Squid Oil Market: Major Trends Reshaping the Future of the Industry

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What Will the Squid Oil Industry Market Size Be by 2025?
In the past few years, the market size of squid oil has experienced robust growth. The market is projected to expand from $4.94 billion in 2024 to reach $5.35 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.2%. Factors contributing to the growth during the historic period include an expanding global market, the use of squid oil as an alternative to fish oil, its utilization in the cosmetics and skincare industry, implementation of sustainable practices, and regulatory influences.

What's the Long-Term Growth Forecast for the Squid Oil Market Size Through 2029?
The market for squid oil is anticipated to witness significant expansion in the upcoming years, with the market value expected to reach "$7.16 billion by 2029, at a compound annual growth rate (CAGR) of 7.6%. This growth during the forecast period can be credited to strategies aimed at market expansion, sustainability efforts, pharmaceutical and nutraceutical demands, consumer trends, and regulatory policies. Dominant trends projected during this timeframe involve increased demand in pharmaceutical and nutraceutical sectors, implementation of sustainability measures, health and wellness trends, extensive research and development, and its popularity as an alternative to fish oil.

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What Are the Key Growth Drivers Fueling the Squid Oil Market Expansion?
The escalating demand for seafood is anticipated to stimulate the expansion of the squid oil market in the future. Seafood encompasses marine entities such as fish, shrimp, octopuses, among other oceanic organisms, which are considered edible by humans. Squid oil, replete with omega-3 fatty acids, serves as a sustainable seafood source, aiding in alleviating rheumatoid arthritis symptoms. For example, in March 2024, Canada's Fisheries and Oceans department disclosed that Snow/Queen Crab intake rose to 61,266 metric tonnes in 2023 from 48,446 metric tonnes the previous year. Moreover, the consumption of crab and other species amounted to 22,217 metric tonnes in 2023, slightly lower compared to 24,313 metric tonnes in 2022. Thus, the amplified consumption of seafood contributes to the proliferation of the squid oil market.

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What Are the Key Trends Driving Squid Oil Market Growth?
One of the prevailing trends in the squid oil market is a surge in product innovations. Dominant players in this field are focusing on developing novel products and solutions to maintain their market standing. For instance, Jinka, an American seafood company, unveiled the world's first ready-to-eat plant-based calamari, a kind of squid, in January 2022. This frozen perishable product, called Jinka's tempura-battered ring, replicates the taste and feel of regular calamari or squid, and additionally provides protein and omega-3 fatty acids.

How Is the Squid Oil Market Segmented?
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 Companies Are Leading the Charge in Squid Oil Market Innovation?
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.

Which Regions Are Leading the Global Squid Oil Market in Revenue?
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

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