Fish Oil Market By Source (Anchovy, Cod Liver, Salmon, Others); By Application (Aquaculture, Nutraceuticals, Pharmaceuticals, Functional Foods, Animal Nutrition); By Grade (Feed Grade, Food Grade, Pharmaceutical Grade); By End User (Aquaculture Companies, Nutraceutical Manufacturers, Pharma Firms, Pet Food Brands, Food & Beverage Companies); By Geography, Segment Revenue Estimation, Forecast, 2024–2030

Introduction And Strategic Context

The Global Fish Oil Market will witness a moderate but steady CAGR of 5.4% , valued at around USD 2.3 billion in 2024 , and projected to reach nearly USD 3.2 billion by 2030 , confirms Strategic Market Research.

 

Fish oil—primarily derived from oily fish like anchovy, mackerel, sardines, and salmon—is rich in omega-3 fatty acids (EPA and DHA), which continue to be validated for their cardiovascular, neurological, and anti-inflammatory benefits. Over the forecast period, fish oil will continue to shift from traditional supplement markets into clinical nutrition, aquaculture feed, functional food, and even pet health.

 

What’s pushing this forward? There’s rising global awareness of chronic lifestyle diseases like obesity, hypertension, and age-related cognitive decline. With statin fatigue and concerns over synthetic drugs mounting in some regions, many consumers are turning to fish oil as a more “natural” way to manage heart health and inflammation. At the same time, clinical trials are backing up fish oil’s role in reducing triglycerides, fueling prescription-grade demand in parallel with over-the-counter supplements.

 

A second major demand node is aquaculture . As wild fish stocks struggle to meet global seafood needs, farmed fish like salmon now rely heavily on feed formulations enriched with fish oil for growth and omega-3 content. This segment alone accounts for over half the global volume consumed—making feed producers critical stakeholders.

 

Other contributing macro forces include regulatory alignment (such as EU-approved health claims), growing pet nutraceutical trends, and ongoing R&D in concentrated EPA/DHA formats for pharmaceutical-grade use. At the same time, sustainability concerns—like overfishing and marine ecosystem disruption—are forcing the industry to explore new sourcing models, such as algae-based omega-3s and fish byproduct utilization.

 

Key stakeholders across the fish oil market include:

• Nutraceutical brands creating capsules, gummies, and fortified foods.

• Aquaculture feed manufacturers relying on stable EPA/DHA supply.

• Pharmaceutical companies marketing high-purity omega-3 for hyperlipidemia and related conditions.

• Pet food makers formulating cognitive and joint-health products.

• Sustainability certifiers and NGOs focused on marine conservation.

• Investors betting on algae-based alternatives and bioconversion tech.

To be honest, fish oil isn’t new—and it isn’t flashy. But its strategic role in human health, sustainable aquaculture, and evolving pharma applications means it's far from stagnant. The next five years will define how well traditional producers adapt to supply volatility, sustainability scrutiny, and the rising bar of scientific validation.

 

Market Segmentation And Forecast Scope

The fish oil market divides along several axes, each reflecting the complexity of how this ingredient is used across industries. For clarity, we’ll break it down by Source , Application , Grade , End User , and Geography .

By Source

Fish oil is primarily extracted from small oily fish, but the choice of source affects both composition and marketability. Common inputs include:

• Anchovy, Sardine & Mackerel : These species dominate commercial fish oil production due to high oil content and efficient processing.

• Cod Liver : Often used in premium health supplements for its added vitamin A and D profile.

• Salmon : Known for a better omega-3 to omega-6 ratio, salmon oil is gaining ground in premium pet and human nutrition segments.

• Others : Tuna and herring oils contribute smaller volumes, often as byproducts.

In 2024 , anchovy, sardine, and mackerel account for roughly 65% of all raw material volume, mainly due to their efficiency in yield and catch stability.

 

By Application

Demand patterns vary widely depending on how the oil is used. The key segments are:

• Aquaculture : The largest application by volume, accounting for nearly 58% of the global fish oil market in 2024. Salmon farming, in particular, consumes significant quantities.

• Nutraceuticals : Second-largest by value. Human health supplements in soft gel, capsule, or liquid formats are popular across North America and Europe.

• Animal Nutrition : Includes pet food and livestock feed, especially for improving fertility and coat quality in pets.

• Pharmaceuticals : Smaller but fast-growing, driven by high-purity omega-3 formulations prescribed for triglyceride management.

• Functional Foods : An emerging category involving fortified dairy, beverages, and cereals.

The pharmaceutical segment is expected to post the highest CAGR over the forecast period, as more countries approve prescription omega-3s and cardiovascular concerns grow in aging populations.

 

By Grade

• Feed Grade : Used in aquafeed and pet food; dominates by volume.

• Food Grade : Purified to meet human consumption standards; widely used in nutraceuticals and functional foods.

• Pharmaceutical Grade : Ultra-refined for clinical use; includes ethyl esters and re-esterified triglycerides.

Pharmaceutical grade is still a niche but is growing fast due to strong clinical validation and reimbursement dynamics in some developed markets.

 

By End User

• Aquaculture Companies

• Nutraceutical Manufacturers

• Pharma Firms

• Pet Food Producers

• Functional Food & Beverage Companies

Among these, aquaculture companies are the volume leaders, while nutraceutical firms command higher margins.

 

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Europe currently leads in value, owing to a robust supplement culture and pharma-grade adoption. Asia Pacific , however, is the fastest-growing, especially in China and India, where omega-3 awareness is rising and aquaculture is scaling fast.

Scope Insight: While volume is tied closely to feed-grade demand, the market’s real upside lies in the pharma and nutraceutical segments. These are price-elastic, brand-sensitive, and regulated — all of which incentivize innovation and quality differentiation.

 

Market Trends And Innovation Landscape

Fish oil might seem like a commodity ingredient, but under the surface, the market is shifting—both in how oil is sourced and how it’s formulated for end users. From biotechnology to encapsulation tech, innovation is reshaping how fish oil is produced, consumed, and regulated.

1. Algae-Based Omega-3s Entering the Mainstream

A major pivot is happening around algal omega-3 oils . These are vegan, highly sustainable, and free from marine contaminants like mercury or PCBs. While traditionally more expensive to produce, recent advances in fermentation tech and yield optimization are pushing costs down. Companies are scaling up heterotrophic microalgae production to compete head-to-head with fish oil—particularly in supplements and infant formulas.

An executive from a leading nutraceutical firm commented: “Algal DHA is no longer just a premium add-on — it’s rapidly becoming our go-to option for plant-based formulations.”

This trend won’t displace fish oil overnight, but it is changing the way manufacturers hedge against raw fish supply disruptions and environmental pressure.

 

2. High-Concentration Omega-3s Driving Pharma Uptake

In the pharmaceutical realm, innovation is focused on EPA/DHA re-esterification and ethyl ester purification . These advanced processes increase bioavailability and reduce the “fishy aftertaste” that often limits consumer compliance.

New entrants are developing prescription-only omega-3s that meet stringent purity standards. These are targeting triglyceride management, with emerging research suggesting possible benefits in mental health, ADHD, and inflammatory diseases.

Expect higher-dose EPA-only products (similar to those approved in North America and Japan) to expand into new regulatory territories through 2030.

 

3. Encapsulation and Emulsification Technology

Oxidation has always been fish oil’s Achilles’ heel. To counter this, R&D is booming around microencapsulation and nanoemulsion systems . These technologies protect the oil from degradation, extend shelf life, and make it easier to include in food and beverage applications without off-flavors.

Functional beverages, dairy products, and even baby food are being fortified using these stabilized forms—particularly in markets like Scandinavia and Japan, where omega-3 enrichment is seen as a public health priority.

 

4. Sustainability and Traceability Tools

Supply chain scrutiny is increasing. Retailers and regulators want transparency on fishing practices, bycatch levels, and ocean sustainability. In response, manufacturers are investing in blockchain -based traceability systems and third-party sustainability certifications (e.g., MSC, Friend of the Sea).

This is shifting procurement behavior. Buyers—especially in Europe and North America—are favoring suppliers that can offer full traceability back to vessel and species.

One European pet food brand noted: “Our customers ask where the fish came from — we need a QR code that answers that in seconds.”

 

5. Cross-Industry Partnerships and Licensing

In the past two years, there’s been a quiet uptick in partnerships between fish oil producers and biotech firms to explore synthetic biology routes to EPA/DHA. Licensing deals are also popping up between algae-based startups and nutraceutical incumbents seeking plant-based SKUs without building new R&D from scratch.

This convergence between marine ingredients and biotech is still early—but it’s opening new avenues for differentiation beyond just sourcing and refining.

Bottom line? The fish oil market is no longer just about catching and processing oily fish. It’s evolving into a hybrid space that blends traditional marine harvesting with biotech, food science, and clean-label marketing. Innovation is focused less on discovery—and more on refining purity, sustainability, and usability in complex health ecosystems.

 

Competitive Intelligence And Benchmarking

The fish oil market is highly consolidated at the top, but regional fragmentation creates pockets of opportunity for niche players and specialty formulators. The key players don’t just compete on volume — they battle over quality certifications, EPA/DHA concentration, sourcing transparency, and application-specific refinement.

Here’s how the market leaders position themselves:

BASF SE

One of the largest players in the high-concentration omega-3 segment, BASF operates at the pharmaceutical and nutraceutical interface. Their Omega-3 platform includes prescription-grade EPA/DHA and branded formulations for brain, eye, and heart health. They’ve made strategic acquisitions in recent years to strengthen algae-based assets and secure sustainable marine oil supply. BASF’s differentiation? Deep IP in concentration and stabilization technology.

 

KD Pharma Group

This vertically integrated producer focuses on ultra-pure omega-3 concentrates . KD Pharma’s strength lies in its molecular distillation expertise and flexible capacity, allowing for both pharma-grade and high-end nutraceutical formats. The firm partners with both branded supplement firms and prescription drug developers. Their recent investments in algal fermentation hint at long-term sustainability bets.

 

Golden Omega

Based in Chile, Golden Omega supplies high-purity fish oil concentrates with a strong footprint in North and South America. Known for strict quality control and transparency, they lean heavily on Friend of the Sea certifications and state-of-the-art purification systems. Their proximity to raw material sources (anchovy off the Peruvian coast) gives them a logistic and freshness edge.

 

DSM Nutritional Products (now dsm-firmenich )

DSM blends human nutrition science and biotech . Their focus is on plant-based omega-3 (via their algal oil line, life’sOMEGA ) and fortification solutions for food and beverage. DSM’s strength is in formulation partnerships — they don’t just sell oil; they co-develop end-use products. With their acquisition of Ocean Nutrition, they’ve cemented a dual presence in marine and vegan omega-3s.

 

Croda International Plc

Through its Incromega and OmegaPure lines, Croda focuses on premium fish oil for infant nutrition, clinical nutrition, and functional food. Their USP is customization — tailored EPA/DHA ratios, softgel formats, and emulsions. Croda emphasizes traceability, with a growing role in sustainability-first retail products.

 

Clover Corporation

An Australia-based specialist in microencapsulated fish oil , Clover has carved out a space in the infant formula and functional dairy markets. Their microencapsulation process keeps fish oil stable and flavor-neutral in challenging food matrices. Clover is a classic example of value-added innovation over volume play.

 

GC Rieber VivoMega

A Norwegian supplier known for pharmaceutical and nutraceutical-grade omega-3 concentrates . VivoMega products are often selected for clinical research trials due to purity standards. GC Rieber has tight control over sourcing, purification, and shipping — making it a go-to for white-label supplement producers.

 

Competitive Dynamics

• BASF and DSM dominate the high-value segment, especially pharma and functional food.

• Golden Omega and KD Pharma anchor the ultra-pure marine oil segment.

• Croda and Clover lead on formulation support and food-grade innovation.

• Algal producers like Corbion ( AlgaPrime ) and Qualitas Health are fast-emerging competitors, especially in plant-based nutrition.

To be honest, this market is no longer a race for who catches the most fish. It’s about who can deliver consistent EPA/DHA purity, certify sustainability, and integrate downstream into finished product innovation. Players who combine scientific rigor with flexible application support are carving out the most durable advantage.

 

Regional Landscape And Adoption Outlook

Fish oil may be global in demand, but its adoption and production are far from uniform. Regional dynamics are shaped by factors like marine resource access, dietary habits, supplement regulation, and aquaculture intensity. Let’s break it down:

North America

The U.S. and Canada remain major consumers of fish oil for nutraceutical and pharmaceutical purposes , particularly omega-3 supplements. The FDA’s qualified health claim for omega-3 and heart health , along with an aging population concerned about cardiovascular wellness, keeps demand robust.

What’s changing? The market is shifting from generic capsules to higher-concentration, prescription-grade EPA products . There’s also more consumer interest in vegan DHA options, particularly on the West Coast.

Aquaculture consumption is relatively lower compared to Europe and Asia, but growing interest in domestic seafood farming is creating new demand nodes in regions like Maine and British Columbia.

 

Europe

Europe is arguably the most advanced market in terms of regulation, sustainability certification, and fish oil product diversification . Countries like Norway and Iceland are central to global supply, exporting pharmaceutical- and feed-grade oil from species like anchovy and herring.

Consumers in Scandinavia and Germany routinely purchase omega-3 supplements, with functional dairy and bakery products enriched with fish oil growing in retail availability. Moreover, the European Medicines Agency (EMA) has approved several prescription omega-3 products, reinforcing the pharmaceutical channel.

Sustainability matters here. Retailers and regulators increasingly demand MSC or Friend of the Sea-certified oils , and traceability has become a selling point.

 

Asia Pacific

This is the fastest-growing region , both in production and consumption. China, India, and Southeast Asian nations are rapidly scaling aquaculture operations , making feed-grade fish oil a dominant segment. Salmon, tilapia, and shrimp farms are the largest consumers.

On the human health side, omega-3 awareness is rising, especially in urban China, Japan, and South Korea. Japan’s aging population is particularly drawn to omega-3 for cardiovascular and cognitive health, while Indian supplement companies are expanding their EPA/DHA portfolios for domestic and export use.

Still, much of the region relies on imported, processed oil — raising concerns about quality consistency and contamination. Local purification facilities are emerging, but regulatory harmonization is still a work in progress.

 

Latin America

Peru is a key raw material hub , with one of the world’s largest anchovy fisheries feeding global supply chains. However, much of the production is exported rather than used domestically.

Consumption within Latin America is relatively low but growing. Chile and Brazil are notable exceptions—Chile because of its aquaculture industry, and Brazil due to rising health supplement adoption among middle-class consumers.

Environmental activism and catch-limit regulation are tightening around overfished zones, putting pressure on exporters to prove ecological stewardship.

 

Middle East & Africa

Still an emerging region in both supply and demand. Some Middle Eastern countries have begun exploring fish oil fortification in staple food programs , while Africa has pilot projects underway for aquaculture to reduce protein malnutrition.

The challenge here is affordability and infrastructure. Most fish oil is imported in bulk, and there’s minimal local processing. However, opportunities are forming in coastal economies like Morocco and South Africa where fish processing industries are evolving.

 

Key Takeaways by Region

• North America : Strong pharma and supplement demand; niche aquaculture.

• Europe : Leading in quality, traceability, and product diversity.

• Asia Pacific : Highest growth in feed-grade and supplement innovation.

• Latin America : Major exporter; growing local consumption.

• MEA : Underserved but slowly emerging in aquaculture and food fortification.

To be honest, geography dictates more than market size here—it defines quality expectations, regulatory oversight, and innovation speed. Companies that tailor formats and certifications to regional preferences will scale faster and more efficiently.

 

 

End-User Dynamics And Use Case

Fish oil has a broad user base, but the way it’s used — and the demands each user group places on quality, format, and sourcing — are highly specialized. Understanding these differences is key to unlocking margin and identifying product innovation gaps.

1. Nutraceutical Companies

These are the most visible buyers in the public eye — they purchase refined fish oil in bulk to manufacture softgels , capsules, and emulsions. They typically demand:

• High EPA/DHA content

• Minimal odor and taste

• Third-party sustainability certification

• Flexible formats for different age groups

Most U.S. and European supplement brands also require “clean label” claims , including non-GMO, allergen-free, and solvent-free processing.

One VP at a global supplement brand commented: “We’re not just buying oil — we’re buying a story we can put on the front of the bottle.”

 

2. Aquaculture Feed Manufacturers

By volume, this is the largest end-user category . Farmed fish — especially salmon and trout — require DHA/EPA for proper growth and immune function. But feed-grade buyers are price-sensitive and volume-driven. They focus on:

• Consistency in fatty acid profile

• High oxidative stability

• Low environmental contaminant levels

As fishmeal and fish oil prices fluctuate, many feed companies experiment with partial replacement using algae or vegetable oils, but full substitution is rare due to nutritional limitations.

 

3. Pharmaceutical Firms

These users are extremely quality-focused. They source ultra-purified, high-concentration EPA/DHA oils for incorporation into prescription drugs used in managing:

• Hypertriglyceridemia

• Cardiovascular disease

• Some cognitive and inflammatory disorders

This segment requires strict compliance with GMP and pharmacopeia standards (USP, EP, JP ). Product purity, traceability, and batch consistency are non-negotiable.

Unlike other buyers, pharma players often co-develop or co-license with omega-3 producers to maintain control over IP and bioavailability data.

 

4. Functional Food and Beverage Companies

This is a fast-emerging group , especially in Europe and Asia. These users need highly stable, microencapsulated fish oil that can be mixed into:

• Dairy (milk, yogurt, cheese)

• Baked goods

• Beverages

• Infant nutrition formulas

They prioritize organoleptic neutrality — no smell, no fishy taste — and often seek emulsified or powdered forms that don’t separate or degrade during shelf life.

 

5. Pet Food Brands

Pet nutraceuticals are quietly booming. Premium dog and cat foods now incorporate fish oil for:

• Joint health

• Skin and coat improvement

• Cognitive function in senior pets

These buyers sit somewhere between aquaculture and nutraceutical users. They need mid-grade refinement, clean sourcing, and consistent EPA/DHA ratios — but often avoid the cost of pharma-grade oil.

 

Use Case Highlight

A European infant formula manufacturer wanted to launch a new omega-3 fortified milk powder but struggled with fish oil’s odor and oxidation issues. Partnering with a specialty processor, they adopted microencapsulated DHA oil derived from anchovy, coated with dairy-compatible materials. The final product passed stringent EU shelf-life and flavor stability tests, enabling a rollout in over 14 countries. The innovation helped the company enter the premium nutrition market and triple their DHA-fortified SKU sales within 18 months.

Bottom Line : Every end user values something different. Pharma firms need pristine purity and paperwork. Supplement brands want a story and sensory appeal. Feed producers just want stable volume at the right price. And functional food players demand invisibility — if consumers can taste the fish, they’ve lost. Tailoring formats to end-user priorities is where the real margin lies.

 

Recent Developments + Opportunities and Restraints

Recent Developments (Last 2 Years)

BASF and Cargill Partner on Algae-Based Omega-3 for Feed

In 2023, BASF and Cargill expanded their algae-based omega-3 JV, Veramaris , to meet rising aquafeed demand. This marked a shift toward non-fish-derived EPA/DHA in commercial salmon farming.
 

DSM Launches Vegan Omega-3 Gummy Line Extension

DSM announced a line of plant-based omega-3 gummies under the “ life’sOMEGA ” brand targeting flexitarian consumers in Europe and North America.
 

KD Pharma Expands High-Concentration EPA Facility

KD Pharma commissioned a new facility in Norway in 2024 to scale ultra-pure, high-concentration EPA products for prescription applications, signaling growing demand in the pharma segment.
 

Golden Omega Achieves Carbon Neutral Certification

The Chilean producer became one of the first fish oil manufacturers to receive carbon neutrality certification , reinforcing sustainability as a competitive differentiator.
 

Croda Expands Infant Nutrition Portfolio with New Emulsified DHA

In late 2023, Croda launched a water-dispersible omega-3 format designed for baby food and formula manufacturers, enabling easier mixing with dairy and cereal bases.

 

Opportunities

1. Growth in Prescription Omega-3s for Heart Disease
More countries are moving toward prescription omega-3s as part of cardiovascular risk management, particularly high-purity EPA formulations . This creates high-margin pharma growth potential.

2. Plant-Based Omega-3s Expanding into Mass Retail
Algal DHA and EPA oils are moving beyond niche vegan channels into mainstream supplements and functional foods , driven by consumer demand for clean, sustainable options.

3. Traceability Tech for Competitive Advantage
Digital tools like blockchain traceability and smart labeling (e.g., QR-based fishing data) offer a value-added layer, especially in European and North American markets that prioritize transparency.

 

 Restraints

1. Supply Chain Pressure from Overfishing and Climate Volatility
Key species like anchovy face population stress due to El Niño and overfishing. This volatility threatens long-term raw material access and price stability.

2. High Processing and Purification CostsMeeting pharma and food-grade purity standards requires energy-intensive molecular distillation and tight quality controls, raising capex and limiting affordability for smaller players.

To be honest, the fish oil market has more tailwinds than headwinds right now — but it’s not autopilot. The winners will be the companies that innovate not just in products, but in sourcing, storytelling, and science-backed claims.
 

7.1. Report Coverage Table

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 2.3 Billion
Revenue Forecast in 2030	USD 3.2 Billion
Overall Growth Rate	CAGR of 5.4% (2024 – 2030)
Base Year for Estimation	2024
Historical Data	2019 – 2023
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Source, By Application, By Grade, By End User, By Geography
By Source	Anchovy, Cod Liver, Salmon, Others
By Application	Aquaculture, Nutraceuticals, Pharmaceuticals, Functional Foods, Animal Nutrition
By Grade	Feed Grade, Food Grade, Pharmaceutical Grade
By End User	Aquaculture Companies, Nutraceutical Manufacturers, Pharma Firms, Pet Food Brands, Food & Beverage Companies
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country Scope	U.S., UK, Germany, China, India, Japan, Brazil, etc.
Market Drivers	- Rise in chronic disease prevention demand - Expansion of aquaculture - Growing preference for sustainable omega-3 sourcing
Customization Option	Available upon request