Fishmeal & Fish Oil Market Global Key Players, Size, Value, Growth rate, Demands, Trends, Livestock Application and Forecasts to 2027 - ReportsnReports

PUNE, India, Nov. 15, 2022 /PRNewswire/ -- The global fishmeal & fish oil market is estimated to be valued at USD 12.1 billion in 2022. It is projected to reach USD 15.4 billion by 2027, with a CAGR of 4.9%, in terms of value between 2022 and 2027. The market is gaining momentum as fishmeal & fish oil continue to find increased applications across various livestock and industrial applications. The demand for fishmeal & fish oil is gaining significant traction in the industry, especially due to the rising focus on health and nutrition of livestock and pet animals coupled with increasing ageing population, especially in Asia Pacific region.

Additionally, the rising innovation in the fishmeal & fish oil market and technological advancements which are enhancing the efficiency of fishmeal & fish oil have contributed to the growth of the market in recent years.

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By type, fishmeal is expected to retain its position as the dominant segment over the forecast period."

Based on type, the fishmeal segment is likely to account for the dominant segment over the forecasted period. Fishmeal finds extensive applications across the feed industry and are used in livestock feed for a range of animals such as aquatic animals, swine, poultry, cattle, and pets to enhance their feed efficiency and provide a range of health benefits, which will continue to provide significant business opportunities to fishmeal over the forecasted period.

"By source, salmon& trout segment occupies the highest market share during the forecast period."

Based on source, salmon & trout accounted for the highest market share among all other segments. Salmon & trout contains significant amount of fishmeal & fish oil in salmonoid feed formulation, which is considered essential in enriching the nutrient content of their feed. The high demand and applicability of fishmeal and fish oil in the salmon & trout feeds will continue to present significant growth opportunities over the forecasted period.

"By industrial application, aquaculture is forecasted to account for the dominant segment during the forecasted period."

Based on livestock, aquaculture segment is likely to dominate over the forecasted period owing to the significant growth of the aquaculture industry and rapidly improving production and output in recent years, which has contributed to its growing demand. Fishmeal is considered the most widely used and popular feed ingredient for aquaculture as it provides all the essential nutrients needed for farmed fish, which are not available in other ingredients. As a result of the rapidly growing aquaculture industry, fishmeal and fish oil will continue to find significant industrial applications in the aquaculture industry.

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By livestock application, aquatic animals are expected to retain their position as the dominant segment over the forecast period."

Based on livestock application, aquatic animals segment is expected to account for the largest market share over the forecast period because of the growing demand of high-quality and premium aquatic feed ingredients. With the rise in demand and productivity of aquaculture industry, and desirable characteristics of fishmeal and fish oil to enhance feed efficiency, nutrient intake, digestion and absorption in aquatic animals, they are likely to continue to witness significant demand over the forecasted period.

"The Asia Pacific region accounts for the dominant market share for the fishmeal & fish oil market during the forecast period"

Asia Pacific region is expected to retain its position as the dominant region for fishmeal & fish oil market during the forecasted period. The region's large market share is attributed to a variety of reasons such as increase in ageing population and rising level of awareness regarding health and nutrition of livestock animals which contributes to the higher demand of fishmeal & fish oil in the region. The region's growth has also been bolstered due to the presence of a significant number of major fishmeal & fish oil manufacturing companies. The growing aquaculture and livestock industries in the Asia Pacific region, will continue to present significant business opportunities over the forecasted period.

Break-up of Primaries

• By Company Type: Tier 1– 25%, Tier 2 – 45% and Tier 3– 30%
• By Designation: Manager- 35%, CXOs– 35%, and Executives – 30%
• By Region: Asia Pacific – 55%, Europe - 15%, North America-20%, and RoW- 10%

Leading players profiled in this report include the following:

• FKS Multi Agro (Indonesia)
• Mukka Proteins Limited (India)
• Arbee (India)
•  Sandakan Fishmeal SdnBhd (Malaysia)
• WudiDeda Agriculture Co., Ltd. (China)
•  Raj Fishmeal and Oil Company (India)
•  Asia Fish Oil Corporation (Vietnam)
•  Dai Dai Thanh Seafoods (Vietnam)
•  Pattani Fish Meal (1988) Co., Ltd. (Thailand)
• Austevoll Seafood ASA (Norway)

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Research Coverage

This report segments the fishmeal & fish oil market on the basis of type, livestock application, industrial application, source, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the fishmeal & fish oil market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.

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