The global fishmeal and fish oil market is estimated to record a substantial CAGR of 5.8% during the forecast period (2024-2031). With a considerable decline in the count of several marine species, the governments across various countries have imposed quota restrictions on the practice of wild fish catching, as a measure to preserve marine life. This alternatively results in the rise of aquaculture, which is an effective intervention that involves the rearing of fish in artificially controlled environments. Moreover, the rearing of farmed fish is much more stable and secure from environmental threats, subsequently resulting in a steady supply of fish supplies, which is imperative for buyers such as large retail and the food and hotel industry. Fishmeal and fish oil is used as a prime ingredient for the aqua feed due to its high production yield, and a high protein yield. Hence, the consumption of fishmeal and fish oil is increasing along with the growth of aquaculture industry.
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Moreover, it is observed that, the production of fish oil has significantly decreased in recent years, owing to the shortage of raw fish. This production shortfall is creating demand-supply gap of fish oil in end-user industries. Therefore, the major end-users such as aquaculture industry, have started investing in a suitable alternative of fish oil. In absence of whole fish, fish oil can be produced from by-product, such as heads, viscera and back-bones as they are very a good source to produce fish oil. These by-products can be further processed into fishmeal and fish oil. Currently, almost 30% of fish oil and fishmeal is produced from by-products and fish waste. Due to shortage of whole fish, the by-product usage for fish oil is expected to increase the fish oil production, which further augments the growth of the fishmeal and fish oil market. However, the industry has to manage many permits from the Ministry of Production and also from the Ministry of Environment.
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Market Coverage
- Segment Covered- by Source and Application
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global 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)
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