Press release
Squid Oil Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Outlook, Competitive Landscape
Squid Oil Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $6.61 billion In 2028 At A CAGR Of 7.5% :
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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Squid Oil Market Major Segments
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
Key Driver - The Growing Consumption Of Seafood Expected To Drive The Squid Oil Market
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.
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Prominent Trend - Product Innovations Enhance Squid Oil Market Growth
Product innovations are a key trend gaining popularity in the squid oil market. Major players operating in the squid oil market are concentrating their efforts on creating innovative products and solutions to sustain their position in the market. For instance, in January 2022, Jinka, a US-based seafood producer, launched the world's first fully prepared plant-based calamari, a type of squid. A perishable frozen product called Jinka's tempura-battered ring imitates the flavor and texture of regular calamari or squid while also offering protein and omega-3 fatty acids.
Squid Oil Market 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.
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Largest And Fastest Growing Region In The Market
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
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Squid Oil Market Report Structure
3. Squid Oil Market Trends And Strategies
4. Squid Oil Market - Macro Economic Scenario
5. Squid Oil Market Size And Growth
…..
27. Squid Oil Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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