Press release
The Fishmeal & Fish Oil Market is projected to reach $20.42 billion by 2032, growing at a CAGR of 4.60%.
Fishmeal & Fish Oil Market
Market Overview
Fishmeal and fish oil are types of digestible forms of protein that act as feed for fish and various other marine organisms that are bred for human consumption. Fishmeal consists mostly of fish protein, followed by ash and fish oil. Fish meal is prepared by crushing, drying, and powdering fresh raw fish. Fish oil is obtained from the fatty tissues of fish. Fish oil contains a high amount of omega-3 fatty acids, which enhances the health of the organism it is fed to. The refined version of fish oil is used as a diet for humans, such as cod liver oil. Both fish oil and fishmeal are fed to livestock as well as aquatic consumable organisms. The main sources of fish for fishmeal and fish oil are anchovies and mackerel.
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Growth Drivers
• In order to supply fish harvested for consumption by humans and feed livestock such as poultry, fishmeal, and fish oil have gained traction as the perfect option for nutrient-rich and easily digestible feed. It also makes for easier storage and feeding as they come in the form of powder and cakes.
• Being rich in omega-3 fatty acids, it is used as diet as well as converted into liquid formulations in the form of nutraceuticals in order to enhance the health of the organism it is fed to.
Major Participants
Due to the host of benefits offered by fishmeal and fish oil, it has helped in spreading awareness about the importance of incorporating fishmeal and fish oil in the feeding of livestock. The major fishmeal & fish oil market key players are:
• FKS Multi Agro
• Mukka Proteins
• Sandakan Fishmeal
• Raj Fishmeal
• Asia Fish Oil
• Pattani Fish Meal
• Austevoll Seafood
• Scoular Company
• Croda International
• Oceana Group
• Omega Protein
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Fishmeal & Fish Oil Market Report Highlights
• Crustaceans segment is projected to grow during the anticipated period, on account of rise in the adoption of product as a dietary protein source in various fishmeal products
• Aquatic animals segment accounted for highest market share in 2022, which is mainly driven high prevalence for the incorporation of aquatic animals into fish related diets
• Pharma segment anticipated to gain substantial market share over the forecast period, that is mainly due to increased awareness and popularity of healthy lifestyle and nutrition consumption
• North America region dominated the global market in 2022, owing to rising focus on major players on technological advancements and rise in the consumer spending capacity on protein-rich dietary foods in the region
Segmental Analysis
• The fishmeal & fish oil market is segmented based on the source, livestock, industrial application and region.
• Based on source, the market is segmented into salmon & trout, maine fish, crustaceans, tilapia, carps and others. The crustaceans segment is projected to grow at a higher CAGR during the anticipated period, driven by the increasing number of crustaceans applications in fishmeal & fish oil products.
• Based on livestock, aquatic animals held major global market share due to the growing incorporation of fish oil into the diets of numerous water animals.
Fishmeal & Fish Oil Market, Source Outlook (Revenue - USD Billion, 2019-2032)
• Salmon & Trout
• Maine Fish
• Crustaceans
• Tilapia
• Carps
• Other Source
Fishmeal & Fish Oil Market, Livestock Outlook (Revenue - USD Billion, 2019-2032)
• Aquatic Animals
• Swine
• Poultry
• Cattle
• Pets
Fishmeal & Fish Oil Market, Industrial Application Outlook (Revenue - USD Billion, 2019-2032)
• Fertilizers
• Aquaculture
• Pharma
Regional Overview
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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