Fish Meal Market Outlook 2024, Global Size, Growth Drivers and Forecast to 2032

According to IMARC Group, the global fish meal market is expected to exhibit a growth rate (CAGR) of 6.98% during 2024-2032. The report has segmented the market by type (whole fish, by-product from wild capture, by-product from aquaculture), species (marine, trimming), application (aquaculture, swine, poultry, and others), and region.

Global Fish Meal Market Trends:

A prominent trend in the global fish meal market is the increasing emphasis on sustainable sourcing and certification. Consumers and regulatory bodies are demanding transparency and responsible fishing practices. This has led to the rise of certifications like the Marine Stewardship Council (MSC), ensuring that fish meal is sourced from well-managed fisheries, thus appealing to environmentally-conscious consumers. The market is witnessing the exploration of alternative protein sources for aquaculture and animal feed, partly driven by concerns over overfishing. Innovations in plant-based and insect-based proteins are challenging traditional fish meal usage. Companies are investing in research to develop cost-effective and sustainable alternatives, potentially reshaping the market landscape.

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Factors Affecting the Growth of the Fish Meal Industry:

Increasing Demand for Aquaculture:

The global fish meal market is significantly driven by the rising demand for aquaculture, particularly in the production of fish and shrimp. As the world's population grows and dietary preferences shift toward seafood, aquaculture becomes a vital source of protein. Fish meal serves as a crucial ingredient in aquaculture feed, providing essential nutrients and aiding in the rapid growth of farmed fish. The expanding aquaculture sector, driven by health-conscious consumers seeking sustainable protein sources, fuels the demand for fish meal.

Growth in Animal Feed Industry:

The animal feed industry relies on fish meal as a high-quality protein source for livestock and poultry. With the increase in the global demand for meat and dairy products, the need for nutritious animal feed is also increasing, which is contributing to the market growth. Moreover, fish meal's nutritional profile, including its amino acid content and digestibility, makes it a preferred choice. This demand from the animal feed sector plays a pivotal role in driving the fish meal market toward growth.

Health Benefits and Nutritional Value:

Fish meal is prized for its nutritional value, containing essential amino acids, vitamins, and minerals. It therefore is often used in pet food, aquaculture, and livestock feed due to its ability to promote healthy growth and development, which is driving the market toward growth. As consumers become more health-conscious and seek premium pet and livestock nutrition, the demand for fish meal as an ingredient in these sectors grows. This, in turn, is contributing to the global fish meal market growth.

Fish Meal Market Report Segmentation:

By Raw Material:

Whole Fish
By-Product from Wild Capture
By-Product from Aquaculture

On the basis of raw material, the market has been segmented into whole fish, by-product from wild capture, by-product from aquaculture.

By Species:

Marine
Anchovy
Sandeel
Menhaden
Sprat
Others
Trimming

On the basis of species, the market has been segmented into Marine (Anchovy, Sandeel, Menhaden, Sprat, and Others) and Trimming.

By Application:

Aquaculture
Crustaceans
Salmon and Trout
Marine Fish
Tilapias
Others
Swine
Poultry
Others

Aquaculture is the largest segment in the fish meal market because it relies heavily on fish meal as a primary component in aquafeed.

Regional Insights:

Peru
Scandinavia
Denmark
Norway
Iceland
China
Thailand
Chile
United States
Vietnam
Japan
Others

Peru is the largest market in the fish meal industry due to its strategic geographical location along the nutrient-rich Humboldt Current and the country's well-established fish industry.

Competitive Landscape:

The competitive landscape of the fish meal market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Austral Group S.A.A
Copeinca
Corpesca S.A. (Empresas Copec S.A)
FF Skagen A/S
Omega Protein Corporation (Cooke Inc)
Pesquera Diamante S.A. (Diamond Fishing)
Pesquera Exalmar S.A.A
Pesquera Hayduk SA
Tasa
TripleNine Group

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Key Highlights of the Report:

Market Performance (2018-2023)
Market Outlook (2024-2032)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.