Market Overview
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). Driven by rising health consciousness, demand from the aquaculture sector, and widespread applications in pharmaceuticals and supplements, fish oil continues to be a vital commodity in both human and animal nutrition.
What Is Fish Oil Good For?
Fish oil is rich in omega-3 fatty acids, primarily eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), known for their numerous health benefits. These include:
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Cardiovascular Health: Reduces triglyceride levels, supports healthy blood pressure, and reduces risk of heart disease.
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Brain Function: DHA is essential for brain development and cognitive health.
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Eye Health: Protects against age-related macular degeneration.
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Joint Health: Helps reduce inflammation, easing arthritis symptoms.
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Skin and Hair: Promotes healthier skin and reduces acne.
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Prenatal and Infant Development: Supports neural and visual development in fetuses and infants.
Fish oil is widely used in dietary supplements, functional foods, pharmaceuticals, and animal nutrition products.
How Is Fish Oil Made?
Fish oil is primarily extracted from oily fish species such as anchovies, cod, and sardines. The production process includes:
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Harvesting: Fish are sourced from oceans or aquaculture farms.
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Cooking and Pressing: The raw fish is cooked and pressed to separate oil from solids.
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Centrifugation: Oil is further separated from water and impurities.
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Purification: Molecular distillation removes contaminants such as heavy metals.
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Refining: Oil is deodorized and stabilized with antioxidants to ensure shelf life and nutrient retention.
The final product can be formulated for use in softgel capsules, liquids, or fortified foods.
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How Big Is the Fish Oil Market?
As of 2024, the global fish oil market is valued at USD 2.49 billion, with a projected increase to USD 3.9 billion by 2033, driven by growth in the supplements, pharmaceutical, and aquaculture industries. The demand for omega-3 enriched products, especially in aging populations and developing regions, is fueling consistent market expansion.
Who Is the Largest Producer of Fish Oil in the World?
Europe stands as the world’s leading producer and consumer of fish oil. Countries like Norway, Denmark, and Iceland have well-established fishing and processing industries that dominate global fish oil exports. In terms of consumption, Asia-Pacific leads the market due to its extensive use of fish oil in aquaculture.
What Is the Demand for Fish Oil?
Demand for fish oil continues to grow across several sectors:
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Nutraceuticals and Functional Foods: Rising consumer focus on preventative health is boosting fish oil supplement demand.
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Pharmaceuticals: High-concentration omega-3 prescriptions are increasingly used to treat cardiovascular and inflammatory diseases.
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Aquaculture: The largest application, using fish oil in feed for farmed fish species, especially salmon.
Regional Insights
North America
North America, especially the U.S. and Canada, is a significant producer and consumer of fish oil. Government recommendations for omega-3 intake and widespread adoption in pharmaceuticals, supplements, and functional foods are driving market growth. The market in this region is expected to increase from USD 218 million in 2021 to USD 466 million by 2030, growing at a CAGR of 9%.
Europe
Europe is the global leader in fish oil production and consumption. The market was valued at USD 395 million in 2021 and is forecasted to reach USD 677 million by 2030, growing at a CAGR of 6%. Regulatory frameworks, sustainable fisheries, and a mature supplements market support strong regional growth.
Asia-Pacific
Asia-Pacific holds the largest market share globally, with a valuation of USD 1,162 million in 2021, projected to reach USD 1,817 million by 2030, at a CAGR of 5%. Key drivers include the expanding aquaculture industry in China, Japan, and India, where fish oil is widely used in aquafeed.
Species Insights
Anchovy – Leading Segment
Anchovy-based fish oil dominates the market due to its high omega-3 concentration and abundant supply. This segment was valued at USD 827 million in 2021 and is projected to grow to USD 1,188 million by 2030, at a CAGR of 4%.
Cod
Cod liver oil, high in vitamin A, vitamin D, and long-chain omega-3s, is mainly used in supplements. It held a market value of USD 432 million in 2021 and is expected to grow to USD 870 million by 2030, with a CAGR of 8%.
Sardines
Sardines provide fish oil rich in omega-3 with low mercury levels and also contain vitamins B-12, D, and calcium. Sardine-based fish oil is valued at USD 314 million in 2021, expected to grow to USD 482 million by 2030, at a CAGR of 5%.
Application Insights
Supplements & Functional Foods – Major Share
Fish oil is widely used in dietary supplements and functional foods due to its cardiovascular, cognitive, and immune benefits. It undergoes rigorous testing for purity and nutritional profile before reaching consumers. This segment accounted for USD 872 million in 2021 and is projected to grow to USD 1,307 million by 2030, at a CAGR of 5%.
Pharmaceuticals
Pharmaceutical-grade fish oil contains highly concentrated omega-3s and is used to manage conditions such as hypertriglyceridemia and inflammatory diseases. The segment was valued at USD 462 million in 2021 and is forecasted to reach USD 767 million by 2030, growing at a CAGR of 6%.
Aquaculture – Fastest-Growing Application
Aquaculture remains the largest and fastest-growing application for fish oil. It is used extensively in fishmeal and aquafeed for species like salmon, which require high EPA and DHA content. The segment was valued at USD 245 million in 2021 and is expected to grow to USD 532 million by 2030, at a CAGR of 9%.
Conclusion
Fish oil continues to prove its value across health and nutrition sectors, from supporting cardiovascular health in humans to enhancing growth and quality in farmed fish. The global fish oil market’s projected growth from USD 2.62 billion in 2025 to USD 3.9 billion by 2033 reflects not only increasing consumer demand for omega-3 but also innovation in production, sustainability, and application diversity.