Global Fishmeal Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

This report extensively covers different segments of Global Fishmeal Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).

Global Fishmeal Segment Analysis

In this report, the Global Fishmeal Market has been segmented by End Use, Application and Geography.

Global Fishmeal Market, Segmentation by Geography

In this report, the Global Fishmeal Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Fishmeal Market Share (%), by Geographical Region, 2023

According to market statistics, North America emerges as a promising region for the expansion of the fishmeal market, driven by its significant market size. The region is expected to exhibit a remarkable compound annual growth rate (CAGR) during the study period. Fishmeal is highly favored in North America for its high protein content, quality, and nutritional value, making it a popular ingredient in animal feed and pet food. Factors such as increased fish production, poultry farming, rising pork consumption, pig farming, and the growing trend of pet ownership contribute to the robust growth of the North America fishmeal market.

In Europe, the fishmeal market is poised for significant growth over the forecast period. The demand for salmon fishmeals is expected to drive market expansion, fueled by a sizable food industry, the prevalence of restaurant chains, and increasing per capita seafood spending. The market report highlights Germany as holding the largest market share in the region's fishmeal market, while the UK stands out as the fastest-growing market. These trends underscore the growing appetite for fishmeal in Europe, driven by consumer preferences for high-quality seafood products and awareness of their health benefits.

This report provides an in depth analysis of various factors that impact the dynamics of Global Fishmeal Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunities

Drivers:

• Growing Aquaculture Industry
• Rising Awareness about Nutritional Benefits

• Increasing Demand for Sustainable Protein Sources: As concerns about overfishing and environmental sustainability continue to escalate, there is a notable shift towards seeking sustainable protein sources within animal feed production. Fishmeal derived from by-products of fish processing emerges as a prominent solution in this context. Unlike traditional fishing practices solely for fishmeal production, utilizing by-products not only reduces waste but also aligns with principles of the circular economy.

  By repurposing fish processing by-products into valuable feed ingredients, the fishmeal industry contributes to the efficient use of resources and minimizes environmental impact. This approach helps in mitigating the depletion of fish stocks and alleviating pressure on marine ecosystems, thus fostering long-term sustainability in the fishing industry. Moreover, the utilization of fish by-products for fishmeal production adds value to otherwise underutilized or discarded parts of the fish, optimizing the resource utilization across the supply chain. As a result, fishmeal produced from fish processing by-products stands out as a sustainable protein source, meeting the demands of environmentally conscious consumers and supporting the transition towards a more sustainable and circular economy.

Restraints:

• Fluctuating Fish Stocks
• Competition from Alternative Protein Sources

• Regulatory Constraints: The regulatory landscape governing the fishmeal industry is multifaceted, encompassing various aspects such as fishing quotas, environmental conservation, and food safety standards. These regulations are implemented to ensure the responsible and sustainable utilization of marine resources while safeguarding environmental integrity and public health. Compliance with such stringent regulations presents both challenges and opportunities for fishmeal producers and exporters.

  Adherence to fishing quotas and regulations aimed at preserving fish stocks is crucial for the long-term sustainability of the industry. Fishing quotas are designed to prevent overfishing and maintain healthy fish populations, thereby ensuring the continued availability of raw materials for fishmeal production. However, strict adherence to these quotas may limit the supply of fish available for processing, potentially leading to fluctuations in raw material availability and production output.

Opportunities:

• Technological Advancements in Processing
• Expansion into New Markets
• Vertical Integration and Value Addition: Vertical integration along the supply chain offers fishmeal producers the opportunity to streamline operations and capture additional value at various stages of production. By integrating backward into fish processing and forward into distribution and marketing, producers can exert greater control over the quality, cost, and availability of raw materials, as well as the distribution channels for their products. This vertical integration enables producers to optimize efficiency, reduce dependency on external suppliers, and ensure a steady supply of high-quality raw materials for fishmeal production. Moreover, by diversifying into value-added products, such as fish oil, fish hydrolysates, and fish protein concentrates, producers can leverage their expertise and resources to meet the diverse needs of customers across different industries. For instance, fish oil extracted from fishmeal production can be further refined and marketed for use in pharmaceuticals, dietary supplements, and functional foods, tapping into lucrative markets with growing demand for omega-3 fatty acids and other health-promoting compounds. Similarly, fish hydrolysates and protein concentrates can find applications in pet food formulations, aquaculture feeds, and specialty food products, offering higher value and margins compared to traditional fishmeal. By expanding into these related sectors, fishmeal producers can diversify their revenue streams, mitigate risks associated with market fluctuations, and differentiate their product offerings based on unique attributes and value propositions. Additionally, this strategic diversification enhances resilience against external shocks and market uncertainties, positioning companies for long-term growth and competitiveness in the dynamic global marketplace.

Key players in Global Fishmeal Market include

• Sarma Fish S.A.R.L
• Pioneer Fishing Pty Ltd.
• Aker BioMarine Antarctic AS
• TASA
• Omega Protein Corporation

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis