Fishmeal Market To Reach US$ 15,000 Mn By 2032, Says Future Market Insights

The market for fishmeal is growing rapidly, as demand for seafood continues to rise. But what is fishmeal, and where does it come from? This article will explore the fishmeal market and examine the various factors that are driving its growth. We'll also take a look at some of the top producers of this commodity and see what strategies they're using to stay ahead of the competition. So if you're interested in learning more about this exciting industry

Future Market Insights (FMI), Dubai: The Global Fishmeal Market is on fire, with prices doubling in the last year. The big drivers of this demand are the growing consumption of seafood across the globe and the need for high-quality seafood and processed meat. Fishmeal is a rich source of protein and fatty acids, making it an ideal addititive for animal feed. As the world's population continues to grow, the demand for fishmeal is only going to increase. Fishmeal producers are scrambling to keep up with the demand, and it doesn't seem like the boom is going to slow down anytime soon.

This, coupled with expansion of the agriculture industry is propelling sales in the market, with the U.S., China, Germany, Japan and the U.K. emerging as key producers of fishmeal.

Fishmeal Market is forecasted to be valued at USD 8,000 Mn in the year 2022 to USD 15,000 Mn by the year 2032 and exhibiting a remarkable 7.7% CAGR during the forecast period 2022-2032

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As per FMI’s regional analysis, the U.K. is projected to exhibit positive growth patterns during the forecast period. High consumption of seafood in the country and growing awareness regarding fish-derived products such as fish oil will continue bolstering sales of fishmeal in the market.

“Increasing adoption of fishmeal in animal feed and fertilizers, coupled with growing consumption of seafood across the world will augment the market growth through 2031,” says the FMI analyst.

Key Takeaways from the Fishmeal Market Survey:

• In terms of application, the animal feed segment is projected to account for the maximum market share.
• By end-users, the aquaculture segment will exhibit lucrative growth patterns, followed by the swine segment.
• The U.S. is projected to witness high demand for fishmeal, owing to expansions in the agriculture and aquaculture sector.
• The U.K. will emerge as the most lucrative market due to high consumption of seafood in the country, coupled with growing demand from the hospitality industry.
• Increasing demand for processed meat and seafood in China will drive sales of fishmeal in the market.
• South Korea and Japan will account for 5.4% and 9.1% of the total fishmeal market share respectively.

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Competitive Landscape 

Oceana Group Limited S.A., TriplenineGroup A/S, EmpresasCopecS.A., Pesquera Diamante S.A., Pesquera Hayduk S.A., Ff Skagen A/S, Austevoll Seafood ASA, Biomega AS, Sardina D.O.O., Sarma Fish S.A.R.L, Pioneer Fishing Pty Ltd., Aker BioMarine Antarctic AS, TASA, Omega Protein Corporation, The Scoular Company, Calysta, Inc., Unibio A/S, Novus International Inc., Animalfeeds International Corporation and Alpha Atlantique are among the top players operating in the fishmeal market, as profiled by FMI.

Among these, Oceana Group Limited S.A., Empresas Copec S.A., Sardina D.O.O., Omega Protein Corporation, and Triplenine Group A/S are emerging as the top 5 players in the fishmeal market, holding 20-25% of the total market share.

As per FMI's analysis, leading players in the market are emphasizing on production facility expansions and sustainable methods to derive fish-borne products to establish a firm foothold in the market. Strategic collaborations, acquisitions, and intensive research and development will remain prominent growth strategies among players through 2031. For instance:

• In January 2021, Calysta Inc announced a joint venture with worldwide animal nutrition leader Adisseo to build the world’s first commercial-scale production facility of single-cell protein.
• In March 2021, Unibio received approval for animal feed products for pigs from the Danish Ministry for Food, Fisheries, Equal Opportunities, and Nordic Cooperation. The trial was aimed at checking the nutritional and functional properties of Unibio’s animal feed product called UniProtein.

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Segmentation for fishmeal market

By Application:

• Fertilizers
• Animal Feed

By End-Use:

• Swine
• Poultry
• Aquaculture
  • Salmon & Trout
  • Crustaceans
  • Cyprinids
  • Marine Fish
  • Others
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia 
• Oceania
• MEA

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Key Questions Answered in the Report:

• How much is the Fishmeal market currently worth?
• At what CAGR is the market expected to grow?
• What are the key trends boosting Fishmeal sales?
• How are market players reacting to the new developments in the market?
• How much share do the top 3 companies hold?
• Which are the major countries driving demand for Fishmeal?
• Who are the major players in Fishmeal Market?
• What outlook does APAC provide?
• At what rate will the U.S. Fishmeal market grow?
• At what level does the report reflect pricing analysis?

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About Future Market Insights (FMI) 

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latestmarket research reportsand industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized andsyndicated market research reportsdeliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. 

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