Global Fishmeal & Fish Oil Market 2024: Latest Research, Industry Insights, Emerging Opportunities, and Future Outlook by 2033

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Fishmeal & Fish Oil Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The fishmeal & fish oil market size has grown strongly in recent years. It will grow from $9.63 billion in 2023 to $10.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increase in global fish consumption, nutritional benefits in animal feed, globalization of seafood trade, development of sustainable fishing practices, fishery by-product utilization..

The fishmeal & fish oil market size is expected to see strong growth in the next few years. It will grow to $13.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to continued growth in aquaculture, rising demand for nutraceuticals, innovation in alternative protein sources, increasing prevalence of hairfall, regulatory standards and certifications.. Major trends in the forecast period include technological advances in processing, research on nutritional requirements, development of algal-based omega-3 products, integration of traceability systems, advancements in sustainable feed formulations..

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Key Market Players:

Major companies operating in the fishmeal & fish oil market report are FMC Corporation, Austevoll Seafood ASA, Croda International plc, Oceana Group Ltd., Omega Protein Corporation, The Scoular Company, GC Rieber Oils AS, Sürsan Su Ürünleri, TASA - Tecnologica de Alimentos SA, Corpesca SA, FF Skagen A/S, Orizon SA, Pioneer Fishing (Pty) Ltd., TripleNine Group A/S, Pesquera Exalmar SAA, Complex International SAS, Mukka Sea Food Industries, BASF SE, Pelagia AS, Diamante SA, HAYDUK Corporation, Coomarpes SA, Animal Feeds International Corporation, Kodiak Fishmeal Company, African Pioneer Group, Copeinca ASA, Rongcheng Blue Ocean Marine Bioengineering Co. Ltd., KT Group Ltd., Blue Gulf Seafoods Co. Ltd., Havsbrún ehf, China Fishery Group Limited

Market Drivers:

The increasing health consciousness among people is expected to boost the fish meal and fish oil market. Health consciousness is a measure of how much people care about their health. There is an increase in concern about health in people due to changing lifestyles. Fish is a high-quality, low-fat protein. Omega-3 fatty acids and vitamins D and B2 are abundant in fish (riboflavin). A healthy diet should include fish at least twice a week, due to which the demand for fish meals and fish oil is increasing. For instance, in October 2022, according to SWNS, a UK-based news agency company, A poll by Nutrisystem and OnePoll found that over 70% of Americans are more conscious of their physical health post the COVID pandemic. Therefore, the increasing health consciousness among people is driving the growth of the fish meal & fish oil market.

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The fishmeal & fish oil market covered in this report is segmented -

1) By Type: Steam Dried (SD), Flame Dried (FD)
2) By Source: Salmon And Trout, Marine Fish, Crustaceans, Tilapia, Carps, Other Sources
3) By Application: Aquaculture And Aquatic Feeds, Land Animal Feeds And Livestock, Agriculture And Fertilizers, Pharmaceuticals, Dietary Supplements, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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