What is Fishmeal & Fish Oil - Global Market?
Fishmeal and Fish Oil are essential commodities in the global market, derived from fish. These products are rich in protein and omega-3 fatty acids, which are vital for both human and animal nutrition. Fishmeal is a brown, flour-like material obtained by cooking, pressing, drying, and grinding of fish or fish waste to which no other matter has been added. It is a highly nutritious product that is widely used as a feed ingredient in the aquaculture sector. On the other hand, Fish Oil is oil derived from the tissues of oily fish. It contains omega-3 fatty acids, which are known to have numerous health benefits. The global market for Fishmeal and Fish Oil is vast and diverse, catering to various industries and sectors.
Salmon & trout, Marine fish, Crustaceans, Tilapias, Carps in the Fishmeal & Fish Oil - Global Market:
The Fishmeal and Fish Oil market is segmented based on the type of fish used, including Salmon & Trout, Marine Fish, Crustaceans, Tilapias, and Carps. Each of these fish types has a unique contribution to the market. Salmon & Trout are popular for their high omega-3 content, making their meal and oil highly sought after in the health and wellness industry. Marine Fish, on the other hand, are a significant source of fishmeal and oil due to their abundance and diversity. Crustaceans, such as shrimp and crabs, are also used for fishmeal and oil production, although they are less common. Tilapias and Carps, being freshwater fish, are primarily used for fishmeal production due to their high protein content. The use of these different fish types in the Fishmeal and Fish Oil market ensures a wide range of products to meet various consumer needs.
Animal Feed and Nutrition, Food and Beverage Industry, Nutraceutical Industry, Others in the Fishmeal & Fish Oil - Global Market:
Fishmeal and Fish Oil have a wide range of applications in various sectors. In the Animal Feed and Nutrition sector, they are used as a high-quality protein source in feed for poultry, pigs, and farmed fish. In the Food and Beverage Industry, Fish Oil is used as a health supplement due to its high omega-3 fatty acid content. The Nutraceutical Industry also utilizes Fish Oil for its health benefits, particularly in the production of omega-3 supplements. Other uses of Fishmeal and Fish Oil include their use in fertilizers, due to their high nutrient content, and in the pharmaceutical industry, where Fish Oil is used in the production of various drugs and health products.
Fishmeal & Fish Oil - Global Market Outlook:
The global Fishmeal and Fish Oil market has shown steady growth over the years. In 2022, the market was valued at US$ 7362.8 million and is projected to reach US$ 8413 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 1.9% during the forecast period from 2023 to 2029. The market is dominated by key players such as Tasa and Copeinca, which accounted for 6.17% and 3.74% of the market share respectively in 2019. These figures indicate the significant role these companies play in the global Fishmeal and Fish Oil market.
| Report Metric | Details |
| Report Name | Fishmeal & Fish Oil - Market |
| Forecasted market size in 2029 | US$ 8423.2 million |
| CAGR | 1.9% |
| Forecasted years | 2023 - 2029 |
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| Global Fishmeal & Fish Oil market, Segment by Type: |
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| Global Fishmeal & Fish Oil market, by Application |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
