Growing Use Adoption To Fuel Sales of Fish Meal Market During Forecast Period 2022 - 2031 : Fact.MR

According to a new report published by Fact.MR, a market research and competitive intelligence provider, demand for fish meal is expected to reach a valuation of US$ 8.7 Bn by 2031, rising at a CAGR of around 6.3%.

Increase in handling, management, and processing of marine products has become an environmental issue. It has led to an increase in the production of marine by-products. Originally discarded, these by-products have been found in fish feed treatments now. In the composition of fish meal, the proportion of marine by-products has increased. Use of marine by-products is increasingly common and is also cost-effective as compared to whole fish.

Majority of commercial fish meal is made from marine by-products that are unfit for human consumption. Addition of fish meal to animal diets imparts feed efficiency and animal growth by improving digestion and absorption. The balanced amino acid profile of fish meal complements other animal and vegetable proteins in animal feed to promote rapid growth and reduce feeding costs. It also aids in disease resistance by building and maintaining a healthy, functional immune system.

High-quality fish meal in aquaculture feed helps reduce contamination from wastewater effluents by increasing nutrient digestion. All these factors are expected to facilitate fish meal market expansion over the coming years.

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Market Segments Covered in Fish Meal Industry Research

• By Nature
Organic Fish Meal
Conventional Fish Meal
By Application
Fish Meal for Animal Feed
Fish Meal for Aqua Feed
Fish Meal for Poultry
Fish Meal for Pharmaceuticals
Fish Meal for Supplements
Fish Meal for Fertilizers

• By Product Type
Crustaceans
Crabs
Lobsters
Crayfish
Shrimps
Prawns
Krill
Woodlice
Barnacles
Cyprinids
Tuna
Tilapia
Swordfish
Salmons
Milkfish
Catfish
Trout
Marine Fish
Eels
Mollusos

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Key Takeaways from Market Study

• The United States is expected to have more than 87% of the North American market share in 2021, owing to growing consumption of seafood products.

• According to Fact.MR analysis, China will account for roughly 43% of the East Asia market share in 2021, fueled by increased demand from the aqua feed and animal feed industries.

• Germany is one of Europe's most important markets, with a market share of 23.8% in 2021, owing to rising demand from the supplement industry.

• Aqua feed currently accounts for approximately 37.7% of the market due to its high nutritional value and greater customer awareness.

• Because of considerable demand from the pharmaceutical business, crustaceans account for approximately 20.5% of the market.

Increasing Demand for Protein, Unsaturated Fats, and Essential Nutrients Augmenting Market Growth

Over the coming years, with expanding interest for protein, polyunsaturated fats such as omega-3 unsaturated fats, and different supplements, items got from marine results could be utilized as a favoured wellspring of protein and omega-3. Besides, marine side-effects are a significant item for financially immature nations, which require an economical wellspring of creature protein for human utilization to handle ailing health.

Who is Winning?

Key market players are focusing on reaching a larger consumer base by targeting emerging countries such as India, China, and Brazil.

Some of the leading companies offering fish meal are Omega Protein Corporation, Orizon SA, FF Skagen A/S, Pesquera Diamante S.A., BiOmega AS, Animal Feeds International Corporation, and Pesquera Hayduk SA.

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This release was published on openPR.