Overview and Scope
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.
Sizing and Forecast
The squid oil market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.94 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. 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 $6.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. 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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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the squid oil market in 2023. 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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Major Driver Impacting Market Growth
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 September 2021, according to a report from the Blue Food Assessment (BFA) published by Nature Communications, the UK-based peer-reviewed journal, fish consumption is projected to double by 2050. Global consumption is expected to rise from 80 million metric tons in live weight to nearly 155 million metric tons across all categories of fish and shellfish over the next thirty years, contingent upon sustained production levels and stable real prices. Therefore, the increasing consumption of seafood is driving the growth of squid oil.
Key Industry Players
Major companies operating in the squid oil market report are 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.
The squid oil market report table of contents includes:
- Executive Summary
- Squid Oil Market Characteristics
- Squid Oil Market Trends And Strategies
- Squid Oil Market – Macro Economic Scenario
- Global Squid Oil Market Size and Growth
- Squid Oil Market Segmentation
- Squid Oil Market Regional And Country Analysis
………………
- Key Mergers And Acquisitions In The Squid Oil Market
- Squid Oil Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Squid Oil Market, Segmentation By Culture, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Squid Oil Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Squid Oil Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 73: Africa, Squid Oil Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 74: King Fish Products Pvt. Ltd. Financial Performance
Table 75: Bawa Fishmeal & Oil Co. Financial Performance
Table 76: Aksha Fish Meal & Oil Company Financial Performance
Table 77: Impextraco NV Financial Performance
Table 78: Landbridge Ltd. Financial Performance
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