The Business Research Company’s report on the Fishmeal Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the fishmeal market in recent years?
The growth of the aquaculture industry is expected to propel the growth of the fishmeal market going forward. Aquaculture is the practice of harvesting fish shellfish, and aquatic plants (algae, for example) in fresh, salt, and brackish waterways. Aquaculture is used to provide food, rebuild populations of endangered species, replenish natural stocks, and restore habitats of water-based species. Due to the huge demand for seafood and the decreasing annual catch of wild fish, aquaculture is predicted to grow which in turn increases the demand for the fishmeal market For instance, in August 2022, according to the Food and Agriculture Organization of the United Nations, a US-based specialized agency that leads international efforts to defeat hunger and improve nutrition and food security, 2022, global production of fisheries and aquaculture production reached increased to 223.2 million tons, of which 185.4 million tons (live weight) are aquatic animals (fish, crustaceans and mollusks such as mussels and squid) and 37.8 million tons (wet weight) are algae. Therefore, the growth of the aquaculture industry is driving the demand for the fishmeal market.
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What is the projected market size of the fishmeal industry, and how is it expected to grow?
The fishmeal market size has grown strongly in recent years. It will grow from $8.88 billion in 2024 to $9.42 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased global demand for aquaculture and animal feed, growth in the livestock and poultry industries, rise in awareness of the nutritional benefits of fishmeal, expansion of commercial fishing and processing activities, need for high-protein and nutrient-rich animal feeds, demand for fishmeal in pet food and specialty feed industries.
The fishmeal market size is expected to see strong growth in the next few years. It will grow to $11.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of fishmeal as a source of omega-3 fatty acids in functional foods, emphasis on sustainable and responsible fishing practices, research and development in alternative protein sources for animal feed, need for nutrient-dense feeds in animal husbandry and farming, expansion of fishmeal applications in nutraceutical and pharmaceutical industries, growing demand for organic and non-gmo certified fishmeal products. Major trends in the forecast period include advanced processing technologies, focus on omega-3 fatty acids, fortification of animal feeds, innovations in fishmeal quality assurance, bioactive compounds and functional additives.
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Who are the key players driving competition 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 key trends are expected to drive the fish powder market during the forecast period?
Innovative fishmeal products are gaining popularity as a major trend in the fishmeal market across the world. Major companies operating in the fishmeal sector are introducing new products in the market to comply with the growing demand for new and nutrition-rich fishmeal for animals. For instance, in July 2022, Interpet, a UK-based fish-keeping, and aquarium care company launched Blagdon Fit & Wild Pond Sticks, a new recipe food for pond fish under the Blagdon brand made from insects and small crustaceans. Blagdon Fit & Wild Pond Sticks are free of fishmeal and include protein sources including mealworm meal, daphnia, bloodworms, and black soldier fly larvae which are more similar to what fish would consume in the wild. This product is created in order to provide fish with the greatest and most natural diet possible to help keep them fit and healthy.
Which key geographies are driving the growth of 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.
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What are the key segments driving growth in the 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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How is the fishmeal market defined, and what are its core characteristics?
Fishmeal refers to a coarsely ground powder primarily made from small leftover pelagic or oceanic fish, bones, and organ flesh pulverized into a meal. Fishmeal is obtained in cake or powder form after drying and milling raw or trimmed fish. The fishmeal that is used as animal feed, aquafeed, livestock feed supplement, and fertilizer is due to its high protein concentration, vitamins, and minerals.
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