Dublin, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The "Fishmeal & Fish Oil Market by Type (Fishmeal, Fish Oil), Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, Carps), Livestock Application (Aquatic Animals, Swine, Poultry, Cattle, Pets), Industrial Application & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the global fishmeal & fish oil market is estimated to be valued at USD 12.1 billion in 2022. It is projected to reach USD 15.4 billion by 2027, with a CAGR of 4.9%, in terms of value between 2022 and 2027.
The market is gaining momentum as fishmeal & fish oil continue to find increased applications across various livestock and industrial applications. The demand for fishmeal & fish oil is gaining significant traction in the industry, especially due to the rising focus on health and nutrition of livestock and pet animals coupled with increasing ageing population, especially in Asia Pacific region. Additionally, the rising innovation in the fishmeal & fish oil market and technological advancements which are enhancing the efficiency of fishmeal & fish oil have contributed to the growth of the market in recent years.
By type, fishmeal is expected to retain its position as the dominant segment over the forecast period
Based on type, the fishmeal segment is likely to account for the dominant segment over the forecasted period. Fishmeal finds extensive applications across the feed industry and are used in livestock feed for a range of animals such as aquatic animals, swine, poultry, cattle, and pets to enhance their feed efficiency and provide a range of health benefits, which will continue to provide significant business opportunities to fishmeal over the forecasted period.
By source, salmon & trout segment occupies the highest market share during the forecast period
Based on source, salmon & trout accounted for the highest market share among all other segments. Salmon & trout contains significant amount of fishmeal & fish oil in salmonoid feed formulation, which is considered essential in enriching the nutrient content of their feed. The high demand and applicability of fishmeal and fish oil in the salmon & trout feeds will continue to present significant growth opportunities over the forecasted period.
By industrial application, aquaculture is forecasted to account for the dominant segment during the forecasted period
Based on livestock, the aquaculture segment is likely to dominate over the forecasted period owing to the significant growth of the aquaculture industry and rapidly improving production and output in recent years, which has contributed to its growing demand. Fishmeal is considered the most widely used and popular feed ingredient for aquaculture as it provides all the essential nutrients needed for farmed fish, which are not available in other ingredients. As a result of the rapidly growing aquaculture industry, fishmeal and fish oil will continue to find significant industrial applications in the aquaculture industry.
By livestock application, aquatic animals are expected to retain their position as the dominant segment over the forecast period
Based on livestock application, aquatic animals segment is expected to account for the largest market share over the forecast period because of the growing demand of high-quality and premium aquatic feed ingredients. With the rise in demand and productivity of aquaculture industry, and desirable characteristics of fishmeal and fish oil to enhance feed efficiency, nutrient intake, digestion and absorption in aquatic animals, they are likely to continue to witness significant demand over the forecasted period.
Market Dynamics
Drivers
- Significant Rise in Aging Population
- Increasing Awareness About Livestock and Pet Health and Nutrition
- Increasing Incorporation of Fishmeal and Fish Oil in Swine and Poultry Diets
- Need for Improving Productivity and Environmental Performance of Aquaculture
Restraints
- Unsustainable Fishing Practices by Fishmeal and Fish Oil Manufacturers
- Increasing Allergic and Toxic Reactions from Consuming Herring and Anchovies
Opportunities
- Growing Pharmaceutical Industry
- Rising Demand for Organic Fertilizers
- Sustainable Intensification of Aquaculture
Challenges
- Environmental and Social Challenges
- Excessive Use of Alternative Feed Ingredients
- Microbial Contamination in Aquafeed
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Fishmeal & Fish Oil Market, by Industrial Application
8 Fishmeal & Fish Oil Market, by Livestock Application
9 Fishmeal & Fish Oil Market, by Source
10 Fishmeal & Fish Oil Market, by Type
11 Fishmeal & Fish Oil Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent and Related Markets
15 Appendix
Companies Mentioned
- Abkhazmorprom
- Arbee
- Asia Fish Oil Corporation
- Austevoll Seafood Asa
- Corpesca S.A.
- Croda International plc
- Dai Dai Thanh Seafoods
- Ff Skagen A/S
- Fks Multi Agro
- Fritz Koster Handelsgesellschaft Ag
- Gc Reiber Oil
- Gold Fin International
- Maxland Group
- Mukka Proteins Limited
- Oceana Group Limited
- Omega Protein Corporation
- Pattani Fish Meal () Co. Ltd.
- Pioneer Fishing
- Raj Fishmeal and Oil Company
- Sandakan Fishmeal Sdn Bhd
- Sursan
- Tasa
- The Scoular Company
- Triplenine
- Wudi Deda Agriculture Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/kwdq80
Attachment
