According to the current analysis of Reports and Data, the fishmeal & fish oil market was valued at USD 8.87 Billion in 2019 and is expected to reach USD 15.8 Billion by 2027 at a CAGR of 8.8%. Fishmeal is the flour processed out of the fish after milling and drying the fish and its selective body parts, whereas animal oil is that the brown or yellow liquid extracted out by pressing the cooked fish. The fishmeal & fish oil are majorly utilized as an additive within the animal and fish feeds. Both fishmeal and animal oil are employed as high protein ingredients within the feeds given to farmland animals and farmed fishes. Fish oil is majorly utilized in the farm fish feeds with a minor share used in land animal feeds.
Moreover,
fishmeal isn't fed directly (undiluted) to the animals as a feed additive. It
has to be added in animal feeds by following typical inclusion rates for
fishmeal, which vary among different feeds. The assembly of fishmeal and animal
oil utilizes different species of fishes. However, oily fish species like
anchoveta fish are usually used.
Fish
meal is considered an exceptional source of protein for all farmed and aqua
cultured animals. It is rich in essential amino acids, particularly lysine,
cysteine, methionine, and tryptophan, which are key limiting amino acids for
growth and productivity in the notable farmed species. Animal health is
improved with fish meal and fish oils in their diet. The inclusion of fish meal
& fish oil in animal feed results in improved production efficiencies
across all major farmed species. It has the potential for the dietary
manipulation of tissue/product composition to produce 'healthier' foods for use
in the human food chain. The waste products of animals fed fish meal and fish
oil contain less nitrogen and phosphorus, reducing the environmental impact of
effluent disposal Fish meal is a commercial product obtained from bones of
wild-caught small marine fishes. The procedure includes fish trimmings or
drying fish and then crushing it.
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Competitive
Landscape:
The research
report offers details about leading companies in the global Fishmeal & Fish
Oil market along with global position, financial standing, license agreement,
products and services portfolio and revenue contribution of each market player.
Key players in the market are focusing on adopting various strategies such as
mergers and acquisition, business expansion plans, new product launches,
partnerships, collaborations, joint ventures to enhance their product base and
gain robust footing in the market.
Market
Dynamics:
Increasing consumer
inclination towards functional, organic and probiotic-based food & drinks
is providing impetus to the growth of global food and beverage industry.
Various studies have come with health benefits associated with “ethnic” and
organic food products. These foods improve cardiovascular health, improves
arthritis, digestive issues, and other inflammatory conditions. Consumers are
gradually focusing on mindful eating and consuming food for health and
wellness. Changing eating and dietary patterns of consumers is prompting brand
owners and new entrants to introduce healthy foods options. Several clean-label
products have been introduced in the market and consumer curiosity for new
products is immense
Growing
middle class consumers with rising income in developing countries such as India
and China will boost food & beverage market growth. Moreover, increasing
consumer preference for procuring food and beverage items from online platforms
due to variety, cost and time-saving will foster market size through 2027.
Some of the Leading Market Players Are Listed Below:
· Austevoll
Seafood ASA (Norway),
· Croda
International Plc. (U.K.),
· Oceana
Group Limited (South Africa),
· FMC
Corporation (U.S.),
· Omega
Protein Corporation (U.S.),
· Tasa
(South Africa),
· Marvesa
Oils & Fats B.V. (Netherlands)
· GC
Rieber Oils AS (Norway).
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Market Segmentation:
Fishmeal & Fish Oil Market Segmentation based On the basis of source:
- Salmon &
trout
- Crustaceans
- Marine fish
- Carps
- Tilapias
- Others (eels,
crabs, and lobsters)
Fishmeal & Fish Oil Market Segmentation based On the basis of livestock
application:
- Aquatic
animals
- Poultry
- Swine
- Cattle
- Pets
- Others
(equine and other marine species)
Fishmeal & Fish Oil Market Segmentation based On the basis of industrial
application:
- Aquaculture
- Pharmaceuticals
- Fertilizers
Fishmeal & Fish Oil Market Segmentation based on Regions:
·
North
America (U.S., Canada, Mexico)
·
Europe
(Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
·
Asia
Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
·
Latin
America (Brazil, Rest of Latin America)
·
Middle
East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East &
Africa)
Key
Features of the global Fishmeal & Fish Oil Market:
·
The
report offers detailed estimations at the regional level with manufacturers,
consumption, sales and import/export dynamics.
·
The
report provides accurate details related of the manufacturers/vendors in the
market, company overview, pricing analysis, financial standing, product
portfolio, and gross profit of leading companies.
·
Company
profiling with prevalent expansion strategies, revenue generation, and recent
developments.
·
Optimum
strategic initiatives for new players in the market.
·
Manufacturing
processes, suppliers, cost, rates of production and consumption, transport mode
and cost structuring, and value chain analysis.
·
The
study also includes supply chain trends, including elaborate descriptions of
the latest technological development
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