DUBLIN, Jan. 31, 2024 /PRNewswire/ — The “Squid Oil Global Market Report 2024” has been added to ResearchAndMarkets.com’s offering.
Recent market analysis highlights the burgeoning trajectory of the squid oil industry, driven by escalating demand in the pharmaceutical and nutraceutical sectors as well as rising consumer health awareness.
Extensive research into this market illustrates a projected growth from $4.94 billion in 2024 to an impressive $6.61 billion by 2028, amplifying at a steady compound annual growth rate of 7.5%.
This remarkable expansion is tethered to various elements, including the worldwide thrust towards sustainable food sources and the strategic market advancement maneuvers by major entities. Innovation in product offerings is spearheading trends within the sector, as leading companies concentrate on unveiling groundbreaking solutions to sustain prominence in the global market.
The Asia-Pacific region has emerged as a vanguard in the squid oil market space, demonstrating dominant performance in 2023, while Europe is on course to chart out the swiftest growth rate across the global market in the upcoming years. With intensifying health-centric consumer preferences and escalating seafood consumption, the market is poised for an upsurge in both production and value.
An array of squid oil types, including freshwater and marine-derived offerings, can be procured across multiple distribution channels such as online retailers, health food stores, and specialized supplement outlets. These variations boast a diverse range of applications across the fertilizers, aquaculture, and pharmaceutical industries.
Key Drivers of Market Growth
- Increased seafood consumption and its associated health benefits
- Heightened health consciousness amongst consumers worldwide
- The surging application of squid oil in pharmaceuticals
- An upward trend in the adoption of sustainable food sources
Product innovation is resonating prominently within the market, as companies strive to cater to the health and wellness trend through superior and sustainable alternatives to traditional fish oil products. Significant market developments are further demonstrated through strategic corporate acquisitions aimed at fortifying market positioning and capitalizing on emerging opportunities.
The intricate dynamics of the squid oil market are meticulously unpacked in this comprehensive market research report. It offers an all-inclusive overview of market size, participant shares, segmentation analysis, growth drivers, looming opportunities, and forward-looking industry trends – an indispensable resource for stakeholders aiming to navigate the complexities of the market landscape.
The report delineates the sale of fish oil, krill oil, and other value-added extracts, underscored by ‘factory gate’ values. It accentuates the revenue implications of the squid oil market, encompassing the manufacturing and consumption patterns within the specified market segments and geographies.
The squid oil market is set on a steady voyage of growth, with a strong emphasis on sustainability, health and wellness, and refined customer preferences shaping its future course. The trenchant analysis provided in this report unlocks pivotal metrics and insights requisite for a comprehensive understanding of this rapidly evolving market.
- By Culture: Freshwater; Marine; Brackish Water
- By Distribution channel: Online retailers; Health food stores; Specialty Supplement Stores
- By Applications: Fertilizers; Aquaculture; Pharmaceutical
- Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
- Country and regional historic and forecast data, market share of competitors, market segments
- 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
- Triplenine Group
- China National Fisheries Corporation
- COPEINCA ASA
- Omega S.A.
For more information about this report visit https://www.researchandmarkets.com/r/xa8d5t
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Originally published at https://www.prnewswire.com/news-releases/global-4-94-billion-squid-oil-market-report-2024—surging-application-of-squid-oil-in-pharmaceuticals-302049257.html
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