What Has Been the Progress and Growth of the Fishmeal Market in Recent Years?
The fishmeal market has seen considerable growth due to a variety of factors.
• Recently, there has been robust growth in the fishmeal market size. The market is anticipated to expand from $8.88 billion in 2024 to $9.42 billion in 2025, registering a compound annual growth rate (CAGR) of 6.2%.
The growth recorded in the historic period is largely due to the increasing worldwide demand for aquaculture and animal feed. Other contributing factors include the growth of livestock and poultry sectors, heightened awareness regarding the nutritional value of fishmeal, the expansion of commercial fishing and processing activities, the requirement for animal feeds rich in protein and nutrients, and the demand for fishmeal in the pet food and specialty feed industries.
What Can Be Expected from the Fishmeal Market in the Coming Years?
The fishmeal market is expected to maintain its strong growth trajectory in upcoming years.
• The fishmeal market is poised for robust expansion in the approaching years, with an expected value of $11.93 billion in 2029 and a compound annual growth rate (CAGR) of 6.1%.
This estimated growth during the forecast period is linked to the increased utilization of fishmeal as an omega-3 fatty acids source in functional foods, a focus on sustainable and responsible fishing practices, investment in research and development for alternative protein sources for animal food, the requirement for nutrient-rich feeds in animal husbandry and agriculture, the broadened use of fishmeal in the nutraceutical and pharmaceutical sectors, and the escalating demand for organic and non-gmo certified fishmeal products. For the forecast period, key trends include cutting-edge processing technologies, a spotlight on omega-3 fatty acids, animal feed fortification, innovation in quality assurance of fishmeal, and bioactive compounds and functional additives.
What Main Forces Are Fueling Expansion In The Fishmeal Market?
The escalation of the fishmeal market is anticipated due to the projected expansion of the aquaculture sector. Engaging in the farming of fish, shellfish, and underwater flora like algae in a variety of water conditions defines aquaculture. It serves to supply food, repopulate endangered species, refill natural reserves, and rehabilitate habitats for aquatic species. Owing to the substantial requirement for seafood and the declining yearly haul of wild fish, a surge in aquaculture, and subsequently fishmeal market, is foreseen. For instance, according to data provided by the Food and Agriculture Organization of the United Nations in August 2022, a specialist group based in the U.S. aimed at conquering starvation and boosting nutrition and food security, worldwide production for fisheries and aquaculture ascended to 223.2 million tons in 2022. Herein, 185.4 million tons refer to live aquatic creatures like fish, crustaceans, and mollusks such as mussels and squid, and 37.8 million tons relate to algae. Hence, the escalating aquaculture sector is stimulating the fishmeal market's growth.
What Are The Primary Segments In The Global Fishmeal Market?
The fishmeal market covered in this report is segmented –
1) By Livestock: Ruminants, Poultry, Swine, Aquatic Animals, Other Livestock
2) By Source: Salmon and Trout, Marine Fish, Carps, Crustaceans, Tilapia, Other Sources
3) By Application: Fertilizers, Animal Feed, Other Applications
Subsegments:
1) By Ruminants: Beef Cattle, Dairy Cattle
2) By Poultry: Broilers, Layers, Turkeys
3) By Swine: Weaner Pigs, Grower-Finisher Pigs
4) By Aquatic Animals: Farmed Fish, Shrimp And Other Shellfish
5) By Other Livestock: Goats, Sheep, Horses
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Which Key Trends Are Driving Changes In The Fishmeal Market?
The upward trend of creative fishmeal products is becoming increasingly significant in the global fishmeal market. Companies who are significant players in this sector are bringing new offerings to the table, meeting the increasing demand for fresh and nutrient-rich fishmeal for wildlife. In July of 2022 for example, Interpet, a British enterprise specializing in fish-keeping and aquarium care, unveiled their new product under the Blagdon brand called Blagdon Fit & Wild Pond Sticks. These are developed from insects and small crustaceans. The Blagdon Fit & Wild Pond Sticks, which are fishmeal-free, contain protein sources such as mealworm meal, daphnia, bloodworms, and black soldier fly larvae, mimicking the natural diet of fish. The aim is to supply fish with the best and most authentic diet to ensure their health and vitality.
Who Are the Key Players in the Fishmeal Market?
Major companies operating in the fishmeal market include:
• Aker Biomarine Antarctic AS
• Alpha Atlantique
• Animalfeeds International Corporation
• Austevoll Seafood ASA
• Biomega AS
• Oceana Group Limited
• Omega Protein Corporation
• Pioneer Fishing (Pty) Ltd.
• Sarma Fish S.A.R.L
• Pesquera Diamante S.A.
• Pesquera Exalmar S.A.A
• Pesquera Hayduk SA
• FF Skagen A/S
• Pelagia AS
• Orizon SA
• Sardina D.O.O
• Austral Group S.A.A
• Corporacion Pesquera Inca S.A.C. Copeinca S.A.C.
• Croda International PLC
• TASA Pvt. Ltd.
• Corpesca SA
• Colpex International S.A.
• Triplenine Group A/S
• Pescanova SA
• Pilmifresh S.A.
What Is The Most Dominant Region In The Fishmeal Market?
Asia-Pacific was the largest region in the fishmeal market in 2024. The regions covered in the fishmeal market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
