Fishmeal is the raw meal produced after processing and drying fish or fish components, whereas fish oil is generally a transparent brown / yellow fluid produced by pressing the cooked fish. Different types of species are used for the production of the fishmeal and fish oil. Fishmeal (FM) and fish oil (FO) are primarily generated from sustainably managed fish stocks for which there is no demand. They are also used as additives in fish and animals feed. They are not directly provided to the animal as feed additive. Fishmeal and fish oil are used as elevated protein components in animal feed and farmed fish.
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Some of the factors responsible for the growth of this market are:
The global fishmeal & fish oil market is segmented on the basis of source as salmon & trout, marine fish, crustaceans, tilapias, carps, and others; livestock applications as aquatic animals, swine, poultry, cattle, pets, and others and industrial applications as fertilizers, aquaculture, and pharmaceutical.
Few of the launches and acquisitions by some prominent player in the market are:
“According to Data Bridge Market Research, global fishmeal & fish oil market is expected to registering a substantial CAGR of 8.75% in the forecast period of 2019-2026”
Few of the major competitors currently working in the global fishmeal & fish oil market are FMC Corporation, Austevoll Seafood, Croda International Plc, OCEANA GROUP LIMITED, Omega Protein, Sürsan A.Ş, GC Rieber Oils AS, The TASA Group, Orizon, Pioneer Fishing, TripleNine Group A/S, Pesquera Exalmar, Corpesca S.A., FF Skagen A/S, Copeinca, Coplex International S.A.S., Mukka Sea Food Industries and others.
Fishmeals are used mainly in domestic animal diets for a nutrient-rich feed component, sometimes used as a high-quality organic fertilizer. They can be manufactured using different seafood. Fish oil and fishmeal are full of high nutritional content and are very beneficial for health. They are easily digestible by other fish. Fishmeal has the ability to balance the minerals, amino acid, fatty acid and phospholipids which help in increasing the growth rate and overall production yield.
Global Fishmeal and Fish Oil Market – Industry Trends and Forecast to 2028