Fishmeal Fish Oil Market Size, Share, Growth, and Industry Analysis, By Type (Salmon and trout, Marine fish, Crustaceans, Tilapias and Carps), By Application (Animal Feed and Nutrition, Food and Beverage Industry, Nutraceutical Industry and Others) and Regional Forecast to 2033

FISHMEAL FISH OIL MARKET REPORT OVERVIEW

The global fishmeal fish oil market size was USD 12782.16 million in 2024 and is projected to touch USD 32022.41 million by 2033, exhibiting a CAGR of 9.62% during the forecast period.

Fishmeal and Fish Oil are two of the golden products out of the processing of fish or fishery by-products. In particular, they are being implemented in many areas of the economy especially in the animal feed sector, fish farming and in the nutritional support products.

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COVID-19 Impact

"Market Growth restrained by the Pandemic due to Disruptions in Supply Chain"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Impact of Covid on fish processing plants was therefore attributed to shut-downs due to Lockdowns, reduced physical contact due to social distancing and shortage of workers. This extended to fishmeal and fish oil industries whereby most of the plants operated at low capacity or shut their doors temporarily. This was especially on the global transportation and logistics implying that transportation of raw materials and finished products was sometimes arrested and in some cases delayed. This was more constrictive in the supply chain especially for those ccounting areas that relied on the importation of the raw materials.

LATEST TRENDS

"Increasing Demand from Aquaculture to Propel Market Growth"

Expansion of the aquaculture industry in different parts of the globe is fostering the demand for good quality fish meal and fish oil. Global and especially Asia-Pacific region has witnessed a rise in aquaculture production both for food and other uses, to meet this need there is a necessity to include fishmeal and fish oil because of the quality feed. What has emerged is the feed conversion efficiency as a driving force towards improved growth rates in aquaculture and at the same time conserving the environment. This will be achieved through improving feeding practice where it involves the use of fishmeal and fish oil in feeds hence greater and more efficient utilization of these inputs.

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FISHMEAL FISH OIL MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Salmon and trout, Marine fish, Crustaceans, Tilapias and Carps.

• Salmon and Trout- This feed is mostly applied in the fish farming industry particularly in feeding carnivorous fish such as salmon, trout and other quality fish. It is also applied in production of pet food for cats and dogs, to act as their valuable source of protein.

• Marine Fish- They are widely recommended in feed formulations for both freshwater and marine fish including shrimp, salmon among others. The latter is also applied in poultry and livestock feed mixtures owing to the high nutrient richness of the product.

• Crustaceans- Especially applied in specialty feeds, in feeding of shrimps and other premium species in aquaculture systems. Due to the presence of chitin, it is useful to the immune system of farmed animals. It is also used in pet food particularly to compliment the color and/or health of ornamental fish.

• Tilapias- Its use is most prevalent in the aquaculture feeds especially the feeds that is given to fish that are known to feed on other small fish and vegetarian fish such as tilapia, carp and catfish. It can also be used in poultry and livestock feeds in the form of protein supplement.

• Carps- Mostly applied in fish feeds especially for the carp and the other freshwater fishes. It is also an economically viable source of protein and the various parts of animals can be added to feed formulation for livestock.

By Application

Based on application the market can be categorized into Animal Feed and Nutrition, Food and Beverage Industry, Nutraceutical Industry and Others.

• Animal Feed and Nutrition- Fish meal and fish oil are critical ingredients in aquaculture feed mix because they provide high biological value amino acids and other Essential Fatty Acid, including EPA and DHA required for immediate growth, general wellbeing and reproductive purpose of the species under culture.

• Food and Beverage Industry- Currently fish oil is being more used in the food and beverages industry for the purpose of fortifying foods with Omega 3 fatty acids. Fortified products include margarine, dairy products, baked products and those that are in the beverage category.

• Nutraceutical Industry- In the nutraceutical market, fish oil is utilized and ingested in significant proportion in the form of capsules, soft gels etc. The products are highly enriched with omega 3 fatty acids especially EPA & DHA which is associated with better heart health, cognitive health and reduced inflammation.

Driving Factor

"Rising Health Awareness and Demand for Omega-3 Fatty Acids to Drive Market Advancement"

One of the key Driving Factors in the Fishmeal Fish Oil Market growth is the Rising Health Awareness and Demand for Omega-3 Fatty Acids. Population gain and changing consumer focus on health in terms of consumption of Omega 3 fatty acids are key growth driving forces in the fishmeal and fish oil market. With the increased awareness of consumers on the health aspect, there is awareness of the several health benefits accruing from omega-3 fatty acids, especially EPA and DHA. These omega three fatty acids which majorly originate from fish oil have been found to have benefits on the heart, brain and the body’s response to inflammation.

"Increasing Demand for Animal Feed to Expand the Market"

The demand for fishmeal and fish oil is constantly rising especially in the production of animal feed since the ingredients add value and improve on the nutritional value of feeds necessary for livestock production. With increased livestock and pet farming across the world there is growing demand for good quality protein that would enhance growth and productivity. Fishmeal, containing easily digestible proteins and amino acids, is among the important feedstuffs for poultry, pigs and other ruminant animals to enhance feed conversion efficiency and productivity.

Restraining Factor

"Overfishing of wild fish stocks to Market Growth"

Some of the main threats affecting the fishmeal and fish oil market include the availability of the resources required to feed fish through putting in place systems of producing fishmeal and fish oil through wild fish stocks mostly via overfishing. Small, oily fish of the sort which tend to swim in large, dense schools, are captured and converted into fishmeal and fish oil using their raw materials of the remains of wild fish that is mainly made up of small ost fished species such as anchovies and sardines. Over fishing reduces such fish stocks thus reducing the supply of these raw materials to fish meal /fish oil industries.

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FISHMEAL FISH OIL MARKET REGIONAL INSIGHTS

The Market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market due to Established Aquaculture Industry"

Asia Pacific has emerged as the most dominant region in the Fishmeal Fish Oil Market share due to a convergence of factors that propel its leadership in this dynamic industry. Currently the Asia-Pacific area is identified to play a leading role in the consumption of fish meal and fish oil mainly because of the increased emphasis on aquaculture. This area, especially the countries like China, Vietnam, and India among others is the largest consumer of the fishmeal and fish oil since it has the largest aquaculture industry which depends on fishmeal and fish oil as the main feed ingredients. Their hi profiles have placed Asia-Pacific ahead in the market since it is growing at a fast pace in aquaculture production, and its population requires more protein from animal feeds.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Fishmeal Fish Oil Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the Fishmeal Fish Oil market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of  Fishmeal Fish Oil.

List of Market Players Profiled

• TripleNine(Denmark)
• Croda(K.)
• Nordic Naturals(S.)
• Austevoll Seafood(Norway)
• Oceana(S.)

INDUSTRIAL DEVELOPMENT

Feb 2022: The Scoular Company which is from the United States unveiled a new fishmeal plant in Myanmar in order to expand its processing capacity in the country. This launch was as a result of the increasing demand in the consumption of fishmeal in Myanmar and some other Asian countries.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.