Global Fish Meal Market to Grow at 6.98% During 2024-2032, Accelerated by Increasing Consumption of High-Quality Seafood Products

March 27, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled "Fish Meal Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," finds that the global fish meal market is expected to exhibit a CAGR of 6.98% during the forecast period (2024-2032). Fish meal is a high-protein feed ingredient made from different parts of fish that are not intended for human consumption. It is a good source of protein, amino acids, vitamins, and minerals, and can help improve the growth and productivity of the fishes. It is produced from high oil-containing species of fish, such as sardine, anchovy, capelin, and menhaden, and the quality can vary depending on the processing methods and storage conditions. 

Global Fish Meal Market Trends:

At present, the burgeoning aquaculture sector and increasing number of pescatarians represent one of the key factors positively influencing the market across the globe. In addition, the increasing demand for high-quality seafood products, rising awareness about the benefits of consuming seafood, and changing dietary patterns of people are creating a favorable market outlook. Apart from this, the rising environmental concerns about the negative impact of chemical-based feed additives on the aquatic ecosystem are catalyzing the demand for naturally-sourced alternatives. Moreover, the incorporation of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), for improved packaging, transparent supply chain management, feed safety compliance monitoring, and effective cleaning, along with the advancement in methods for measuring the quality of aquafeeds throughout the manufacturing process, are strengthening the market growth. Furthermore, inflating disposable incomes and easy availability of fish-based products through online and offline distribution channels in stimulating the market growth worldwide.

Market Summary:

  • On the basis of the raw material, the market has been segmented into whole fish, by-product from wild capture and by-product from aquaculture.
  • Based on the species, the market has been bifurcated into marine (anchovy, sandeel, menhaden, sprat, and others) and trimming.
  • On the basis of the application, the market has been classified into aquaculture (crustaceans, salmon and trout, marine fish, tilapias, and others), swine, poultry, and others. Aquaculture currently accounts for the biggest market share.
  • Region-wise, the market has been segregated into Peru, Scandinavia (Denmark, Norway, and Iceland), China, Thailand, Chile, United States, Vietnam, Japan, and others. Amongst these, Peru enjoys the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Austral Group S.A.A, Copeinca, Corpesca S.A. (Empresas Copec S.A.), FF Skagen A/S, Omega Protein Corporation (Cooke Inc), Pesquera Diamante S.A. (Diamond Fishing), Pesquera Exalmar S.A.A, Pesquera Hayduk SA, Tasa, and Triplenine Group.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million Tons
Segment Coverage Raw Material, Species, Application, Country
Countries Covered Peru, Scandinavia (Denmark, Norway, Iceland), China, Thailand, Chile, United States, Vietnam, Japan, Others
Companies Covered Austral Group S.A.A, Copeinca, Corpesca S.A. (Empresas Copec S.A), FF Skagen A/S, Omega Protein Corporation (Cooke Inc), Pesquera Diamante S.A. (Diamond Fishing), Pesquera Exalmar S.A.A, Pesquera Hayduk SA, Tasa and TripleNine Group
Customization Scope 10% Free Customization
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Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Fish Meal Market to Grow at 6.98% During 2024-2032, Accelerated by Increasing Consumption of High-Quality Seafood Products
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