The global fishmeal & fish oil market size is expected to reach USD 20.42 billion by 2032, according to a new study by Polaris Market Research. The report “Fishmeal & Fish Oil Market Share, Size, Trends, Industry Analysis Report, By Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, Carps, and Other Sources); By Livestock; By Industrial Application; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rise in the integration of the product in swine and poultry diets and enhancement in the productivity with environmental performance of aquaculture coupled with the maintainable intensification of agriculture are key factors propelling the market growth. Moreover, increasing use of fish by-products in pharmaceutical industry along with the surging scientific innovations and implementation on production capacity expansion activities among large players, will further stimulate the global market demand and growth. For instance, in October 2022, Scoular, Da Yang Seafood, & the Bornstein, established new fishmeal processing facility at the, Oregon.
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The production of fishmeal and other related products is estimated to grow moderately over the coming years due to better utilization of by-products from fish processing industry and growing development of various other raw material sources such as algae, insects, and krill will offer lucrative opportunities in the near future. The expansion of the retail market and continuous changes in food consumption pattern of consumers and their desire to spend on their own and family’s health will support the market.
These products are being considered as the most nutritious & digestible ingredients for the farmed fish and its being increasingly used in the specific production stages of the aquaculture. Apart from this, the product production process is highly energy-sensitive and opportunities remain of producing greater-value products with less energy and lesser environmental impact.
Fishmeal & Fish Oil Market Report Highlights
Fishmeal & Fish Oil Market Research has segmented the fishmeal & fish oil market report based on source, livestock, industrial application, and region:
Fishmeal & Fish Oil, Source Outlook (Revenue - USD Billion, 2019 - 2032)
Fishmeal & Fish Oil, Livestock Outlook (Revenue - USD Billion, 2019 - 2032)
Fishmeal & Fish Oil, Industrial Application Outlook (Revenue - USD Billion, 2019 - 2032)
Fishmeal & Fish Oil, Regional Outlook (Revenue - USD Billion, 2019 - 2032)