Press release
Fishmeal & Fish Oil Market Poised for 7 % Growth, Set to Hit $14.62 Billion by 2029
Fishmeal & Fish Oil Market
The escalating awareness about health among individuals is anticipated to propel the fish meal and fish oil industry's growth. Health consciousness indicates the level of individuals' concern for their well-being. A rise in health precautions is observed due to evolving lifestyles. Fish, being a superior, lean protein source, is abundant with essential omega-3 fatty acids and vitamins D and B2 (riboflavin). For a balanced diet, the consumption of fish should be incorporated at least twice a week, which increases the demand for fish meals and fish oil. As an illustration, a survey conducted by Nutrisystem and OnePoll in October 2022, reported by SWNS, a news agency company from the UK, unveiled that post the COVID pandemic, over 70% of Americans are more attentive towards their physical health. Hence, the escalating health consciousness among individuals stimulates the expansion of the fish meal & fish oil market.
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What is the projected compound annual growth rate (CAGR) of the fishmeal & fish oil market from 2025 to 2034, and what factors influence it?
The market for fishmeal and fish oil has seen significant expansion in the recent past. Its size is predicted to increase from $10.33 billion in 2024 to $11.09 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth throughout the historic period include the rise in worldwide fish consumption, the recognized nutritional benefits in animal feed, the global expansion of seafood trade, the establishment of eco-friendly fishing methods, and the utilization of fishery by-products.
In the coming years, the fishmeal and fish oil market is anticipated to experience robust expansion. Its market worth is projected to accelerate to $14.62 billion in 2029 with a CAGR of 7.2%. The market growth during the forecast period is expected to be driven by several factors. This includes continuous expansion in aquaculture, escalating demand for nutraceuticals, innovations in alternative protein sources, surging instances of hair fall, and the presence of stringent regulatory standards and certifications. Technological advancements in processing, research focused on nutritional needs, development of algal-based omega-3 products, implementation of traceability systems, and progress in sustainable feed formulations are predicted to be major trends during the forecasted timeline.
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How are the latest trends influencing the growth of the fishmeal & fish oil market?
The trend of forming strategic alliances is a significant trend in the fishmeal and fish oil market. To utilize each other's resources and maintain their market positions, leading companies are forming partnerships. For example, Algorithm, a US-based firm that offers omega-3 solutions, established a partnership with Natures Crops International, a US-based specialty plant oils manufacturer, in October 2022. As a result of this collaboration, the companies developed two unique omega oil combinations for use in supplements, food, and beverages. These innovative combinations, known as Ahiflower 80DHA and 150DHA, are the sole vegan sources of omegas that deliver a wide variety of omegas with outstanding sensory attributes. The primary goal of this partnership is to provide an array of pollock fish products and promotion campaigns in their respective markets.
What are the major segments of the fishmeal & fish oil market and their role in driving growth?
The fishmeal & fish oil market covered in this report is segmented -
1) By Type: Steam Dried (SD), Flame Dried (FD)
2) By Source: Salmon And Trout, Marine Fish, Crustaceans, Tilapia, Carps, Other Sources
3) By Application: Aquaculture And Aquatic Feeds, Land Animal Feeds And Livestock, Agriculture And Fertilizers, Pharmaceuticals, Dietary Supplements, Other Applications
Subsegments:
1) By Steam Dried (SD): High-Protein Fishmeal, Regular Fishmeal
2) By Flame Dried (FD): High-Temperature Fishmeal, Specialty Fishmeal
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Which regions are key players in the growth of the fishmeal & fish oil market?
Asia-Pacific was the largest region in the fishmeal and fish oil market share in 2024. The regions covered in the fishmeal & fish oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the fishmeal & fish oil market?
Major companies operating in the fishmeal & fish oil market are Austevoll Seafood ASA, Oceana Group Ltd., Omega Protein Corporation, The Scoular Company, GC Rieber Oils AS, Sürsan Su Ürünleri, TASA - Tecnologica de Alimentos SA, Corpesca SA, FF Skagen A/S, Orizon SA, Pioneer Fishing (Pty) Ltd., TripleNine Group A/S, Pesquera Exalmar SAA, Mukka Sea Food Industries, Pelagia AS, HAYDUK Corporation, Coomarpes SA, Kodiak Fishmeal Company, Copeinca ASA, Havsbrún ehf
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What Is Covered In The Fishmeal & Fish Oil Global Market Report?
• Market Size Forecast: Examine the fishmeal & fish oil market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the fishmeal & fish oil market for a structured understanding.
• Key Players Overview: Analyze major players in the fishmeal & fish oil market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fishmeal & fish oil market.
• Segment Contributions: Evaluate how different segments drive overall growth in the fishmeal & fish oil market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fishmeal & fish oil market.
• Industry Challenges: Identify potential risks and obstacles affecting the fishmeal & fish oil market.
• Competitive Landscape: Review strategic developments in the fishmeal & fish oil market, including expansions, agreements, and new product launches.
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