By registering a CAGR of 5% from 2023 to 2033, the global fish oil alternatives market opportunities seem promising. As per the global fish oil alternatives market analysis report, its net worth could be USD 2.5 billion in 2023. FMI further predicts the market valuation to reach around USD 4.1 billion by the end of this forecast period.
Supplements & functional foods, medicines, and other concentrated food make extensive use of omega-3 fatty acids generally obtained from fish. However, the growing trend of adopting veganism has created a huge need for alternative edible oils that can substitute them. Also, the unavailability of a sufficient amount of fish for the production of fish oil is another reason.
The demand for fish oil alternatives is projected to grow with its active adoption by restaurants and hotels. The encouraging use of plant-based oils has pushed commercial food preparation businesses to adjust towards shifting dietary trends.
Customers who are concerned about their health would favor plant-based diets and oils that are high in fiber. It is also anticipated that fish oil alternatives with a higher concentration of vitamins and minerals could be their preferred choice. Throughout the projected period, the demand for fish oil alternatives is also anticipated to be driven by the increasing use of omega-3 in pharmaceutical ingredients.
| Attributes | Details |
|---|---|
| Fish Oil Alternatives Market Share (2022) | USD 2.4 billion |
| Fish Oil Alternatives Market Size Value (2023) | USD 2.5 billion |
| Fish Oil Alternatives Market Size Value (2033) | USD 4.1 billion |
| Fish Oil Alternatives Market Growth Rate (2023 to 2033) | 5% |
As per the fish oil alternatives market survey report, historically this product was limited only in developed economies. During the previous survey period from 2018 to 2022, substitutes for fish oil experienced a moderate growth rate. However, the outbreak of the Covid-19 pandemic had a drastic effect on the overall performance of the product.
The desire for nutrient-dense food items continuously grew during the pandemic period indirectly increasing the sales of fish oil alternatives. Also, an understanding of how plant-based diets might lower the spread of corona infection in patients expanded on those days.
These circumstances have compelled fish oil alternative producers to create products to appeal to health-conscious customers in the post-pandemic period. So, FMI pegs a higher year-on-year growth rate on sales of fish oil alternatives over the next ten years.
Global demand for vegan substitutes for fish oil may increase as the consumption of healthy food and drinks rises. Consumer desire for plant-based diets has increased along with the prevalence of illnesses linked to the urban lifestyle. According to CDC research, there were over 0.3 million fatalities in the United States in 2020 as a result of coronary heart disease.
The addition of processed fats in human diets has grown into a major problem for the food production business. It may, in turn, encourage the packaged food and drink producers to accept alternatives to fish oils for monounsaturated fats.
Elderly individuals need the omega-3 fatty acids found in fish oil to lower their chance of developing chronic diseases. So older customers are eager to adopt plant-based sources of it to avoid the ill effects of animal-based products
The use of fish oil alternatives in cosmetic and personal care products is probably going to increase favoring market growth. Also, raising consumer knowledge of the product's availability and excellent nutritional value can improve the outlook for the sector.
The rising expense of various plant seeds and their processing might prevent more people from using fish oil alternatives. So, notwithstanding a positive growth trajectory globally, the market is projected to remain limited, particularly in third-world countries.
Fluctuating weather patterns due to global warming can negatively impact seed output, driving up the cost of vegetable oils. However, federal support to encourage oil seed production in agriculture-based economies can be a game changer in the future.
According to the product type, the sales of fish oil alternatives made from soybean seeds dominate the market shares. As per the market estimates, this segment is anticipated to continue for more than 20% of the overall revenue generated globally. Moreover, the higher production of soybean in comparison to other segments is poised to retain its dominance through 2033.
Fish oil substitutes made from the chia seed oil category are expected to grow at a 6% CAGR through 2033. Such promising growth of this is attributable to the rising demand for fish oil alternatives in personal care products. In addition, chia seed oil has a number of advantages due to its higher concentration of fatty acids and antioxidants.
The application of fish oil alternatives in the food and beverage segment is expected to cross USD 2 billion by 2033. In light of the increasing consumption of nutritious foods, FMI predicts it to be the leading segment during the forecast years. Also, encouraging the use of plant-based oils has pushed commercial food preparation businesses to adjust to shifting dietary trends.
The Business to consumer (B2C) sales channel segment is expected to increase at a 5% CAGR during the forecast period. It can be attributed mostly because of increasing consumer demand for plant-based oils for use in regular domestic cooking.
The USFDA is raising consciousness about the advantages of including omega-3 fatty acids in daily diet. Further, to decrease the incidence of heart disease among the strictly vegan population it is encouraging plant-based substitutes.
Interestingly, a thriving tourism industry is expected to increase the consumption of vegetable oil in the United States. So vegetable oils such as a substitute for fish oil are anticipated to gain more popularity in the coming days.
Regionally, the sales of fish oil alternatives in European countries are anticipated to surpass USD 1.5 billion by 2033. This surge in demand can be attributed to ongoing development in the region's aquaculture, poultry, and cattle industries.
Germany is the leading country for the production and consumption of fish oil alternatives in the European region. According to AgriFarming reports, the increased farming of fowl has increased the use of fish oil substitutes in Germany.
In recent years many countries in the Asia Pacific region have witnessed a sufficient increment in the consumption of plant-based alternatives. Though the fish oil alternatives business is in a developing stage the demand is
Japan presents a very lucrative opportunity for the global fish oil alternatives market players in the Asia Pacific region. Omega 3 fish oil is widely used in Japan to lower the risk of coronary heart disorders in older populations.
Market expansion is anticipated in recent years due to the growing relevance of omega-3 DHA for the growth of babies. Moreover, the adoption of legislation that promotes the use of omega-3 in infant formulas has also encouraged its growth.
In light of the increasing use of omega-3 in a variety of applications, the market has turned fragmented in recent years. Fish oil alternatives manufacturers are investing highly in product innovation in order to keep up with evolving customer demand. Besides, innovation, most of the global players are resorting to a partnership with regional players to expand market coverage.
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Volume (Litre) Forecast by Region, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Product, 2018 to 2033
Table 4: Global Market Volume (Litre) Forecast by Product, 2018 to 2033
Table 5: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 6: Global Market Volume (Litre) Forecast by Application, 2018 to 2033
Table 7: Global Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 8: Global Market Volume (Litre) Forecast by Distribution Channel, 2018 to 2033
Table 9: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 10: North America Market Volume (Litre) Forecast by Country, 2018 to 2033
Table 11: North America Market Value (US$ Million) Forecast by Product, 2018 to 2033
Table 12: North America Market Volume (Litre) Forecast by Product, 2018 to 2033
Table 13: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 14: North America Market Volume (Litre) Forecast by Application, 2018 to 2033
Table 15: North America Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 16: North America Market Volume (Litre) Forecast by Distribution Channel, 2018 to 2033
Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 18: Latin America Market Volume (Litre) Forecast by Country, 2018 to 2033
Table 19: Latin America Market Value (US$ Million) Forecast by Product, 2018 to 2033
Table 20: Latin America Market Volume (Litre) Forecast by Product, 2018 to 2033
Table 21: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 22: Latin America Market Volume (Litre) Forecast by Application, 2018 to 2033
Table 23: Latin America Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 24: Latin America Market Volume (Litre) Forecast by Distribution Channel, 2018 to 2033
Table 25: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Europe Market Volume (Litre) Forecast by Country, 2018 to 2033
Table 27: Europe Market Value (US$ Million) Forecast by Product, 2018 to 2033
Table 28: Europe Market Volume (Litre) Forecast by Product, 2018 to 2033
Table 29: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 30: Europe Market Volume (Litre) Forecast by Application, 2018 to 2033
Table 31: Europe Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 32: Europe Market Volume (Litre) Forecast by Distribution Channel, 2018 to 2033
Table 33: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 34: Asia Pacific Market Volume (Litre) Forecast by Country, 2018 to 2033
Table 35: Asia Pacific Market Value (US$ Million) Forecast by Product, 2018 to 2033
Table 36: Asia Pacific Market Volume (Litre) Forecast by Product, 2018 to 2033
Table 37: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 38: Asia Pacific Market Volume (Litre) Forecast by Application, 2018 to 2033
Table 39: Asia Pacific Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 40: Asia Pacific Market Volume (Litre) Forecast by Distribution Channel, 2018 to 2033
Table 41: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 42: MEA Market Volume (Litre) Forecast by Country, 2018 to 2033
Table 43: MEA Market Value (US$ Million) Forecast by Product, 2018 to 2033
Table 44: MEA Market Volume (Litre) Forecast by Product, 2018 to 2033
Table 45: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 46: MEA Market Volume (Litre) Forecast by Application, 2018 to 2033
Table 47: MEA Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 48: MEA Market Volume (Litre) Forecast by Distribution Channel, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Product, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Application, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 6: Global Market Volume (Litre) Analysis by Region, 2018 to 2033
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 9: Global Market Value (US$ Million) Analysis by Product, 2018 to 2033
Figure 10: Global Market Volume (Litre) Analysis by Product, 2018 to 2033
Figure 11: Global Market Value Share (%) and BPS Analysis by Product, 2023 to 2033
Figure 12: Global Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033
Figure 13: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 14: Global Market Volume (Litre) Analysis by Application, 2018 to 2033
Figure 15: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 16: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 17: Global Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 18: Global Market Volume (Litre) Analysis by Distribution Channel, 2018 to 2033
Figure 19: Global Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 20: Global Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 21: Global Market Attractiveness by Product, 2023 to 2033
Figure 22: Global Market Attractiveness by Application, 2023 to 2033
Figure 23: Global Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 24: Global Market Attractiveness by Region, 2023 to 2033
Figure 25: North America Market Value (US$ Million) by Product, 2023 to 2033
Figure 26: North America Market Value (US$ Million) by Application, 2023 to 2033
Figure 27: North America Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 28: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 29: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 30: North America Market Volume (Litre) Analysis by Country, 2018 to 2033
Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 33: North America Market Value (US$ Million) Analysis by Product, 2018 to 2033
Figure 34: North America Market Volume (Litre) Analysis by Product, 2018 to 2033
Figure 35: North America Market Value Share (%) and BPS Analysis by Product, 2023 to 2033
Figure 36: North America Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033
Figure 37: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 38: North America Market Volume (Litre) Analysis by Application, 2018 to 2033
Figure 39: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 40: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 41: North America Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 42: North America Market Volume (Litre) Analysis by Distribution Channel, 2018 to 2033
Figure 43: North America Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 44: North America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 45: North America Market Attractiveness by Product, 2023 to 2033
Figure 46: North America Market Attractiveness by Application, 2023 to 2033
Figure 47: North America Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 48: North America Market Attractiveness by Country, 2023 to 2033
Figure 49: Latin America Market Value (US$ Million) by Product, 2023 to 2033
Figure 50: Latin America Market Value (US$ Million) by Application, 2023 to 2033
Figure 51: Latin America Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 52: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 54: Latin America Market Volume (Litre) Analysis by Country, 2018 to 2033
Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 57: Latin America Market Value (US$ Million) Analysis by Product, 2018 to 2033
Figure 58: Latin America Market Volume (Litre) Analysis by Product, 2018 to 2033
Figure 59: Latin America Market Value Share (%) and BPS Analysis by Product, 2023 to 2033
Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033
Figure 61: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 62: Latin America Market Volume (Litre) Analysis by Application, 2018 to 2033
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 65: Latin America Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 66: Latin America Market Volume (Litre) Analysis by Distribution Channel, 2018 to 2033
Figure 67: Latin America Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 69: Latin America Market Attractiveness by Product, 2023 to 2033
Figure 70: Latin America Market Attractiveness by Application, 2023 to 2033
Figure 71: Latin America Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 72: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 73: Europe Market Value (US$ Million) by Product, 2023 to 2033
Figure 74: Europe Market Value (US$ Million) by Application, 2023 to 2033
Figure 75: Europe Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 76: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 77: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 78: Europe Market Volume (Litre) Analysis by Country, 2018 to 2033
Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 81: Europe Market Value (US$ Million) Analysis by Product, 2018 to 2033
Figure 82: Europe Market Volume (Litre) Analysis by Product, 2018 to 2033
Figure 83: Europe Market Value Share (%) and BPS Analysis by Product, 2023 to 2033
Figure 84: Europe Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033
Figure 85: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 86: Europe Market Volume (Litre) Analysis by Application, 2018 to 2033
Figure 87: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 88: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 89: Europe Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 90: Europe Market Volume (Litre) Analysis by Distribution Channel, 2018 to 2033
Figure 91: Europe Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 92: Europe Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 93: Europe Market Attractiveness by Product, 2023 to 2033
Figure 94: Europe Market Attractiveness by Application, 2023 to 2033
Figure 95: Europe Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 96: Europe Market Attractiveness by Country, 2023 to 2033
Figure 97: Asia Pacific Market Value (US$ Million) by Product, 2023 to 2033
Figure 98: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033
Figure 99: Asia Pacific Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 100: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 101: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 102: Asia Pacific Market Volume (Litre) Analysis by Country, 2018 to 2033
Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 105: Asia Pacific Market Value (US$ Million) Analysis by Product, 2018 to 2033
Figure 106: Asia Pacific Market Volume (Litre) Analysis by Product, 2018 to 2033
Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Product, 2023 to 2033
Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033
Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 110: Asia Pacific Market Volume (Litre) Analysis by Application, 2018 to 2033
Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 113: Asia Pacific Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 114: Asia Pacific Market Volume (Litre) Analysis by Distribution Channel, 2018 to 2033
Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 117: Asia Pacific Market Attractiveness by Product, 2023 to 2033
Figure 118: Asia Pacific Market Attractiveness by Application, 2023 to 2033
Figure 119: Asia Pacific Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 120: Asia Pacific Market Attractiveness by Country, 2023 to 2033
Figure 121: MEA Market Value (US$ Million) by Product, 2023 to 2033
Figure 122: MEA Market Value (US$ Million) by Application, 2023 to 2033
Figure 123: MEA Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 124: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 125: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 126: MEA Market Volume (Litre) Analysis by Country, 2018 to 2033
Figure 127: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 128: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 129: MEA Market Value (US$ Million) Analysis by Product, 2018 to 2033
Figure 130: MEA Market Volume (Litre) Analysis by Product, 2018 to 2033
Figure 131: MEA Market Value Share (%) and BPS Analysis by Product, 2023 to 2033
Figure 132: MEA Market Y-o-Y Growth (%) Projections by Product, 2023 to 2033
Figure 133: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 134: MEA Market Volume (Litre) Analysis by Application, 2018 to 2033
Figure 135: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 136: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 137: MEA Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 138: MEA Market Volume (Litre) Analysis by Distribution Channel, 2018 to 2033
Figure 139: MEA Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 140: MEA Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 141: MEA Market Attractiveness by Product, 2023 to 2033
Figure 142: MEA Market Attractiveness by Application, 2023 to 2033
Figure 143: MEA Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 144: MEA Market Attractiveness by Country, 2023 to 2033
In 2022, the sales of fish oil worldwide generated almost 2.4 billion revenue.
Soybean seeds are used to produce more than 20% of the fish oil alternatives on an average.
Shifting consumer preference towards plant-based proteins is driving the market.
The net worth of Europe fish oil alternatives market is poised to surpass USD 1.5 billion by 2033.
The food & beverages industry is anticipated to create demand worth over USD 2 billion by 2033.
Explore Similar Insights
Fish Oil Alternatives Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
