Global Fishmeal and Fish Oil Market
Fishmeal is the raw meal produced after processing and drying fish or fish components, whereas fish oil is generally a transparent brown / yellow fluid produced by pressing the cooked fish. Different types of species are used for the production of the fishmeal and fish oil. Fishmeal (FM) and fish oil (FO) are primarily generated from sustainably managed fish stocks for which there is no demand. They are also used as additives in fish and animals feed. They are not directly provided to the animal as feed additive. Fishmeal and fish oil are used as elevated protein components in animal feed and farmed fish.
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Some of the factors responsible for the growth of this market are:
- Increasing productivity of aquaculture: Aquaculture is the cultivation, breeding and processing of fishes, plants, algae, and other organisms in all the water environments in a controlled situation. It is used to generate food and commercial products, to preserve and generate healthier habitats and to reconstruct populations of endangered or endangered species. Growing demand for seafood is the major factor due to which aquaculture is increasing. Advanced aquaculture has the ability to track the document fish behavior, water quality and manage facility logistics. With increasing Internet of Things, the technology in the aquaculture uses smart sensors and other technologies so they can maintain the optimal conditions
- Rising popularity of seafood : Fish which is one of the popular seafood is considered as healthiest food. They have high content of vitamin D and protein. They are very beneficial for body and brain because they are good source of omega- 3 fatty acid. They also have the ability to decrease the risk of heart attack & strokes and manage the brain function. Seafood is highly considered by the people who prefer dieting because it has less than 2% fat. These are some of the factor due to which large population prefer seafood
The global fishmeal & fish oil market is segmented on the basis of source as salmon & trout, marine fish, crustaceans, tilapias, carps, and others; livestock applications as aquatic animals, swine, poultry, cattle, pets, and others and industrial applications as fertilizers, aquaculture, and pharmaceutical.
Few of the launches and acquisitions by some prominent player in the market are:
- In August 2019, Cooke Decision announced the acquisition of Omega Protein Corporation so they can strengthen their market in the seafood production. The animal feed ingredients manufactured by Omega Protein will help the company in their manufacturing of Atlantic salmon. This acquisition will also help them to meet the rising demand for omega-3 fatty acids
- In May 2017, Catalent Pharma Solution announced the launch of their new product Fish Oil Thin Shell EasyBurst Chewables. This new product will provide customer with small and chewable dosage form that doesn’t require any water. They also eliminate the problem related with the fish oil supplements such as odors, large capsule size, and unpleasant aftertaste
“According to Data Bridge Market Research, global fishmeal & fish oil market is expected to registering a substantial CAGR of 8.75% in the forecast period of 2019-2026”
Few of the major competitors currently working in the global fishmeal & fish oil market are FMC Corporation, Austevoll Seafood, Croda International Plc, OCEANA GROUP LIMITED, Omega Protein, Sürsan A.Ş, GC Rieber Oils AS, The TASA Group, Orizon, Pioneer Fishing, TripleNine Group A/S, Pesquera Exalmar, Corpesca S.A., FF Skagen A/S, Copeinca, Coplex International S.A.S., Mukka Sea Food Industries and others.
Fishmeals are used mainly in domestic animal diets for a nutrient-rich feed component, sometimes used as a high-quality organic fertilizer. They can be manufactured using different seafood. Fish oil and fishmeal are full of high nutritional content and are very beneficial for health. They are easily digestible by other fish. Fishmeal has the ability to balance the minerals, amino acid, fatty acid and phospholipids which help in increasing the growth rate and overall production yield.
