The Fish Meal Industry sales study offers a comprehensive analysis on diverse features including production capacities, Fish Meal demand, product developments, sales revenue generation and Fish Meal market outlook across the globe.
market research report by Fact.MR, (Leading business and competitive intelligence provider) on global Fish Meal market sales initiates with an outlook of the market, followed by the scrutiny of the demand and consumption volumes and share and size of various end-use segments
Expanding at a CAGR of 7%, the global fish meal market is predicted to increase from a valuation of US$ 5.6 billion in 2023 to US$ 11 billion by the end of 2033. Consumption of crustaceans is projected to rise faster than the overall market average at a CAGR of 7.5% owing to rapidly rising demand from the dietary supplements industry.
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The readability score of the Fish Meal market demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Fish Meal market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Fish Meal along with key stakeholders as well as emerging players associated with the manufacturing of product.
The Key trends Analysis of Extended Fish Meal market also provides dynamics that are responsible for influencing the future sales and demand of over the forecast period.
Key Trends:
- Sustainability and Responsible Sourcing: There was a growing awareness and emphasis on sustainable fishing practices and responsible sourcing of fish for fish meal production. Consumers and regulatory bodies were increasingly concerned about overfishing and its impact on marine ecosystems.
- Alternative Protein Sources: Due to concerns about the environmental impact of traditional fish meal production, there was a rising interest in alternative protein sources for animal feed, such as plant-based proteins and insect-based proteins. These alternatives aimed to reduce the reliance on fish meal in livestock and aquaculture feeds.
- Increasing Aquaculture Demand: The aquaculture industry continued to drive demand for fish meal, as it is a crucial component in many aquafeed formulations. As the global demand for seafood, particularly from aquaculture, continued to rise, so did the demand for fish meal.
- Quality and Traceability: Quality assurance and traceability became increasingly important in the fish meal industry. Consumers and food safety authorities demanded greater transparency in the sourcing and production of fish meal products.
- Technological Advancements: Innovations in processing technologies aimed to improve the efficiency of fish meal production and reduce waste. This included advances in drying and processing methods.
- Regional Production Shifts: There were shifts in the production of fish meal from traditional hubs like Peru to other regions, such as Southeast Asia. This was influenced by changes in fish stocks and regulations.
- Price Volatility: The fish meal market was subject to price fluctuations due to factors like changes in fish stocks, weather patterns, and fluctuations in demand from aquaculture and livestock industries.
- Government Regulations: Regulatory changes, including stricter environmental regulations and quotas on fish catches, influenced the fish meal market. These regulations often impacted the availability and cost of fish for fish meal production.
- Rising Demand in Pet Food: The use of fish meal in premium pet food formulations increased, reflecting a broader trend of pet owners seeking high-quality and protein-rich diets for their pets.
- Global Trade Dynamics: The fish meal market was influenced by global trade dynamics, including trade disputes and tariffs, which could impact the availability and pricing of fish meal in different regions.
Key Companies Profiled
- Omega Protein Corporation
- Copeinca
- TripleNine
- Orizon SA
- Pesquera Diamente S.A.
- Biomega AS
- Animal Feeds International Corporation
- Pesquera Hayduk SA
- Oceana Group Limited S.A.
- Empresas Copec S.A.
- Sardina D.O.O
Competitive Landscape
The use of creative marketing methods is enabling fish meal suppliers to grow at a rapid pace. Top producers of fish meal have sought to raise knowledge about the health advantages of products made from marine by-products such as fish meal by investing appropriately at each step of product development.
For instance :
- Biomega AS, a global fish oil and fish meal producer, will extend its operations by investing in a biorefinery in Denmark. This facility expansion is intended to drive salmon-derived product development, assisting the company in establishing a strong presence in the fish meal industry.
Key Segments Covered in Fish Meal Industry Research
- By Product :
- Crustaceans
- Crabs
- Lobsters
- Crayfish
- Shrimps
- Prawns
- Krill
- Woodlice
- Barnacles
- Cyprinids
- Tuna
- Tilapia
- Swordfish
- Salmons
- Milkfish
- Catfish
- Trout
- Marine Fish
- Eels
- Mollusos
- By Nature :
- Organic Fish Meal
- Conventional Fish Meal
- By Application :
- Animal Feed
- Aqua Feed
- Poultry
- Pharmaceuticals
- Dietary Supplements
- Fertilizers
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Crustaceans
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