Fishmeal Market Projected to Reach USD 15,000 Million by 2032, Exhibiting a Robust CAGR of 7.7%: Growing Aquaculture Industry and Nutritional Benefits of Fishmeal Drive Global Demand and Industry Expansion

The fish meal market is expected to be worth US$ 8,000 million in 2022 and to develop at an unprecedented rate to reach USD 15,000 million by 2032, with a CAGR of 7.7% over the assessment period.

Fishmeal and fish oil production are expected to develop moderately in the coming years as a result of improved by-product utilisation and a burgeoning aquaculture industry.

The Fishmeal market is evolving significantly, driven by factors that underscore its importance in various industries. As demand continues to rise, the market's trajectory towards 2032 reflects its crucial role in supporting sectors reliant on its unique properties. This growth highlights Fishmeal's substantial impact on diverse applications and markets.

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Because of their rarity, fishmeal and fish oil will be used more frequently as strategic ingredients at lower percentages and for specific stages of production.

A variety of factors can have an impact on the development and dynamics of worldwide markets for fish oil and fishmeal. Weather and environment, fishing management, trade rules, and so forth are examples of extrinsic variables.

Key Takeaways from the Fishmeal & Fish Oil Market

The fishmeal and fish oil market were dominated by salmon and trout and is expected to grow at a CAGR of 5.6% by 2033. This is because salmon oil is high in the omega-3 fats DHA and EPA. Consuming omega-3 fatty acids from salmon oil has been linked to a number of health benefits.
Pharmaceutical sector will register a growth of 5.4% and lead the application segment. Pharmaceutical industry will be highly benefitted from the fish oil and fish feed market owing to growing trend of fish-based supplementation and high adoptability of fish by-products in medical sector.
The U.S. to contribute a whooping US$ 4.6 billion by 2033 in the global market. Favorable policies and the thriving marine industry are the key reason driving the market in the region.
The U.K. is witnessing a growth of 4.9% in the fish oil and fish feed market. The growing concern and awareness on animal nutrition and well being is the key factor behind this significant growth of the region.
China is the most lucrative region among all growing at an astonishing rate of 5.2%. China is the top consumer of fish and fish products among other regions. Growing awareness on cardiac issues is promoting the adoption of fish oil among population.
Asia Pacific is likely to be the dominant region for the market till the end of the forecast period.
Latest Developments

In April 2022, Evolve Supplements initiated its online store for aiding in the buying process for consumers.

In April 2022, Trident Seafoods came out with its Omega 3 food for dogs. They forayed into the pet food market with this initiative.

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Key Segments Fish meal & Fish Oil Market

-Source:

-Salmon & Trout
-Marine Fish
-Crustaceans
-Tilapia
-Carps
-Application:

-Aquaculture & Aquatic Feeds
-Land Animal Feeds and Livestock
-Agriculture and Fertilizers
-Pharmaceuticals
-Dietary Supplements
-By Region:

-North America
-Latin America
-Western Europe
-Eastern Europe
-Asia Pacific excluding Japan (APEJ)
-Japan
-The Middle East & Africa (MEA)

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.