Expanding at a CAGR of 7%, the global Fish Meal Market is predicted to increase from a valuation of US$ 5.6 billion in 2023 to US$ 11 billion by the end of 2033. Consumption of crustaceans is projected to rise faster than the overall market average at a CAGR of 7.5% owing to rapidly rising demand from the dietary supplements industry.
Nearly one-third of the wild fish harvested worldwide is processed into fish oil and fish meal, which are then used as livestock feed for pigs and chickens as well as in the diets of farmed carnivorous fish. Over the next 20 years, aquaculture is predicted to grow quickly. Several experts are worried that this would put more fishing strain on feedstocks that are already depleted. Fish meal is typically prepared from fish species that are not consumed by humans directly or from by-products of the preparation of seafood.
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Key Takeaways:
- Fish meal industries have led to increased demand for crustacean fishmeal, tilapia Fishmeal, sardine fishmeal and anchovies are in high demand in North America.
- Germany fish meal market is predicted to witness robust growth over the upcoming decade.
- Sales of fish meal in Japan are projected to grow at a CAGR of 6.5% during the forecast period (2023-2033).
- Increasing consumption of seafood in the U.S. to push the sales in North America fish meal market.
- North America is estimated to account for the largest share of the fishmeal sector due to increasing demand for protein additives in feed.
Competitive Landscape:
The use of creative marketing methods is enabling fish meal suppliers to grow at a rapid pace. Top producers of fish meal have sought to raise knowledge about the health advantages of products made from marine by-products such as fish meal by investing appropriately at each step of product development.
For instance :
- Biomega AS, a global fish oil and fish meal producer, will extend its operations by investing in a biorefinery in Denmark. This facility expansion is intended to drive salmon-derived product development, assisting the company in establishing a strong presence in the fish meal industry.
Key Companies Profiled:
- Omega Protein Corporation
- Copeinca
- TripleNine
- Orizon SA
- Pesquera Diamente S.A.
- Biomega AS
- Animal Feeds International Corporation
- Pesquera Hayduk SA
- Oceana Group Limited S.A.
- Empresas Copec S.A.
- Sardina D.O.O
Growth Drivers:
- Inclination for organic aquaculture industry, grounded on optimizing nutrient content, food quality and resource efficiency, is propelling demand for organic fishmeal.
- Demand for shellfish is anticipated to increase significantly as awareness of the nutritional properties of shellfish surges in pharmaceuticals.
- Increasing shift from high calorie foods to high protein diets is driving demand for organic fishmeal.
Key Segments Covered in Fish Meal Industry Research:
· By Product :
- Crustaceans
- Crabs
- Lobsters
- Crayfish
- Shrimps
- Prawns
- Krill
- Woodlice
- Barnacles
- Cyprinids
- Tuna
- Tilapia
- Swordfish
- Salmons
- Milkfish
- Catfish
- Trout
- Marine Fish
- Eels
- Mollusos
· By Nature :
- Organic Fish Meal
- Conventional Fish Meal
· By Application :
- Animal Feed
- Aqua Feed
- Poultry
- Pharmaceuticals
- Dietary Supplements
- Fertilizers
· By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Fish Meal make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Fish Meal Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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