Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.95 Billion | USD 17.64 Billion | 6.7% | 2021 |
FrequentlyAsked Questions
The expansion of the fish oil market is directly linked to the growth of the aquaculture sector. Fish are farmed for a variety of commercial reasons through aquaculture. By employing fishmeal derived from food waste and algae, aquaculture has been developing and growing into a resource- and carbon-efficient sector. Organic aquaculture is becoming more popular in several places. Fishing and aquaculture are also important parts of many countries’ economies. The increased demand for fish oil and, more significantly, fish oil omega-3 has prompted the aquaculture industry to get more financial and technological support.
According to the Zion Market Research report, the global fish oil market was worth about 11.95 (USD billion) in 2021 and is predicted to grow to around 17.64 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.7 percent.
In 2021, North America had the biggest market share, accounting for 28 percent of the total market. The rise in the usage of anchovy-based fish oil in developed countries, as well as an increase in product releases by key players, are driving this segment's expansion. The Fish Oil Market is expanding due to rising demand for menhaden-based fish oils in animal nutrition.
The global fish oil market is dominated by Copeinca AS, Omega Protein Corporation, FMC Corporation, TripleNine Group A/S, Corpesca SA, FF Skagen A/S, Colpex International, Marvesa Holding N.V., Pesquera Diamante S.A., and Pesquera Exalmar.
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