Fishmeal Market Growth Accelerates: Strategic Forecast Predicts $11.93 Billion by 2029

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What Will the Fishmeal Industry Market Size Be by 2025?
In the past few years, the fishmeal market has experienced robust growth. The market's valuation is expected to rise from $8.88 billion in 2024 to $9.42 billion in 2025, recording a compound annual growth rate (CAGR) of 6.2%. The significant growth recorded during the historic period is due to factors such as the escalating global requirement for aquaculture and animal feed, the expansion of livestock and poultry sectors, increased awareness about the dietary advantages of fishmeal, the rise in commercial fishing and processing activities, the need for high-protein and nutrient-dense animal feeds, and the growing demand for fishmeal in the pet food and specialty feed industries.

What's the Long-Term Growth Forecast for the Fishmeal Market Size Through 2029?
In the coming years, the fishmeal market is projected to experience substantial growth, reaching a market value of $11.93 billion by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 6.1%. Factors contributing to this growth include the increased use of fishmeal as a source of omega-3 fatty acids in functional foods, heightened emphasis on sustainable and ethical fishing practices, advancements in research and development of alternative protein sources for animal feed, the necessity for nutrient-rich feed in animal husbandry and farming, and the widening use of fishmeal in the nutraceutical and pharmaceutical sectors. The demand for organic and non-gmo certified fishmeal products is also on the rise. The projected trends for the forecast period emphasize improvements in processing technologies, amplifying focus on omega-3 fatty acids, fortification of animal feeds, advancements in fishmeal quality assurance, and the inclusion of bioactive compounds and functional additives.

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What Are the Key Growth Drivers Fueling the Fishmeal Market Expansion?
The surge in the aquaculture industry is anticipated to boost the fishmeal market's growth. Aquaculture, or the cultivation of fish, shellfish, and water plants like algae in fresh, salt, and brackish waters, serves various purposes such as providing food, repopulating endangered species, restoring natural fish stocks, and rehabilitating aquatic habitats. With the increasing consumption of seafood and declining quantity of wild fish caught annually, aquaculture is expected to see significant growth, thus fueling the demand for fishmeal. For example, the Food and Agriculture Organization of the United Nations, a US-based agency committed to ending hunger and enhancing nutrition and food security, reported in August 2022 that global fisheries and aquaculture production increased to 223.2 million tons in 2022. This included 185.4 million tons (live weight) of aquatic animals like fish, crustaceans, and mollusks such as mussels and squid, along with 37.8 million tons (wet weight) of algae. This rise in the aquaculture sector, therefore, is accelerating the demand for the fishmeal market.

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What Are the Key Trends Driving Fishmeal Market Growth?
As a major trend in the global fishmeal market, ground-breaking fishmeal products are gaining increased traction. In response to the escalating demand for innovative and nutritionally rich fishmeal for animals, leading companies in the fishmeal industry are launching new offerings. For example, in July 2022, Interpet, a UK company specializing in fish-keeping and aquarium care, introduced an innovative food for pond fish under the Blagdon brand called Blagdon Fit & Wild Pond Sticks. Made from insects and small crustaceans, these Pond Sticks are devoid of fishmeal and embrace protein-rich agents like mealworm meal, daphnia, bloodworms, and black soldier fly larvae which better replicate a fish's natural diet. The objective of this product is to furnish fish with the most nutritious and natural diet achievable, fostering their health and fitness.

How Is the Fishmeal Market Segmented?
The fishmeal market covered in this report is segmented -

1) By Livestock: Ruminants, Poultry, Swine, Aquatic Animals, Other Livestock
2) By Source: Salmon and Trout, Marine Fish, Carps, Crustaceans, Tilapia, Other Sources
3) By Application: Fertilizers, Animal Feed, Other Applications

Subsegments:
1) By Ruminants: Beef Cattle, Dairy Cattle
2) By Poultry: Broilers, Layers, Turkeys
3) By Swine: Weaner Pigs, Grower-Finisher Pigs
4) By Aquatic Animals: Farmed Fish, Shrimp And Other Shellfish
5) By Other Livestock: Goats, Sheep, Horses

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Which Companies Are Leading the Charge in Fishmeal Market Innovation?
Major companies operating 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, Pesquera Diamante S.A., Pesquera Exalmar S.A.A, Pesquera Hayduk SA, FF Skagen A/S, Pelagia AS, Orizon SA, Sardina D.O.O, Austral Group S.A.A, Corporacion Pesquera Inca S.A.C. Copeinca S.A.C., Croda International PLC, TASA Pvt. Ltd., Corpesca SA, Colpex International S.A., Triplenine Group A/S, Pescanova SA, Pilmifresh S.A.

Which Regions Are Leading the Global Fishmeal Market in Revenue?
Asia-Pacific was the largest region in the fishmeal market in 2024. The regions covered in the fishmeal market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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