oils AS, Colpex International S.A.C., American Marine Ingredients LLC, Enzymotec Ltd., and Corpesca S.A.

Market Segment:

Global Fish Oil Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Aquaculture
• Aquaculture, by product
• Salmon & trout
• Marine fish
• Crustaceans
• Tilapias
• Others
• Direct Human Consumption
• Others

Global Fish Oil Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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31 January 2019, Fish oil is derived from the tissues of fishes which can reduce inflammation. It is a major source of omega-3 acids, docosahexaenoic acid, and eicosapentaenoic acid. Omega-3 acids aid in reducing triglyceride levels, depression levels, and reducing the risk of coronary heart disease.

The global Fish Oil Market will be valued close to USD 4 billion by 2020. The demand for fish oil in 2013 was 1,090 kilotons (KT). It has an objective of reaching 1,200 KT by 2020. The US FDA (Food and Drugs Administration) has limited the fishing of sharks, a rich source of omega-3 acids. This is due to the high level of mercury, dioxin, and other PCBs present in their body. This can be a major hurdle for fish oil market players. But development of aquaculture in Asia Pacific can help overcome this obstacle.

Applications for fish oil are DCH (direct human consumption), aquaculture, hydrogenation and other industrial uses. Direct human consumption (DHC) will be the major driver responsible for the fish oil market’s growth. Anchovies, mackerel, capelin, and herring are the fishes used for DCH. It has an estimated CAGR of 1.6% during the forecast phase (2014-2020).

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Aquaculture is expected to dominate over the forecast phase. It is expected to reach a volume of 843.6 tons by 2020, growing at a 1% CAGR over the next six years. Species bred in aquaculture are tilapias, salmon, eels, trout, catfish, fresh crustaceans, marine shrimps, and marine fishes. Salmon and trout are the most popular fish used in aquaculture. It generated revenue of USD 854.7 million in 2013. It is projected to attain revenue of USD 1.49 billion by 2020.

North America, Europe, Asia Pacific, and Latin America are the major markets for fish oil. Europe had the largest market in 2013, accounting for 491.5 KT. It has an 8% CAGR over the forecast phase due to high protein levels found in dietary supplements. Asia Pacific will be the fastest growing region owing to the huge demand of fish oil from China.

The key players in the fish oil market are Colplex, GC Rieber Oils, COPEINCA ASA, and Omega Protein Corporation. Players will mostly form partnerships or delve in aquaculture due to shortage of raw materials.

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