Fishmeal Global Market Report 2023
Major players in the fishmeal market are Aker Biomarine Antarctic AS, Alpha Atlantique, Animalfeeds International Corporation, Austevoll Seafood ASA, Biomega AS, Oceana Group Limited, Omega Protein Corporation, Pioneer Fishing (Pty) Ltd.
New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fishmeal Global Market Report 2023" - https://www.reportlinker.com/p06426511/?utm_source=GNW
, Sarma Fish S.A.R.L, Pesquera Diamante S.A. (Diamond Fishing), Pesquera Exalmar S.A.A, Pesquera Hayduk SA, FF Skagen A/S, Pelagia AS, Orizon SA, Sardina D.O.O, Austral Group S.A.A, Corporacion Pesquera Inca S.A.C., and Copeinca S.A.C.
The global fishmeal market grew from $7.92 billion in 2022 to $8.53 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The fishmeal market is expected to grow to $10.62 billion in 2027 at a CAGR of 5.6%.
The fishmeal market consists of sales of pout, sand eel, sprat, sardine, pilchard, sauries, mackerels.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The fishmeal that are used as animal feed, aqua feed, livestock feed supplement, and fertilizer due to their high protein concentration, vitamins, and minerals.Fishmeal refers to coarsely ground powder primarily made from small leftover pelagic or oceanic fish, bones, and organ flesh pulverized into a meal.
Fishmeal is obtained in cake or powder form after drying and milling raw or trimmed fish.
Asia-Pacific was the largest region in the fishmeal market in 2022. The regions covered in the fishmeal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of livestocks in fishmeal are ruminants, poultry, swine, aquatic animals, and other livestock.The livestock fishmeal is used as fertilizer in vegetable gardens, flowerbeds, outdoor plants, trees, and shrubs.
Fishmeal fertilizers are high in nutrition, amino acids, and vitamins, and are an excellent source of nitrogen and phosphorus that are used to increase root and leaf growth and improve soil structure. The different sources include salmon and trout, marine fish, carps, crustaceans, tilapia, and other that are used in fertilizers, animal feed, and other applications.
The growth of the aquaculture industry is expected to propel the growth of the fishmeal market going forward.Aquaculture is the practice of harvesting fish shellfish, and aquatic plants (algae, for example) in fresh, salt, and brackish waterways.
Aquaculture is used to provide food, rebuild populations of endangered species, replenish natural stocks, and restore habitats of water-based species.Due to the huge demand for seafood and the decreasing annual catch of wild fish, aquaculture is predicted to grow which in turn increases the demand for the fishmeal market.
For instance, according to the Food and Agriculture Organization of the United Nations, a US-based specialized agency that leads international efforts to defeat hunger and improve nutrition and food security, in 2020, global production of aquatic animals reached 88 million tonnes and aquaculture accounted for 49% of the total aquatic animal’s production. Additionally, in 2020, aquaculture production consisted of 87.5 million tonnes of aquatic animals mostly for use as human food, and 35.1 million tonnes of seaweed and other algae for both food and non-food uses. Therefore, the growth of the aquaculture industry is driving the demand for the fishmeal market.
Innovative fishmeal products are gaining popularity as a major trend in the fishmeal market across the world.Major companies operating in the fishmeal sector are introducing new products in the market to comply with the growing demand for new and nutrition-rich fishmeal for animals.
For instance, in July 2022, Interpet, a UK-based fish-keeping, and aquarium care company launched Blagdon Fit & Wild Pond Sticks, a new recipe food for pond fish under the Blagdon brand made from insects and small crustaceans.Blagdon Fit & Wild Pond Sticks are free of fishmeal and include protein sources including mealworm meal, daphnia, bloodworms, and black soldier fly larvae which are more similar to what fish would consume in the wild.
This product is created in order to provide fish with the greatest and most natural diet possible to help keep them fit and healthy.
In June 2022, Koppernaes Protein AS, a Norway-based marine and infrastructure business company acquired TripleNine Group for an undisclosed amount.The acquisition is aimed to follow a long-term strategy to offer sustainable food to consumers and continue to actively develop this business area in the near future.
TripleNine Group is a Denmark-based feed ingredient manufacturer company that produces a fish protein, and oils.
The countries covered in the fishmeal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fishmeal market research report is one of a series of new reports that provides Fishmeal market statistics, including fishmeal industry global market size, regional shares, competitors with fishmeal market share, detailed Fishmeal market segments, market trends, and opportunities, and any further data you may need to thrive in the fishmeal industry. This fishmeal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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