Fish Meal Market Size 2024, Share, Demand, Industry Trends 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 based on raw material, species, application and region.

Global Fish Meal Market Trends:  

Key trends in the global fish meal market include a growing emphasis on sustainability and environmental responsibility, driving the adoption of eco-friendly fishing practices and alternative protein sources. With increasing awareness of overfishing's detrimental impact on marine ecosystems, stricter regulatory measures and quotas are being implemented to mitigate environmental damage. Moreover, technological advancements in fish meal production are enhancing efficiency and sustainability, contributing to market growth. Additionally, the rising demand for high-quality animal feed, particularly in aquaculture and poultry industries, is fueling market expansion.

Furthermore, diversification in fish meal products and formulations, catering to various industry requirements and preferences, is observed. The market is also witnessing a shift towards value-added fish meal products with improved nutritional profiles. Furthermore, the globalization of trade and supply chains is facilitating market access and fostering competition among key players. Overall, the global fish meal market is poised for steady growth, driven by evolving consumer preferences, regulatory dynamics, and technological innovations aimed at sustainability and efficiency.

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Factors Affecting the Growth of the Fish Meal Industry: 

• Expansion in Aquaculture:

The fish meal market is witnessing significant growth, largely fueled by its increasing demand in both aquaculture and poultry industries. Fish meal is prized for its high protein content and essential amino acids, making it an ideal protein source in fish and shrimp feed, vital for the growth of aquatic species. Similarly, its inclusion in poultry feed enhances nutritional value, leading to improved poultry growth and health. With a rising global demand for fish and poultry products, propelled by health awareness and a growing preference for protein-rich diets, the demand for fish meal continues to surge. This trend underscores the pivotal role of fish meal as a key ingredient in animal feed, driving its widespread utilization across the globe.

• Growing Awareness of Nutritional Value and Feed Efficiency:

There is an increasing recognition of the nutritional value and feed efficiency provided by fish meal in animal diets. Fish meal is known for its high-quality protein content and essential nutrients, making it an indispensable component in animal feed formulations. Feed manufacturers and livestock producers prioritize the inclusion of fish meal in feed formulations to optimize animal growth, health, and performance. This awareness of the nutritional benefits and feed efficiency offered by fish meal drives its demand in the animal feed industry, supporting the growth of the fish meal market.

• Global Shift Towards Sustainable Feed Ingredients:
Environmental and sustainability concerns are driving a global shift towards sustainable feed ingredients, including fish meal. Heightened awareness among consumers and regulatory bodies regarding the environmental impacts of fish meal production has led to the adoption of stricter fishing regulations and quotas. Consequently, the industry is increasingly focusing on sustainable fishing practices and seeking alternative protein sources to address these concerns. This shift towards sustainability influences market dynamics, driving demand for more eco-friendly and less ecologically damaging sources of fish meal.

Fish Meal Market Report Segmentation:

Breakup by Raw Material:

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

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

Breakup by Species:

• Marine:
o Anchovy
o Sandeel
o Menhaden
o Sprat
o Others

• Trimming

On the basis of species, the market is divided into marine (Anchovy, Sandeel, Menhaden, Sprat, others) and trimming.

Breakup by Application:

• Aquaculture:
o Crustaceans
o Salmon and Trout
o Marine Fish
o Tilapias
o Others

• Swine:
• Poultry
• Others

Aquaculture represented the largest segment in the fish meal market, driven primarily by its extensive utilization in the preparation of aquafeeds due to its high-quality protein and essential nutrient quotient.

Breakup by Region:

• Peru
• Scandinavia:
o Denmark
o Norway
o Iceland

• China
• Thailand
• Chile
• United States
• Vietnam
• Japan
• Others

Peru dominates as the largest market for fish meal due to its extensive coastline and productive marine ecosystem.

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Competitive Landscape With Key Players:

The competitive landscape of the global 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

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.