Fishmeal Market Outlook

Fishmeal Market Size was valued at USD 8459.5 million in 2021. The market industry is projected to grow from USD 9093.96 million in 2022 to USD 15087.33 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period (2022–2030). Fishmeal is a high-protein feed ingredient made from the whole bodies of small fish, such as anchovies, sardines, and menhaden. It is a valuable source of protein and other nutrients for aquaculture and livestock production.

The aquaculture industry is the largest consumer of fishmeal, accounting for over 70% of the global demand. The growth of the aquaculture industry is driven by the increasing demand for seafood, as it is a good source of protein and other nutrients. the increasing demand for animal protein is another major driver of the fishmeal market. The global demand for animal protein is expected to grow due to the growing population and the increasing affluence of consumers in developing countries. Fishmeal is a valuable source of protein for livestock, such as poultry, pigs, and cattle.

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The growing concerns about food security is also contributing to the growth of the fishmeal market. Fishmeal is a sustainable source of protein, as it is produced from fish that are not typically consumed by humans.

The fishmeal market is segmented by region, application, and fish type. The region segment is further divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for fishmeal, followed by Europe and North America. The growth of the Asia Pacific market is driven by the growing aquaculture industry in the region.

The application segment is further divided into aquaculture feed, livestock feed, and others. The aquaculture feed segment is the largest segment, accounting for most of the market share. This is due to the high demand for fishmeal market outlook in the aquaculture industry.

The fish type segment is further divided into small fish, large fish, and bycatch. The small fish segment is the largest segment, accounting for most of the market share. This is since small fish are typically used to produce fishmeal.

The fishmeal market is a highly competitive market, with several major players operating in the market. Some of the key players include Nutrien Ltd., Cargill, Inc., and The Scoular Company. These companies are constantly innovating and developing new products and technologies to meet the growing demand for fishmeal.

The fishmeal market is expected to continue to grow in the coming years, driven by the factors mentioned above. The market is expected to witness significant growth in Asia Pacific, due to the growing aquaculture industry in the region.

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