Fishmeal Market

Increasing Production of Industrial Livestock to Boost Market Growth

According to market research, in contrast to grazing and mixed farming, industrial production of mutton, cattle, hog, and poultry has increased, necessitating the need for high-quality animal feed, driving demand for feed ingredients like fishmeal. Fishmeal aids in increasing feed effectiveness and promoting the digestibility, nutritional uptake, and absorption of feed. By utilizing economies of scale, industrial livestock production has ensured a high volume of meat output at a low cost.

As per market data, the industrial livestock production industry has had a strong expansion, which has increased demand for high-quality animal feed that is used to raise a variety of livestock, including cattle, swine, goats, fowl, fish, and shrimp. Industrial livestock farms have increased worldwide due to the vital role that industrial livestock production plays in supplying the  human population's nutritional needs. It has also increased the demand for animal feed and its components, thus improving market CAGR. As a result, the market is expanding due to increased industrial livestock production.

Fishmeal is used as a natural, protein-rich component of animal feed. The International Fishmeal and Fish Oil Organization (IFFO) states that typical fishmeal has a crude protein content of 64-67% and up to 12% fat.

Therefore, increasing scientific innovation and using fish byproducts in feeds and the pharmaceutical industry are helping the fishmeal market revenue growth ly.

Additionally, innovative fishmeal products are becoming increasingly well-liked as a prominent trend in the  fishmeal market. Major players in the fishmeal industry are launching products on the market to meet the rising demand for fresh, nutrient-dense fishmeal for animals. For instance, Interpet, a UK-based fish-keeping, and aquarium care company, introduced Blagdon Fit & Wild Pond Sticks in July 2022. This new pond fish food recipe is made from insects and small crustaceans and is sold under the Blagdon brand.

The Global Fishmeal Market Industry experiences a notable surge in demand for aquaculture feed, driven by the increasing global population and the corresponding need for protein-rich food sources. As aquaculture continues to expand, fishmeal serves as a critical ingredient in fish feed, providing essential nutrients for optimal growth. In 2024, the market is projected to reach 10.3 USD Billion, reflecting the industry's responsiveness to the growing aquaculture sector. This trend is expected to persist, with projections indicating a market value of 20.2 USD Billion by 2035, suggesting a robust compound annual growth rate of 6.28% from 2025 to 2035.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. According to market statistics, North America is one of the most promising regions for expanding the fishmeal market, accounting for USD 3959.04 million in 2021, and is expected to exhibit a 46.80% CAGR during the study period. Fishmeal is one of the most popular ingredients for animal feed or pet food because of its high protein content, general quality, and nutritional value. Due to strong demand, the North America fishmeal market has increased in size.

The primary causes driving the segment's growth might be increased fish production, poultry farming, rising pork consumption, pig farming, and rising pet food consumption due to the growing trend of having pets.

Furthermore, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe's Fishmeal market is anticipated to grow significantly over the forecast period. The demand for salmon fishmeals in the fishmeal market will continue to increase due to the pervasiveness of a sizable food industry and restaurant chains Sales of fishmeals will also continue to rise due to rising per capita seafood spending and growing public knowledge of the health benefits of seafood. Further, the Germany fishmeal market held the largest market share, and the UK fishmeal market was the fastest-growing market in the European region.

Over the forecast period, the Asia-Pacific Fishmeal Market is anticipated to register a CAGR of 6.5%. The need for high-quality fishmeals is being fueled by improvements in the shrimp farming business, pushing farmers' desire to secure high-protein fishmeals in their aquatic systems. Additionally, a constrained supply and rigorous fishing regulations enable local businesses to create safer and more effective means of gathering and selling fishmeals, fostering market expansion. Moreover, China's fishmeal market held the largest market share, and Japan was the fastest- growing market in the region. 

Players of the market focus on the growing need for premium feed additives like a fishmeal as meat and dairy products become more industrialized to stimulate reproduction, boost metabolism, stop disease outbreaks, etc. The rise in chronic diseases is connected to the consumption of heavy metals like mercury, lead, cadmium, etc., that are found in conventionally-cultured seafood. Thus, major market developments are trying to solve these problems to capture a bigger share of the fishmeal market.

According to the market competitive landscape, the players are focusing on producing fishmeal products that are high in nutrition. Most fishmeal industry products are either produced from by-products of the fish processing industry or are derived from small, bony fish that are unfit for human consumption. As a result, animal feed made from fishmeal is cost-effective due to the valorization of byproducts. The demand for the product is therefore driven by the improvement of animal feed made possible by fishmeal. Fishmeal industry products have a high energy content per unit weight and are a highly digested feed element.

The ingredient is a great source of vitamins, minerals, oils (lipids), protein, and minimal carbohydrates. Major market players include FMC Corporation (US), Empresas, Copec S.A. (Chile), and Croda International Plc. (UK), Omega Protein Corporation (US), Calysta Inc. (U.S.), Biomega AS (Norway), Austevoll Seafood ASA (Norway), Pioneer Fishing (Pty) Ltd. (South Africa), Aker Biomarine Antarctic AS (Norway), Oceana Group Limited (South Africa), and Novus International Inc. (US).

The biorefining experts at biomega enabled them to create and patent their own patented continuous enzymatic hydrolysis process technology. The ideal processing conditions are necessary to optimize product attributes. As a result, it created and patent several reactors tailored especially for particular applications. Salmon, chicken, and turkey pet food and meal ingredients are currently produced using the method. In April 2021, the international manufacturer of fish oil and fishmeal, Biomega AS, will expand its business by funding a biorefinery in Denmark.

The company wants to strengthen its position in the fishmeal industry by promoting the development of products derived from salmon with the help of this facility's expansion.

Also, innovative process solutions are provided by Organic Technologies to the custom chemical manufacturing sector. It is based in east central Ohio and concentrates on toll production, specialized olefins, and fine chemical intermediates. Its goods, including our certified sustainable AlaskOmega Omega-3 product line, are also used in taste, functional food, and nutraceutical markets. Two additional DHA omega-3 concentrates were added to organic Technologies' existing product line in October 2019 and were positioned as alternatives to tuna oil.

Recent News:

In July 2023, an experimental endeavor was initiated by the Kerala University of Fisheries and Ocean Studies (Kufos) to convert organic refuse into fish meal. Using black soldier fly larvae, the initiative intends to produce the protein required for fish feed from organic waste. For this purpose, organic waste will be separated at the source. The initiative is currently being executed in partnership with Amala Eco Clean Private Limited, an Alappuzha-based organization specializing in the management of organic waste. Using black soldier fly larvae, the initiative intends to produce the protein required for fish feed from organic waste.

September 2022: Scoular, one of the largest suppliers of feed ingredients in the world, introduced the Encompass brand of fishmeal in September 2022 as part of its aggressive expansion into the aquafeed industry. The demand for fishmeal has increased due to the expansion of the aquaculture and pet food sectors. This product provides valuable omega-3 fatty acids and easily digestible protein, sourced from a diverse range of species, characteristics, and countries. 

Scoular provides a global selection of marine proteins sourced from over 40 countries throughout the year, encompassing a substantial inventory of sustainable products. For decades, Scoular has been involved in fishmeal on a global scale. The company intends to pursue aggressive global expansion, has a significant presence in Mexico, and is the largest importer of fishmeal in the United States. Investing $12 million with two partners in a fishmeal processing facility in Oregon that serves pet food and aquaculture manufacturers with locally sourced fish processing waste.

Scoular's initial investment in fishmeal production within the United States is anticipated to commence operations at the facility in 2022.