Overview and Scope
Fishmeal and fish oil refers to the protein-rich byproducts of small forage fish or low trophic level species. Fish meal is a coarsely ground powder made from whole fish and the bones and offal from processed fish. Fish meal is made by cooking, drying, pressing, and grinding fish in machinery designed for that purpose. Fish oil is a type of oil derived from the tissues of oily fish. It has docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA), and two omega-3 fatty acids.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the fishmeal and fish oil market share in 2023. The regions covered in the fishmeal & fish oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the fishmeal & fish oil market report are FMC Corporation, Austevoll Seafood ASA, Croda International plc, Oceana Group Ltd., Omega Protein Corporation, The Scoular Company, GC Rieber Oils AS, Sürsan Su Ürünleri, TASA – Tecnologica de Alimentos SA, Corpesca SA, FF Skagen A/S, Orizon SA, Pioneer Fishing (Pty) Ltd., TripleNine Group A/S, Pesquera Exalmar SAA, Complex International SAS, Mukka Sea Food Industries, BASF SE, Pelagia AS, Diamante SA, HAYDUK Corporation, Coomarpes SA, Animal Feeds International Corporation, Kodiak Fishmeal Company, African Pioneer Group, Copeinca ASA, Rongcheng Blue Ocean Marine Bioengineering Co. Ltd., KT Group Ltd., Blue Gulf Seafoods Co. Ltd., Havsbrún ehf, China Fishery Group Limited
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
5. Global Fishmeal & Fish Oil Market Size and Growth
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26. South America Fishmeal & Fish Oil Market
27. Brazil Fishmeal & Fish Oil Market
28. Middle East Fishmeal & Fish Oil Market
29. Africa Fishmeal & Fish Oil Market
30. Fishmeal & Fish Oil Market Competitive Landscape And Company Profiles
Top Major Players:
- FMC Corporation
- Austevoll Seafood ASA
- Croda International PLC
- Oceana Group Ltd
- Omega Protein Corporation
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