Fish oil comes from the tissue of oily fish, which has omega-3 fatty acids like eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) (DHA). Omega-3 fatty acids are used a lot in aquaculture, animal nutrition, pet food, supplements, functional foods, and medicine, among other things. Omega-3 fatty acid also makes the heart and nervous system work better, and it is an important part of how the nervous system works. People and doctors are learning more about how important omega-3 fatty acids are, which has led to a big rise in the number of people who eat fish oil.
Because of this, the companies are now adding more products with concentrated EPA and DHA to their line of nutraceuticals. The growing need for EPA and DHA in food has had a big effect on the fish oil market all over the world. Aquaculture has also become more sustainable and less harmful to the environment as technology has improved. It has also grown all over the world because of things like on-land recirculating aquaculture systems, aquaponic systems, offshore systems, and information technology. So, in terms of sales value, the biggest thing driving the fish oil market is the rise of technology in the aquaculture industry.
Since the number of several marine species has dropped a lot, governments in many countries have put limits on how much wild fish can be caught. This is done to keep sea creatures safe. This also led to the rise of aquaculture, which is a good solution that involves raising fish in environments that humans can control. Also, raising fish on farms is much safer and more stable than raising them in the wild. This means that there is a steady supply of fish, which is important for buyers like big stores, restaurants, and hotels. Fish oil is a key part of aquafeed because it makes a lot of food and has a lot of protein. So, the amount of fish oil people use goes up as the aquaculture industry grows.
Along with this, Omega-3 fatty acids like EPA and DHA are good for your health and should be taken as supplements. EPA is very good for the heart and blood vessels, and DHA is a key part of how the nervous system works. People and doctors are learning more about how important omega-3 fatty acids are. This has led to a big rise in the number of people who eat fish oil. Because of this, companies are now adding concentrated EPA and DHA to their line of nutraceutical products. The growing need for EPA and DHA in human food has had a big effect on the global market around the world.
Omega-3 fatty acid, which is found in fish oil, is very important for older people because it lowers their risk of getting chronic diseases. Most importantly, older people want to take steps to avoid problems with their eyes, brain, and joints. As more people learn about how omega-3 is good for their health, more of them will buy it. Since a lot of people are expected to die in the next 65 years, the market for omega-3 fish oil will grow a lot. More than 25.9% of the people living in Japan are over 65 years old. Because of this, a lot of older Japanese people eat omega-3 fish oil to lower their risk of heart disease and stroke.
In recent years, the amount of fish oil made has dropped by a lot. This drop in production is making it hard for industries that use fish oil to meet demand. Due to this, the industries that use fish oil the most, like aquaculture, have started to invest in alternatives. If there are no whole fish, fish heads, guts, and backbones can also be used to make fish oil. These leftovers can be used to make fish meals and fish oil. Nearly 30% of fish oil and fish meal are made from fish waste and by-products right now. Because there are not enough whole fish, by-products will probably be used to make more fish oil, which will help the fish oil market grow even more.
The global fish oil market is mostly divided into three regions: North America, Europe, and Asia-Pacific. Asia-Pacific has the largest market share and is the leader in the market with respect to revenue generation.
The U.S. and Canada produce and use the most fish oil in North America. The U.S. and Canada fish oil market is driven by government requirements and recommendations for Omega 3 fatty acid intake, such as EPA and DHA. This is used in pharmaceuticals, supplements, and functional foods. This is why its market value is USD 218 million in 2021 and is expected to grow to USD 466 million by 2030, at a CAGR of 9%.
Europe is the largest producer and consumer of fish oil in the world. Because of this, Europe has a large share of the market, which was worth USD 395 million in 2021 and is expected to reach USD 677 million by 2030, at a CAGR of 6%.
Asia-Pacific has the largest share of the market. In 2021, the market was worth USD 1162 million, and it is expected to be worth USD 1817 million by 2030, at a CAGR of 5%. Aquaculture drives the area because countries like China, Japan, and India feed their fish with fish oil.