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Global Fishmeal Market: Booming Aquaculture Industry Fuels Growth, CAGR of 6.1% Expected Till 2029
Global Fishmeal Market
What Is The Projected Market Size Of The Global Fishmeal Market And Its Growth Rate?
• The fishmeal market has grown strongly in recent years. In 2024, it was valued at $8.88 billion, and it is expected to reach $9.42 billion in 2025. This represents a compound annual growth rate (CAGR) of 6.2%.
• The growth can be attributed to an increased global demand for aquaculture and animal feed, along with the growth of livestock and poultry industries.
• The fishmeal market size is expected to see strong growth in the next few years, projected to reach $11.93 billion in 2029 at a CAGR of 6.1%.
• The forecasted growth can be attributed to the adoption of fishmeal as a source of omega-3 fatty acids in functional foods, sustainable and responsible fishing practices, and research & development in alternative protein sources for animal feed to name a few.
What Is Driving The Growth In The Fishmeal Market?
The growth of the aquaculture industry is poised to propel the fishmeal market forward. Aquaculture, which involves the harvesting of fish, shellfish, and aquatic plants in diverse water bodies, aims to deliver food, restore habitats of water-based species, and replenish natural stocks. With seafood demand soaring and catches from wild fish decreasing each year, aquaculture is likely to experience considerable growth, thereby fueling the demand for the fishmeal market.
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Who Are The Key Players Driving Fishmeal Market Growth?
The key players in the fishmeal market include:
• Aker Biomarine Antarctic AS
• Alpha Atlantique
• Animalfeeds International Corporation
• Austevoll Seafood ASA
• Biomega AS
• Oceana Group Limited
• Omega Protein Corporation
• Pioneer Fishing (Pty) Ltd.
• Sarma Fish S.A.R.L
What Are The Key Trends In The Fishmeal Market?
The key trends in the fishmeal market include:
• Adoption of advanced processing technologies
• Focus on omega-3 fatty acids
• Fortification of animal feeds
• Innovations in fishmeal quality assurance
• Presence of bioactive compounds and functional additives
What Are The Segments Of The Global Fishmeal Market?
The fishmeal market is segmented by:
1) Livestock: Ruminants, Poultry, Swine, Aquatic Animals, Other Livestock
2) Source: Salmon and Trout, Marine Fish, Carps, Crustaceans, Tilapia, Other Sources
3) Application: Fertilizers, Animal Feed, Other Applications
Which Region Leads The Fishmeal Market?
Asia-Pacific was the largest region in the fishmeal market in 2024. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What Is Covered In The Fishmeal Market Global Market Report?
- Market Size Analysis: Analyze the Fishmeal Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Fishmeal Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Fishmeal Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Fishmeal Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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