Fishmeal and Fish Oil Market Size, Industry Share, Analysis, Forecast, 2032

Fishmeal and Fish Oil Market Size

[170+ Pages Research Report] Fishmeal & Fish Oil Market to surpass USD 12.5 billion by 2032 from USD 8.48 billion in 2021 at a CAGR of 6.5% throughout the forecast period 2022-32

Fish meal is a powder obtained after cooking, drying, pressing, and milling fresh raw fish, whereas fish oil is a liquid extracted from the cooked fish. Fishmeal is used as feed for aquaculture and cattle animals since it is a great source of protein. When fatty fish is turned into meal, fish oil is produced. The oil is entirely marine and contains a lot of omega-3 fatty acids. Oil is a source of energy for customers in meals. Fish, mammals, and birds can develop and get fatter with the help of this oil. They are obtained from the harvesting of fleeting, quickly expanding stocks of bony, tiny, and oily fish for which there is little to no demand for human food.

Market Highlights

The Fishmeal & Fish Oil Market is expected to project a notable CAGR of 6.5% in 2032.

Fishmeal & Fish Oil Market to surpass USD 12.5 billion by 2032 from USD 6.23 billion in 2021 at a CAGR of 6.5% in the coming years, i.e., 2022-32. The demand for fishmeal and fish oil is driven by rising consumer awareness of the possible health benefits provided by fish oil and fishmeal products in animal feed. Moreover, the substantial increase in poultry and cow populations is creating considerable commercial potential for fishmeal and fish oil producers. This is projected to fuel the growth of the Fishmeal & Fish Oil Market.

Figure - Market Analysis of Fishmeal & Fish Oil Market

Get More Information - Download Free Sample

Fishmeal & Fish Oil Market: Segments

The Crustaceans segment is expected to grow with a higher CAGR during 2022-32

Fishmeal & Fish Oil Market is categorized on the basis of Source into Salmon & Trout, Marine Fish, Crustaceans, Tilapia, and Carps. The crustaceans segment is leading the Fishmeal & Fish Market among others. Fishmeal and fish oil are widely used in the diet of crustaceans as they are the main sources of dietary protein. Fishmeal makes up a substantial portion of crustacean meal, which is expected to witness considerable development opportunities throughout the anticipated period. This is also due to the increased demand for seafood worldwide, particularly lobster and shrimp.

The Pharmaceuticals segment is expected to grow with a higher CAGR during 2022-32

Fishmeal & Fish Oil Market is categorized on the basis of Application into Aquaculture & Aquatic Feeds, Land Animal Feeds and Livestock, Agriculture and Fertilizers, Pharmaceuticals, and Dietary Supplements. The Pharmaceuticals segment is projected to witness a major share of the Fishmeal & Fish Oil Market. Fishmeal and fish oil are becoming more widely accepted and used in the pharmaceutical sector due to their favorable reputation and high nutrient content, as well as increased public knowledge of personal health and nutrition.

Figure - Market Analysis of Global Fishmeal & Fish Oil

Get More Information - Download Free Sample

Market Dynamics

Growth Drivers

Increasing Adoption of Pets and Growing Focus on Pet Health and Nutrition

The growing trend of pet humanization is rising, which is boosting the demand for premium pet food ingredients and goods that offer several health benefits. Along with expanding awareness and disposable income among pet owners, spending on ingredients for pet food with a health focus is also rising. More and more fish oil products are being used in pet food products to improve the development, health, growth, and nutrition of animals. The pet food market will continue to create large economic prospects for fishmeal and fish oil producers since the emphasis on pet health and nutrition is gaining momentum. Over the forecast period, these factors are anticipated to drive the Fishmeal & Fish Oil Market.

Rising Application of Fishmeal and Growing Aquaculture Industry

The Fishmeal & Fish Oil Market is also being driven by the expanding use of fishmeal in fertilizers and animal feed for livestock and aquaculture. The improved use of by-products from the fish processing industry and the quickening growth of alternative raw material sources are expected to lead to increased output of fishmeal and fish oil in the future. The need for fish and animal feed additives will therefore be driven in the next years by the aquaculture industry's continued growth.

Restraint

Growing Unsustainable Fishing Practices and Use of Feed Ingredients Substitutes

Unsustainable fishing techniques like juvenile fishing, have greatly increased, particularly in India, and have presented a serious danger to fish supplies in recent years as the income from fishmeal and fish oil products has continuously scaled. The increasing use of feed ingredients substitutes and microbial contamination in aquafeed may also provide further difficulties for the growth of the Fishmeal & Fish Oil Market.

Recent Developments

The Scoular Company (US), in February 2022, opened a new fishmeal facility to enhance manufacturing capacity in Myanmar. This creation ultimately increased the demand for fishmeal in Myanmar and other Asian nations.
FKS Multi Agro (Indonesia), stated in October 2020 that it would invest USD 234 million, which it raised as a loan from multiple local and foreign institutions as part of its ambitious development ambitions to expand its animal feed business and strengthen its distribution system throughout the nation.

Fishmeal & Fish Oil Market: Key Players

Cargill Incorporated

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

BASF SE
Austevoll Seafood
FMC Corporation
Corpesca S.A.
Croda International Plc
Omega Protein Corporation
Orizon
OCEANA GROUP LIMITED
Copeinca
FF Skagen A/S
The TASA Group
GC Rieber Oils AS
Pesquera Exalmar
Pioneer Fishing
Other Prominent Players

Fishmeal & Fish Oil Market: Regions

Fishmeal & Fish Oil Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific currently holds a major market share of the Fishmeal & Fish Oil Market due to the growth of the aquaculture industry. The increased use of fish meal and fish oil will also contribute to the market growth in the area during the projection period.

Get More Information - Download Free Sample

Impact of Covid-19 on Fishmeal & Fish Oil Market

During the COVID-19 pandemic, the market scenario of the Fishmeal & Fish Oil Market was completely changed. The salmon industry was directly impacted by social isolation policies, travel restrictions, and company closures. As the majority of firms were currently operating at reduced capacity, the businesses experienced a considerable decline in earnings.

Fishmeal & Fish Oil Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Fishmeal & Fish Oil Market report also contains analysis on:

Fishmeal & Fish Oil Market Segments:

By Source
- Salmon & Trout
- Marine Fish
- Crustaceans
- Tilapia
- Carps
By Type
- Fish Oil
- Fishmeal
By Application
- Aquaculture & Aquatic Feeds
- Land Animal Feeds and Livestock
- Agriculture and Fertilizers
- Pharmaceuticals
- Dietary Supplements
Fishmeal & Fish Oil Market Dynamics
Fishmeal & Fish Oil Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Fishmeal & Fish Oil Market Report Scope and Segmentation

REPORT ATTRIBUTE	DETAILS
Market Size Value in 2021	USD 6.23 billion
Revenue Forecast in 2032	USD 12.5 billion
Growth Rate	CAGR of 6.5% from 2022 to 2032
Base Year for Estimation	2021
Quantitative Units	Revenue in USD billion and CAGR from 2022 to 2032
Report Coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered	Source, Type, Application, and Region
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key Companies Profiled	Cargill Incorporated, BASF SE, Austevoll Seafood, FMC Corporation, Corpesca S.A., Croda International Plc, Omega Protein Corporation, Orizon, OCEANA GROUP LIMITED, Copeinca, FF Skagen A/S, The TASA Group, GC Rieber Oils AS, Pesquera Exalmar, Pioneer Fishing, and Other Prominent Players.

Frequently Asked Questions (FAQ):

The Fishmeal & Fish Oil Market size was estimated at USD 6.23 billion in 2021 and is expected to reach USD 12.5 billion in 2032.

Fish meal is a powder obtained after cooking, drying, pressing, and milling fresh raw fish, whereas fish oil is a liquid extracted from the cooked fish.

The Crustaceans and Pharmaceuticals segments accounted for the larger share of the Fishmeal & Fish Oil Market.

Key players in the Fishmeal & Fish Oil Market are Cargill Incorporated, BASF SE, Austevoll Seafood, FMC Corporation, Corpesca S.A., Croda International Plc, Omega Protein Corporation, Orizon, OCEANA GROUP LIMITED, Copeinca, FF Skagen A/S, The TASA Group, GC Rieber Oils AS, Pesquera Exalmar, Pioneer Fishing, and Other Prominent Players.

The demand for fishmeal and fish oil is driven by rising consumer awareness of the possible health benefits provided by fish oil and fishmeal products in animal feed.