Fish Meal Market: Overview
Due to its high protein content and excellent supply of Omega 3, minerals, and fatty acids, fish meal has been a significant and crucial component in the fertiliser industry and aquaculture. Due to the rise in consumption of aquaculture, poultry, and pig farming, as well as other forms of animal husbandry, the market for fishmeal is predicted to experience rapid expansion. As a superb source of protein and nutrition for animals, fishmeal boosts animal performance and quality.
Trout and salmon are frequently used as a source of raw materials for the manufacturing of fishmeal. The waste products in fish processing factories have increased as a result of the large increase in trout and salmon farming during the past few years. Fishmeal can be made by businesses using a plentiful supply of inexpensive raw materials to meet global customer demand. These fish species are rich in nutrients and oil, so the fish meal they generate is of the highest calibre.
Animal feed can benefit from using fish meal as a source of protein, and this application is expanding. A recent study found that over the previous ten years, the amount of fishmeal used in animal feed increased by 60%. This is partly a result of emerging nations’ rising reliance on meat and dairy products.
Additionally, fishmeal is being used more frequently in place of conventional feed additives like soybean meal and maize gluten meal. This is due to the fact that it is a more sustainable source of protein and offers advantages in terms of nutrition that other components do not. For instance, fishmeal has high levels of omega-3 fatty acids, which are good for the health of animals.
The market for fish meal is being driven by the developing aquaculture industry as well as the rising demand for high-quality seafood products. The quest for natural alternatives is also being fueled by the growing environmental concerns about the detrimental effects of chemical-based feed additives on the aquatic ecology. The market for fish meal is also being driven by the increased prevalence of several chronic diseases brought on by the ingestion of heavy metals like mercury, lead, cadmium, etc. that are present in conventionally-cultured seafood. In addition, as meat and dairy production becomes more industrialised, there is an increased need for premium feed additives like fish meal to promote reproduction, increase metabolism, control disease outbreaks, etc.
The COVID-19 pandemic has negatively impacted the fisheries industry with disruptions in its supply chain. The decline in the demand for seafood has resulted in the decreased production of fish. Low fish demand reduced fish fleet activities, which negatively impacted the production of fish by-products, especially fishmeal. However, with the launch of vaccination drives globally, the economies are reviving, and industries are witnessing demand for their products. Various governments are also taking initiatives to minimize the loss of the fisheries industry due to this pandemic. With this, the fishmeal market is expected to witness growth in the coming years.
Global Fish Meal Market: Major Players
- Novus International Inc
- FMC Corporation
- Aker Biomarine Antarctic AS
- Austevoll Seafood ASA
- The Scoular Company
- Omega Protein Corporation
- Sarma Fish S.A.R.L
- Alpha Atlantique
- Empresas Copec S.A.
- Pioneer Fishing (Pty), Ltd
- Calysta, Inc
- Biomega AS
- Croda International Plc
- Animalfeeds International Corporation
- Oceana Group Limited
Global Fish Meal Market: Types
- Salmon & Trout
- Marine Fish
Global Fish Meal Market: Applications
Global Fish Meal Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Fish Meal market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Access Full Report: https://analyticsmarketresearch.com/reports/fish-meal-market/3659/
Frequently Asked Questions:
- How much is the Fishmeal market currently worth?
- At what CAGR is the market expected to grow?
- What are the key trends boosting Fishmeal sales?
- How are market players reacting to the new developments in the market?
- How much share do the top 3 companies hold?
- Which are the major countries driving demand for Fishmeal?
- Who are the major players in Fishmeal Market?
Analytics Market Research
Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Analytics Market Research