According to the current analysis of Reports and Data, the fishmeal fish oil marketwas valued at USD 8.87 Billion in 2019 and is expected to reach USD 15.8 Billion by 2027 at a CAGR of 8.8%. Fishmeal is the flour processed out of the fish after milling and drying the fish and its selective body parts, whereas animal oil is that the brown or yellow liquid extracted out by pressing the cooked fish. The fishmeal fish oil are majorly utilized as an additive within the animal and fish feeds. Both fishmeal and animal oil are employed as high protein ingredients within the feeds given to farmland animals and farmed fishes. Fish oil is majorly utilized in the farm fish feeds with a minor share used in land animal feeds.
Moreover, fishmeal isn't fed directly (undiluted) to the animals as a feed additive. It has to be added in animal feeds by following typical inclusion rates for fishmeal, which vary among different feeds. The assembly of fishmeal and animal oil utilizes different species of fishes. However, oily fish species like anchoveta fish are usually used.
Fish meal is considered an exceptional source of protein for all farmed and aqua cultured animals. It is rich in essential amino acids, particularly lysine, cysteine, methionine, and tryptophan, which are key limiting amino acids for growth and productivity in the notable farmed species. Animal health is improved with fish meal and fish oils in their diet. The inclusion of fish meal fish oil in animal feed results in improved production efficiencies across all major farmed species. It has the potential for the dietary manipulation of tissue/product composition to produce 'healthier' foods for use in the human food chain. The waste products of animals fed fish meal and fish oil contain less nitrogen and phosphorus, reducing the environmental impact of effluent disposal Fish meal is a commercial product obtained from bones of wild-caught small marine fishes. The procedure includes fish trimmings or drying fish and then crushing it.
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Competitive Landscape:
The research report offers details about leading companies in the global Fishmeal Fish Oil market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Market Dynamics:
Increasing consumer inclination towards functional, organic and probiotic-based food drinks is providing impetus to the growth of global food and beverage industry. Various studies have come with health benefits associated with ethnic and organic food products. These foods improve cardiovascular health, improves arthritis, digestive issues, and other inflammatory conditions. Consumers are gradually focusing on mindful eating and consuming food for health and wellness. Changing eating and dietary patterns of consumers is prompting brand owners and new entrants to introduce healthy foods options. Several clean-label products have been introduced in the market and consumer curiosity for new products is immense
Growing middle class consumers with rising income in developing countries such as India and China will boost food beverage market growth. Moreover, increasing consumer preference for procuring food and beverage items from online platforms due to variety, cost and time-saving will foster market size through 2027.
Some of the Leading Market Players Are Listed Below:
- Austevoll Seafood ASA (Norway),
- Croda International Plc. (U.K.),
- Oceana Group Limited (South Africa),
- FMC Corporation (U.S.),
- Omega Protein Corporation (U.S.),
- Tasa (South Africa),
- Marvesa Oils Fats B.V. (Netherlands)
- GC Rieber Oils AS (Norway).
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Market Segmentation:
Fishmeal Fish Oil Market Segmentation based On the basis of source:
- Salmon trout
- Crustaceans
- Marine fish
- Carps
- Tilapias
- Others (eels, crabs, and lobsters)
Fishmeal Fish Oil Market Segmentation based On the basis of livestock application:
- Aquatic animals
- Poultry
- Swine
- Cattle
- Pets
- Others (equine and other marine species)
Fishmeal Fish Oil Market Segmentation based On the basis of industrial application:
- Aquaculture
- Pharmaceuticals
- Fertilizers
Fishmeal Fish Oil Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Fishmeal Fish Oil Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development.
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