Fish Meal Market Size 2024 To 2032
- The global fish meal market size is expected to exhibit a growth rate (CAGR) of 6.98% during 2024-2032.
- On the basis of the raw material, the market has been segmented into whole fish, by-product from wild capture and by-product from aquaculture.
- Based on the species, the market has been bifurcated into marine (anchovy, sandeel, menhaden, sprat, and others) and trimming.
- Aquaculture represents the leading application segment spurred by growing fish farming practices and increasing protein demand.
- Peru leads the market with its extensive fishery resources and efficient processing capabilities.
- The growth of the fish meal market is driven by the rising trend of fish-based pet food products, as pet owners increasingly seek high-quality, protein-rich diets for their animals.
- Additionally, advancements in processing technologies have enhanced the efficiency and quality of fish meal production, making it more attractive to feed manufacturers.
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Industry Trends and Drivers:
- Rising demand for aquaculture:
The rapid growth of aquaculture has significantly boosted the fish meal market. With the global population increasing and seafood consumption rising, aquaculture provides a sustainable solution to meet the growing demand for fish. Fish meals serve as a high-protein feed ingredient for farmed fish species, contributing to their growth and overall health.
This trend is especially pronounced in regions like Asia, where countries such as China, India, and Indonesia dominate fish production. As aquaculture practices continue to expand, the demand for fish meal as a vital component of feed formulations is expected to increase, driving market growth.
- Increasing awareness of nutritional benefits:
Fish meals are recognized for its high protein content and rich supply of essential amino acids, vitamins, and omega-3 fatty acids, which are crucial for both aquatic and terrestrial animals. The growing awareness of these nutritional benefits among livestock and poultry producers is prompting a shift toward incorporating fish meal into animal feeds. This is particularly relevant in the context of livestock health, as protein-rich diets can enhance growth rates, improve efficiency, and promote better health outcomes.
Furthermore, as consumers become more health-conscious and seek protein sources that contribute to overall well-being, the demand for fish meal in human food products, such as dietary supplements and health foods, is also rising.
- Sustainable fishing practices:
The emphasis on sustainability in fishing practices is reshaping the fish meal market. Consumers, retailers, and regulators are increasingly advocating for sustainably sourced seafood products. This trend has prompted fish meal producers to adopt responsible sourcing practices and pursue certifications that demonstrate environmental stewardship. Sustainable fish meal production not only ensures the longevity of fish populations but also meets the growing demand for eco-friendly products among consumers. As sustainability becomes a key purchasing criterion, the fish meal market is likely to benefit from heightened interest and support for responsibly sourced fish meal, reinforcing its role in aquaculture and animal feeds.
Fish Meal Market Report Segmentation:
Breakup By Type:
- Whole Fish
- By-Product from Wild Capture
- By-Product from Aquaculture
On the basis of the raw material, the market has been segmented into whole fish, by-product from wild capture, and by-product from aquaculture.
Breakup By Species:
Marine
- Anchovy
- Sandeel
- Menhaden
- Sprat
- Others
Trimming
Based on the species, the market has been bifurcated into marine (anchovy, sandeel, menhaden, sprat, and others) and trimming.
Breakup By Application:
Aquaculture
- Crustaceans
- Salmon and Trout
- Marine Fish
- Tilapias
- Others
Swine
Poultry
Others
Aquaculture dominates the fish meal market due to the increasing demand for sustainable and high-protein feed for farmed fish, driving significant consumption of fish meal.
Breakup By Region:
Peru
Scandinavia
- Denmark
- Norway
- Iceland
China
Thailand
Chile
United States
Vietnam
Japan
Others
Peru's abundant fish resources and its significant production of fish meal, primarily from anchovy, position it as the leading player in the global fish meal market.
Top Fish Meal Market Leaders:
The fish meal market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- Austral Group S.A.A
- Copeinca
- Corpesca S.A. (Empresas Copec S.A)
- FF Skagen A/S
- Omega Protein Corporation (Cooke Inc)
- Pesquera Diamante S.A. (Diamond Fishing)
- Pesquera Exalmar S.A.A
- Pesquera Hayduk SA
- Tasa
- TripleNine Group
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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