The fishmeal & fish oil market is projected to grow at a CAGR of 8.50% from 2017, to reach USD 14.28 Billion by 2022. The increase in consumption of seafood and the growing aquaculture industry are resulting in market growth for fishmeal & fish oil, globally.
On the basis of livestock application, the aquatic animals segment accounted for the largest share in the fishmeal & fish oil market in 2016. Aquatic animals are fed more fishmeal & fish oil due to their high content of essential nutrients, such as amino acids, essential fatty acids, and energy content.
On the basis of source, the salmon & trout segment accounted for the largest market for fishmeal & fish oil in 2016. Fishmeal is generally manufactured from wild-caught, small fish such as salmon & trout that contain a high percentage of bones & oil.
On the basis of industrial application, the pharmaceuticals segment is projected to grow at a higher growth rate in the global fishmeal & fish oil market from 2017 to 2022. Fish oil provides EPA and DHA, which play a vital role in neurological development and mental health. The rising concerns of chronic diseases among consumers result in increased consumption of fish oil with Omega-3 in various health supplements and functional foods.
The European region is projected to be the fastest-growing market for fishmeal & fish oil between 2017 and 2022. The European market experiences the maximum consumption of fishmeal & fish oil due to the increased consumption of seafood and flexibility in using secondary raw materials. Key players focus on research & development to develop innovative fishmeal & fish oil additives that provide nutrients such proteins, minerals, and vitamins to livestock through their feed.
The major challenge for the fishmeal & fish oil industry is the availability of alternative feed ingredients and microbial contamination. In addition, price volatility of raw materials is also a challenge for this market. The major consequences of the rising prices of ingredients are a shortage in the local supply of fish and unsecured future food supply.
Austevoll Seafood ASA (Norway)
Copeinca ASA (Norway)
Corpesca SA (Chile)
Croda International PLC. (U.K)
FF Skagen A/S (Denmark)
FMC Corporation (U.S.)
GC Rieber Oils (Norway)
Marvesa (The Netherlands)
Mukka Sea Food Industries Pvt. Ltd (India)
Oceana Group Limited (South Africa)
Omega Protein Corporation (U.S)
Pesquera Exalmar S.A.A (Denmark)
Pioneer Fishing (South Africa)
Scoular Company (U.S)
Triplenine Group (Peru)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Fishmeal & Fish Oil Market, By Source
8 Fishmeal & Fish Oil Market, By Livestock Application
9 Fishmeal & Fish Oil Market, By Industrial Application