Fishmeal & Fish Oil - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Fishmeal & Fish Oil market is accounted for $10,576.22 million in 2018 and is expected to reach $24,734.87 million by 2027 growing at a CAGR of 9.9% during the forecast period. Some of the key factors propelling the market growth include rising use of fishmeal & fish oil in swine and poultry diets, improving productivity & performance of aquaculture, and availability of feed ingredients substitutes. However, el niño effect resulting in higher prices is restraining the market growth.
Fish meal is a commercial product obtained from bones of wild-caught small marine fishes. The process includes drying fish or fish trimmings and then grinding it. Fish oil is fatty oil obtained from fishes that contain large amounts of unsaturated fatty acids. These are majorly used as additive in the animal and fish feeds. Fishmeal and fish oil are employed as high protein ingredients in the feeds given to farmland animals and farmed fishes.
By application, the aquatic animals segment is projected to witness significant growth during the forecast period. The incorporation of fishmeal into diets of aquatic animals helps to reduce pollution from wastewater effluents by providing greater nutrient digestibility. Fishmeal, when added to the feed of aquatic animals, increases feed efficiency and enhances nutrient uptake, digestion, and absorption. This has resulted in an increase in the use of fishmeal & fish oil for aquatic animals.
On the basis of geography, Europe region is expected to have considerable market growth during the forecast period, owing to increasing demand for fishmeal & fish oil due to increased demand for fish-based food. The leading companies in Europe are focusing on launching new products for expansion of their business in local and international markets. In addition, the EU imports a wide variety of aquaculture species and products. Norway and Germany constituted the largest country-level markets in the European region.
Some of the key players in fishmeal & fish oil market include Oceana Group Limited, Omega Protein Corporation, Sürsan, The Scoular Company, Marvesa, Royal DSM, Pelagia, FF Skagen, GC Rieber Oils, FMC Corporation, Austevoll Seafood ASA, Croda International PLC, Tasa, BASF SE, Orizon, Pioneer Fishing, Triplenine Group, Pesquera Exalmar S.A.A, and Corpesca SA.
• Salmon & trout
• Marine fish
• Horse Mackerel
• Other Sources
• Aquatic Animals
• Land Animal Feeds
• Direct Human Consumption
• Other Livestock Applications
End Users Covered:
• Dietary Supplements
Product Types Covered:
• Fish Oil
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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