New York, US, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Fishmeal Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Fishmeal Market Information By Source, Livestock, Application, End User, And Region - Forecast till 2030"; the market will reach USD 15087.33 million by 2030 at a 7.5% CAGR.
Market Synopsis
Due to its high protein content and an excellent supply of Omega 3, minerals, and fatty acids, a fish meal has been a significant and crucial ingredient in the fertilizer industry and aquaculture. Due to the rise in consumption of aquaculture, poultry, and pig farming, as well as other forms of animal husbandry, the demand for fishmeal is predicted to experience rapid expansion. Fishmeal boosts animal performance and quality as a superb source of protein and nutrition. Products manufactured from fishmeal are frequently utilized as fertilizers and animal feed. To create fishmeal in the form of a cake or powder, the raw fish is first sliced and pressed, then dried and crushed. Fishmeal can be made by businesses using a plentiful supply of inexpensive raw materials to meet global customer demand. These fish species are rich in nutrients and oil, so the fish meal they generate is of the highest caliber.
In addition to being a strong source of protein and a protein bypass for monogastric and ruminating animals, fishmeal offers a rich nutritional supply of phosphate and calcium in animal diets. A rise in the requirement for natural-origin protein additions in animal feed is expected to spur industry growth. The fish meal market is expected to grow over the projected period for additional reasons, including rising fish consumption, higher awareness of the advantages of fish meal, rising aquaculture, and increased usage of fish meal in fertilizers. Trout and salmon are frequently used as raw material sources for manufacturing fishmeal. The waste materials in fish processing factories have increased due to the large increase in trout and salmon farming during the past few years.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 15087.33 million |
| CAGR | 7.5% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Source, Livestock, Application, End User, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Fishmeal is used as a natural, protein-rich component of animal feed |
| rising demand for fresh, nutrient-dense fishmeal for animals |
Market Competitive Landscape:
The important companies contributing to the fishmeal market are:
- Empresas Copec S.A. (Chile)
- Alpha Atlantique (Morocco)
- Animalfeeds International Corporation (USA)
- Novus International Inc. (US)
- FMC Corporation (US)
- Calysta Inc. (US.)
- Austevoll Seafood ASA (Norway)
- Pioneer Fishing (Pty) Ltd. (South Africa)
- Aker Biomarine Antarctic AS (Norway)
- Croda International Plc. (UK)
- Biomega AS (Norway)
- Omega Protein Corporation (US)
- Oceana Group Limited (South Africa)
- The Scoular Company (US.)
- Sarma Fish SARL (Morocco)
Browse In-depth Market Research Report (110 Pages) on Fishmeal:
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Market U.S.P. Covered:
Market Drivers:
Products manufactured from fishmeal are frequently utilized as fertilizers and animal feed. To create fishmeal in the form of a cake or powder, the raw fish is first sliced and pressed, then dried and crushed. In addition to being a strong source of protein and a protein bypass for monogastric and ruminant animals, fishmeal offers a rich nutritional supply of calcium and phosphate in animal diets. The demand for components for animal feed that are high in protein has increased as animal farming has become more industrialized to improve feed conversion rates. To assist them in gaining weight and providing meat that is high in protein, industrially farmed cattle are typically fed concentrates manufactured from cereal and vegetable protein, such as soybean meals. Animals raised for food rely on proteins and other nutrients as building blocks vital for development.
Proteins in animal diets provide vital amino acids like lysine and methionine and are good energy sources. Animal protein meals, fishmeal, bone meals, feather meals, and blood meals are all in high demand due to expanding knowledge of the advantages of proteins on animal health. When fed to cattle, fishmeal is an excellent source of minerals, protein, and fatty acids and is quickly assimilated. A rise in the requirement for natural-origin protein additions in animal feed is expected to spur industry growth. The fish meal market is projected to grow in the future due to additional factors such as rising consumption of fish, increased awareness of the advantages of fish meal, developing aquaculture, and greater utilization of fish meal as fertilizer over the forecast period.
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Market Restraints:
However, a shortage of infrastructure and sufficient storage areas, such as cold storage, in important developing nations may be a problem limiting the expansion of the fishmeal market. Another important factor that can prevent the growth of this business is that many governments place limitations on fishing to protect the environment.
COVID 19 Analysis
The pandemic affected the market. However, due to growing consumer health awareness and understanding of the health risks associated with chemical fertilizers, organic farming is becoming more and more popular. Fishmeal fertilizers, which are affordable for businesses and advantageous for plant nutrition, are made from fish waste. It also benefits the fish processing sector because the garbage is transported to fertilizer businesses for further processing. People have always considered fishing as a reliable raw material source for fertilizer.
Market Segmentation
By source, the market includes salmon & trout, marine fish, crustaceans, and tilapia. By application, the market includes fertilizers and animal feed. By livestock, the market includes ruminants, poultry, swine, and aquatic animals.
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Regional Insights
The fishmeal market in North America has grown due to high demand. Increased fish production, rising bacon usage, pig farming, and expanding pet food intake because of the growing trend of owning pets may be the main factors fueling the segment's rise. Products manufactured from fishmeal are frequently utilized as fertilizers and animal feed. To create fishmeal in the form of a cake or powder, the raw fish is first sliced and pressed, then dried and crushed. In addition to being a strong source of protein and a protein bypass for monogastric and ruminating animals, fishmeal offers a rich nutritional supply of phosphate and calcium in animal diets. Over the projection period, it is anticipated that the fishmeal market in Europe will expand significantly.
Due to the dominance of a sizable food sector and restaurant chains, the need for salmon fish feed in the fishmeal market would continue to increase. Due to growing per capita fish spending and expanding public understanding of the benefits of seafood, fishmeal sales will also keep rising. Additionally, its UK fishmeal market was the only one in Europe with the quickest growth rate, while the German fishmeal market had the largest market share. A rise in the demand for natural-origin protein additions in animal feed is expected to spur industry growth. Other reasons, including rising fish consumption, greater awareness of the advantages of fish meals, expanded aquaculture, and higher use of fishmeal, are projected to boost the fish meal market over the long term.
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