DUBLIN--(BUSINESS WIRE)--The "Fishmeal and Fishoil Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
Global Fish Oil Omega-3 market is estimated to register with CAGR 7.1% during the forecast period (2020-2025).
Companies Mentioned
- 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
- GC Rieber Oils
Key Market Trends
Rising Popularity in The Pharmaceutical Industry
Fish meal and fish oil have multiple nutritional values and are also the major sources of omega-3 fatty acids EPA and DHA, which are currently recognized worldwide, as a key factor in human health. Hence, associated health benefits of fish meal and fish oil are impacting the demand for the market studied. According to the International Fishmeal and Fish Oil Organization (IFFO), standard fishmeal contains 64-67% crude protein with up to 12% fat. Special fish meal and fish oil products tend to have more protein - 68-72%.
They also have lower amine content reflecting fresher raw material, for instance, a maximum of 1,000 ppm histamine, thereby, leading to the growth of the market studied. According to information from the Food and Agriculture Organization (FAO), Crustacean is used as bioactive molecules for the pharmaceutical industry. Furthermore, carotenoids and astaxanthins derived from fish helps in improving the immunity system and works as anti-oxidant in the health care field. Many scientists are trying to extract these molecules from seafood processing waste products. Shark by-products (cartilage, but also ovaries, brain, skin, and stomach) are used in many pharmaceutical preparations and reduced to powder, creams, and capsules. Hence, rising use of fish by-products in the pharmaceutical industry as well as in feeds along with growing scientific innovation is contributing to the development of fish meal and fish oil market, globally.
Fish meal In the pharmaceutical industry is mostly used as a raw material in the preparation of certain antibiotics. The uses of fish meal and fish oil include feeding of mink, farmed fish, dogs, cats, and cattle. The specially processed fish meals are majorly consumed by humans in low quantities. The application of fish oil in the pharmaceutical industry helps in improving memory and majorly protects from mental illnesses such as bipolar disorder.
United States Dominates the Market
The major reason behind the development of fish meal and fish oil is due to the increasing government support within the country. The total covered area of 220 nautical miles under EEZ (Exclusive Economic Zone) where the US has control over all the marine natural resources. This large area provides a huge opportunity for the marine industry which ultimately results in the growth of fish meal and fish oil market in the country.
According to the International Fishmeal and Fish Oil Organization (IFFO) report 2017, the total amount of fish meal production by the country amounted to be 211 thousand metric tons in 2017 and total fish oil production amounted to be 74 thousand metric ton for the same year. The report further added that the fish oil production is anticipated to register an average yield of 7.5% during the forecast period. The report has further forecasted a 5% growth in the fish oil and fish meal production in the United States for 2018. This represents a positive scenario for the market in the country. Alaskan Pollock, a type of marine fish, accounted for the high production of fish oil with an average yield of 10% for the year 2017.
Due to this, the overall production of fish oil in the country was stable in 2017. Furthermore, the total Pelagic fishmeal accounted to be 67,500 metric tons in the United States for the period of 2017. These marine fish accounts for a major share in the fish meal and fish oil market.
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 Species Type
5.1.1 Salmon & trout
5.1.2 Crustaceans
5.1.3 Marine fish
5.1.4 Carps
5.1.5 Tilapias
5.1.6 Others
5.2 Application
5.2.1 Poultry
5.2.2 Swine
5.2.3 Poultry
5.2.4 Aquatic Animals
5.2.5 Others
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 South America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/u4816c
