The Asia-Pacific fishmeal and fish oil market is estimated to witness a CAGR of 5.1% during the forecast period (2020-2026). Pivotal factors such as abundant production of fish oil, growing aquaculture industry, and increasing exposure to the health benefits of fish oil are driving the growth of the fishmeal and fish oil market in the Asia-Pacific. In the last few years, the aquaculture industry in the region has grown manifold with additional support from the governments. For instance, considering the immense growth opportunity in the aquaculture sector, the Government of India has restructured the Central Plan Scheme under the Blue Revolution. The restructured Central Sector Scheme on Blue Revolution: Integrated Development and Management of Fisheries (CSS) approved by the Government provides focused development and management of the fisheries sector to increase fish production from the inland and marine aquaculture sector including deep-sea fishing.
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Further, in 2015, China Agriculture Yearbook (CAY) reported that total aquaculture area was 7.83 million hectares. China also has a huge research and education network sponsored by the central government. This is known as the Chinese Academy of Fishery Sciences, which is comprised of ten different research institutes. These institutes also work closely with universities and a number of private research institutes (FAO Fisheries and Aquaculture Department. Education in aquaculture is a popular course of study, and more than 30 Chinese universities enroll about 1,000 aquaculture students each year. Many of these universities offer upper-level graduate degrees in aquaculture or closely related disciplines. The research from these institutes is then shared openly with the Extension Centers so that the information is effectively disseminated to the local farmers. These initiatives taken by the government are projected to boost the aquaculture market in China, in turn boosting the market for fishmeal and fish oil during the forecast period.
Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- by Source and Application
· Countries Covered- China, India, Japan, South Korea, and Rest of Asia-Pacific
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A full Report of Asia-Pacific Fishmeal and Fish Oil Market is Available at: https://www.omrglobal.com/industry-reports/asia-pacific-fishmeal-and-fish-oil-market
Asia-Pacific Fishmeal and Fish Oil Market Report Segment
By Type
· Salmon & Trout
· Crustaceans
· Marine Fish
· Carps
· Others (Tilapias, Eels, Crabs, and Lobsters)
By Application
· Swine
· Poultry
· Cattle
· Aquaculture
· Pets
· Others (Equine and Other Marine Species)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
