The Global Fishmeal Market is anticipated to be US$ 10.80 Billion in 2030, according to the report. Fishmeal has been a key player in the expansion and intensification of aquaculture on a global scale, making it an essential component of aquaculture feeds. With the increasing demand for fish production, the need for nutritious and high-quality feeds became paramount. Fishmeal emerged as a valuable ingredient due to its exceptional nutritional composition. It is rich in essential amino acids, minerals, and omega-3 fatty acids, making it an ideal protein source for farmed fish.
By incorporating fishmeal into aquaculture feeds, farmers have been able to achieve efficient growth and development in their fish populations. The inclusion of fishmeal ensures that fish receive the necessary nutrients to thrive and reach their full potential. Fishmeal's contribution to the aquaculture story cannot be overstated. It has paved the way for the development of feeds that support the sustainable intensification of aquaculture operations worldwide.
Environmental concerns also contribute to the demand for fish meal as a naturally-sourced alternative to chemical-based feed additives. With increasing awareness of the negative impacts of chemical additives on the aquatic ecosystem, there is a growing preference for sustainable and environmentally-friendly options like fish meal.
The presence of heavy metals such as mercury, lead, and cadmium in conventionally-cultured seafood has raised concerns about high prevalence of numerous chronic disorders to consumer health. This has further propelled the market for fish meal, as it provides a safer alternative for feed production, reducing the risk of consuming contaminated seafood.
The industrialization of meat and dairy production has boosted the demand for high-grade feed additives like fish meal. These additives are utilized to stimulate reproduction, enhance metabolism, and mitigate disease outbreaks in livestock. As the meat and dairy industries continue to grow, the need for effective feed ingredients intensifies.
Norway, the fastest growing country in the global fishmeal market, benefits from a robust aquaculture industry and abundant fish resources. The country's focus on research and development has led to technological advancements in fishmeal production. Government support through subsidies and incentives further strengthens Norway position as a leader in the fishmeal market.
China, the largest global consumer of fishmeal, accounted consumption volume of less than 2 million metric tons in 2022, according to the report. The country's thriving aquaculture industry, driven by increasing seafood demand, government support, and abundant resources, fuels its continuous expansion. Supportive government policies, such as subsidies, research investments, and seafood promotion, create a favourable environment for industry growth and contribute to the growing demand for fishmeal.
Tilapia, a versatile freshwater fish, has significant potential in the global fishmeal market due to its adaptability, suitability for aquaculture in developing countries, and high protein content. The growing demand for aquaculture products and seafood as a protein source is driving the expansion of tilapia production. Its sustainability attributes and advancements in technology further boost its growth in the global fishmeal market.
In February 2022, FMC announced that it had entered into a strategic partnership with Cargill to develop and commercialize new aquaculture nutrition products. This partnership will combine FMC's expertise in fishmeal and fish oil with Cargill's global reach and distribution network.
By incorporating fishmeal into aquaculture feeds, farmers have been able to achieve efficient growth and development in their fish populations. The inclusion of fishmeal ensures that fish receive the necessary nutrients to thrive and reach their full potential. Fishmeal's contribution to the aquaculture story cannot be overstated. It has paved the way for the development of feeds that support the sustainable intensification of aquaculture operations worldwide.
The fish meal Industry is experiencing significant growth due to multiple factors.
The expanding aquaculture industry and the rising demand for high-quality seafood products are driving the demand for fish meal. As aquaculture continues to grow, the need for nutritious feed ingredients becomes crucial, and fish meal is recognized for its nutritional value.Environmental concerns also contribute to the demand for fish meal as a naturally-sourced alternative to chemical-based feed additives. With increasing awareness of the negative impacts of chemical additives on the aquatic ecosystem, there is a growing preference for sustainable and environmentally-friendly options like fish meal.
The presence of heavy metals such as mercury, lead, and cadmium in conventionally-cultured seafood has raised concerns about high prevalence of numerous chronic disorders to consumer health. This has further propelled the market for fish meal, as it provides a safer alternative for feed production, reducing the risk of consuming contaminated seafood.
The industrialization of meat and dairy production has boosted the demand for high-grade feed additives like fish meal. These additives are utilized to stimulate reproduction, enhance metabolism, and mitigate disease outbreaks in livestock. As the meat and dairy industries continue to grow, the need for effective feed ingredients intensifies.
Global fishmeal market is expected to grow at a CAGR of 5.14% between 2022 and 2030
Consumer preferences for fishmeal are evolving as environmental and ethical awareness increases. The demand for sustainable and ethically sourced fishmeal is rising, with consumers willing to pay extra for such products. Key references include sustainability, ethics, quality, and value. Consumers seek responsibly sourced fishmeal that does not harm animals or the environment, meet safety standards, and offers good value. In response, the global fishmeal market is adopting sustainable practices, investing in R&D, and enhancing traceability. Adapting to these preferences is crucial for industry competitiveness, and companies meeting consumer demands will thrive.Peru holds a prominent position as the leading producer in the global fishmeal market
By Production, the global fishmeal market is classified into Peru, Vietnam, EU-27, Chile, China, Thailand, United States, Norway, Japan, and Morocco. Peru, the world's largest fishmeal producer, accounted for producing 2.28 million metrictons (MMT) of fishmeal, as reported by the International Fishmeal and Fish Oil Organization (IFFO), in 2022. This versatile product is utilized in aquaculture feed, poultry feed, and pet food, providing essential nutrition to farmed fish, marine animals, chickens, turkeys, and pets like dogs and cats. With increasing demand for aquaculture products and a growing global population, the demand for fishmeal is anticipated to maintain its upward trajectory, driving further growth in the Peruvian fishmeal industry in the foreseeable future.Norway, the fastest growing country in the global fishmeal market, benefits from a robust aquaculture industry and abundant fish resources. The country's focus on research and development has led to technological advancements in fishmeal production. Government support through subsidies and incentives further strengthens Norway position as a leader in the fishmeal market.
Turkey robust aquaculture industry is playing a pivotal role in driving the country rising consumption within the global fishmeal market
By Consumption, the global fishmeal market is broken up into China, EU-27, Vietnam, Japan, Norway, Thailand, Turkey, United States, Chile, and Taiwan. Turkey leads the global fishmeal market in consumption growth, driven by its expanding aquaculture industry supported by increasing seafood demand, government support, and favorable resources. With a decline in domestic fish catch, Turkey relies heavily on imported fishmeal to meet its aquaculture sector's protein requirements. Economic growth and rising disposable incomes contribute to the growing demand for quality seafood products and, subsequently, fishmeal. The Turkish government's policies, including subsidies, research and development investments, and seafood promotion, further bolster the aquaculture industry expansion and drives fishmeal demand.China, the largest global consumer of fishmeal, accounted consumption volume of less than 2 million metric tons in 2022, according to the report. The country's thriving aquaculture industry, driven by increasing seafood demand, government support, and abundant resources, fuels its continuous expansion. Supportive government policies, such as subsidies, research investments, and seafood promotion, create a favourable environment for industry growth and contribute to the growing demand for fishmeal.
China is poised to retain its position as the largest importer of fishmeal globally, maintaining its significant role in the market for the foreseeable future.
By Import, the global fishmeal market is fragmented into China, EU-27, Turkey, Japan, Norway, Vietnam, Taiwan, Indonesia, United Kingdom, and the Republic of Korea. China, the largest global fishmeal importer, owes its position to rapid economic growth that has driven a surge in fishmeal demand, mainly for aquaculture purposes. Simultaneously, declining domestic fish stocks resulting from overfishing and environmental degradation have escalated the need for imports. To bolster the aquaculture industry, the Chinese government has implemented supportive policies, including subsidies for fishmeal imports. Moreover, China's advantageous geographic location near major fishmeal producers like Peru and Chile facilitates convenient and cost-effective importation.Russian Federation is poised to flourish as a key player in the export segment of the global fishmeal market in the coming years
By Export, the global fishmeal market is divided into Peru, Chile, Vietnam, EU-27, Morocco, United States, Thailand, Russian Federation, Iceland, and Mexico. In 2022, the Russian Federation emerged as a notable player in fishmeal production and export, with an estimated 1.5 million metric tons shipped. This growth can be attributed to various factors, such as the availability of plentiful fish resources, the presence of advanced fish processing facilities, and government backing. The fishmeal industry in the country contributes significantly to the economy by generating employment opportunities, generating tax revenue, and bolstering export figures. It also plays a role in conserving fish stocks by alleviating the pressure on low-value fish species that are commonly used in fishmeal production.Crustaceans, such as shrimp, crab, and lobster, hold a dominant position in the global fishmeal market owing to their abundant availability and exceptional nutritional value
By Aquaculture, the global fishmeal market is categorized into Freshwater Fish, Tilapias, Cyprinids, Eels, Salmon & Trout, Marine Fish, and Crustaceans. Crustaceans provide a rich source of protein, essential fatty acids, and vitamins, making them valuable for aquaculture feed in fish and shrimp production. Their relatively easy harvesting process ensures a sustainable protein source with low environmental impact compared to other fishmeal production methods. As aquaculture gains popularity as an efficient seafood production method, the global demand for fishmeal is expected to increase. Crustaceans are well-positioned to maintain their market dominance due to their nutritional value, abundance, and ease of harvest.Tilapia, a versatile freshwater fish, has significant potential in the global fishmeal market due to its adaptability, suitability for aquaculture in developing countries, and high protein content. The growing demand for aquaculture products and seafood as a protein source is driving the expansion of tilapia production. Its sustainability attributes and advancements in technology further boost its growth in the global fishmeal market.
Seafood demand increases and concerns over depleting wild fish stocks rise, the global fishmeal market expands alongside the growth of sustainable aquaculture practices
By end-users, the global fishmeal market is categorized into Aquaculture, Pigs, Poultry, and Others. Aquaculture offers an eco-friendly approach through closed systems and benefits from advancements in technology, leading to the expansion of aquaculture farms and higher demand for fishmeal. Government support in the form of subsidies, research funding, and favorable regulations further boosts aquaculture growth. So, the global aquaculture industry is expected to continue expanding, driving the demand for fishmeal, and positively impacting the global fishmeal market.Competitive Landscape
FMC Corporation, Croda International Plc, Mukka Proteins Limited, FKS Multi Agro, and GC Rieber Oil are the companies prominent in the global fishmeal market.In February 2022, FMC announced that it had entered into a strategic partnership with Cargill to develop and commercialize new aquaculture nutrition products. This partnership will combine FMC's expertise in fishmeal and fish oil with Cargill's global reach and distribution network.
Report Scope
This report provides a complete study of the the Global Fishmeal Market.Global Fishmeal Market & Volume break up in 10 viewpoints
- China
- EU-27
- Vietnam
- Japan
- Norway
- Thailand
- Turkey
- United States
- Chile
- Taiwan
Production - Global Fishmeal Market break up in 10 viewpoints
- Peru
- Vietnam
- EU-27
- Chile
- China
- Thailand
- United States
- Norway
- Japan
- Morocco
Export - Global Fishmeal Market break up in 10 viewpoints
- Peru
- Chile
- Vietnam
- EU-27
- Morocco
- United States
- Thailand
- Russian Federation
- Iceland
- Mexico
Import - Global Fishmeal Market break up in 11 viewpoints
- China
- EU-27
- Turkey
- Japan
- Norway
- Vietnam
- Taiwan
- Province of China
- Indonesia
- United Kingdom
- Republic of Korea
Aquaculture - Global Fishmeal Market break up in 7 viewpoints
- Freshwater Fish
- Tilapias
- Cyprinids
- Eels
- Salmon & Trout
- Marine Fish
- Crustaceans
End-User - Global Fishmeal Market break up in 4 viewpoints
- Aquaculture
- Pigs
- Poultry
- Others
Company has been covered from 3 Viewpoints:
- Overview
- Recent Developments
- Revenue
Company Analysis:
- FMC Corporation
- Croda International Plc
- Mukka Proteins Limited
- FKS Multi Agro
- GC Rieber Oil
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Fishmeal Market
4. Market Dynamics
6. Share Analysis - Global Fishmeal Volume
7. Share Analysis - Global Fishmeal Market
8. Global Fishmeal Market and Volume
9. Producing Countries - Global Fishmeal Volume
10. Importing Countries - Global Fishmeal Volume
11. Exporting Countries - Global Fishmeal Volume
12. Aquaculture - Global Fishmeal Market
13. End Users - Global Fishmeal Market
14. Key Players Analysis
List of Figures
List of Tables
Companies Mentioned
- FMC Corporation
- Croda International PLC
- Mukka Proteins Limited
- FKS Multi Agro
- GC Rieber Oil
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 7.23 Billion |
| Forecasted Market Value ( USD | $ 10.8 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
