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Fish Meal Market

Fish Meal Market

Application of Fish Meal as an Animal Feed Additive to Propel the Fish Meal Market Growth during 2021-2031

Fish Meal Market
FACT6938MR
  • Sep-2021
  • List of Tables : 83
  • List of Figures : 83
  • 170 Pages
  • Food & Beverage

Market Snapshot

Latest released industry analysis on the global fish meal market by Fact.MR estimates that the industry accounts for US$ 4.73 Bn at present, and is expected to witness significant growth at a CAGR of 6.3% to reach a valuation of US$ 8.7 Bn by 2031. Over the coming years, demand for organic fish meal is set to increase faster as compared to the conventional form.

Fish meal business research performed by Fact.MR includes key findings such as the latest and speculative production capacity, capacity utilisation rates of each manufacturer, recent and speculative pricing, and price optimization strategy across the value chain, as well as economic evaluation of fish meal production.

Key Points Covered in Fish Meal Industry Survey:

  • Fish Meal Market Estimates and Forecasts (2016-2031)
  • Production Capacity Analysis of Prominent Manufacturers
  • Fish Meal Pricing Analysis
  • Product Pricing Optimization Strategy
  • Associated Industry Analysis (Food and Beverage Market Overview)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • COVID-19 Impact on Fish Meal Demand and How to Navigate
  • Exclusive sales assessment of Fish Meal
  • Recommendation on Key Winning Strategies

Know More Details About the Report

Demand Analysis of Fish Meal from 2016 to 2020 Vs Market Outlook for 2021 to 2031   

As per Fact.MR, a market research and competitive intelligence provider, over the past half-decade, global market value increased at a CAGR of around 4.7% owing to high demand for fish meal from various regions such as North America and Europe.

Fish is increasingly being demanded for use as feed in addition to being consumed. Almost one-third of the world's wild-caught fish is processed to fish oil and fish meal, as processed fish meal and fish oil are subsequently used in livestock feed for pigs and poultry, as well as in farmed carnivorous fish diets.

Since aquaculture is expected to expand rapidly over the next 20 years, several experts are concerned that rising demand for fish meal and fish oil may increase fishing pressure on already depleted feedstocks.

Use of fish meal as an animal feed additive has been driving the growth of the global market for centuries, but it has only been in the last 50 years that fish meal production has become a global operation. Fish meal is usually made from species of fish that aren't eaten directly by humans or from by-products of seafood processing.

Increased use vitamin-rich fish meal products in fish feed has mostly come at the expense of their use in poultry feed. Fish meal is a popular protein source in fry feed for a variety of fish species as well as carnivorous fish meals. Fish meal's amino acid composition pairs well with plant protein concentrate to create blended products that promote quick and cost-effective fish development.

Vitamin-rich fish meal product demand from aqua feed is driving its growth in the global market owing to its amino acid composition that promotes quick and cost-effective fish development.

Sales of fish meal are projected to further rise at a steady CAGR of around 6.3% over the next ten years. The global fish meal industry is being driven by rising demand for fish meal-based animal feed products.

Fish meal market nature analysis and forecast by nature by Fact.MR

Will Increased Use of Fish Meal in Animal Feed and Pet Food Aid Market Growth?

Majority of commercial fish meal is made from marine by-products that are unfit for human consumption. Application of fish meal in animal feed improves feed efficiency and livestock growth by improving digestion and absorption.

The balanced amino acid profile of fish meal complements other animal and vegetable proteins in animal feed to promote rapid growth and reduce feeding costs. It also aids in disease resistance by building and maintaining a healthy, functional immune system. High-quality fish meal in aquaculture feed helps reduce contamination from wastewater effluents by increasing nutrient digestion.

Application of fish meal in animal feed and pet food is propelling the growth of global market, owing to quality amino acids content in the matrix of protein, nutritionally accessible minerals, and a considerable amount of omega-3 fatty acids in the remaining fat.

Omega-3 fatty acids are critical for the growth and development of dogs in their early years. Omega-3 fatty acids EPA and DHA, which are vital for brain and eye development, are naturally abundant in fish, fish meal, and fish oil. Application of fish meal in pet food is gaining traction owing to its nutritional properties.

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Why is Demand for Fish Meal-based Fertilizers Gaining Traction across Regions?

Agriculture is acknowledged to be a major contributor to the economies of both, emerging and developed countries. Concerns about the detrimental impacts of chemical-based fertilizers in crop and vegetable cultivation are prompting farmers to choose more sustainable methods.

Synthetic fertilizers deliver nutrients swiftly and help crops and plants right away. All-natural fish meal-based fertilizers, on the other hand, are treated differently and include more minerals, protein, and nutrients.

All-natural fish meal-based fertilizer demand has increased owing to various factors such as fish fertilizers boost soil fertility and health by giving burn-free nitrogen as well as basic nutrients such as potassium and phosphorous to crops. Plants with these nutrients grow faster and are more resistant to disease and pests.

Which Regional Market is Slated to Be Prominent for the Sale of Fish Meal?

In 2021, total sales of fish meal in North America is expected to reach US$ 1.48 Bn, accounting for roughly 31.3% of global sales.

Rising growth of the fish meal industry as well as renewed push to ensure the sustainability of oceanic fisheries that provide these products to global poultry, swine, fish-farming, and pet food industries are pushing demand for crustacean fish meal, tilapia fish meal, sardine fish meal, and anchovy fish meal in North America.

Intensive research & development is expected to accelerate the commercialization of fish meal made from various seafood trimmings as a market alternative. Also, increasing use of fish meal in pet food and animal feed, particularly feline food, will continue to drive demand for fish meal-based animal feed in the U.S.

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Country-wise Analysis

Which Factors are Driving the Sales of Fish Meal in the U.S.?

The US fish meal market accounts for more than 87% of the North American market, according to the most recent analysis.

The U.S.  offers a diverse range of shellfish and fish products. It is estimated that hundreds of different types of shellfish and fish are marketed each year.

However, eight different species of fish and shellfish items account for more than 80% of all seafood consumed in the United States. In 2017, shrimp, canned tuna, and salmon accounted for around 55% of all seafood ingested.

Increased consumption of seafood in the U.S. is one of the important factors propelling demand growth of various sources of fish meal such as blue whiting fish meal, capelin fish meal, Norway pout fish meal, and sprat fish meal.

What Makes China Dominate the Fish Meal Landscape in East Asia? 

The China fish meal market size in 2021 is estimated to reach a value of US$ 275.7 Mn, but manufacturers of organic fish meal in Japan are expected to boost market expansion at a decent growth rate of 6.7% through 2031.

Farmers want to secure high-protein fish meal in their aquatic systems; therefore developments in the shrimp farming industry are driving demand for high-quality fish meal. Besides, limited supply and strict fishing restrictions are allowing regional companies to develop safer and more productive methods of collecting and selling fish meal, promoting overall market growth.

With rising demand for marine by-products and seafood in the country, producers of fish meal in the China are focusing on improving quality, productivity, and sustainability.

Why are Fish Meal Suppliers Eyeing Germany and the U.K.?  

Germany holds a market share of 23.8% in Europe while demand for fish meal from whole fish in the U.K. is expected to witness decent growth over the forecast period.

Widespread presence of a large food sector and genuine restaurant chains will continue to enhance demand for salmon fish meal and salmon fish meal sales in the German market.

Rising consumer demand for tuna, salmon, and cod is driving regional and worldwide fisheries to maintain seafood quality and nutrient content, boosting demand for fish meal via by-product from wild capture.

Also, increasing per capita seafood spending and growing awareness of the health advantages of seafood will continue to boost fish meal sales in the United Kingdom through 2031.

What is Driving Demand for Fish Meal in Thailand and Vietnam?

According to Fact.MR, Thailand is estimated to account for 36.2% of the South Asia fish meal market share in 2021, but demand for tilapia fish meal in Vietnam is fuelling market growth. Thailand is one of the major fish meal producing countries in the world.

China, Thailand, and Vietnam are Asia's three largest fish meal producers, producing 1.03 Mn tonnes in 2019, a majority of which was consumed in Asian markets.

Thailand's fishing industry has grown to become one of the world's top fishery exporters, accounting for around 20% of Thailand's total food product exports. Canned tuna and sardines as well as processed shrimp, prawns, and squid account for more than 70% of total fishery product exports.

Sales of salmon fish meal in Thailand are expected to increase at a high growth rate due to rising demand from various end-use industries such poultry, aqua feed, and others.

Category-wise Insights

Why is Organic Fish Meal Highly Sought-after?

According to Fact.MR, conventional fish meal accounts for more than 94% market share, and overall sales of fish meal are expected to witness a significant CAGR 6.7% over the next ten years.

Rising organic aquaculture industry, which is based on optimizing nutritional content, food quality, and resource productivity, is primarily driving market expansion. Furthermore, increasing consumer shift away from high-calorie foods and towards protein-rich diets is also driving demand for organic fish meal.

Demand for conventional fish meal is expected to decrease over the coming years owing to rising awareness and preference for organic fish meal.

Which is the Most Profitable Application of Fish Meal?

The aqua feed segment accounts for approximately 37.7% of the global market, but the use of fish meal in pharmaceuticals is expected to rise at a CAGR of 9.9% during the forecast period.

Due to its health benefits, fish meal is increasingly being used in the pharmaceutical business. Furthermore, rising consumer concerns about chronic diseases is leading to increase in use of fish meal in dietary supplements.

Fish meal for aquatic animals is also gaining traction owing to increased demand for high-quality protein. Fish meal, as an ingredient in aqua feed, provides essential fatty acids and amino acids.

Demand for fish meal for poultry is also increasing due to its high protein content. Fish meal is used in poultry diets as a highly digested, 'high quality' animal protein source.

Which Source of Fish Meal Holds High Significance?

Based on source, sales of crustacean fish meal are estimated to value US$ 966.8 Mn in 2021, but catfish are expected to witness a lucrative growth rate of 10.9% over the forecast period.

Tilapia fish meal demand is also expected to witness significant growth over the forecast period, due to awareness about nutritional properties leading to high demand from various end-use industries such as aqua feed, pharmaceuticals, and others.

Salmon- and trout-sourced fish meal account for a prominent share in the global market owing to rising demand from the dietary supplements industry. Salmon- and trout-sourced fish meal together account for a market share of nearly 25%.

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Competition Landscape

Use of creative marketing methods is enabling fish meal suppliers to grow at a rapid pace. Top producers of tilapia fish meal have sought to raise knowledge about the health advantages of products made from marine by-products such as fish meal by investing appropriately at each step of product development.

Top producers of salmon fish meal are also focusing on research & development activities for new product development. Continuous developments from producers of salmon fish meal are boosting market progress.

  • Biomega AS, a global fish oil and fish meal producer, will extend its operations by investing in a biorefinery in Denmark. This facility expansion is intended to drive salmon-derived product development, assisting the company in establishing a strong presence in the fish meal industry.

Similarly, recent developments related to companies offering fish meal have been tracked by the team at Fact.MR, which are available in the full report.

Fact.MR has provided detailed information about the price points of fish meal of manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion, in the recently published report.

Fish Meal Industry Report Scope

Attribute

Details

Market size value in 2021

USD 4.7 Billion

Market forecast value in 2031

USD 8.7 Billion

Growth Rate

CAGR of 6.3% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

MT for Volume and US$ Million for Value

Key Regions Covered

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

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Rest of LATAM
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • Russia
  • Rest of Europe
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of South Asia
  • Australia
  • New Zealand
  • South Africa
  • GCC Countries 
  • Rest of South Africa

Key Market Segments Covered

  • Grade
  • Process
  • End-Use
  • Product Type
  • Distribution Channel
  • Region

Key Companies Profiled

  • Omega Protein Corporation
  • Orizon SA
  • FF Skagen A/S
  • Pesquera Diamente S.A.
  • BiOmega AS
  • Animal Feeds International Corporation
  • Pesquera Hayduk SA
  • Oceana Group Limited S.A.
  • Empresas Copec S.A.
  • Sardina D.O.O
  • Omega Protein Corporation
  • TripleNine Group A/S
  • Others

Pricing

Available upon Request

Market Segments Covered in Fish Meal Industry Research

  • By Nature

    • Organic Fish Meal
    • Conventional Fish Meal
  • By Application

    • Fish Meal for Animal Feed
    • Fish Meal for Aqua Feed
    • Fish Meal for Poultry
    • Fish Meal for Pharmaceuticals
    • Fish Meal for Dietary Supplements
    • Fish Meal for Fertilizers
  • By Product Type

    • Crustaceans
      • Crabs
      • Lobsters
      • Crayfish
      • Shrimps
      • Prawns
      • Krill
      • Woodlice
      • Barnacles
    • Cyprinids
      • Tuna
      • Tilapia
      • Swordfish
      • Salmons
      • Milkfish
      • Catfish
      • Trout
      • Marine Fish
      • Eels
      • Mollusos

Fish Meal Market: Report Scope

A recent market study published by Fact.MR on the fish meal market offers global industry analysis for 2016-2020 and opportunity assessment for 2021-2031. The study offers comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters, the growth prospects of the market are obtained with maximum precision.

Report Chapters

Executive Summary

The executive summary of the fish meal includes the market country analysis, technology roadmap analysis, demand-side and supply-side trends, opportunity assessment, and recommendations on the global fish meal.

Chapter 01 – Market Introduction

Readers can find the detailed segmentation and definition of the fish meal in this chapter, which will help them understand basic information about the fish meal. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the fish meal report.

Chapter 02 – Product Innovation and Developement Trends

This chapter readers can find the details analysis of recent trends which elevate the fish meal. Also, this chapter includes the effectiveness of the trend in the forecast period.

Chapter 03 – Market Background and Associated Industry Analysis

The associated industry assessment of the fish meal is carried out in this section. The macro-economic factors affecting growth of the fish meal are provided in this section and the impact of these macroeconomic indicators on the fish meal is analyzed. This section also included policy developments and regulatory scenario, global forecast factor-relevance and impact and value chain analysis. In this section reader also find the market dynamics like drivers, restrains and the opportunities of the fish meal in globe.

Chapter 04 – Policy and Regulatory Landscape

The key regulations of the fish meal market are also explained in this chapter. The reader can find details for regulation and policies of different governments in different region for fish meal.

Chapter 05 – Global Market Analysis 2016-2020 and Forecast 2016-2031

This chapter includes detailed analysis of the historical fish meal (2016-2020), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031).

Chapter 06 – Pricing Analysis

This chapter includes global as well as regional pricing analysis by Nature. The pricing influencing factors are also explained in this chapter. The readers can understand the manufacturer level, distributor level pricing analysis for 2021 and 2031.

Chapter 07 – Global Market Analysis 2016-2020 and Forecast 2021-2031, by Nature

Based on nature, the fish meal is segmented into organic and conventional. This section also offers market attractiveness analysis based on nature.

Chapter 08 – Global Market Analysis 2016-2020 and Forecast 2021-2031, by Application

Based on application, the fish meal is segmented into animal feed, aqua feed, poultry, pharmaceuticals, dietary supplements and fertilizers. This section also offers market attractiveness analysis based on process. In this chapter, readers can find information about key trends and developments in the fish meal market and market attractiveness analysis based on application.

Chapter 09 – Global Market Analysis 2016-2020 and Forecast 2021-2031, by Source

Based on source, the fish meal is segmented into crustaceans, cyprinids, tuna, tilapia, swordfish, salmon, milkfish, catfish, trout, marine fish, eels, and mollusos. This section also offers market attractiveness analysis based on source. In this chapter, readers can find information about key trends and developments in the fish meal market and market attractiveness analysis based on source.

Chapter 12 – Global Market Analysis 2016-2020 and Forecast 2021-2031 by Region

This chapter explains how the fish meal is anticipated to grow across North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East and Africa (MEA).

Chapter 13 – North America Market Analysis 2016-2020 and Forecast 2021-2031

This chapter includes a detailed analysis of the growth of the fish meal in the North America region, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on different segment and countries in the North America region.

Chapter 14 – Latin America Market Analysis 2016-2020 and Forecast 2021-2031

This chapter includes a detailed analysis of the growth of the fish meal in the Latin America region, along with a country-wise assessment that includes the Brazil, Mexico, and the Rest of Latin America. Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish meal in the Latin America region.

Chapter 15 – Europe Market Analysis 2016-2020 and Forecast 2021-2031

Important growth prospects of the fish meal based on different segments in several countries such as Germany, Italy, France, U.K., Spain, BENELUX, Russia, Poland and the Rest of Europe are included in this chapter. Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish meal in the Europe region.

Chapter 16 – East Asia Market Analysis 2016-2020 and Forecast 2021-2031

Important growth prospects of the fish meal based on different segments in several countries such as in Japan, China, South Korea and the Rest of East Asia. Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish meal in the East Asian region.

Chapter 17 – South Asia Market Analysis 2016-2020 and Forecast 2021-2031

Important growth prospects of the fish meal based on different segments in several countries such as India, Thailand, Indonesia, Malaysia, and Rest of South Asia. Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish meal in the South Asia region.

Chapter 18 – Oceania Market Analysis 2016-2020 and Forecast 2021-2031

Important growth prospects of the fish meal based on different segments in several countries such Australia, and New Zealand are included in this chapter. Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish meal in the Oceania region.

Chapter 19 – Middle East and Africa Market Analysis 2016-2020 and Forecast 2021-2031

This chapter includes a detailed analysis of the growth of the fish meal in the MEA region, along with a country-wise assessment that includes the GCC Countries, South Africa, and Rest of MEA. Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish meal in the MEA region.

Chapter 20 – Market Structure Analysis

In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the fish meal along with their market presence analysis by region and product portfolio.

Chapter 21 – Competition Analysis

In this chapter, readers can find a comprehensive list of leading manufacturers in the fish meal, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. 

Chapter 22 - Assumptions and Acronyms

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the fish meal report.

Chapter 23 – Research Methodology

This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the fish meal.

- FAQs -

Currently, the global fish meal market is worth around US$ 4.73 Bn.

Fish meal consumption is expected to increase at a CAGR of around 6.3% during the period of 2021-2031.

In terms of revenue, demand for fish meal expanded at a CAGR of around 4.7% during 2016-2020.

Market players are opting for product launches, research & developments, and production capacity expansion to drive sales.

Top 5 producers of fish meal hold around 8%-10% of the market share.

The U.S., Germany, China, U.K., and Japan are major countries driving demand for fish meal.

East Asia holds around 13.5% of global fish meal revenue share.

The U.S. fish meal industry is projected to rise at a CAGR of around 4.6% over the next ten years.

The report presents detailed cost analysis of fish meal based on nature, i.e., organic fish meal and conventional fish meal.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.