Market – Overview
The escalated need to use Fish byproducts to feed poultry, pigs, and other farmed fish is growing in recent times. Reports that gauge the food, beverage and nutrition industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is on track to achieve a CAGR of 7.8 % in the upcoming forecast period.
An elevated demand for feed additives is expected to constructively shape the fishmeal market in the forecast period. Moreover, the boost in seafood consumption is expected to have a positive impact on the market for fishmeal around the world. Also, the demand for protein-rich animal feed and escalating awareness about livestock health is projected to motivate the fishmeal market in the impending period.
The progress of the market is expected to capture increased momentum in the coming years primarily due to the presence of conducive government policies. The growth turnaround in the market is expected to activate new opportunities for expansion of the market. The improvements in various domestic economies are expected to motivate the development of the market in the upcoming period. The accessibility to key tactical opportunities leading to consequent stabilization of inflation is anticipated to create promising openings for expansion in the coming years. In the coming years, the influence exerted by relatively high-income levels in nations around the world and the potential gains observed to some of the currencies in the world is expected to reinforce the evolution of the market in the forecast period. A considerable rise in the number of investors in the market is projected to create an advantageous scenario for the progress of the market in the forecast period.
The central competitors operating in the fishmeal market globally are FMC Corporation (U.S.), Empresas Copec S.A. (Chile), Oceana Group Limited (South Africa), Croda International Plc. (U.K), Pioneer Fishing (Pty) Ltd. (South Africa), Biomega AS (Norway), Calysta, Inc. (U.S.), The Scoular Company (U.S.), Omega Protein Corporation (U.S.), and Aker Biomarine Antarctic AS (Norway).
The segmental evaluation of the fishmeal market suppliers is conducted on the basis of type, livestock and region. Based on the type, the fishmeal industry segment into trout, tilapias, carps, salmon, crustaceans, and others. In all the segments based on types, the salmon segment is controlling the fishmeal market followed by the trout due to the incidence of an elevated amount of proteins and vitamins, and its elevated use in the feed products for high nutrition values. Based on the livestock, the fishmeal industry value is segmented into aquatic, swine, ruminants, poultry, and others. Among all the segments, the aquatic segment is controlling the market based on the amplified use of marine products globally. Conversely, the poultry segment is expected to observe steady expansion over the forecast period due to an increase in demand for meat products and meat. The regions included in the fish meal market are North America, Europe, Asia Pacific, and the rest of the world.
Detailed Regional Analysis
The regional assessment of the fishmeal market covers regions such as Europe, Asia Pacific, North America, and rest of the world. The Asia Pacific region is controlling the fishmeal market trailed by the North American region. In the Asia Pacific region, India and China are the key leaders for fishmeal, which have led to the market expansion of this region. Also, the escalating consumption of seafood and aquatic animals in the rising countries of the Asia Pacific region has optimistically resulted in the development of the fishmeal market. Furthermore, rising demand for nutritive additives in feed, such as fishmeal has a helpful influence in nations like the U.K, Germany, and France in the European region, which is expected to improve the fishmeal industry throughout the forecast period.
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