Fish Meal Market is segmented By Source (Marine Fish, Salmon & Trout, Crustaceans, Tilapia, Others), By Nature (Organic, Conventional), By Application (Dietary Supplements, Pharmaceuticals, Animal Feed, Fertilizers, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Fish Meal Market is estimated to grow at a CAGR of 7.8% duirng the forecast peirod 2024-2031
Fish meal is a brown solid material obtained from the bones and offal of fish, usually from oily varieties such as anchovy, sardine, menhaden, and capelin which are not suitable for human consumption. Made into a powder or cake, fish meal is commercially traded as a high-nutrient feed ingredient as it has a high protein level and significant amounts of minerals and lipids. The easily digestible nature of fish meal made it suitable for use in diet supplementation for farm animals including swine, poultry, and livestock. Fishmeal provides large quantities of energy per unit weight and is a good source of lipids (oils), minerals, protein, and vitamins, very limited carbohydrates in fishmeal. Over one-third of fish production globally is used in the production of fish meal and owing to its high penetration as an animal feed ingredient
Market Summary
| Metrics | Details |
| Market CAGR | 7.8% |
| Segments Covered | By Source, By Nature, By Application, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The high nutritional attributes of the fish meal are surging its utilization in the feed industry
High-quality fishmeal normally contains between 60% to 72% raw protein by weight. From a nutritional viewpoint, fishmeal is the preferred animal protein supplement in the diets of farm animals and often the significant source of protein in diets for fish and shrimp. Typical diets for fish contain 32% to 45% total protein by weight, and diets for shrimp contain 25% to 42% total protein.
Animal protein is built from the combinations of 22 amino acids, however, animals do not make all 22 of these amino acids in their body. Amino acids are essential for animals and animals can't synthesize them. Hence it is supplied to animals through the feed. Some of the most common amino acids in the fish diet include Threonine, Histidine, Leucine, Valine, Tryptophan, Methionine, Arginine, Isoleucine, Phenylalanine, and Lysine increase the demand for fish meal.
Rising animal-growing activities are spurring the demand for fish meal
Economic requirements due to poor landings, low prices in old markets, and high fuel prices are forcing industries to explore new markets and products that take advantage of the unique properties of fish oils and proteins. Fish meal processing proceeds to develop fresh raw materials and new, low-temperature processing techniques that drive great nutritional value. New special meals are gaining attraction in feeding farmed fish, early-weaned pigs, pets, and ruminants growing the demand for fish meals.
Fish meal is a rich source of omega-3 fatty acids – EPA and DHA. When supplied to food animals, these omega-3 fatty acids are deposited in the meat and depot fat. Approaches for poultry with an equal amount of omega-3 fatty acids to incline fish are being developed. Eggs with a high omega-3 fatty acid content, flavor, and good functionality are gaining prominence.
Various types of fish replacement restrain the fish meal market
The growing trend of sustainable production and plant-based feed led to the development of various alternatives to fishmeal. Omega-3 derived from marine algae is limiting the consumption of fish meals in recent years. Among plant protein sources, soybean is considered sufficient in its respects as it is also a source of lecithin and oil aside from a good level of crude protein. Soybean meal is broadly utilized as a primary plant protein source in aquafeed and a replacer for fishmeal which restrains the fish meal market.
Several other feed ingredients are used to replace fishmeal due to their nutrient values, particularly crude protein and lipid quality and acceptability by customers, market price, commercial availability, the yield of healthy and good growth of fish, and preference for sustainable and sustainable renewable materials.
Market Segmentation Analysis
Increasing demand for dairy production boosts the demand
The fishmeal sold in the U.S. developed commodity-grade feed intended for poultry production. Today, fishmeal is increasingly used in the dairy industry while a particular select-grade feed is given to aquatic and swine species. Shifts in markets, prices, and technology are significant factors contributing to the increasing demand. Initially, the poultry industry used fishmeal as just another feed ingredient. Soybean meal, amino acids, and extra fat are used to substitute fishmeal without any loss in poultry performance.
With improvements in manufacturing technology, fishmeal is customized to meet specific livestock feed demands in an industry where special meals become more important for their growth. Like dairy production, feed quality impacts product quality. The requirement of proteins, amino acids, and fats in other dairy animals is more than in other animals, increasing the demand for fish meals in animal feed. Fishmeal improves dairy cow reproductive performance.
Farmers give fishmeal to layers to produce omega-3 or heart-healthy eggs. The swine industry of the U.S. region also uses fishmeal and milk powders in piglets' weaning diets. In Europe, fish oil is no longer essentially utilized in the hydrogenation industry but is used extensively in aquaculture diets, primarily for Chilean salmons or Norwegian.
Growing concern about healthy and safe food like meat, bone, and blood meals in ruminant diets boosts the market demand. With its change into specialty markets, fishmeal is no longer under the same economic pressure as other commodities. Fishmeal prices led to shadow for soybean meal, bone meal, meat, and feather meal in the past.
Today, fishmeal costs significantly high as much as thrice than soy. Soymeal price is volatile to weather conditions and diseases resulting in low soy production.
Market Geographical Share
Increasing aquaculture activity boosts the demand for fish meal
The market in Asia-Pacific dominates the global fishmeal market due to increasing livestock raising activities, aquaculture, dairy production, and other various types of livestock farming increasing the demand for nutrient-rich feeds. Further, growing aquaculture farming in various countries like Thailand, Vietnam, India, and Japan leads to the region's growth.
In countries such as Vietnam and Cambodia, scrap fish meal is used for supplementary fishpond production and mixed into domestic animal feeds. Fish meal is normally sold in powder form and regularly used in composite foods for poultry and farmed fish. Fish meal is more important to be utilized as a fertilizer.
The fish meal gives an excellent source of by-pass protein for ruminants and a good source of quality protein for monogastric; it provides a good nutritional source of phosphorus and calcium in animal feeds.
Companies and Competitive Landscape
Wide usage of fish meal in animal feed made the market competitive
The global fish meal market is highly fragmented with many players operating in the market. Croda International Plc, ADM Animal Nutrition, OCEANA GROUP LIMITED, Omega Protein Corporation, Austevoll Seafood ASA, Calysta, Inc., AKER BIOMARINE, The Scoular Company, Animal feeds International Corporation, Cargill, Incorporated, AngelYeast Co., Mukka Seafood Industries Limited, Raj Fishmeal and Oil company, Calysta, Inc. and Cargill, Incorporated are some of the leading market players
- In January 2021, Calysseo, a joint venture among global animal nutrition leader Adisseo and protein innovator Calysta, is building the first facility in Chongqing, China, which is expected to become the world's first commercial-scale production facility of single-cell protein.
- On 20 February 2020, Bluestar Adisseo Company (Adisseo), feed additives for animal nutrition, and leading alternative protein producer, Calysta, signed an alliance to establish a joint venture named Calysseo to develop FeedKind, an innovative feed solution for aquaculture, and to provide exclusive supply for Asian markets.
- In October 2018, Cargill has launched a plant-based fish oil alternative that provides long-chain omega-3 fatty acids for aquafeed, Latitude. It is 100% accountable due to Cargill managing the supply chain from the canola seed to crop cultivation and oil production.
COVID-19 Impact on Market
The pandemic decreases the demand for fish meal
COVID-19 impacts fish production and the fish meal market. Fisheries value chains are enduring higher demand from customers coupled with a declining drift in the sustainability of some fish stocks. Capturing fish production has reduced and stabilized. The full range of activities lacking to deliver fish and fish meal from aquaculture and fisheries production to final customers are complicated, and technologies used to manage these value chains vary from artisanal to highly industrial.
Essential activities in a fisheries or aquaculture and supply chain are fishing, aquaculture production, processing, and distribution, transport of inputs, and retail and wholesale marketing. Each of these activities is of equal importance to the success of the supply chain. Each stage of the chain is susceptible to being disrupted or stopped by impacts arising from COVID-19 and related measures.
The buyer-seller links are ruptured by the disease or containment measures; the outcome will be a cascading chain of disruptions that will affect livelihoods and food security. Households experiencing financial distress may slow down their spending, which impacts the demand for fish meals.
