What is Global Fishmeal and Fishoil Market?
The Global Fishmeal and Fishoil Market is a vast and dynamic sector that deals with the production and distribution of fishmeal and fish oil. These products are derived from fish species such as salmon, trout, crustaceans, marine fish, carps, tilapias, among others. Fishmeal and fish oil are highly nutritious and are primarily used in animal and aquaculture feed due to their high protein and omega-3 fatty acids content. The market for these products is driven by the increasing demand for naturally derived protein additives in animal feed and the growing aquaculture industry. Salmon and trout are among the key contributors to the fishmeal and fish oil market. These species are rich in protein and omega-3 fatty acids, making them ideal for fishmeal and fish oil production. Crustaceans, including shrimp and crabs, are also used in the production of fishmeal and fish oil. Their shells, which are usually discarded, are rich in protein and can be processed into fishmeal. Marine fish such as mackerel and sardines are also commonly used in fishmeal and fish oil production due to their high oil content. Carps and tilapias, on the other hand, are freshwater fish that are increasingly being used in fishmeal and fish oil production due to their rapid growth rates and adaptability to different environments. However, the use of these species in fishmeal and fish oil production is still relatively limited compared to marine species.
Salmon & trout, Crustaceans, Marine fish, Carps, Tilapias, Others in the Global Fishmeal and Fishoil Market:
The Global Fishmeal and Fishoil Market also finds extensive application in various sectors such as poultry, swine, aquatic animals, among others. In the poultry sector, fishmeal and fish oil are used as a protein-rich feed additive to enhance the growth and health of poultry birds. Similarly, in the swine industry, these products are used to improve the nutritional quality of pig feed, thereby promoting better growth and productivity. The use of fishmeal and fish oil in the aquaculture sector is particularly significant. These products are used as feed for various aquatic animals such as fish and shrimp, contributing to their growth and overall health. The use of fishmeal and fish oil in other sectors is also growing, although at a slower pace.
Poultry, Swine, Aquatic animals, Others in the Global Fishmeal and Fishoil Market:
Looking at the market outlook, the Global Fishmeal and Fishoil Market was valued at a significant US$ 7362.8 million in 2022. The market is expected to witness a steady growth, reaching an estimated value of US$ 9480.2 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period from 2023 to 2029. This growth can be attributed to the increasing demand for fishmeal and fish oil in various sectors, particularly in animal feed and aquaculture. The growing awareness about the nutritional benefits of these products, coupled with the expansion of the aquaculture industry, is expected to drive the market growth during the forecast period.
Global Fishmeal and Fishoil Market Outlook:
In conclusion, the Global Fishmeal and Fishoil Market is a dynamic and growing sector with a wide range of applications. The market is driven by the increasing demand for natural protein additives in animal feed and the growing aquaculture industry. With a positive market outlook, the sector is expected to witness steady growth in the coming years.
| Report Metric | Details |
| Report Name | Fishmeal and Fishoil Market |
| Accounted market size in 2022 | US$ 7362.8 in million |
| Forecasted market size in 2029 | US$ 9480.2 million |
| CAGR | 3.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Royal DSM, FF Skagen, Sursan A.S., BASF SE, GC Rieber Oils, Croda International PLC, The Scoular Company, Omega Protein Corporation, Oceana Group Limited, Pelagia |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
