Factors Driving the Fishmeal & Fish Oil Market | Key Players are FMC Corporation, Austevoll Seafood ASA, Croda International Plc, Oceana Group Limited, Omega Protein Corporation, Marvesa

The fishmeal & fish oil market is estimated at USD 9,500.99 million in 2017 and is projected to reach USD 14,288.46 billion by 2022, growing at a CAGR of 8.5% during the forecast period. The global fishmeal & fish oil market is projected to grow due to factors such as rising use of fishmeal & fish oil in swine and poultry diets and improving productivity and performance of aquaculture.

Salmon & trout are a widely used source of fishmeal & fish oil with a value of USD 2,362.5 million in 2016. This is due to the reason that salmon & trout fish farmers have increased their salmon cultivation to satisfy the growing demand of customers globally. Moreover, fishmeal is used in salmon & trout feed as one of the important ingredients that help to provide essential nutritional supplements to the fish.

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Aquatic animals segment dominated the fishmeal & fish oil market

The use of fishmeal & fish oil is more in aquafeed due to their nutrient contents such as amino acids, essential fatty acids, and energy content. Also, supplementing aquaculture feed with fishmeal & fish oil effectively returns more sustainable non-food products back into the human food chain.

Pharmaceuticals is projected to be the fastest-growing segment in the fishmeal & fish oil market, by industrial application

The use of fishmeal & fish oil in the pharmaceutical industry is increasing due to their health benefits. Also, the rising concerns of chronic diseases among consumers results in increasing awareness about fish oil with Omega-3 in various health supplements and functional foods.

Increased consumption of seafood and flexibility in using secondary raw materials key to success in the European region

High growth has been observed in Europe for the fishmeal & fish oil market over the last few years. The main reason for this growth is the increasing demand for fishmeal & fish oil due to increased demand for fish-based food. The leading companies in Europe are focusing on launching new products for expansion of their business in local and international markets. In addition, the EU imports a wide variety of aquaculture species and products. Norway and Germany constituted the largest country-level markets in the European region in 2016.

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This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include FMC Corporation (U.S.), Austevoll Seafood ASA (Norway), Croda International Plc (U.K.), Oceana Group Limited (South Africa), and Omega Protein Corporation (U.S.); these are well-established and financially stable players that have been operating in the industry for several years. Other players include S�rsan (Turkey), The Scoular Company (U.S.), GC Rieber Oils (Norway), Marvesa (The Netherlands), and TASA (Peru).

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