Oils of fish: fish-liver oils and their fractions, whether or not refined, but not chemically modified

In 2024, oils of fish: fish-liver oils and their fractions, whether or not refined, but not chemically modified trade exhibited strong growth, with global flows reaching $184,634,021 and a three-year compound annual growth rate of +12.8% (five-year: +11.0%). The all-time peak of $184,634,021 was recorded in 2024.

Over the 30-year observation window (1995–2024), 69% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+9.3% acceleration).

The World Trade Flows Characterization classifies oils of fish: fish-liver oils and their fractions, whether or not refined, but not chemically modified as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.133). The three largest exporters — Vietnam ($41.3M), Norway ($37.6M), and Iceland ($31.7M) — collectively dominate supply flows. The leading exporter has grown at +407.7% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.092). The three largest import markets are Singapore ($46.5M), United States ($17.3M), and Norway ($14.5M). The largest importing market sources from 15 different supplying countries.

Estimated substitution elasticity: -6.48. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Vietnam → Singapore at $41.1M, representing 88.2% of the importer's total demand.

The volatility score for oils of fish: fish-liver oils and their fractions, whether or not refined, but not chemically modified is 19 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.