The Global Fishmeal Market accounted for $6.26 billion in 2017 and is expected to reach $11.96 billion by 2026 growing at a CAGR of 7.4% during the forecast period.
Growing demand for naturally sourced protein additives in animal feed, rising consumption of fish as a main food in different regions and increasing number of individuals inclined towards non-vegetarian dishes are some of the key driving factors for the market growth. However, high cost fluctuations and rising substitutes of fishmeal products are some of the factors hindering the market growth.
Moreover, the market players have enough opportunity to come up with new and improved products which is going to boost the share of fishmeal in the global market.
Fishmeal is a commercial product mainly made from fish that are not used for human consumption. Fish meal is more or less coarse brown flour. It is available in powder or cake obtained by drying the fish or fish trimmings, regularly after cooking, and then grinding it. In addition, it is a valuable animal protein supplement and a supply of vitamins and minerals.
By end user, the aquaculture section is currently the fastest growing food production systems globally. Fishmeal into diets of aquatic animals assists to decrease pollution from the wastewater effluent by providing better nutrient digestibility. The aquaculture segment is further categorized into salmon & trout, cyprinids, crustaceans, marine fish and Other Aquacultures. By application, the animal feed segment is anticipated to radiate high market attractiveness and is projected to register a high CAGR and is likely to show dominance over the forecast period in the global market.
By geography, Europe is anticipated to dominate the market due to the high demand of aqua culturing. Asia Pacific excluding Japan commanded the highest market share during the forecast period.
Some of the key players profiled in the Fishmeal Market include
- Ff Skagen A/S
- Oceana Group Limited S.A.
- Sarma Fish S.A.R.L
- Calysta, Inc.
- Animalfeeds International Corporation
- Alpha Atlantique
- Novus International Inc.
- The Scoular Company
- Sardina D.O.O.
- Austevoll Seafood ASA
- Empresas Copec
- Biomega AS
- Pioneer Fishing Pty Ltd.
- Omega Protein Corporation
- Triplenine Group A/S
- Aker BioMarine Antarctic AS
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