Fishmeal and Fishoil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Fishmeal & Fish Oil Market has been segmented on the basis of source - Salmon & trout, Crustaceans, Marine fish, Carps, Tilapias, Others, Livestock Application - (Aquatic animals, Poultry, Swine, Cattle, Pets, Others and Geography.

Fishmeal and Fishoil Market Snapshot

fishmeal & fish oil market size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.1 %
fishmeal & fish oil market major players

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Market Overview

Global Fish Oil Omega-3 market is estimated to register with CAGR 7.1% during the forecast period (2020-2025). Fishmeal is a high protein feed used for aquaculture systems. These are mainly used as fish and animal feed additives. Fish oil is obtained by wet pressing method. Fish oil and fish meal are high protein ingredients in the feeds given to fishes and farm animals.Fish oil omega-3 market is driven by the research and development efforts that are channelized toward improving the procurement practices, enhancing the extraction process of omega-3 fatty acids, and sustainably streamlining the entire value chain of the industry.Health experts across the world have substantially increased the recommended daily dietary intake of omega-3 fatty acids, as a result of which, the fish oil consumption has increase consequentially. The rise in perceived health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, is also driving the market. Fish oil set a new trend, thus capturing health market.As the aquaculture and agriculture industries are increasing, fish feed and oil market will proportionately grow during the forecast period.

Scope of the Report

For the purpose of this report, only Fishmeal and Fishoil market have been considered. The report covers an extensive study of segments and factors driving the growth of the commercial Fishmeal and Fishoil market. An in-depth analysis of the futures market and trend was exclusively measured in this report. Factors driving region-wise analysis are also covered with great observations. The report includes market shares of the Fishmeal and Fishoil market for Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

Species Type
Salmon & trout
Crustaceans
Marine fish
Carps
Tilapias
Others
Application
Poultry
Swine
Poultry
Aquatic animals
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United States
France
Russia
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Egypt
Rest of Middle East and Africa

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Key Market Trends

Rising Popularity in The Pharmaceutical Industry

Fish meal and fish oil have multiple nutritional values and are also the major sources of omega-3 fatty acids EPA and DHA, which are currently recognized worldwide, as a key factor in human health. Hence, associated health benefits of fish meal and fish oil are impacting the demand for the market studied. According to the International Fishmeal and Fish Oil Organization (IFFO), standard fishmeal contains 64-67% crude protein with up to 12% fat. Special fish meal and fish oil products tend to have more protein – 68-72%. They also have lower amine content reflecting fresher raw material, for instance, a maximum of 1,000 ppm histamine, thereby, leading to the growth of the market studied. According to information from the Food and Agriculture Organization (FAO), Crustacean is used as bioactive molecules for the pharmaceutical industry. Furthermore, carotenoids and astaxanthins derived from fish helps in improving the immunity system and works as anti-oxidant in the health care field.  Many scientists are trying to extract these molecules from seafood processing waste products. Shark by-products (cartilage, but also ovaries, brain, skin, and stomach) are used in many pharmaceutical preparations and reduced to powder, creams, and capsules. Hence, rising use of fish by-products in the pharmaceutical industry as well as in feeds along with growing scientific innovation is contributing to the development of fish meal and fish oil market, globally. Fish meal In the pharmaceutical industry is mostly used as a raw material in the preparation of certain antibiotics. The  uses of fish meal and fish oil include feeding of mink, farmed fish, dogs, cats, and cattle. The specially processed fish meals are majorly consumed by humans in low quantities. The application of fish oil in the pharmaceutical industry helps in improving memory and majorly protects from mental illnesses such as bipolar disorder.

fishmeal & fish oil market share

United States Dominates the Market

The major reason behind the development of fish meal and fish oil is due to the increasing government support within the country. The total covered area of 220 nautical miles under EEZ  (Exclusive Economic Zone)  where the US has control over all the marine natural resources. This large area provides a huge opportunity for the marine industry which ultimately results in the growth of fish meal and fish oil market in the country. According to the International Fishmeal and Fish Oil Organization (IFFO) report 2017, the total amount of fish meal production by the country amounted to be 211 thousand metric tons in 2017 and total fish oil production amounted to be 74 thousand metric ton for the same year. The report further added that the fish oil production is anticipated to register an average yield of 7.5% during the forecast period. The report has further forecasted a 5% growth in the fish oil and fish meal production in the United States for 2018.  This represents a positive scenario for the market in the country. Alaskan Pollock, a type of marine fish, accounted for the high production of fish oil with an average yield of 10% for the year 2017. Due to this, the overall production of fish oil in the country was stable in 2017. Furthermore, the total Pelagic fishmeal accounted to be 67,500 metric tons in the United States for the period of 2017.  These marine fish accounts for a major share in the fish meal and fish oil market. Hence, the surging production of marine fish will lead to growth in the overall market studied in the country. Over the years, the fish meal consumption in the country has almost doubled, which is primarily offset by the production trend in the country. For instance, the production of fish meal in the country just increased by 2.1% from 253,000 metric tons in 2016 to 258,000 metric tons in 2019. Hence, the increasing focus on uplifting the production scenario would further stabilize the price volatility of fish meals in the years to come.

fishmeal & fish oil market growth rate

Competitive Landscape

The global Fishmeal and Fish oil market is slightly fragmented, with various small and medium-sized companies coining smaller shares. Major companies were strategically involved in mergers, acquisitions, and product innovations. Croda International Plc’s acquisition of a marine biotechnology company, Nautilus Biosciences Canada Inc., is anticipated to provide new marine-based products and ingredients in the market. Organic Technologies introduced two new DHA omega-3 concentrates within its existing product line – positioning them as tuna oil alternatives. On October 2017, Cooke Aquaculture Inc. acquired  Omega Protein, which is a Texas-based company that produces fish meal and fish oil for USD 500 million.​

Major Players

  1. CRODA

  2. Pelagia

  3. Oceana Group Limited

  4. GC Rieber Oils

  5. The Scoular Company

CRODA, Pelagia, Oceana Group Limited, GC Rieber Oils, The Scoular Company.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

    4. 4.4 Market Restraints

    5. 4.5 Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Species Type

      1. 5.1.1 Salmon & trout

      2. 5.1.2 Crustaceans

      3. 5.1.3 Marine fish

      4. 5.1.4 Carps

      5. 5.1.5 Tilapias

      6. 5.1.6 Others

    2. 5.2 Application

      1. 5.2.1 Poultry

      2. 5.2.2 Swine

      3. 5.2.3 Poultry

      4. 5.2.4 Aquatic animals

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United States

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Egypt

        5. 5.3.5.5 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Royal DSM

      2. 6.3.2 FF Skagen

      3. 6.3.3 Sürsan A.Ş

      4. 6.3.4 BASF SE

      5. 6.3.5 GC Rieber Oils

      6. 6.3.6 Croda International PLC

      7. 6.3.7 The Scoular Company

      8. 6.3.8 Omega Protein Corporation

      9. 6.3.9 Oceana Group Limited

      10. 6.3.10 Pelagia

      11. 6.3.11 GC Rieber Oils

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The Fishmeal and Fishoil Market market is studied from 2016 - 2026.

The Fishmeal and Fishoil Market is growing at a CAGR of 7.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

CRODA, Pelagia, Oceana Group Limited, GC Rieber Oils, The Scoular Company are the major companies operating in Fishmeal and Fishoil Market.

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