Global Fishmeal Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of 8.6% during the forecast period.
Global Fishmeal Market
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Fishmeal Market: Overview
Fish meal is prepared mainly from the bones and organ meat leftover from fish. Fishmeal is obtained in cake or powdered form after raw fish or trimmed fish is dried and milled.
Global Fishmeal Market: Dynamics
Fishmeal contains high amounts of necessary amino acids and protein, which can be effortlessly digested by the livestock, including aquatic animals. Also, it contains an abundant amount of fatty acids and other minerals, which are necessary for the growth of many livestock. These factors are motivating the growth of the global fishmeal market in the future. Fishmeal is used as a fertilizer owing to its rich content of organic nitrogen, which helps in plants growth at a faster rate, and is expected to fuel the growth of the global fishmeal market. Likewise, there is a high demand for protein additives in animal feed which is expected to drive the global fishmeal market.
Fishmeal offers several benefits for aquatic animals, like improved disease immunity, enriched survival & development, and reduced occurrences of deformities. The significant growth of the aquaculture industry in the future is also boosting the fishmeal industry. All over the world, the number of aquacultures is increasing, and hence the demand for fishmeal is on the rise. Peru, China, Thailand, Vietnam, the US, Chile, Japan, Denmark, India, Norway, Ecuador, Morocco, Russia, Iceland, and Malaysia are the main countries that have encouraged the demand for fish meals.
On the other hand, the high-cost fluctuations, and the increase in the several replacements for fishmeal may hamper the growth of the global fishmeal market.
Global Fishmeal Market: Segment Analysis
By Source, salmon & trout farmers have long-drawn-out their production of salmon to meet the growing demand of customers as it is a usually used source of fishmeal. Also, the fish and seafood industry are at a vigorous stage of development, where big market players and government fisheries join hands with moderate inter- and intra-regional fishing farms, resulting in an excellent demand loop on the aquatic feed additive market. Similarly, rising demand for diverse health supplements for both infants and adult customers will catalyze demand for human-made palatable fishmeal improvement and incorporate omega-3 supplements.
Global Fishmeal Market: Regional Analysis
Asia-Pacific is expected to hold the largest market share of the global fishmeal market by 2027 and grow with the highest CAGR in the future, thanks to increasing livestock raising activities. Also, the commercialization of aquaculture activities in many countries, such as India, Indonesia, Thailand, Vietnam, and Japan are expected to fuel the growth of the fishmeal market in the Asia-Pacific region.
North America is expected to gain the largest market share in the global fishmeal market by 2027, because of increasing demand for protein extracts in the feed. Additionally, the shift from red meat to other sources of meat in North American region is projected to fuel the growth of the fishmeal market.
The objective of the report is to present a comprehensive analysis of the Global Fishmeal Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Fishmeal Market dynamics, structure by analyzing the market segments and project the Global Fishmeal Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Fishmeal Market make the report investor’s guide.
Scope of the Global Fishmeal Market
Global Fishmeal Market, By Source
- Salmon & Trout
- Marine Fish
Global Fishmeal Market, By Livestock
- Aquatic Animals
Global Fishmeal Market, By Application
- Animal Feed
Global Fishmeal Market, By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in the Global Fishmeal Market
- Croda International Plc.
- Empresas Copec S.A.
- Biomega AS
- Oceana Group Limited
- Omega Protein Corporation
- FMC Corporation
- Austevoll Seafood ASA
- Calysta, Inc.
- Pioneer Fishing (Pty), Ltd.
- The Scoular Company
- Aker Biomarine Antarctic AS
- Sarma Fish S.A.R.L
- Animalfeeds International Corporation
- Alpha Atlantique
- Novus International Inc.
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