Global Fishmeal & Fish Oil Market Insights Forecasts to 2032

• The Global Fishmeal & Fish Oil Market Size was valued at USD 12.2 Billion in 2022.
• The Market is Growing at a CAGR of 4.7% from 2022 to 2032
• The Worldwide Fishmeal & Fish Oil Market Size is expected to reach USD 19.4 Billion by 2032
• Europe is expected To Grow the fastest during the forecast period

 

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The Global Fishmeal & Fish Oil Market Size is anticipated to exceed USD 19.4 Billion by 2032, growing at a CAGR of 4.7% from 2022 to 2032. Spherical Insights Market Research's report on the fish oil and fish meal market evaluates and provides insights into the multiple factors projected to be prevalent during the projected period, as well as their influence on the market expansion. The growing consumer awareness of the benefits of omega-3 fatty acid consumption is fueling the growth of the fishmeal and fish oil markets. 

 

Market Overview

The Fishmeal & Fish Oil market is a crucial segment of the global aquaculture and animal feed industries. Fishmeal and fish oil are derived from various fish species, primarily small pelagic fish like anchovies, sardines, and herring. They are widely used in animal and aquaculture feeds due to their high protein and nutritional content.

 

The market for fishmeal and fish oil has witnessed steady growth over the years, driven by increasing demand for protein-rich animal feed, particularly in the poultry, pig, and aquaculture sectors. Fishmeal is a valuable source of essential amino acids, vitamins, and minerals, making it a preferred ingredient in animal diets. Fish oil, on the other hand, contains omega-3 fatty acids, which are known for their health benefits and are in high demand in the functional food and dietary supplement industries.

 

However, the Fishmeal & Fish Oil market faces several challenges. One major concern is the sustainability of sourcing fish for these products, as overfishing and environmental issues can have a detrimental impact on fish stocks. As a result, there has been a growing emphasis on responsible sourcing and sustainable fishing practices to ensure the long-term viability of the industry.

 

Report Coverage

This research report categorizes the market for the global fishmeal & fish oil market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the fishmeal & fish oil market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the fishmeal & fish oil market.

 

Driving Factors

The rapid expansion of the aquaculture industry is a major driver for the fishmeal and fish oil market. Aquaculture requires high-quality feeds to promote healthy growth and enhance the nutritional value of farmed fish, shrimp, and other aquatic species. Fishmeal and fish oil provide essential nutrients and contribute to the overall health and productivity of aquaculture operations.

 

With the rising global population and increasing disposable incomes, there is a growing demand for meat and animal products. This drives the demand for high-quality animal feed to support livestock production. Fishmeal is an excellent source of protein, amino acids, and minerals, making it a valuable ingredient in animal feed formulations. The nutritional benefits offered by fishmeal and fish oil contribute to improved animal health, growth rates, and feed conversion efficiency.

 

The pet food industry has witnessed significant growth in recent years, fueled by increasing pet ownership and the demand for high-quality pet food. Fishmeal and fish oil are widely used in premium pet food formulations due to their nutritional benefits and omega-3 fatty acid content. As pet owners become more conscious about the health and well-being of their pets, the demand for fishmeal and fish oil in the pet food sector continues to rise.

 

Restraining Factors

One of the major restraints for the Fishmeal & Fish Oil market is the sustainability of sourcing fish for these products. Overfishing, habitat destruction, and the depletion of fish stocks are significant concerns. The fishing industry must balance the demand for fishmeal and fish oil with the need to protect marine ecosystems and ensure the long-term viability of fish populations. The availability of fish for fishmeal and fish oil production can be unpredictable due to natural factors, such as changes in oceanic conditions, climate variability, and natural disasters. Fluctuations in fish stocks can result in price volatility and supply chain disruptions, affecting the stability of the market.

 

Market Segmentation

 

The Global Fishmeal & Fish Oil Market share is classified into type, source, and livestock application.

 

• The fish oil segment is expected to grow at the highest pace in the global fishmeal & fish oil market over the projected period.  

The global fishmeal & fish oil market is segmented by type into fishmeal and fish oil. Among these, the fish oil segment is expected to grow at the highest pace in the global fishmeal & fish oil market over the projected period. They are expected to see the highest growth prospects during the anticipated period due to their multifunctional qualities and increasing acceptability across numerous sectors. Because of its high nutrient content and beneficial health advantages, fish oil is widely used in livestock and other industrial applications such as pharmaceuticals, nutraceuticals, and fertilizers.

 

• The marine fish segment is expected to grow at the highest pace in the global fishmeal & fish oil market over the projected period.

Based on the source, the global fishmeal & fish oil market is divided into salmon & trout, crustaceans, marine fish, tilapia, and carps. Among these, the marine fish segment is expected to grow at the highest pace in the global fishmeal & fish oil market over the projected period. The growth can be attributed due to the abundance of small pelagic fish like anchovies, sardines, and herring, which are widely used for fishmeal and fish oil production. These fish species are abundant in the oceans and are known for their high oil content, making them valuable sources for fish oil extraction. Marine fish also contribute to the fishmeal market due to their protein-rich composition. The marine fish segment plays a significant role in the global fishmeal and fish oil market, providing a steady supply of raw materials for the industry.

 

• The swine segment is estimated to grow at the fastest rate in the global fishmeal & fish oil market during the forecast period. 

Based on the livestock application, the global fishmeal & fish oil market is divided into aquatic animals, swine, poultry, cattle, and pets. Among these, the swine segment is estimated to grow at the fastest rate in the global fishmeal & fish oil market during the forecast period. The growth of the swine segment is primarily driven by increasing global demand for pork products. As the swine industry expands, the need for high-quality feed that promotes healthy growth, reproductive performance, and meat quality becomes crucial. Fishmeal and fish oil provide valuable nutrients and enhance the nutritional composition of swine diets. The swine segment is expected to experience rapid growth, driven by the rising demand for pork in emerging economies and the focus on improving swine productivity and efficiency.

 

Regional Segment Analysis of the Global Fishmeal & Fish Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is estimated to hold the largest share of the global fishmeal & fish oil market over the predicted timeframe.

 

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Asia Pacific is expected to hold the largest share of the global fishmeal & fish oil market during the forecast period. Asia-Pacific is a prominent market for fishmeal and fish oil, driven by the region's large aquaculture industry, particularly in countries like China, India, Vietnam, Thailand, and Indonesia. The region accounts for a significant share of global fishmeal and fish oil consumption, primarily driven by the demand for aquaculture feed. Asia-Pacific also has a growing demand for fish oil in the dietary supplement and functional food industries due to the increasing awareness of the health benefits of omega-3 fatty acids. In terms of production, Asia-Pacific is a major player, with countries like China and Peru being significant fishmeal and fish oil producers. The region holds a significant share of the global market.

  

Europe is expected to grow at the fastest pace in the global fishmeal & fish oil market during the forecast period. Europe is one of the largest consumers and producers of fishmeal and fish oil globally. The region has a well-established aquaculture industry, particularly in countries such as Norway, Denmark, and Scotland, driving the demand for fishmeal as feed for farmed fish and crustaceans. Europe also has a higher demand for fish oil in the food and dietary supplement sectors due to the high awareness of the health benefits associated with omega-3 fatty acids. 

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global fishmeal & fish oil along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• FKS Multi Agro 
• Mukka Proteins Limited 
• Pelagia
• Sandakan Fishmeal Sdn Bhd 
• Wudi Deda Agriculture Co., Ltd. 
• Raj Fishmeal and Oil Company 
• Asia Fish Oil Corporation 
• Dai Dai Thanh Seafoods 
• Pattani Fish Meal (1988) Co., Ltd. 
• Austevoll Seafood ASA 
• The Scoular Company 
• GC Reiber Oil 
• Croda International Plc 
• Oceana Group Limited 
• Omega Protein Corporation 
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In February 2022, The Scoular Company (US) opened a new fishmeal plant in Myanmar to expand its capacity for production in the country. The increased demand for fishmeal in Myanmar and other Asian countries prompted this launch.

 

• In March 2022, Scoular, one of the globe's largest and most diverse merchandisers of fishmeal and fish oil, has opened a new fishmeal facility in Myanmar. This facility serves as a distribution center for high-quality, consistent products and just-in-time delivery to Asian feed markets.

 

• In March 2022, On March 28, 2022, Pelagia purchased 100% of the shares in Norsk Fiskeindustri Invest AS (NFI). NFI owns 51,05% of Karmsund Protein AS, a producer of fish meal and fish oil.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Fishmeal & Fish Oil Market based on the below-mentioned segments:

 

Global Fishmeal & Fish Oil Market, By Type

• Fishmeal
• Fish Oil

 

Global Fishmeal & Fish Oil Market, By Source

• Salmon & Trout
• Crustaceans
• Marine Fish
• Tilapia
• Carps

 

Global Fishmeal & Fish Oil Market, By Livestock Application

• Aquatic Animals
• Swine
• Poultry
• Cattle
• Pets

 

Global Fishmeal & Fish Oil Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa