The fish oil alternatives market has shown strong growth in recent years, with its size increasing from $2.49 billion in 2023 to $2.68 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.7%. This growth can be attributed to increasing awareness of fish oil contaminants, a rising prevalence of fish allergies, a growing vegetarian and vegan population, the health benefits of omega-3 fatty acids, and a heightened demand for dietary supplements. Looking ahead, the market is expected to continue its robust expansion, reaching $3.62 billion by 2028 at a CAGR of 7.8%. This anticipated growth is driven by emerging health and wellness trends, rising demand for clean-label products, regulatory pushes for sustainable options, a growing market for vegan supplements, and increasing awareness of omega-3 health benefits. Major trends in the forecast period include increased investment in algae farming, advancements in oil extraction technology, expansion of vegan product lines, rising regulatory support for sustainable alternatives, and further technological improvements in oil extraction.
Global Fish Oil Alternatives Market Key Driver
The growing popularity of vegan food is expected to propel the growth of the fish oil alternatives market going forward. The increasing preference for vegan diets is driven by heightened health consciousness, environmental concerns, and ethical considerations regarding animal welfare. Fish oil alternatives such as algae oil and flaxseed oil are gaining traction for providing essential omega-3 fatty acids without using animal sources. These alternatives not only support cardiovascular health but also offer environmentally sustainable options for vegans. For example, in May 2023, the International Food Information Council reported that the percentage of people following vegan diets jumped to 52% in 2022, up from 39% in 2021, with the vegan population also rising to 2% compared to the previous year. Therefore, the growing popularity of vegan food is driving the expansion of the fish oil alternatives market, with projections indicating continued growth.
Get A Free Sample Of The Fish Oil Alternatives Market Report
Global Fish Oil Alternatives Market Segments
The fish oil alternatives market covered in this report is segmented –
1) By Product Type: Chia Seed Oil, Soybean Oil, Canola Oil, Hemp Seed Oil, Algae Oil, Walnut Oil, Flaxseed Oil, Other Product Types
2) By Species: Anchovy, Cod Liver, Menhaden, Tuna, Sardine, Salmon, Other Species
3) By Application: Food And Beverage Industry, Cosmetics And Personal Care, Animal Feed, Pet Food Additive, Pharmaceuticals, Nutraceuticals, Bio Fuels, Other Applications
By Geography:The regions covered in the fish oil alternatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the fish oil alternatives market in 2023.
Major Fish Oil Alternatives Industry Players
Cargill Inc., Archer Daniels Midland Company (ADM), BASF SE, Wilmar International, CHS Inc., Dupont De Nemours, Koninklijke DSM N.V., Croda International, Corbion, Pelagia AS, Omega Protein Corporation, Olvea Group, Connoils LLC, Sonic Biochem, TerraVia Holdings, Bioway Organic Group Limited, Veramaris, AlgiSys BioSciences Inc., GC Rieber Oils, Medix Laboratoires
Purchase The Global Fish Oil Alternatives Market Report Directly And Get A Swift Delivery
Fish Oil Alternatives Market Overview
Fish oil alternatives refer to sustainable sources of omega-3 fatty acids derived from non-fish sources such as algae, krill, flaxseed, and chia seeds, providing nutritional benefits similar to traditional fish oil. These alternatives are used primarily as dietary supplements to support cardiovascular health, cognitive function, joint health, and overall well-being, catering to consumers seeking vegan or sustainable options.
Fish Oil Alternatives Global Market Report 2023 provides data on the global fish oil alternatives market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fish oil alternatives market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
