Fish Oil Alternatives Market Size By Product (Chia Seeds Oil, Soybean Oil, Canola Oil, Hemp Seed Oil, Algae Oil, Walnut Oil, Flaxseed Oil), by Application (Food & Beverage Industry, Cosmetics and Personal Care, Animal Feed, Pet Food Additive, Pharmaceutic

Fish Oil Alternatives Market Size By Product (Chia Seeds Oil, Soybean Oil, Canola Oil, Hemp Seed Oil, Algae Oil, Walnut Oil, Flaxseed Oil), by Application (Food & Beverage Industry, Cosmetics and Personal Care, Animal Feed, Pet Food Additive, Pharmaceuticals, Nutraceuticals, Biofuels), By Distribution Channel (B2B, B2C {Store-based Retail [Hypermarket/Supermarket, Convenience Stores, Traditional Grocery Stores, Specialty Stores] Online Retail}), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Global Fish Oil Alternatives Market is anticipated to showcase lucrative growth during 2023–2032, owing to the constantly surging demand for natural ingredients in animal feed, including vegetable oils. Vegetable oils have been in demand, over the years, owing to several benefits such as reducing the risk of cardiovascular diseases, lowering chances of breast cancer, better metabolism and digestion, and providing omega-3 fatty acids to the body. Besides, the rising meat consumption will also drive the demand for high-quality feed, encouraging farmers to use animal feeds with high nutritional values.

Overall, the global fish oil alternatives industry is segmented in terms of product, application, distribution channel, and region.

Based on product, the canola oil segment is anticipated to depict 5% CAGR through 2032. Canola oil is used widely in food preparation owing to its high monounsaturated fat content. Besides, the rising inclination towards consumption of healthy ingredients will support the demand for canola oil in the future.

By application, the cosmetics and personal care segment will be valued at USD 660 million by 2032. The growth will be attributed to the rising use of vegetable oils in skincare and haircare products owing to the high content of polyunsaturated fatty acids, vitamin A, vitamin D, vitamin E, and other nutrients. In skincare, canola oil offers superior hydration and is deemed to be a rich source of antioxidants for personal care products such as soaps, lotions, creams, body washes, and more. It also boasts of moisturizing abilities to nourish and moisturize skin.

Considering the distribution channel, the B2B segment is anticipated to exhibit 4.5% CAGR through 2032. An increasing demand for food products by consumers is speculated to result in high demand for vegetable oils from the food industry. Besides, its rising application in the feed industry is also slated to increase the adoption of fish oil alternatives by animal feed manufacturers.

Regionally, the Asia Pacific fish oil alternatives market will be valued at around USD 1.3 billion by 2032. Expanding medical & pharmaceutical, cosmetic, food & beverages, and cattle & poultry farming industries are expected to contribute to the growing product penetration. Besides, the rising spending on food and other services will also accelerate the product demand the region. Currently, the region has several restaurants from large chains that are estimated to grow in the future. In the coming years, the demand for healthy food products will also rise subsequently, thus positively supplementing the market growth.