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Fish Oil Alternatives Market Size
Fish Oil Alternatives Market size crossed USD 2 billion in 2022 and is poised to witness over 5% CAGR from 2023 to 2032. This is a result of the growing acceptance of plant-based diets to reduce cardiovascular disease burden.
With the growing burden of lifestyle-related diseases, consumer preference for plant-based diets has grown. Based on a CDC report, in 2020, there were 382,820 deaths due to coronary heart disease in the U.S. Since plant-based diets can reduce the risk of heart diseases, the production of fish oil alternatives for vegetarians is likely to rise. Furthermore, people following a strict plant-based diet have limited access to omega-3 fats. These factors will boost the requirement for healthy omega-3 ingredients and fuel the consumption of fish oil alternatives rich in omega-3 fatty acids.
Despite the growth trajectory, the increasing cost of varied plant seeds and their processing may limit the adoption of fish oil substitutes. Likewise, changing weather conditions can affect seed production, causing a rise in the price of vegetable oils. However, the rising application scope of these oils in industry verticals such as cosmetics, animal feed, and pharmaceuticals will create growth opportunities for fish oil alternatives manufacturers over the forecast period.
Why is the demand for chia seed fish oil alternatives growing?
The fish oil alternatives industry share from the chia seeds oil segment will register a 6% CAGR through 2023-2032, considering the rapid rise in demand for personal care solutions.
What is the value of the fish oil alternatives market?
The global fish oil alternatives market size crossed USD 2 billion in 2022 and will depict over 5% CAGR through 2023-2032, due to the high preference for plant-based diets to reduce cardiovascular disease burden.
How large is the Europe fish oil alternatives market?
Europe fish oil alternatives industry is anticipated to be valued at over USD 4 billion by 2032, given the expansion of cattle, poultry, and aquaculture sectors.
Which companies produce fish oil alternatives?
Prominent players in the fish oil alternatives market include Burcon, Cargill Inc., Archer-Daniels-Midland Company (ADM), Dupont, Wilmar International, Prinova Group LLC, Medix Laboratories, Chaitanya Chemicals, and Batory Foods, among others.