Fishmeal Market is expected to grow at 5.2% CAGR During 2017-2027
These various facets have been analysed across key regions in the globe including North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA) to gauge the intensities of these facets and their impact on the overall market expansion. Based on historical data and current scenario, future insights on the market based on value and volume projections for a period of ten years have been included in this research report across each segment of the global fishmeal market.
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Global Fishmeal Market: Forecast Highlights
As per the analytical research report on fishmeal market, the global market is anticipated to grow at a steady pace to reach a significant valuation by the end of the period of forecast. During 2017-2027, this market is expected to grow at 5.2% CAGR to reach a value of about US$ 10 Bn by the end of the assessment year from a value of around US$ 6 Bn in 2017.
Global Fishmeal Market: Segmental Analysis
The global fishmeal market is segmented by application, by use and by region.
By application, the animal feed segment is anticipated to radiate high market attractiveness and is projected to register a high CAGR of more than 5.0% during the period of forecast to reach a high valuation of about US$ 9.6 Bn by 2027 end. This segment is likely to show dominance over the forecast period in the global market
By region, the fishmeal market in Western Europe is anticipated to grow at a noteworthy pace to reach a high valuation by the end of the forecast period, thus leading the market in the coming years. Asia Pacific excluding Japan (APEJ) region also shows high potential and the fishmeal market in APEJ is projected to grow at a higher value CAGR of 5.8% during the period of forecast
By end use, the aquaculture segment is the largest as it reflects higher market value of around US$ 4.2 Bn in 2017 and dominates the global market
Global Fishmeal Market: Dynamics
The research report covers drivers as well as restraints that govern the growth of the global market. Factors like rising demand for naturally sourced protein additives in animal feed, booming aquaculture industry, increasing product innovations coupled with expanding research and development in the market, rising feed industry, rising demand for fishmeal among new, superior and carnivorous fish species, expanding promotion facilities and launch of promotional campaigns, extensive salmon aquaculture farming, rising demand for high quality and healthy pet food, increased demand for meat owing to increased tourism activities across the globe, rising number of people opting for non-vegetarian dishes and increased consumption of fish as a major dish are triggering the growth of the global fishmeal market. High price fluctuations, increasing substitutes of fishmeal products and overfishing that has caused decline in production are posing challenges to the growth of the global fishmeal market.
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Global Fishmeal Market: Competitive Scenario
Research report on global fishmeal market has included profiles of some key players such as Oceana Group Limited S.A., TriplenineGroup A/S, EmpresasCopecS.A., Pesquera Diamante S.A., Pesquera Hayduk S.A., Ff Skagen A/S, Austevoll Seafood ASA, Biomega AS, Sardina D.O.O., Sarma Fish S.A.R.L, Pioneer Fishing Pty Ltd., Aker BioMarine Antarctic AS, TASA, Omega Protein Corporation, The Scoular Company, Calysta, Inc., Unibio A/S, Novus International Inc., Animalfeeds International Corporation and Alpha Atlantique in the competitive analysis section of the research report.
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