Fishmeal Market to Grow with a CAGR of 5.44% through 2028

According to TechSci Research report, “Fishmeal Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Fishmeal Market stood at USD 5.25 billion in 2022 and is anticipated to grow with a CAGR of 5.44% in the forecast period, 2024-2028. The awareness among individuals regarding Fishmeal has led to favorable market conditions for the global Fishmeal market. Several factors contribute to the growth of various Fishmeal products.

The growth of the fishmeal market is the rising demand for aquaculture products. Fishmeal is a crucial component in aquafeed formulations, providing essential nutrients such as proteins, omega-3 fatty acids, and amino acids. With the global population increasing and traditional capture fisheries facing sustainability challenges, aquaculture has emerged as a sustainable alternative to meet the growing demand for seafood. As aquaculture production expands, so does the demand for high-quality and nutritionally balanced aquafeed, driving the consumption of fishmeal.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Fishmeal Market”

Fishmeal is valued for its nutritional profile, containing high levels of proteins, amino acids, vitamins, and minerals. The awareness of these nutritional benefits, both among consumers and aquaculture producers, is a key driver for the market. As consumers become more health-conscious and seek nutritious and protein-rich diets, the demand for seafood, and consequently fishmeal, rises. Moreover, aquaculture producers recognize the importance of providing optimal nutrition to enhance the growth and health of farmed fish, further fueling the demand for fishmeal.

In September 2023 - Ff Skagen A/S signs a strategic partnership with a leading European animal nutrition company to develop and commercialize innovative feed ingredients using Ff Skagen's sustainable fishmeal and fish oil products. The partnership aims to create next-generation feed solutions that enhance animal health and productivity while minimizing environmental impact.

Fishmeal is not only a crucial ingredient in aquafeed but also finds applications in the livestock and poultry industries. The growth of these industries, driven by increasing global meat consumption and demand for high-protein animal feed, contributes significantly to the expansion of the fishmeal market. Poultry and livestock farmers use fishmeal to enhance the nutritional content of feed, promoting healthier and faster growth of animals. As emerging economies witness a rise in disposable income and changing dietary patterns, the demand for meat and animal products is on the upswing, further boosting the use of fishmeal in feed formulations.

In today's fast-paced world, with the global population increasing and traditional capture fisheries facing sustainability challenges, aquaculture has emerged as a key player in meeting the rising demand for seafood. Fishmeal serves as a vital component in aquafeed formulations, providing essential nutrients such as proteins, amino acids, omega-3 fatty acids, and vitamins. Its nutritional superiority contributes to the rapid growth and productivity of farmed fish, facilitating the efficient production of seafood to keep up with the fast-paced demand for protein-rich aquatic products. The livestock and poultry industries, essential for meeting global meat and protein demands, benefit from fishmeal's nutritional profile. As these industries strive for efficient and rapid growth of animals, incorporating fishmeal into feed formulations enhances the overall nutritional content. This accelerates the growth rates of livestock and poultry, contributing to the swift production of meat and other animal products in response to the fast-paced nature of the global food market. Fishmeal is derived from fishery by-products, often utilizing species like anchovies and herring that are not directly consumed by humans. This sustainable utilization of resources contributes to the resilience of the food supply chain. In a fast-paced world with growing concerns about food security, fishmeal offers a valuable source of nutrition for farmed animals, reducing pressure on traditional fisheries and supporting the sustainable production of food.

The sustainability of fishmeal production is a critical factor influencing the market. With concerns about overfishing and environmental impact, there is a growing emphasis on sustainable fishing practices and responsible sourcing of raw materials. Certification programs such as the Marine Stewardship Council (MSC) and others promote sustainable fisheries management. As consumers and businesses increasingly prioritize sustainability, there is a higher demand for certified and responsibly sourced fishmeal. This trend not only aligns with environmental conservation goals but also enhances the marketability of fishmeal products.

In recent times, Fishmeal is a fundamental component in aquafeed formulations. With the rapid expansion of the aquaculture industry to meet the increasing global demand for seafood, fishmeal serves as a crucial protein source in the diets of farmed fish and shrimp. It provides essential amino acids, omega-3 fatty acids, vitamins, and minerals, promoting the growth, health, and overall quality of aquaculture products. Fishmeal is widely used in the livestock and poultry industries to enhance the nutritional content of animal feed. Its high-quality protein, amino acid profile, and nutrient density contribute to the growth, development, and overall health of livestock and poultry. In recent times, as consumer preferences shift towards high-quality and ethically sourced meat, fishmeal plays a role in meeting the nutritional demands of animals in these industries. Fishmeal has found applications in the pet food industry, particularly in formulations targeting premium and high-quality pet nutrition. Pet owners increasingly seek nutritious and balanced diets for their pets, and fishmeal, with its rich protein and nutrient content, aligns with these preferences. It contributes to the production of pet foods that support the health and well-being of dogs and cats. However, the sustainability concerns and overfishing may hinder market growth. Moreover, challenges related to fluctuations in raw material supply and prices and substitutes and alternative protein sources may pose obstacles to the Fishmeal market in the near future.

The Global Fishmeal Market is segmented into application, end-user, regional distribution, and company.

Based on its application, the Animal Feed segment has emerged as the predominant market leader, This dominance is driven by the unique nutritional profile of fishmeal, making it an essential ingredient in animal feed formulations, particularly for aquaculture and livestock.

Fishmeal is an exceptionally rich source of protein, typically containing around 60-65% protein. This high protein content is crucial for supporting growth, development, and muscle formation in animals, particularly aquatic species like fish and shrimp. Fishmeal contains a well-balanced amino acid profile, including essential amino acids that animals cannot synthesize on their own. These essential amino acids are vital for various bodily functions, including tissue repair, hormone production, and enzyme production. Fishmeal possesses a high degree of palatability, making it readily accepted by animals. Additionally, it is highly digestible, allowing animals to efficiently absorb the essential nutrients it provides.

Based on region, Asia-Pacific segment is expected to grow during the forecast period.  Rapidly growing aquaculture industry in the region, particularly in China, Vietnam, and India, Increasing demand for animal protein, particularly seafood, Growing focus on animal nutrition and efficient feed utilization. Within Asia Pacific, China is the largest market for fishmeal, followed by Vietnam and India. These countries are experiencing significant growth in their aquaculture and livestock production sectors.

The North America market is poised to be the fastest-growing market, offering lucrative growth opportunities for Fishmeal players during the forecast period. Factors such as the demand for fishmeal are also expected to see steady growth. The shift towards sustainable and responsible sourcing in these regions, driven by consumer preferences and regulatory initiatives, may influence the sourcing of fishmeal from certified fisheries. As aquaculture practices continue to evolve in these regions, the demand for high-quality aquafeed, including fishmeal, is likely to contribute to market growth.

 Major companies operating in Global Fishmeal Market are:

• Triplenine Group A/S
• Pesquera Diamante S.A.
• Ff Skagen A/S
• Biomega AS
• Sarma Fish S.A.R.L
• Aker BioMarine Antarctic AS
• Omega Protein Corporation
• Calysta, Inc.
• Novus International Inc.
• Alpha Atlantique 

Download Free Sample Report

Customers can also request for 10% free customization on this report

“The emphasis on sustainable fishing practices and increasing shift in pet food industry are key drivers of the Fishmeal market. In recent years, The nutritional benefits of fishmeal, including high-quality proteins, amino acids, omega-3 fatty acids, vitamins, and minerals, contribute to its demand in the market. The quest for high-quality animal nutrition to ensure optimal growth and health drives the inclusion of fishmeal in feed formulations. As awareness of the nutritional benefits of fishmeal increases, the demand for this ingredient grows across various animal production sectors. Moreover, the growing consumer emphasis on preventative products has enhanced production and marketing efforts. To meet the demands of the market, manufacturers are increasingly incorporating cutting-edge technologies with high production efficiency. Rising consumer acceptance and continuous product innovation will further ensure the growth of the Fishmeal market in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Contact

TechSci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

Tel: +1-332-258-6602

Email: [email protected]

Website: www.techsciresearch.com