Canada Fish Oil Market

Canada Fish Oil Market Insights Forecasts to 2035

• Canada Fish Oil Market Size 2024: USD 447.6 Million
• Canada Fish Oil Market Size 2035:  USD 768.5 Million
• Canada Fish Oil Market CAGR 2024: 5.04%
• Canada Fish Oil Market Segments: Source and Application

The fish oil market in Canada signifies all the processes linked to the production, distribution, and sale of fish oil products. These products, mainly derived from fatty fish, are used for health benefits as dietary supplements, nutraceuticals, and pharmaceuticals.

 

Nutritarianism total Omega-3, a canola-derived plant-based omega-3 oil, has been licensed by Health Canada as a component of dietary supplements. The product comprises DHA, EPA, and ALA altogether and is marketed as a green option for standard fish oil, thus solving the problem of marine resources becoming depleted while keeping the heart and brain healthy.

 

The Ocean Supercluster of Canada, which is backed by the Government of Canada, provides funding for projects that improve the technology of marine bio products, including non-fish oil omega-3 innovations. One of the prominent projects is the Fishless Marine Microbial Fish Oil Project, which is supported by multi-million-dollar funding to produce omega-3 oils from algae that can substitute the health benefits of fish oil and, at the same time, limit fish stock depletion. This means that Canada is making a gradual shift to sustainable sources of omega-3 and, in addition, it contributes to the creation of jobs and the growth of the ocean industry.

 

The combination of growing preference for eco-friendly products, an ageing population, and health-conscious consumers is opening up new avenues for the development of eco-friendly supplements, functional foods, and aquaculture feed innovations in Canada's fish oil market.

 

Market Dynamics of the Canada Fish Oil Market:

The Canada fish oil market is driven by the increased awareness of the beneficial effects of omega-3 fatty acids on the heart, the brain, and the joints, the propensity for dietary supplements and functional foods, and the demand for plant-based and sustainable products. The government helps with regulations and approvals, as well as the development of omega-3 oils from algae and canola, thus increasing the market size. Pet nutrition and fish farming are the industries developing with the most applications, and these areas are adding to the demand for the final product.

 

The Canada fish oil market is restrained by the high cost of production, the instability of the fish supply, and the deterioration of the aquatic environment due to over-fishing. Moreover, the heavy regulatory requirements, the risk of contaminants in the fish oil, and the consumer's preference for alternative plant-based sources of omega-3 all stymy market development to varying degrees.

 

The future of Canada's fish oil market is bright and promising, with the combination of factors such as health awareness, a progressive plant-based and sustainable omega-3 alternatives market, new product launches, and expansion in the market of supplements, functional foods, and aquaculture, which will drive strong growth.

 

Market Segmentation

The Canada Fish Oil Market share is classified into source and application.

 

By Source:

The Canada fish oil market is divided by source into salmon oil, cod liver oil, anchovy oil, mackerel oil, and sardine oil. Among these, the salmon oil segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Salmon oil takes the lead because of the large Canadian salmon supply, the high omega-3 (EPA/DHA) content, the strong consumer preference, and the extensive use in dietary supplements and pet nutrition.

 

By Application:

The Canada fish oil market is divided by application into dietary supplements, pharmaceuticals, cosmetics, animal feed, and functional foods. Among these, the dietary supplements segment accounted for the largest market share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Dietary supplements take the lead because of the high consumer awareness of omega-3 health benefits, the widespread preventive healthcare use, the easy availability and the strong demand for heart, brain and wellness products.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the Canada Fish Oil market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 

 

Top Key Companies in Canada Fish Oil Market:

• Bioregional Food & Science Corp.
• Ocean Nutrition Canada Ltd.
• Marquis Omega-3 Inc.
• Webber Naturals (WN Pharmaceuticals LTD)
• Natural Factors
• Jamieson
• Genuine Health
• Others

 

Recent Developments in Canada Fish Oil Market:

In March 2024, Bioregional Food & Science Corp. of Canada presented an eco-friendly variety of omega-3 oils consisting of fish, algae, and plant-based sources, all made through POS Biosciences technology. The company is marketing these new products for both human & pet nutrition, and is also highlighting the concept of traceability in sourcing and being environmentally responsible.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at the Canada, regional, and country levels from 2020 to 2035. Decisions Advisors has segmented the Canada fish oil market based on the below-mentioned segments:

 

Canada Fish Oil Market, By Source

• Salmon Oil
• Cod Liver Oil
• Anchovy Oil
• Mackerel Oil
• Sardine Oil

 

Canada Fish Oil Market, By Application

• Dietary Supplements
• Pharmaceuticals
• Cosmetics
• Animal Feed
• Functional Foods

 

FAQ

Q: What is the Canada fish oil market size?

A: Canada Fish Oil Market is expected to grow from USD 447.6 million in 2024 to USD 768.5 million by 2035, growing at a CAGR of 5.04% during the forecast period 2025-2035.

 

Q: What are the key growth drivers of the market?

A: Market growth is driven by the increased awareness of the beneficial effects of omega-3 fatty acids on the heart, the brain, and the joints, the propensity for dietary supplements and functional foods, and the demand for plant-based and sustainable products. The government helps with regulations and approvals, as well as the development of omega-3 oils from algae and canola, thus increasing the market size. Pet nutrition and fish farming are the industries developing with the most applications, and these areas are adding to the demand for the final product.

 

Q: What factors restrain the Canada fish oil market?

A: Constraints include the high cost of production, the instability of the fish supply, and the deterioration of the aquatic environment due to over-fishing. Moreover, the heavy regulatory requirements, the risk of contaminants in the fish oil, and the consumer's preference for alternative plant-based sources of omega-3 all stymy market development to varying degrees.

 

Q: How is the market segmented by source?

A: The market is segmented into salmon oil, cod liver oil, anchovy oil, mackerel oil, and sardine oil.

 

Q: Who are the key players in the Canada fish oil market?

A: Key companies include Bioregional Food & Science Corp., Ocean Nutrition Canada Ltd., Marquis Omega-3 Inc., Webber Naturals (WN Pharmaceuticals LTD), Natural Factors, Jamieson, Genuine Health and others.

 

Q: Who are the target audiences for this market report?

A: The report targets market players, investors, end-users, government authorities, consulting and research firms, venture capitalists, and value-added resellers (VARs).