Fish Oil Market: Trends, Growth Drivers, and Future Outlook

The global fish oil market size was valued at USD 2.49 billion in 2024 and is projected to reach from USD 2.62 billion in 2025 to USD 3.9 billion by 2033, growing at a CAGR of 5.12% during the forecast period (2025-2033).

Overview of the Fish Oil Market

Fish oil is extracted primarily from oily fish species such as anchovies, cod, and sardines. Its omega-3 fatty acids, EPA and DHA, are essential nutrients that support heart health, cognitive function, and the nervous system. Growing global health awareness, combined with a surge in demand for functional foods and dietary supplements, has propelled the fish oil market. In 2021, the global market size was valued at approximately USD 2.13 billion and is expected to reach around USD 3.6 billion by 2030, growing at a compound annual growth rate (CAGR) of about 6%.

Technological advances have improved sustainable aquaculture practices, including on-land recirculating aquaculture systems and aquaponics, which contribute to stable fish supply and reduced environmental impact. These developments underpin the fish oil market’s expansion, particularly in the Asia Pacific, which leads global consumption and production.

Regional Market Insights

Asia Pacific dominates the fish oil market, holding the largest share due to strong demand in the aquaculture and supplement sectors in countries like China, Japan, and India. The region’s market was valued at USD 1.16 billion in 2021 and is projected to grow to USD 1.82 billion by 2030 at a CAGR of 5%. North America is the fastest-growing market, driven by U.S. and Canadian demand for omega-3 supplements, fueled in part by governmental recommendations supporting cardiovascular health. North America’s fish oil market reached around USD 218 million in 2021 and is expected to nearly double by 2030 with a CAGR of 9%. Europe maintains a significant position as both a major producer and consumer, with rising emphasis on nutraceutical and pharmaceutical applications.

Species Segmentation and Market Dominance

Among fish species, anchovy accounts for the dominant share in the fish oil market due to its high omega-3 content and wide availability. Anchovy-derived fish oil had a market value of USD 827 million in 2021 and is forecasted to increase at a CAGR of 4% through 2030. Cod fish oil, derived mainly from cod liver, is a valuable source of vitamins A and D alongside omega-3 fatty acids, with a 2021 market value of USD 432 million expected to grow at 8% annually. Sardine fish oil, known for its omega-3 richness and low mercury levels, is also notable with a market value of USD 314 million in 2021 and a growth CAGR of 5%.

Challenges and Market Restraints

Despite strong demand growth, the fish oil market faces several challenges. Environmental factors such as the El Niño weather phenomenon disrupt fish availability by altering ocean temperatures and fish migration patterns, affecting production in key fishing regions such as Chile and Norway. Additionally, governmental regulations impose strict fishing quotas and total allowable catches (TACs) to conserve marine biodiversity, limiting raw material supply. These constraints contribute to supply shortages and fluctuations in fish oil prices, which may dampen market growth.

Quality concerns also arise from possible contamination with harmful substances like mercury and polychlorinated biphenyls (PCBs), emphasizing the need for rigorous product testing and quality assurance. Furthermore, the increasing trend toward veganism and plant-based diets creates competition from alternatives like algal oil, which may affect long-term demand for fish-derived omega-3.

Innovations and Market Opportunities

To address supply challenges, the industry is innovating by utilizing fish processing by-products such as heads, guts, and backbones for oil extraction, which currently accounts for about 30% of global fish oil production. This approach helps mitigate raw material shortages and supports sustainable resource use.

Technological improvements in extraction and refinement also enhance the purity and stability of fish oil products, enabling broader application in high-value pharmaceuticals and nutraceuticals. Rising awareness of health benefits among aging populations, especially in markets like Japan where over a quarter of the population is aged above 65, fuels demand for preventive health supplements containing omega-3 fish oil.

Looking Ahead

The fish oil market is poised for steady growth driven by expanding applications, increasing consumer health consciousness, and sustainable aquaculture development. Product innovation, regulatory compliance, and addressing environmental challenges will be key to supporting long-term market expansion. The Asia Pacific region will continue to dominate, with North America emerging as the fastest-growing market. Anchovy-based fish oil will likely retain its lead in species segmentation, while aquaculture feed and supplements will drive demand growth.

With increasing focus on natural health products and wellness, fish oil remains a critical source of essential omega-3 fatty acids, meeting the evolving needs of consumers and industry stakeholders worldwide. The market’s trajectory points toward robust opportunities fueled by advances in technology, sustainability efforts, and global health trends.