Europe Fishmeal and Fish Oil Market Will Generate Record Revenue by 2029

Europe fishmeal and fish oil market is anticipated to grow at a CAGR of 4.6% during the forecast period. In Europe, fish oil is largely used in both animal and human consumption applications. The rising health awareness among consumer leads to the use of fish oil, Omega-3 fatty acid in pharmaceutical and nutraceutical supplements. Moreover, fish oil is used as animal nutrition supplement in the countries like Germany, Belgium, and Norway. UK and Denmark are among the leading aquaculture producer across the globe. Therefore, the rising aquaculture industry in these countries drives the consumption of fishmeal and fish oil.

Further, the collective European aquaculture industry produces wide variety of finfish and shellfish species, for consumption, ornamental trade and restocking fisheries. Salmon and Trout fish dominates the European aquaculture, representing over half of the production both in volume and value, Moreover, increase in technology development in UK has ensured that aquaculture remains sustainable and has minimal environmental impacts. In addition, developments like on-land recirculating aquaculture systems, aquaponic systems, offshore systems and the use of information technology has boosted the aquaculture industry in Europe which also resulted in the growth of the fishmeal and fish oil market.

The fishmeal and fish oil market is segmented based on source and application. Based on source, the market is segmented into salmon & trout, crustaceans, marine fish, carps, and others. Based on application, the market is segmented into cattle, poultry, swine, aquaculture, pet, and other. Among application, aquaculture segment is expected to have a major market value share as well as substantial growth rate, during the forecast period. The rising demand for fishmeal and fish oil in aquaculture is attributed to its high production and high protein yield. Therefore, the consumption of fish oil-based feed in aquaculture increases with the growth of the aquaculture industry.

Country-wise, the market is analyzed based on the UK, Germany, France, Italy, Spain, Denmark and Rest of Europe. The leading European countries in the production and consumption of fish are Denmark, Belgium, Norway, UK and Germany. In Europe, fish oil is used for both animal and human nutrition application. Denmark is the largest fish oil producers in Europe followed by Belgium and Norway.

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Europe Fishmeal and Fish Oil Industry Market Segmentation

By Source

· Salmon & Trout

· Crustaceans

· Marine Fish

· Carps

· Others (Tilapias, Eels, Crabs, and Lobsters)

By Application

· Swine

· Poultry

· Cattle

· Aquaculture

· Pets

· Other (Equine and Other Marine Species)

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Regional Analysis

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Company Profiles

· BASF SE

· Croda International PLC

· FF Skagen

· GC Rieber Oils

· Oceana Group Ltd.

· Omega Protein Corp.

· Pelagia

· Royal DSM

· Sürsan A.?

· The Scoular Co.

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