The Growing Consumption Of Seafood Expected To Drive The Squid Oil Market Driver: Leading Transformation in the Squid Oil Market in 2025

What industry-specific factors are fueling the growth of the squid oil market?
The growth of the squid oil market is anticipated to be fueled by the escalating consumption of seafood. When we speak of seafood, we refer to aquatic life forms like fish, shrimp, octopuses, and other marine animals that humans consume as food. Offering a good source of omega-3 fatty acids, squid oil is a sustainable seafood option that can alleviate the symptoms of rheumatoid arthritis. For example, Fisheries and Oceans Canada, a governmental department in Canada, stated in March 2024 that the consumption of Snow/Queen Crab surged to 61,266 metric tonnes in 2023, a rise from 48,446 metric tonnes recorded in 2022. Moreover, the intake of crab and other similar species amounted to 22,217 metric tonnes in 2023 which was slightly lower than the 24,313 metric tonnes consumed in 2022. Consequently, the uptake of seafood is contributing to the expansion of the squid oil market.

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What Is the projected market size and growth rate for the squid oil market?
The market for squid oil has seen a substantial increase in value over the past few years. The market is projected to expand from a value of $4.94 billion in 2024 to reach $5.35 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.2%. Factors contributing to this growth during the historical period include worldwide market expansion, its use as a fish oil substitute, the cosmetics and skincare sectors, sustainability efforts, and regulatory impacts.

Significant expansion is predicted in the squid oil market over the next few years, projecting to reach a value of "$7.16 billion by 2029, with an annual growth rate of 7.6%. The influence on growth during the forecast years could come from a variety of factors, including market expansion strategies and sustainability initiatives, along with increasing demand from the pharmaceutical and nutraceutical sectors, consumer preferences, and the regulatory landscape. Major trends that will take center stage during the forecast period will be pharmaceutical and nutraceutical demand, sustainability measures, health and wellness trends, research and development activities, and alternatives to fish oil.

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What new trends are reshaping the squid oil market and its opportunities?
Innovations in product development are becoming a significant trend in the squid oil industry. The main players in this market are focusing on the introduction of novel products and solutions to maintain their market position. For instance, Jinka, an American seafood company, in January of 2022, introduced the world's first fully-prepared plant-based calamari, a squid variant. Jinka's tempura-battered ring, a perishable frozen product, replicates the taste and texture of standard calamari or squid, while providing protein and omega-3 fatty acids.

What major market segments define the scope and growth of the squid oil market?
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

Subsegments:
1) By Freshwater: Farmed Freshwater Squid, Wild Freshwater Squid
2) By Marine: Farmed Marine Squid, Wild Marine Squid
3) By Brackish Water: Farmed Brackish Water Squid, Wild Brackish Water Squid

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Which region dominates the squid oil market?
Asia-Pacific was the largest region in the squid oil market in 2024.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

Which key market leaders are driving the squid oil industry growth?
Major companies operating in the squid oil market include 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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What Is Covered In The Squid Oil Global Market Report?

• Market Size Forecast: Examine the squid oil market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the squid oil market for a structured understanding.
• Key Players Overview: Analyze major players in the squid oil market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the squid oil market.
• Segment Contributions: Evaluate how different segments drive overall growth in the squid oil market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the squid oil market.
• Industry Challenges: Identify potential risks and obstacles affecting the squid oil market.
• Competitive Landscape: Review strategic developments in the squid oil market, including expansions, agreements, and new product launches.

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