IMARC Group’s latest report, titled “Fish Meal Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the fish meal market size reached US$ 6.64 Billion in 2020. Fish meal refers to ground powder or feed ingredient made from the cooked flesh of fish. Species such as sardines, anchovy, capelin, menhaden, cod and haddock are some of the major fish meal sources. Fish meal contains a high level of proteins, lipids and minerals and is also rich in essential fatty acids (EFAs), digestible energy and vitamins. Nowadays, fish meal is available in the form of cakes and powder and helps provide high nutritional value for enhanced growth of livestock.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fish Meal Market Trends:
The global fish meal market is primarily driven by the increasing demand for naturally sourced high-quality seafood products. The growing awareness regarding the health benefits associated with the consumption of fish meal, such as mitigating disease outbreaks, stimulating reproduction and boosting metabolism, is also contributing to the market growth. Furthermore, the rising cases of chronic disorders due to the intake of lead, mercury, and cadmium during conventionally cultured seafood has shifted the preference of farmers toward fish meal, which serves as a natural protein source for aquatic animals. Furthermore, growing environmental concerns and rapid industrialization of meat and dairy production are escalating the demand for fish meal. On account of these factors, the market is expected to reach US$ 9.69 Billion by 2026, exhibiting a CAGR of 8.10% during the forecast period (2021-2026).
- Based on the raw material, the market has been categorized into whole fish, by-product from wild capture, and by-product from aquaculture. At present, whole fish represents the most popular raw material used in fish meals.
- On the basis of the species, the market has been classified into marine (Anchovy, Sandeel, Menhaden, Sprat and others) and trimming. Marine species currently hold the majority of the overall market share.
- The market has been divided based on the application into aquaculture (crustaceans, salmon and trout, marine fish, tilapias, and others), swine, poultry, and others. Amongst these, aquaculture is the largest application segment.
- Region-wise, the market has been segregated into Peru, Scandinavia (Denmark, Norway, and Iceland), China, Thailand, Chile, the United States, Vietnam, Japan, and others.
- The competitive landscape of the market has been examined, with some of the key players being 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.
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