Fish Oil Alternatives Market Analysis

Fish Oil Alternatives Market Analysis

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Based on the product, the fish oil alternatives market share from the chia seeds oil segment will register a 6% CAGR through 2032, attributed to the escalating demand for personal care solutions. For example, in the first half of 2022, the beauty and personal care segment of Unilever recorded a 7.5% increase in sales. Since chia seed oil has multiple benefits, such as preventing wrinkles due to enhanced fatty acid and antioxidant content, its application in cosmetic and personal care products is likely to grow. Furthermore, increasing awareness of the product’s high nutritional value will strengthen the industry outlook.
 

The food and beverage industry applications segment is set to surpass USD 2 billion by 2032, owing to the mounting intake of healthy foods. This trend has encouraged restaurant caterers and owners to adapt to changing dietary habits through the delivery of fresh cuisines, promoting the use of plant-based oils. The imbalance of fats in human diets has also become a challenge for the food production industry, because of the constant rise in the global population. These factors will fuel the adoption of ingredients such as algae oils as a healthy source of monounsaturated fats in the food and beverages sector.
 

Fish oil alternatives market size from B2C distribution channels is slated to exhibit a 5% CAGR during the forecast timeline, on account of growing demand for vegetable oils for daily household cooking applications. Plant-based diets rich in minerals, vitamins, and fibers are also expected to gain traction among health-conscious consumers over the upcoming years. The emerging trend of healthy diets will thus prompt the general population to consume vegetable oils and subsequently boost B2C product sales.
 

From a regional standpoint, the Europe fish oil alternatives market is projected to cross USD 4 billion by 2032, given the consistent progress in the regional cattle, poultry, and aquaculture sectors. As per data from AgriFarming, in Germany, close to 60 million broilers, 34 million laying hens, and 11 million turkeys are produced, improving the usage of fish oil alternatives in animal feeds. Likewise, the growing number of health-conscious consumers and the flourishing hospitality sector will proliferate the intake of fish oil alternatives such as vegetable oil across the European region.