Market Overview
Fishmeal products are products made from fish and used as fertilizers and feeds. The fishmeal is considered a high-quality protein and bypass protein for monogastric and ruminants. It is a good nutritional source of calcium and phosphorus. It is derived from any seafood and produced from small marine fishes carrying high content of oils and bones.
Fish meal has been a major component in the fertilizer industry and aquaculture due to its high protein content. It is a source of Omega3, minerals, and fatty acids. The Fishmeal Market will notice exponential growth due to the rise in the consumption of animal rearings like poultry and pig farms and aquaculture. Fishmeal is a source of nutrition and protein to improve productivity and quality.
The growth of aquaculture production is diverted from terrestrial livestock feed to aquatic feed. Fish oil is the source of energy and essential fatty acids. Its usage in the aquaculture industry has increased the market value. Fishmeal fish oil has many benefits to aquatic animals, such as higher survival growth, improved immunity against diseases, and reduced deformities.
In livestock, the aquatic animal segment holds the largest Fishmeal market share of the global Fishmeal Market. The fishmeal in the diets of aquatic animals reduces pollution from wastewater effluents with greater nutrient digestibility.
The Fishmeal Market will register a CAGR of 7.5% CAGR from 2022-2030 and a value of USD 15000.23 million by the end of 2030.
Major Players:
The prominent players operating the global fishmeal market are Pioneer Fishing (Pty) Ltd., Aker Biomarine Antarctic AS (Norway), FMC Corporation (U.S.), The Scoular Company (U.S.), Croda International Plc. (U.K), Omega Protein Corporation (U.S.), (South Africa), Biomega AS (Norway), Oceana Group Limited (South Africa), Calysta Inc. (U.S.), and Empresas Copec S.A. (Chile).
Regional Analysis
The Fishmeal Market shows magnificent growth in the major regions such as North America, Asia Pacific, Europe, and the other regions of the world.
The Asia Pacific is considered the superior region of the market due to the rise of livestock activities and commercialization of aquaculture activities in countries like China, Thailand, India, Japan, Indonesia, and Vietnam. This factor is boosting the market expansion in this region. The North American region will observe a remarkable share in the forecast period due to the demand for protein supplementation. The inclination of consumers from red meat to other sources is a major factor responsible for the regional market in the North American region.
The increased rate of aquaculture activities in the industry will increase the growth rate. The usage of fish meal in fertilizer is a treasure of this market. And in other regions, the fish meal in powder form and used in compound foods for pigs, poultry, and farmed fish.
Market Segments
The Fishmeal Market report is categorized into source, livestock, and application.
The source segment is categorized into Marine Fish, Crustaceans, Salmon Trout, Tilapia, and Others.
The Livestock segment into Poultry, Swine, Ruminants, Aquatic Animals, and Others. The application section is fragmented into Fertilizers, Animal Feed, and Others. The feed segment is the fastest growing and will contribute to the market growth compared to other segments.
Industry News
In May 2022, Tecnologica de Alimentos Somos (TASA), Peru’s largest fishmeal and fish oil producer, claimed to have become the first Latin American fishing company for a sustainability-linked sustainability loan, it announced on LinkedIn.
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