The fish meal consumer market
is expected to be worth USD 8000 Mn in the year 2021, and to increase at
an extraordinary pace to USD 15,000 Mn by 2032, with a CAGR of 7.7% over
the forecast timeline. Fish meal has been extensively used as
a vital element of the fertilizer and aquaculture industries.
The usage of Trout and Salmon as a good source of raw
material in the manufacture of fishmeal is fairly frequent. As the cultivation
of trout and salmon has expanded dramatically in recent years, wastage output
in fish processing plants has surged as well. Businesses have an adequate
supply of low-cost raw materials to make fishmeal, which will satisfy customer
demand worldwide. The usage of Trout and Salmon as a good source of raw
material in the manufacture of fishmeal is fairly frequent. As the cultivation
of trout and salmon has expanded dramatically in recent years, wastage output
in fish processing facilities has surged as well. Businesses have an adequate
supply of low-cost raw materials to make fishmeal, which will satisfy customer
demand worldwide.
Key takeaways:
- The
fish meal market is expected to be worth USD 8000 Mn in 2021, and to
increase at an extraordinary pace to reach USD 15,000 Mn by 2032,
with a compound annual growth rate (CAGR) of 7.7% over the analysis
period.
- The
market segment has grown to a value of USD 4,180 million as a result of
widespread demand. The United States is expected to be the most dominating
region in the North American segment, accounting for more than 87 percent
of overall North American sales for USD 2717 million.
- China
has a fast-increasing aquaculture business and is the top producer of
animal-derived products in the Asia-Pacific region, with a market share of
over 345 percent and an estimated value of USD 704 million.
- In
the United States, by-catch fishing wastes 1 million metric tons of fish
each year. The fishery sector stimulates the manufacture of fishmeal
since waste and by-catch are supplied as cheap raw materials to
fishmeal producers, so paying for the losses that the fishing business
might have sustained from wastage and by-catch.
“The market for fishmeal is projected to have a
booming expansion attributed to the rise in the utilization in animal rearing
including poultry and pig farms along with aquaculture. As an animal feed,
fishmeal is a wonderful source of nutrients and protein, which boosts quality
and productivity,” says a lead analyst at Future Market Insights.
Competitive landscape
Fishmeal is seeing a staggering growth in the animal feed
and fertilizer industry. Various companies are using technology and research to
come up with a process that could efficiently extract nutrients from the fish
waste that is produced in large amounts from the fish processing plants.
- Bergen
and Biomega Group, for example, use the fish waste from several salmon
fish processing units that aren’t meant for the human intake to make
high-quality pet food. Fishmeal is a highly profitable alternative for pet
owners since it provides improved fatty acids, minerals, and high-quality
protein. These companies use a process known as ‘enzymatic hydrolysis,’
which turns fish waste into high-quality meals in the form of the
high-protein peptide. The method supports the main objective of
incorporating entire animal leftovers into usable products and
accomplishing Zero Wastage.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an
unbiased analysis of the global Fishmeal market, presenting historical data
(2017-2021) and estimation statistics for the forecast period of 2022-2032.
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
Access Full Report:
https://www.futuremarketinsights.com/reports/fish-meal-market