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.
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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.
Major factors driving the growth of the global fishmeal & fish oil market include the growing trend of trading fishmeal & fish oil and increasing demand for quality fish worldwide. Additionally, the ever-increasing demand for aquaculture in export markets impacts the supply of superior fishmeal & fish oil for animal feed. However, global fishmeal production in 2019 declined by 27% compared to 2018, while global fish oil production was 24% less in the key producing countries. Peruvian fishmeal production in 2019 reached 7, 96,384 tons declined by 43.3% compared to 2018. This reduction was mainly accredited to the lower quota of anchovies observed for the first season and early closure of the second season.
In Europe, landings of small pelagics were slightly weaker in 2019. Thus, the combined fishmeal output in Norway and Denmark fell by approximately 7%. From the demand side, with restaurant & hotel closures and trade being completely cut off in various countries, there is a lesser demand for farmed fish and the need for feed. On the bright side, COVID-19 now seems to be under better control in China. Given the enormous Chinese demand for fishmeal & fish oil when the pig farming and aquaculture sectors return to normal, fishmeal trade will recover soon. As an interim measure, fishmeal & fish oil market prices are likely to increase due to scarce raw material supply coupled with global transport disruptions caused by COVID-19.
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Further key findings from the report suggest
- According to IFFO (The Marine Ingredients Organization), 81% of global fish oil production went to aquaculture, and 68% went to salmonids. Production of fishmeal & fish oil has remained comparatively stable. Nevertheless, the introduction of increased use for direct human consumption and precautionary quotas has reduced the volume of whole fish going for fishmeal & fish oil.
- Among the source segments, salmon & trout fish segment accounts for the largest revenue share of the global fishmeal & fish oil market of about 42.6% as the salmon & trout fish growers have augmented their salmon & trout cultivation to meet the rising demand of customers across the globe.
- Among the industrial application segments, the pharmaceuticals segment leads with the largest revenue share of the global fishmeal & fish oil market. It occupied a share of about 37.8%/ Fish oil is used in pharmaceutical industries as it provides EPA and DHA, which play a vital role in neurological development and mental health. Also, due to rising concerns associated with the prevalence of chronic diseases, fish oil is widely consumed in the form of Omega-3 fatty acids to maintain health and prevent cardiovascular diseases.
- By region, Asia-Pacific accounted for a notable share in the global fishmeal & fish oil market in 2019 with a market share of about 39.2% and is projected to continue its dominance during the analysis period due to rapid development of aquaculture, and increasing usage of fishmeal & fish oil in countries of this region. Besides, the European fishmeal & fish oil market is expected to witness a surge in growth due to rising fishmeal & fish oil usage in developing innovative additives that provide nutrients to livestock through their feed.
The key players within the fishmeal & fish oil market are:
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) and GC Rieber Oils AS (Norway).
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Segments covered in the report:
- This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the fishmeal & fish oil market trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data have segmented Fishmeal & Fish Oil market on the basis of livestock application, industrial application, source and region:
On the basis of source (Revenue, USD Million; 2017-2027)
- Salmon & trout
- Marine fish
- Others (eels, crabs, and lobsters)
On the basis of livestock application (Revenue, USD Million; 2017-2027)
- Aquatic animals
- Others (equine and other marine species)
On the basis of industrial application (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Rest of Latin America
Key Questions addressed in the global fishmeal & fish oil market Report:
- What revenue CAGR is the global fishmeal & fish oil market expected to register over the forecast period?
- What is the expected market size of global fishmeal & fish oil market in coming years?
- Who are the leading companies operating in the global fishmeal & fish oil market?
- What are the key factors fueling global fishmeal & fish oil market growth?
- Which region is projected to dominate other regions in the global fishmeal & fish oil market during the forecast period?
- What are the key restraints that can hamper growth of the global fishmeal & fish oil market?
- What are the key outcomes of 5 force analysis of the global fishmeal & fish oil market?
Table of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017 – 2027
Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. Global food and beverages: Industry Snapshot
3.1.2. Demand from emerging economies
3.1.3. Rise in per capita disposable income
Chapter 4. Fish Meal & Fish Oil Market Segmentation & Impact Analysis
4.1. Fish Meal & Fish Oil Segmentation Analysis
4.2. Fish Meal & Fish Oil Market Impact Analysis
4.2.1. Market driver analysis
126.96.36.199. Increasing Incorporation of Fishmeal & Fish Oil in Swine and Poultry Diets
188.8.131.52. Health Benefits of Fish Meal & Fish Oil
184.108.40.206. Improving Productivity and Environmental Performance of Aquaculture
4.2.2. Market restraint analysis
220.127.116.11. The higher temperatures and droughts
4.2.3. Market opportunity analysis
4.3. Regulatory framework
4.4. Porter’s Five Force Analysis
4.4.1. Threat of New Entrants
4.4.2. Threat of Substitutes
4.4.3. Bargaining Power of Suppliers
4.4.4. Bargaining Power of Customers
4.4.5. Competitive Rivalry
4.5. Fish Meal & Fish Oil PESTEL Analysis
4.6. Porters Five Forces Model
Chapter 5. Fish Meal & Fish Oil Market by Source Insights & Trends
5.1. Source Dynamics & Market Share, 2017 & 2027
5.2. Salmon & Trout
5.2.1. Market estimates and forecast, 2017 – 2027 (USD Million)
5.2.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million)
5.3. Marine Fish
5.3.1. Market estimates and forecast, 2017 – 2027 (USD Million)
5.3.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million)
5.4.1. Market estimates and forecast, 2017 – 2027 (USD Million)
5.4.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million)
5.5.1. Market estimates and forecast, 2017 – 2027 (USD Million)
5.5.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million)
5.6.1. Market estimates and forecast, 2017 – 2027 (USD Million)
5.6.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million)
5.7.1. Market estimates and forecast, 2017 – 2027 (USD Million)
5.7.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million)
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