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Global Fishmeal & Fish Oil Market to reach USD 9.02 billion by the end of 2029

Global Fishmeal & Fish Oil Market Size study & Forecast, by Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, Carps), by Application (Aquaculture & Aquatic Feeds, Land Animal Feeds and Livestock, Agriculture and Fertilizers, Pharmaceuticals, Dietary Supplements) and Regional Analysis, 2022-2029

Product Code: OIRFB-37118700
Publish Date: 25-01-2023
Page: 200

Global Fishmeal & Fish Oil Market is valued at approximately USD 5.66 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.0% over the forecast period 2022-2029. Fishmeal is a leading source of protein that is mostly fed to cattle and aquaculture animals. Also, fish oil is a yellow or brown liquid that is derived from pressing the cooked fish. These fishmeal and fish oil are used as high-protein components. The growing awareness about livestock and pet health and nutrition, the rising need for improving productivity and environmental performance of aquaculture, and the significant rise in the aging population are the primary factors that are propelling the market growth across the globe.

The thriving growth of the pharmaceutical industry is fueling the demand for fishmeal and fish oil because of their high nutritional content and desirable health benefits. According to Statista, in 2018, the global pharmaceutical sector generated revenue of USD 1204.8 billion and the amount increased and reached 1423.5 in 2021. Also, the pharmaceutical industry is projected to progressively grow, thus, in turn, it is bolstering the growth of the market. Moreover, surging demand for organic fertilizers, as well as sustainable intensification of aquaculture are presenting various lucrative opportunities over the forecasting years. However, the increasing allergic and toxic reactions from consuming herring and anchovies and excessive use of alternative feed ingredients are hindering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Fishmeal & Fish Oil Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing awareness regarding health and nutrition of livestock and pet animals, along with the presence of well-established industry players. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising pet humanization trend, increasing disposable income, and growth of pharmaceutical industry in the market space.

Major market players included in this report are:
Croda International Plc
The Scoular Company
GC Rieber Oils
Oceana Group Limited
FMC Corporation
Austevoll Seafood ASA
Omega Protein Corporation
Dai Dai Thanh Seafoods
Asia Fish Oil Corporation

Recent Developments in the Market:
 In February 2022, The Scoular Company (US) announced the introduction of a new fishmeal facility in Myanmar, which aims on boosting its production capacity across the country. This launch resulted from the rising demand for fishmeal in Myanmar and other Asian countries.
 In September 2021, The Scoular Company (US) declared the launch of its brand, Encompass, with the objective of offering fishmeal for aquaculture and pet animals.
 In October 2020, FKS Multi Agro (Indonesia) unveiled its plans to invest USD 234 million, which it raised as a loan from various local and foreign banks as part of its aggressive expansion plans. This strategic initiative emphasizes on growing the animal feed business and reinforcing its distribution system across the country.

Global Fishmeal & Fish Oil Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Source, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Source:
Salmon & Trout
Marine Fish
By Application:
Aquaculture & Aquatic Feeds
Land Animal Feeds and Livestock
Agriculture and Fertilizers
Dietary Supplements

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Fishmeal & Fish Oil Market, by Region, 2019-2029 (USD Billion)
1.2.2. Fishmeal & Fish Oil Market, by Source, 2019-2029 (USD Billion)
1.2.3. Fishmeal & Fish Oil Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Fishmeal & Fish Oil Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Fishmeal & Fish Oil Market Dynamics
3.1. Fishmeal & Fish Oil Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing awareness about livestock and pet health and nutrition Thriving growth of the pharmaceutical industry
3.1.2. Market Challenges Increasing allergic and toxic reactions from consuming herring and anchovies Excessive use of alternative feed ingredients
3.1.3. Market Opportunities Surging demand for organic fertilizers Sustainable intensification of aquaculture
Chapter 4. Global Fishmeal & Fish Oil Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Fishmeal & Fish Oil Market, by Source
6.1. Market Snapshot
6.2. Global Fishmeal & Fish Oil Market by Source, Performance – Potential Analysis
6.3. Global Fishmeal & Fish Oil Market Estimates & Forecasts by Source 2019-2029 (USD Billion)
6.4. Fishmeal & Fish Oil Market, Sub Segment Analysis
6.4.1. Salmon & Trout
6.4.2. Marine Fish
6.4.3. Crustaceans
6.4.4. Tilapia
6.4.5. Carps
Chapter 7. Global Fishmeal & Fish Oil Market, by Application
7.1. Market Snapshot
7.2. Global Fishmeal & Fish Oil Market by Application, Performance – Potential Analysis
7.3. Global Fishmeal & Fish Oil Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Fishmeal & Fish Oil Market, Sub Segment Analysis
7.4.1. Aquaculture & Aquatic Feeds
7.4.2. Land Animal Feeds and Livestock
7.4.3. Agriculture and Fertilizers
7.4.4. Pharmaceuticals
7.4.5. Dietary Supplements
Chapter 8. Global Fishmeal & Fish Oil Market, Regional Analysis
8.1. Fishmeal & Fish Oil Market, Regional Market Snapshot
8.2. North America Fishmeal & Fish Oil Market
8.2.1. U.S. Fishmeal & Fish Oil Market Source breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Fishmeal & Fish Oil Market
8.3. Europe Fishmeal & Fish Oil Market Snapshot
8.3.1. U.K. Fishmeal & Fish Oil Market
8.3.2. Germany Fishmeal & Fish Oil Market
8.3.3. France Fishmeal & Fish Oil Market
8.3.4. Spain Fishmeal & Fish Oil Market
8.3.5. Italy Fishmeal & Fish Oil Market
8.3.6. Rest of Europe Fishmeal & Fish Oil Market
8.4. Asia-Pacific Fishmeal & Fish Oil Market Snapshot
8.4.1. China Fishmeal & Fish Oil Market
8.4.2. India Fishmeal & Fish Oil Market
8.4.3. Japan Fishmeal & Fish Oil Market
8.4.4. Australia Fishmeal & Fish Oil Market
8.4.5. South Korea Fishmeal & Fish Oil Market
8.4.6. Rest of Asia Pacific Fishmeal & Fish Oil Market
8.5. Latin America Fishmeal & Fish Oil Market Snapshot
8.5.1. Brazil Fishmeal & Fish Oil Market
8.5.2. Mexico Fishmeal & Fish Oil Market
8.5.3. Rest of Latin America Fishmeal & Fish Oil Market
8.6. Rest of The World Fishmeal & Fish Oil Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Croda International Plc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Pelagia
9.2.3. The Scoular Company
9.2.4. GC Rieber Oils
9.2.5. Oceana Group Limited
9.2.6. FMC Corporation
9.2.7. Austevoll Seafood ASA
9.2.8. Omega Protein Corporation
9.2.9. Dai Dai Thanh Seafoods
9.2.10. Asia Fish Oil Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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