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Fish Meal Market: Segmented: By Application (fertilizers, feed and others); By Livestock (poultry, swine, ruminants, aquatic animals and others); By Source (salmon and trout, marine fish, crustaceans, tilapia and others); By Region (North America, Europe, Asia-pacific and rest of the world)- Analysis of market size, share & trends for 2016-19 and forecasts to 2030
Fish Meal Market is expected to exceed USD 16,276.67 billion by 2030 from USD 9,340.66 million in 2016 at a CAGR of 7.8% throughout the forecast period, i.e., 2020-2030.
A fish meal is a commercial product made out of fish that is generally not used for human consumption. Fishmeal is commonly used to feed farm animals and as fertilizer. Fishmeal is made out of bones and offal leftover of the fish, caught by commercial fisheries, which is then dried and crushed into powder and cake.
Fish Meal Market is expected to project a CAGR of 7.8% during the forecast period, 2020-2030
The global fishmeal market is estimated to grow on the back of the following reasons. Fishmeal is rich in calcium, protein, crude fiber, and amino acids which can be easily digested by the livestock, even by the aquatic animals. Moreover, it contains plenty amount of other vital minerals and fatty acids which are essential for the growth and development of various livestock. Additionally, fishmeal is a rich source of organic nitrogen and hence is extensively used as fertilizer as it accelerates the growth of plants. Thus, increasing demand for protein in animal feed is going to drive the growth of the global fishmeal market.
Based on livestock
it is divided into ruminants, swine, poultry, aquatic animals, and others.
Based on the source
it is segmented as salmon and trout, anchovy, marine fish, menhaden, capelin, pilchard, tilapia, sand eel, and others. The oily fish species is a profitable source as it is high in protein and useful for making fishmeal and fish oils.
Increasing demand for organic nitrogen
Fishmeal is rich in organic nitrogen and hence is being demanded by the agricultural sector to ensure the healthy and fast growth of the crops.
Rising awareness of health
Since people are now more aware of health and want to boost their immunity naturally they are opting for more organic solutions. Fishmeal and fish oil are rich sources of amino acids, proteins, and omega-3 catalyzing the demand for innovative health supplements both for infants and adult consumers.
Price Volatility
Volatility concerning the prices of fishmeal products is one of the major restraints that is expected to hamper the growth of the Global Fishmeal Market in the upcoming years. However, a steady increase in the prices of raw materials (fish) is going to decrease the demand for Fishmeal products.
Global Fish Meal Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and Middle-East& Africa. At present, Asia-Pacific holds a major share in the global market. Europe is the second-most market-leading region after the Asia Pacific. Germany, Italy, France, and Switzerland are the countries with major consumption in the European region.
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Fish Meal Market size was estimated at USD 9,340.66 million in 2020 and is expected to reach USD 6,276.67 million by 2030.
Oceana Group Ltd (South Africa), FMC Corporation(US), Austevoll Seafood ASA(Norway), Omega Protein Corporation(US), Empresas COPEC S.A. (Chile), Sarma Fish S.A.R.L. (Morocco), Alpha Atlantique (Morocco), Novus International Inc(US), Calysta Inc(US)
the source and livestock segment are anticipated to hold the largest Food Service Equipment Market
Drivers: Increasing demand for organic nitrogen and Rising awareness of health
A fish meal is a commercial product made out of fish that is generally not used for human consumption. Fishmeal is commonly used to feed farm animals and as fertilizer.
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