About Fishmeal & Fish Oil
The fishmeal and fish oil market forms a prominant part of the world agriculture and aquaculture industry due to the growing demand for protein and other nutrients. Fishmeal is a high-protein product processed from fish that is mostly consumed in animal feeding systems, with most emphasis being on livestock and fish farming. Omega-3 fatty acids, which are found abundantly in fish oil, are used for dietary supplements, functional foods, and feed supplements for animals. The expansion in the products of the aquaculture business meant to feed the populace and global demand for fish and other seafood products has greatly supported the fish meal and fish oil markets. Besides, there has been heightened consciousness in human nutrition with Omega-3 fatty acids that has led to demand for fish oil. Therefore, factors such as fish stock availability, regulatory policies, and environmental sustainability issues characterize the dynamics of the market. Fishing as a means of procurement and the overharvesting of fish have overtime triggered discussions towards the outcome of fishing, such as the search for more sustainable methods of sourcing protein and better ways of fishing. Thus, new solutions have appeared over the years with regard to fish for example, plant-based or insect-based proteins instead of wild fish. In sum, the fishmeal and fish oil markets are gradually becoming more sustainable and effective due to the world’s environmental and health issues.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 8.3% |
Sustainability is becoming even more important for organizations because with the growth of competition, clients and consumers expect that products must be sourced responsibly and produced without harm to the environment. The practices that are currently being adopted by organizations like using fish from certified sustainable fishery or inventing other sources of protein are however giving certain competitive advantages to the businesses. All in all, the market is a mixture of extensive and diverse companies and narrow and atomic ones, facing supple supply-demand chains and an environmental perspective. Analyst at AMA Research estimates that United States, Netherlands and Norway Vendors will contribute the maximum growth to Global Fishmeal & Fish Oil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
FMC Corporation (United States), Austevoll Seafood ASA (Norway), Croda International PLC (United Kingdom), Oceana Group Limited (South Africa), Omega Protein Corporation (United States), Sürsan (Netherlands) and The Scoular Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are GC Rieber Oil (Norway), Marvesa (Netherlands) and TASA (Peru).
Segmentation Overview
AMA Research has segmented the market of Global Fishmeal & Fish Oil market by Type (Steam Dried, Flame Dried and Others), Application (Aquatic animals, Swine, Poultry, Cattle and Pets) and Region.
On the basis of geography, the market of Fishmeal & Fish Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industrial Application, the sub-segment i.e. Fertilizers will boost the Fishmeal & Fish Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source Type, the sub-segment i.e. Salmon & trout will boost the Fishmeal & Fish Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising consumer inclination towards premium feed and food products
Market Growth Drivers:
An increasing awareness regarding healthier lifestyle and benefits of fishmeal and fish oil and Increases feed efficiency and enhances nutrient uptake
Challenges:
The low production rates and high cost of Fishmeal & Fish Oil
Restraints:
Use of fishmeal and fish oil as additive in animal feed is limited by the typical inclusion rates
Opportunities:
Constantly changing lifestyle and increasing number of working class people in emerging economies
Market Leaders and their expansionary development strategies
In May 2023, Scoular has acquired Northwest Farm Food Cooperative’s frozen fish processing facility in Burlington, 8239; The facility upcycles fish trimmings by processing them into frozen fish ingredients for pet food manufacturers.
In August 2023, Wild-caught fish products heavyweight Pelagia has launched a new fishmeal for aquafeed which it says delivers major benefits in the form of significantly bigger and healthier fish.
The International Fishmeal and Fish Oil Organization (IFFO) has developed a Global Standard and Certification Programme for the Responsible Supply of Fishmeal and Fish Oil (IFFO RS).
Key Target Audience
Fishmeal & Fish Oil Producers, Raw Material Suppliers, Fishmeal & Fish Oil Suppliers/Distributors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.