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Squid Oil Market Set To Climb From $5.69 Billion In 2026 To $7.76 Billion By 2030
Recent years have seen robust growth in the squid oil market. It is projected to expand from $5.31 billion in 2025 to $5.7 billion in 2026, registering a compound annual growth rate (CAGR) of 7.2%. This historical expansion can be attributed to several factors, including increased dietary supplement consumption, the expansion of aquaculture operations, a heightened awareness of omega-3 benefits, the availability of marine raw materials, and the adoption of refined marine oils.
The squid oil market is projected to experience substantial growth over the next few years. It is expected to expand to $7.77 billion in 2030, achieving a compound annual growth rate (CAGR) of 8.1%. This anticipated growth during the forecast period is largely due to factors such as an increasing demand for natural omega-3 sources, a growing emphasis on sustainable marine harvesting, the expansion of pharmaceutical-grade oil applications, rising investments in marine by-product utilization, and increased regulatory oversight regarding marine sourcing. Prominent trends expected in this period include a heightened demand for marine omega-3 supplements, the increasing use of squid oil in aquaculture feed, its expanding application in pharmaceutical formulations, the proliferation of sustainable marine sourcing practices, and an enhanced focus on oil purification technologies.
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Squid Oil Market Demand Drivers Opening New Revenue Streams
The growing intake of seafood is set to drive the expansion of the squid oil market moving ahead. Seafood encompasses various aquatic organisms, including fish, shrimp, octopuses, and other marine life, consumed by people as food. Being a rich provider of omega-3 fatty acids, squid oil is a sustainable seafood product known to help calm the signs of rheumatoid arthritis. As an illustration, Fisheries and Oceans Canada, a governmental body situated in Canada, disclosed in March 2024 that the consumption of Snow/Queen Crab reached 61,266 metric tonnes in 2023, an increase from 48,446 metric tonnes recorded in 2022. Furthermore, the total intake of crab and various other species amounted to 22,217 metric tonnes in 2023, contrasting with 24,313 metric tonnes in 2022. Consequently, the rising intake of seafood is propelling the expansion of squid oil.
Squid Oil Market Segment Breakdown: Which Categories Lead On Revenue?
The squid oil market covered in this report is segmented –
1) By Source Type: Wild-Caught Squid, Bycatch-Derived Squid
2) By Oil Processing Grade: Crude Squid Oil, Refined Squid Oil, Concentrated Squid Oil
3) By Application: Nutraceuticals and Dietary Supplements, Pharmaceuticals, Functional Food Ingredients, Aquaculture Feed (Marine Species), Cosmetics and Personal Care
4) By Distribution Channel: B2B Ingredient Suppliers, Nutraceutical Manufacturers, Pharmaceutical Companies, Online Retail (Finished Products), Specialty Health Stores
5) By End User: Supplement Manufacturers, Pharmaceutical Companies, Functional Food Producers, Aquafeed Manufacturers, Cosmetic Formulators
Subsegments:
1) By Wild-Caught Squid: Pelagic Ocean Squid, Deep-Sea Squid
2) By Bycatch-Derived Squid: Processing Waste Squid Oil: Trimming & Offal-Derived Squid Oil
Squid Oil Market Trends: What’s Defining The Industry’s Next Phase?
Leading firms in the squid oil markets are prioritizing the creation of sophisticated products, including fish oil solutions, to boost nutritional supplements and broaden their use in pharmaceuticals and cosmetics. These fish oil solutions generally contain omega-3 fatty acids that are highly concentrated and purified, offering improved health advantages. As an example, in October 2023, DSM-Firmenich AG, a Swiss-based provider known for natural and renewable ingredients and strong scientific and technological expertise, introduced Life’s Omega O3020. This product is a unique single-source algal omega-3 supplement that preserves the natural EPA to DHA ratio found in typical fish oil, yet offers twice the potency. With its 1.5:1 EPA to DHA ratio, this novel product enables dietary supplement companies to shift towards or enhance their omega-3 product lines using a sustainable alternative derived from algae. It provides increased adaptability in addressing critical health issues, boosting consumer appeal while adopting a more environmentally friendly method.
Squid Oil Market Leading Players And Competitive Positioning
Major companies operating in the squid oil market are OLVEA Fish Oils, Aker BioMarine, GC Rieber Oils, LYSI hf, Solutex GC, Rimfrost AS, Nippon Suisan Kaisha Ltd., Maruha Nichiro Corporation, Pesquera Exalmar SAA, TASA, COPEINCA ASA, Triplenine Group, China National Fisheries Corporation, Pescanova, Omega Protein Corporation, SeaDragon Marine Oils Limited, Qingdao Haixingyuan Biotechnology Co. Ltd., Tianjin YR Chemspec Technology Co. Ltd., Shen Zhen Simeiyue Tech Co. Ltd., Sireal
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Squid Oil Market Geographic Analysis: Where Is Demand Rising Fastest?
Asia-Pacific was the largest region in the squid oil market in 2025.Europe is expected to be the fastest-growing region in the squid oil market report during the forecast period. The regions covered in the squid oil market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
