Fish Meal Market Size, Share & Demand Analysis, 2032
IMARC Group has recently released a new research study titled “Fish Meal Market Report by Type (Whole Fish, By-Product from Wild Capture, By-Product from Aquaculture), Species (Marine, Trimming), Application (Aquaculture, Swine, Poultry, and Others), and Region 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global fish meal market size is expected to exhibit a growth rate (CAGR) of 6.98% during 2024-2032.
Global Fish Meal Market Trends:
The escalating demand for high-quality animal feed is a key driver for the growth of the fish meal market. The increasing use of fish meal as a protein-rich ingredient in feed for aquaculture, poultry, and swine, particularly in developing regions, is a significant growth catalyst. Innovations in fish meal production, focusing on improved nutritional content and sustainability, are further boosting its market appeal.
Additionally, the rising awareness of the health benefits associated with fish meal, coupled with its expanding application in pet food, supports market expansion. The global availability and diversification of fish meal products, meeting various industry requirements, are also contributing to its widespread market adoption.
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Factors Affecting the Growth of the Fish Meal Industry:
· Rising Demand in Aquaculture and Poultry Industries:
The growth of the fish meal market is significantly driven by its high demand in the aquaculture and poultry industries. Fish meal is a preferred protein source in fish and shrimp feed due to its high protein content and essential amino acids, which are vital for the healthy growth of aquatic species.
In the poultry industry, fish meal is used to enhance the nutritional value of feed, improving the growth and overall health of poultry. The expansion of these industries, particularly in emerging economies, is escalating the demand for fish meal.
Moreover, the increasing global consumption of fish and poultry products due to their health benefits and rising protein consumption trends further bolsters the demand for fish meal as a key ingredient in animal feed.
· Environmental and Sustainability Concerns:
The fish meal market faces challenges due to environmental and sustainability concerns. Overfishing to meet the demand for fish meal poses a significant threat to marine ecosystems and biodiversity. There is growing awareness and concern among consumers and regulatory bodies about the environmental impact of fish meal production, leading to stricter fishing regulations and quotas. These concerns are prompting the industry to look for sustainable fishing practices and alternative sources of protein.
Additionally, the rise in aquaculture practices that focus on reducing the environmental footprint and promoting eco-friendly feed alternatives is influencing the market dynamics, with a gradual shift towards more sustainable and less ecologically damaging sources of fish meal.
· Fluctuations in Fish Catch and Price Volatility:
The fish meal market is highly sensitive to fluctuations in fish catch, which can be affected by various factors such as climate change, oceanic conditions, and regulatory policies on fishing quotas. These fluctuations lead to price volatility in the fish meal market, making it challenging for manufacturers and end-users to manage costs and supplies effectively. Climate change impacts fish populations and migration patterns, affecting the availability of key fish species used for fish meal production.
The uncertainty and inconsistency in fish catch volumes directly influence the price and availability of fish meal, posing a significant challenge to the stability and predictability of the market. This unpredictability can impact the decision-making processes of feed manufacturers and farmers, affecting the overall demand and supply balance in the market.
Fish Meal Market Report Segmentation:
By Raw Material:
· Whole Fish
· By-Product from Wild Capture
· By-Product from Aquaculture
Based on raw material, the market is segmented into whole fish, by-product from wild capture and by-product from aquaculture.
By Species:
Marine
· Anchovy
· Sandeel
· Menhaden
· Sprat
· Others
Trimming
By species, the market is divided into marine (anchovy, sandeel, menhaden, sprat, others) and trimming.
By Application:
Aquaculture
· Crustaceans
· Salmon and Trout
· Marine Fish
· Tilapias
· Others
Swine
Poultry
Others
Aquaculture represented the largest segment in the fish meal market because fish meal is a high-quality protein source and essential nutrient for farmed fish, making it a crucial component in aquafeeds.
Regional Insights:
Peru
Scandinavia
· Denmark
· Norway
· Iceland
China
Thailand
Chile
United States
Vietnam
Japan
Others
Peru emerged as the largest market for fish meal due to its extensive coastline and productive marine ecosystem, which supports large-scale fishing activities.
Competitive Landscape with Key Players:
The competitive landscape of the fish meal market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· 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
Ask Analyst for Customized Report:
https://www.imarcgroup.com/request?type=report&id=3517&flag=C
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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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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