The Business Research Company’s report on the Squid Oil Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the squid oil market in recent years?
The increasing consumption of seafood is expected to propel the growth of the squid oil market going forward. Seafood refers to aquatic creatures such as fish, shrimp, octopuses, and other sea creatures that are regarded as food by humans. Squid oil is a good source of omega-3 fatty acids and a sustainable source of seafood that helps soothe the symptoms of rheumatoid arthritis. For instance, in March 2024, Fisheries and Oceans Canada, a Canada-based government department, reported that Snow/Queen Crab consumption reached 61,266 metric tonnes in 2023, up from 48,446 metric tonnes in 2022. Additionally, the consumption of crab and other species totaled 22,217 metric tonnes in 2023, compared to 24,313 metric tonnes in 2022. Therefore, the increasing consumption of seafood is driving the growth of squid oil.
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What is the projected market size of the squid oil industry, and how is it expected to grow?
The squid oil market size has grown strongly in recent years. It will grow from$4.94 billion in 2024 to $5.35 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to global market growth, alternative to fish oil, cosmetics and skincare industry, sustainability practices, regulatory influence
The squid oil market size is expected to see strong growth in the next few years. It will grow to “$7.16 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to market expansion strategies, sustainability measures, pharmaceutical and nutraceutical demands, consumer preferences, regulatory environment. Major trends in the forecast period include pharmaceutical and nutraceutical demand, sustainability practices, health and wellness trends, research and development, alternative to fish oil.
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Who are the key players driving competition in the squid oil market?
Major companies operating in the squid oil market include King Fish Products Pvt. Ltd., Bawa Fishmeal & Oil Co., Aksha Fish Meal & Oil Company, Impextraco NV, Landbridge Ltd., Coastal Group, Star Fish Exports, Qingdao Haixingyuan Biotechnology Co. Ltd., Tianjin YR Chemspec Technology Co. Ltd., Shen Zhen Simeiyue Tech Co. Ltd., OLVEA Fish Oils, Aker BioMarine, Croda International Plc, Omega Protein Corporation, GC Rieber Oils, SeaDragon Marine Oils Limited, LYSI hf, Solutex GC, Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd., Pacific Andes International Holdings Limited, Pesquera Exalmar S.A.A., Rimfrost AS, Sireal, TASA, Triplenine Group, China National Fisheries Corporation, COPEINCA ASA, Pescanova, Omega S.A.
What key trends are expected to drive the spunbond nonwovens market during the forecast period?
Product innovations are a key trend gaining popularity in the squid oil market. Major players operating in the squid oil market are concentrating their efforts on creating innovative products and solutions to sustain their position in the market. For instance, in January 2022, Jinka, a US-based seafood producer, launched the world’s first fully prepared plant-based calamari, a type of squid. A perishable frozen product called Jinka’s tempura-battered ring imitates the flavor and texture of regular calamari or squid while also offering protein and omega-3 fatty acids.
Which key geographies are driving the growth of the squid oil market?
Asia-Pacific was the largest region in the squid oil market in 2024.Europe is expected to be the fastest-growing region in the global squid oil market report during the forecast period. The regions covered in the squid oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the squid oil market?
The squid oil market covered in this report is segmented –
1) By Culture: Freshwater, Marine, Brackish Water
2) By Distribution channel: Online retailers, Health food stores, Specialty Supplement Stores
3) By Applications: Fertilizers, Aquaculture, Pharmaceutical
Subsegments:
1) By Freshwater: Farmed Freshwater Squid, Wild Freshwater Squid
2) By Marine: Farmed Marine Squid, Wild Marine Squid
3) By Brackish Water: Farmed Brackish Water Squid, Wild Brackish Water Squid
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What defines the structure and scope of the squid oil market?
Squid oil refers to purified, winterized, and deodorized fatty oil obtained from the body of the squid. It has omega-3 fatty acid source that benefits the heart, brain, and eyes.
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