The global fishmeal & fish oil market size is expected to reach USD 20.42 billion by 2032, expected to grow at a CAGR of 4.60% during the forecast period.
The Fishmeal and Fish Oil Market involves the production, distribution, and application of fishmeal and fish oil, which are derived from small fish species such as anchovies, sardines, and mackerel. These products serve as essential nutritional supplements in the aquaculture, animal feed, and dietary supplements industries due to their high protein and omega-3 fatty acid content.
Market Growth Drivers
- Expansion of Aquaculture:
The growing need for aquafeed to support fish farming activities is the primary driver for fishmeal and fish oil demand. - Rising Awareness of Omega-3 Fatty Acids:
Increasing consumer awareness about the health benefits of omega-3, such as cardiovascular health improvement, is fueling demand for fish oil in dietary supplements. - Growth in Livestock and Poultry Farming:
Fishmeal is a critical ingredient in livestock and poultry feed due to its rich protein content, promoting healthier animals and higher yield.
Some of the major players operating in the global market include:
- FKS Multi Agro
- Mukka Proteins
- Sandakan Fishmeal
- Raj Fishmeal
- Asia Fish Oil
- Pattani Fish Meal
- Austevoll Seafood
- Scoular Company
- Croda International
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Key Trends
- Shift Toward Alternative Raw Materials:
With concerns over overfishing, the market is exploring alternative sources for fishmeal and fish oil, such as algae-based oils and plant-based proteins. - Focus on Aquaculture Sustainability:
Improved fishery management practices and the use of by-products from fish processing are gaining traction to ensure environmental sustainability. - Technological Advancements in Processing:
Innovations in extraction and refinement technologies are enhancing the quality and yield of fishmeal and fish oil products.
Recent Developments
- In March 2022, Scoular, established its new fish-meal facility in Myanmar. This facility provided high-quality shipment to the Asian markets and the facility will further expands Scoular’s capabilities to produce and supply high-quality ingredients.
- In June 2022, Phileo, introduced new product ‘Prosaf’. This yeast extract, is primarily obtained by the primary fermentation with high protein content that offers highly bio-available nutrients to boost the digestibility of the plant-based diets.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Fishmeal & Fish Oil, Source Outlook (Revenue – USD Billion, 2019 – 2032)
- Salmon & Trout
- Marine Fish
- Crustaceans
- Tilapia
- Carps
- Other Sources
Fishmeal & Fish Oil, Livestock Outlook (Revenue – USD Billion, 2019 – 2032)
- Aquatic Animals
- Swine
- Poultry
- Cattle
- Pets
Fishmeal & Fish Oil, Industrial Application Outlook (Revenue – USD Billion, 2019 – 2032)
- Fertilizers
- Aquaculture
- Pharma
The Fishmeal and Fish Oil Market plays a crucial role in supporting global food security and sustainability. Its applications in aquaculture, animal feed, and human nutrition make it indispensable across industries. With growing concerns over sustainability and increasing consumer awareness of omega-3 benefits, the market is evolving to incorporate innovations in production and alternative raw materials. The integration of sustainable practices and the exploration of new applications will further drive market growth in the coming years.
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