Market Size of Fishmeal And Fishoil Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 8.28 Billion |
| Market Size (2029) | USD 14.55 Billion |
| CAGR (2024 - 2029) | 11.93 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fishmeal And Fishoil Market Analysis
The Fishmeal And Fishoil Market size is estimated at USD 8.28 billion in 2024, and is expected to reach USD 14.55 billion by 2029, growing at a CAGR of 11.93% during the forecast period (2024-2029).
- Fish oil and fish meal are high-protein ingredients in the feeds given to fish and other farm animals.
- According to the International Fish Oil and Fish Meal Organisation (IFFO), fishmeal production increased by 2.4 million metric tons in 2021, compared to 2.3 million metric tons in 2020, an increase of 3.6%. Though fish meal production is rising, fish oil production declined by 6%. Since the declining trend was due to the fewer export opportunities, countries focused on collaborations to increase the scope for export. For instance, in 2022, Greenland partnered with the Danish Government to update policies to implement changes in current feed regulations to enhance its fishmeal and fish oil export opportunities.
- The fish oil market is further driven by research and development efforts toward improving procurement practices, enhancing the extraction process of omega-3 fatty acids, and sustainably streamlining the entire value chain. As health experts also recommend daily dietary intake of omega-3 fatty acids, fish oil consumption has increased consequentially.
Fishmeal And Fishoil Industry Segmentation
Fishmeal is grounded fish used as fertilizer or animal feed for farmed fish. Fish oil is extracted from the tissue of oily fish and contains mainly Omega-3, which is widely used in the pharmaceutical and cosmetic industries due to its significant benefits.
The fishmeal and fish oil market has been segmented based on source (salmon & trout, crustaceans, marine fish, carps, tilapias, and others), application (aquatic animals, poultry, swine, pets, and others), and geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa).
The report offers market estimation and forecasts in value (USD) for the abovementioned segments.
| Species Type | |
| Salmon & trout | |
| Crustaceans | |
| Marine fish | |
| Carps | |
| Tilapias | |
| Others |
| Application | |
| Poultry | |
| Swine | |
| Pets | |
| Aquatic animals | |
| Others |
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Fishmeal And Fishoil Market Size Summary
The fishmeal and fish oil market is poised for significant growth, driven by the increasing demand for high-protein ingredients in animal feeds and the rising consumption of omega-3 fatty acids. The market is characterized by a robust expansion in fishmeal production, although fish oil production has faced challenges due to reduced export opportunities. Collaborative efforts among countries, such as those between Greenland and Denmark, aim to enhance export capabilities by updating feed regulations. The market's growth is further supported by advancements in research and development, which focus on improving procurement practices and streamlining the value chain sustainably. The abundance of marine fish species like anchovies and sardines, which are rich in protein and oils, continues to fuel the demand for fishmeal and fish oil, particularly in regions with strong marine fish industries.
North America, with the United States at the forefront, dominates the global fishmeal and fish oil market in terms of production and consumption. The extensive Exclusive Economic Zone under U.S. control provides ample opportunities for marine resource exploitation, contributing to market growth. The global market is highly fragmented, with small and medium-sized enterprises playing a significant role alongside major companies engaged in strategic mergers and product innovations. Investments and expansions, such as those by Pesquera Exalmar and The Scoular Company, underscore the industry's focus on sustainable production and consistent product quality. The ongoing expansion of fisheries and aquaculture, coupled with improvements in post-harvest methods and distribution channels, is expected to further drive the market's growth in the coming years.
Fishmeal And Fishoil Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in the Fish Meal and Fish Oil Production
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1.2.2 Demand for Quality Animal Feed
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1.3 Market Restraints
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1.3.1 High Prices of Fish Meal and Fish Oil Products
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1.3.2 Threat to Fish Reserves
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Species Type
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2.1.1 Salmon & trout
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2.1.2 Crustaceans
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2.1.3 Marine fish
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2.1.4 Carps
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2.1.5 Tilapias
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2.1.6 Others
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2.2 Application
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2.2.1 Poultry
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2.2.2 Swine
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2.2.3 Pets
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2.2.4 Aquatic animals
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2.2.5 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Spain
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2.3.2.6 Norway
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 South Africa
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2.3.5.4 Egypt
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2.3.5.5 Rest of Middle East and Africa
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Fishmeal And Fishoil Market Size FAQs
How big is the Fishmeal And Fishoil Market?
The Fishmeal And Fishoil Market size is expected to reach USD 8.28 billion in 2024 and grow at a CAGR of 11.93% to reach USD 14.55 billion by 2029.
What is the current Fishmeal And Fishoil Market size?
In 2024, the Fishmeal And Fishoil Market size is expected to reach USD 8.28 billion.
