Press release
Fishmeal and Fish Oil Market Size, Share and Growth Report 2024-2032
Fishmeal and fish oil are derived from wild-caught and farmed fish species and processed to extract nutrients vital for the growth of aquaculture species, poultry, and swine, as well as for human consumption in the form of dietary supplements. The increasing awareness about the health benefits associated with omega-3 fatty acids, such as improved heart health and cognitive function, is a significant driver for the fish oil market. Concurrently, fishmeal's high protein content makes it an indispensable ingredient in animal feeds, promoting growth and health in aquaculture and livestock farming.
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The surge in aquaculture activities globally is a key factor propelling the demand for fishmeal and fish oil. With the depletion of wild fish stocks and the growing consumption of seafood, aquaculture has emerged as a sustainable alternative to meet global food demand. This shift has directly influenced the market, driving its growth due to the essential role these ingredients play in aquafeed formulations. This is one of the key global fishmeal and fish oil market trends.
Moreover, the human dietary supplements sector has seen a significant uptick in demand for fish oil, attributed to its rich omega-3 fatty acid content. The increasing consumer focus on wellness and preventive healthcare measures has led to a higher intake of omega-3 supplements, further fuelling the market expansion.
The global fishmeal and fish oil market is also witnessing the impact of technological advancements in aquaculture practices. Precision aquaculture, which employs technologies such as IoT, AI, and remote sensing, is enabling producers to optimise feed usage, improve fish health and growth rates, and reduce environmental impact. These advancements are critical in enhancing the efficiency of fish farming operations, leading to more sustainable production of fishmeal and fish oil.
The diversification of fishmeal and fish oil applications beyond traditional sectors into industries such as pharmaceuticals, cosmetics, and biofuels is also contributing to market growth. In pharmaceuticals, fish oil's anti-inflammatory properties are being leveraged in the development of medications for chronic diseases.
Meanwhile, the cosmetics industry is utilising fish oil for its skin health benefits, and ongoing research into biofuels explores fish oil as a potential renewable energy source. This is expected to increase the demand for fish oils and contribute to the global fishmeal and fish oil market growth.
However, the market faces challenges concerning sustainable sourcing and environmental impact. Overfishing and the environmental footprint of fish farming are pressing concerns that the industry is striving to address through more sustainable practices and innovations in aquafeed formulations, such as the inclusion of alternative protein sources.
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The global landscape of the fishmeal and fish oil market is characterised by its vast geographical spread, with significant production in regions rich in fishing resources like South America (Peru, Chile), Northern Europe (Norway, Iceland), and Asia (China, Vietnam). The strategic positioning of processing facilities in these regions is crucial for leveraging local fish stocks while minimising environmental impact. This is expected to drive the global fishmeal and fish oil market growth.
In conclusion, the market is set on a trajectory of sustained growth, driven by the increasing demand for protein-rich and omega-3-laden products across various industries. While challenges remain in terms of sustainability and environmental conservation, ongoing innovations and a shift towards more eco-friendly practices are paving the way for a resilient and flourishing market landscape in the coming years.
Fishmeal and Fish Oil Market Segmentation
The market can be divided based on type, species, application, and region.
Market Breakup by Type
Fish Meal
Fish Oil
Market Breakup by Species
Salmon and Trout
Crustaceans
Marine fish
Carps
Tilapias
Others
Market Breakup by Application
Poultry
Swine
Aquatic Animal
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global fishmeal and fish oil market. Some of the major players explored in the report by Expert Market Research are as follows:
FF SKAGEN A/S
Sürsan A.Åž
GC Rieber VivoMega AS
The Scoular Company
Omega Protein Corporation
Oceana Group Limited
Pelagia AS
Diamond Aqua Fishes Meal
Corporación Pesquera Inca S.A.C.
Colpex International S.A.C.
Others
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