Fishmeal Market Research Report - Forecast till 2030

Fishmeal Market Research Report: Information by Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, and Others), Livestock (Ruminants, Poultry, Swine, Aquatic Animals and Others), Application (Fertilizers, Animal Feed, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

ID: MRFR/AGR/4085-HCR | December 2022 | Region: Global | 110 Pages         

Fishmeal Market

Fishmeal Market Size is anticipated to reach USD 15,000.23 Million by 2030, registering a CAGR of 7.5% during 2022-2030

Segmentation

By Source Salmon & Trout Marine Fish Crustaceans Tilapia Others
By Livestock Ruminants Poultry Swine Aquatic Animals Others
By Application Fertilizers Animal Feed Others
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • Empresas Copec S.A. (Chile)
  • Croda International Plc. (UK)
  • Biomega AS (Norway)
  • Omega Protein Corporation (US)
  • Oceana Group Limited (South Africa)
  • FMC Corporation (US)
  • Calysta Inc. (U.S.)
  • Austevoll Seafood ASA (Norway)
  • Pioneer Fishing (Pty) Ltd. (South Africa)
  • Aker Biomarine Antarctic AS (Norway)
  • The Scoular Company (U.S.)
  • Sarma Fish S.A.R.L (Morocco)
  • Alpha Atlantique (Morocco)
  • Animalfeeds International Corporation (USA)
  • Novus International Inc. (US)

Drivers

  • Rising demand for protein supplements in animal feed
  • Used as a fertilizer

Fishmeal Market Overview


The Fishmeal Market is expected to register 7.5% CAGR from 2022 to 2030 and reach USD 15,000.23 Million by the end of 2030.


Fishmeal products are those products which are made from fishes that are widely used as fertilizers and feeds. First of all, the raw fish is trimmed and pressed and then it is dried and milled to get the fishmeal in cake or powder form. The fishmeal is considered to be good quality protein and bypass protein for monogastric and ruminants respectively and also a good nutritional source of calcium and phosphorus in animal feeds. It can be derived from any type of seafood and is usually produced from small marine fishes that carry high content of oils and bones and is not considered appropriate for direct consumption by humans. Domestic animals are responsible for making noteworthy offerings to components of food supply worldwide and due to it, animal feeds are gaining much importance these days. And the feed with poor protein content can cause serious problems to younger animals which in turn cannot be cured.


Covid -19 Analysis of Fishmeal Market


The coronavirus pandemic has given a very hard time to most of the manufacturing, developing, production, and logistic units of the market. Due to this pandemic situation, restrictions were imposed by the government of different countries. Also, with the restrictions imposed during this pandemic are anticipated to impact the supply and value chain of the fishmeal market drastically. The raw materials required for the production of fish meal feed are most of the time imported from different regions of the world and due to interstate transportation restrictions, there is a shortage of raw material for producers of fishmeal which is impacting the fish meal market negatively.


Market Dynamics


Drivers


Fish meal contains a good content of amino acids and proteins in it that can be easily digested by the livestock including aquatic animals and in addition to that, it contains an adequate number of fatty acids and other minerals that are essential for the growth of several live stocks. This is one of the major factors that will enhance the growth of fishmeal market. The other main application of fish meal is that it is used as a fertilizer which is a rich source of organic nitrogen which will enhance the growth of a plant at a faster pace which is another factor that will boost the growth of this market. Lastly, the rising demand for protein supplements in animal feed is expected to encourage the expansion of this industry.


Restraints


The rising number of substitutes for fishmeal is the main factor that may hamper the growth of this market. Blood meal, meat, and bone meals are considered to be better alternatives than fish meals. Also, the proteins extracted from plants are better in quality than a fish meal and for preserving the health of livestock the keepers are demanding and buying the best in the market. Also due to lack of infrastructure and proper storage facilities such as cold storage in major developing countries is another factor that may restrain the expansion of fishmeal market. Keeping in mind the concept of environmental preservation, the government of different countries is putting restraints on fishing activities which in turn is another major factor that may restrict the growth of this industry.


Technology Analysis


The wide-scale integration of fishmeal with fish oil is increasing its use across industry vertices like swine, poultry, and agriculture. There is a steering demand for the same in the diet fed to the farm animals. Also, there is a huge degree of enhancement of productivity and the environmental performance of aquaculture worldwide. The El Nino effect is another factor that steers the demand on the global level. The intensification of aquaculture is maintainable and hence, there are positive and potential opportunities in store for the marketing for the upcoming years of the forecast period ending in 2028. The global fishmeal market is also witnessing a rise in huge demand for aquatic feed additives that have positive results in store for the market during the forecast period.


Study Objectives



  • To consider the viewpoint of various industry experts and leaders and predict compound annual growth rate and fishmeal market growth rate by the end of the global forecast.

  • To highlight a competitive market outlook and examine the yield models of key market players, worldwide.

  • To observe the various market dynamics like trends, drivers, and restraints that are most probable to play a role in helping the market and its different segments growing in the domestic as well as international market.


Segment Overview


Fishmeal Market share is anticipated to witness significant growth owing to the performance of different market segments. Among these segments, the feed segment will be the fastest-growing and also contribute towards this market growth more than any other segment. As the feed made up of by using fishmeal is mainly served in powdered form to animals like pigs and fish. On the other hand, the aquaculture segment will be the widest segment in terms of volume as well as value due to the rise in fishmeal consumption. Also, the waste fish meal is used for the production of the additional fishpond. For an amplifying use the market has been segmented into the following on different bases:



  • Based on the source, it has salmon, trout, marine fish, tilapia, crustaceans, and others.

  • Based on livestock, it has poultry, swine, ruminants, aquatic animals, and others.

  • Based on application, it has an animal feed, pharmaceuticals, fertilizers, and dietary supplements.


Regional Analysis


The fishmeal market movements are remarkably working in 4 major regions of the world that is North America, Asia Pacific, Europe, and the rest of the world. Among all these regions, the Asia Pacific region will dominate this market, and the reason attributed to it is rising livestock raising activities. Also, the commercialization of aquaculture activities in developing economies such as India, Japan, China, Thailand, Indonesia, and Vietnam is anticipated to boost the expansion of the market in this region. The North American region is expected to gain a remarkable share of the market during the period of forecast due to rising demand for protein supplementation in feed. Also, the shift in consumer preference from red meat to other meat sources is another factor responsible for the growth of this market in the North American region. Lastly with the rise in aquaculture activities the industry is foreseen to grow at a magnificent rate. Also, the use of fish meal as a fertilizer is considered a treasure of this market. And in most regions, fish meal is sold in powder form and finds its application in compound foods for poultry, pigs, and farmed fish.


Competitive Landscape


To get a detailed and profound idea about the fishmeal market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the country. All the market players are competing with each other globally in the international markets by implementing various types of strategies such as product launches and upgrades, mergers and acquisitions, partnerships, etc. The prime players of this market include: -



  • CRODA INTERNATIONAL PLC. (UK)

  • EMPRESAS COPEC S.A. (CHILE)

  • BIOMEGA AS (NORWAY)

  • OCEANA GROUP LIMITED (SOUTH AFRICA)

  • OMEGA PROTEIN CORPORATION (US)

  • FMC CORPORATION (US)

  • AUSTEVOLL SEAFOOD ASA (NORWAY)

  • CALYSTA, INC. (U.S.)

  • PIONEER FISHING (PTY), LTD. (SOUTH AFRICA)

  • THE SCOULAR COMPANY (U.S.)

  • AKER BIO MARINE ANTARCTIC AS (NORWAY)

  • SARMA FISH S.A.R.L (MOROCCO)

  • ANIMALFEEDS INTERNATIONAL CORPORATION (USA)

  • ALPHA ATLANTIQUE (MOROCCO),

  • NOVUS INTERNATIONAL INC. (US)


Recent Developments



  • Peru is regaining its status of being the largest manufacturer of fishmeal amongst the other competitive countries across the globe. This is a major step that will accelerate the demand for fishmeal in the region and excessive demand has a major role to play in reducing the high rates of global fish meal prices. These were increased in the historic forecast period as the fishmeal production in the region dropped at a significant rate.

  • China, as a part of the APAC region, is the largest importer of fishmeal. It has the largest consumer fishmeal market. To enjoy global dominance over the market by the end of the forecast period in 2028, China is working on the large-scale development of manufacturing technology that will accelerate the production capacity and provide a development edge to the region.

  • There is a rise in the population of the people belonging to the APAC region and owing to the health benefits offered by these products, there are favorable changes in the demand pattern for the Fishmeal Market which promise a good growth rate during the ongoing forecast period.


Intended Audience



  • Fishmeal manufacturers

  • Traders and distributors of fishmeal

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories


Report Overview


The Fishmeal Market report presents a shift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report discusses the impact of covid-19 on the key players of this market. The report also talks about the market segmentation on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in this industry.



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 15,000.23 Million
  CAGR   7.5% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Source, By Livestock, By Application, and By Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Empresas Copec S.A. (Chile), Croda International Plc. (UK), Biomega AS (Norway), Omega Protein Corporation (US), Oceana Group Limited (South Africa), FMC Corporation (US), Calysta Inc. (U.S.), Austevoll Seafood ASA (Norway), Pioneer Fishing (Pty) Ltd. (South Africa), Aker Biomarine Antarctic AS (Norway)
  Key Market Opportunities   Rising demand for protein supplements in animal feed
  Key Market Drivers   Fish meal contains a good content of amino acids and proteins


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Frequently Asked Questions (FAQ) :

fishmeal market is projected to grow at approximately 7.5% CAGR during the assessment period (2022-2030).

fishmeal market is estimated to reach a valuation of approx. USD 15,000.23 Million by the end of 2030.

Empresas Copec S.A. (Chile), Croda International Plc. (UK), Biomega AS (Norway), Omega Protein Corporation (US), Oceana Group Limited (South Africa), FMC Corporation (US), Calysta, Inc. (U.S.), Austevoll Seafood ASA (Norway), Pioneer Fishing (Pty), Ltd. (South Africa), Aker Biomarine Antarctic AS (Norway), The Scoular Company (U.S.), Sarma Fish S.A.R.L (Morocco), Alpha Atlantique (Morocco), Animalfeeds International Corporation (USA), and Novus International Inc. (US), are some of the top players operating in the global fishmeal market.

Asia Pacific holds the largest share in the global fishmeal market, followed by Europe and North America, respectively.

Increasing seafood consumption, rising numbers of fisheries, high demand for protein & vitamin-rich feed, are major tailwinds pushing the growth of the global fishmeal market.