The Fishmeal & Fish Oil Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fishmeal & Fish Oil Global Market Report 2024, The fishmeal & fish oil market size has grown strongly in recent years. It will grow from $9.63 billion in 2023 to $10.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increase in global fish consumption, nutritional benefits in animal feed, globalization of seafood trade, development of sustainable fishing practices, fishery by-product utilization..
The fishmeal & fish oil market size is expected to see strong growth in the next few years. It will grow to $13.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to continued growth in aquaculture, rising demand for nutraceuticals, innovation in alternative protein sources, increasing prevalence of hairfall, regulatory standards and certifications.. Major trends in the forecast period include technological advances in processing, research on nutritional requirements, development of algal-based omega-3 products, integration of traceability systems, advancements in sustainable feed formulations..
The increasing health consciousness among people is expected to boost the fish meal and fish oil market. Health consciousness is a measure of how much people care about their health. There is an increase in concern about health in people due to changing lifestyles. Fish is a high-quality, low-fat protein. Omega-3 fatty acids and vitamins D and B2 are abundant in fish (riboflavin). A healthy diet should include fish at least twice a week, due to which the demand for fish meals and fish oil is increasing. For instance, in October 2022, according to SWNS, a UK-based news agency company, A poll by Nutrisystem and OnePoll found that over 70% of Americans are more conscious of their physical health post the COVID pandemic. Therefore, the increasing health consciousness among people is driving the growth of the fish meal & fish oil market.
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The fishmeal & fish oil market covered in this report is segmented –
1) By Type: Steam Dried (SD), Flame Dried (FD)
2) By Source: Salmon And Trout, Marine Fish, Crustaceans, Tilapia, Carps, Other Sources
3) By Application: Aquaculture And Aquatic Feeds, Land Animal Feeds And Livestock, Agriculture And Fertilizers, Pharmaceuticals, Dietary Supplements, Other Applications
Strategic partnership is a key trend in the fishmeal and fish oil market. Major players are entering into a partnership to leverage each other’s resources and sustain themselves in the market. For instance, in October 2022, Algorithm, a US-based company providing omega-3 solutions, partnered with Natures Crops International, a US-based manufacturer of specialty plant oils. Through this partnership, both companies created two new omega oil combinations for use as supplements, food, and drink ingredients. These novel mixtures, called Ahiflower 80DHA and 150DHA, are the only vegan sources of omegas that provide the broadest range of omegas with excellent sensory qualities. The association aims to offer various pollock fish products and advertising campaigns in the respective markets.
The fishmeal & fish oil market report table of contents includes:
1. Executive Summary
2. Fishmeal & Fish Oil Market Characteristics
3. Fishmeal & Fish Oil Market Trends And Strategies
4. Fishmeal & Fish Oil Market – Macro Economic Scenario
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31. Global Fishmeal & Fish Oil Market Competitive Benchmarking
32. Global Fishmeal & Fish Oil Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fishmeal & Fish Oil Market
34. Fishmeal & Fish Oil Market Future Outlook and Potential Analysis
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