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Global Fishmeal and Fish Oil Market Size, Share, Forecast: By Type: Fish Meal, Fish Oil; By Species: Salmon and Trout, Crustaceans, Marine fish, Carps, Tilapias, Others; By Application: Poultry, Swine, Aquatic Animal, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Fishmeal and Fish Oil Market Outlook
The global fishmeal and fish oil market size reached approximately USD 12.61 billion in 2023. The market is estimated to grow at a CAGR of 6.9% between 2024 and 2032, reaching a value of around USD 23.0 billion by 2032.
Key Trends in the Market
Fishmeal is a finely powdered substance that undergoes a meticulous process involving cooking, pressing, drying, and milling freshly caught raw fish. On the other hand, fish oil is a liquid extract obtained by pressing cooked fish. Both of these remarkable products exhibit extraordinary nutritional value, which is why they are widely recognised to provide significant health benefits to farmed animals.
- One of the primary drivers aiding the fishmeal and fish oil market demand is the rapid expansion of the aquaculture sector. Aquaculture has emerged as a major source of fish production, driven by rising seafood consumption and the growing need for sustainable protein sources. Fishmeal and fish oil are crucial components in aquaculture feed formulations, providing essential nutrients for farmed fish, shrimp, and other aquatic species.
- Fishmeal and fish oil are well-known for their nutritional advantages, particularly their abundant levels of omega-3 fatty acids, namely EPA and DHA. Hence, the fishmeal and fish oil market growth can be associated with the growing recognition of the positive impacts of omega-3 fatty acids among consumers.
- Sustainability has become significant for many sectors due to the growing environmental awareness among consumers and stringent policies implemented by governments around the world. This is also an important global fishmeal and fish oil market trend. Overfishing and environmental concerns have led to the adoption of responsible sourcing practices, thus end-users are increasingly demanding certified and responsibly sourced fishmeal and fish oil.
Market Analysis
Based on type, the market is segmented into fish meal and fish oil. On the basis of species, the market can be bifurcated into salmon and trout, crustaceans, marine fish, carp, and tilapias, among others. The global fishmeal and fish oil market segmentation, based on application, include poultry, swine, and aquatic animal. The major regional markets for fish meal and fish oil are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global fishmeal and fish oil market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- FF SKAGEN A/S
- Sürsan A.Åž
- GC Rieber VivoMega AS
- The Scoular Company
- Omega Protein Corporation
- Oceana Group Limited
- Pelagia AS
- Diamond Aqua Fishes Meal
- Corporación Pesquera Inca S.A.C.
- Colpex International S.A.C.
- Others
Market Share by Species
According to the fishmeal and fish oil market analysis, salmon and trout represent a substantial market share as fishmeal is one of the primary nutritional ingredients for these fish. These fish species are extensively bred for their delectable meat, and the byproducts such as heads, bones, and trimmings are commonly utilised in the production of fishmeal and fish oil.
Market Share by Region
The Asia Pacific region accounts for a major portion of the market, primarily attributed to the increasing development of aquaculture. Furthermore, the regional fishmeal and fish oil market share is likely to expand during the forecast period due to the growing utilisation of fish meals and fish oil in various sectors as animal feed.
Europe, on the other hand, is projected to experience notable growth in the fishmeal and fish oil market, mainly due to ongoing transformations in the aquaculture sector. Additionally, the rising demand for aquatic feed additives is anticipated to further propel the market for fishmeal and fish oil in the region in the forthcoming years.
Competitive Landscape
The Scoular Company is an international agricultural business and commodity trading firm with its roots in the United States. Established in 1892 and headquartered in Nebraska, Scoular engages in diverse sectors within the agricultural sector, such as grain trading, feed ingredients, food ingredients, and animal nutrition. Scoular's expertise lies in procuring, storing, managing, processing, and promoting agricultural commodities and goods.
Omega Protein Corporation is one of the prominent companies in the food and supplement sector. The company was established in 1878 with the initial name Haynie Brothers and has since developed its portfolio to provide a wide range of nutritional products and animal feeds. The company’s main ingredients include Omega-3, which is procured from Menhaden.
Oceana Group Limited is one of the leading global fishing companies established in the year 1918. The company is headquartered in Cape Town, South Africa, and operates in the main business fields of harvesting, processing, and marketing of various marine products. The company has a wide array of frozen and canned products, which it supplies to regional and international markets.
Other market players in the fishmeal and fish oil market include FF SKAGEN A/S, Sürsan A.Åž, GC Rieber VivoMega AS, Pelagia AS, Diamond Aqua Fishes Meal, Colpex International S.A.C., and Corporación Pesquera Inca S.A.C. among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Species |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Fishmeal and Fish Oil Market Analysis
8.1 Key Industry Highlights
8.2 Global Fishmeal and Fish Oil Historical Market (2018-2023)
8.3 Global Fishmeal and Fish Oil Market Forecast (2024-2032)
8.4 Global Fishmeal and Fish Oil Market by Type
8.4.1 Fish Meal
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Fish Oil
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Fishmeal and Fish Oil Market by Species
8.5.1 Salmon and Trout
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Crustaceans
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Marine fish
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Carps
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Tilapias
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Fishmeal and Fish Oil Market by Application
8.6.1 Poultry
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Swine
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Aquatic Animal
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Fishmeal and Fish Oil Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Fishmeal and Fish Oil Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Fishmeal and Fish Oil Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Fishmeal and Fish Oil Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Fishmeal and Fish Oil Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Fishmeal and Fish Oil Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirate
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 FF SKAGEN A/S
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Sürsan A.Ş
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 GC Rieber VivoMega AS
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 The Scoular Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Omega Protein Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Oceana Group Limited
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Pelagia AS
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Diamond Aqua Fishes Meal
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Corporación Pesquera Inca S.A.C.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Colpex International S.A.C.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fishmeal and Fish Oil Market: Key Industry Highlights, 2018 and 2032
2. Global Fishmeal and Fish Oil Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Fishmeal and Fish Oil Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Fishmeal and Fish Oil Historical Market: Breakup by Species (USD Billion), 2018-2023
5. Global Fishmeal and Fish Oil Market Forecast: Breakup by Species (USD Billion), 2024-2032
6. Global Fishmeal and Fish Oil Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Fishmeal and Fish Oil Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Fishmeal and Fish Oil Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Fishmeal and Fish Oil Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Fishmeal and Fish Oil Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Fishmeal and Fish Oil Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Fishmeal and Fish Oil Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Fishmeal and Fish Oil Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Fishmeal and Fish Oil Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Fishmeal and Fish Oil Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Fishmeal and Fish Oil Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Fishmeal and Fish Oil Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Fishmeal and Fish Oil Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Fishmeal and Fish Oil Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Fishmeal and Fish Oil Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 12.61 billion.
The market is projected to grow at a CAGR of 6.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 23.0 billion by 2032.
The market is being driven by the rapid expansion of the aquaculture sector enhancing the demand for animal feed and the rising demand for omega-3 products due to its health benefits.
The major trends propelling the market growth are the rising focus on sustainability and its impact on the environment and the implementation of strict government policies to better manage the fishing and aquaculture sector.
The major regional markets for the products include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Salmon and trout, crustaceans, marine fish, carps, and tilapias, among others, are the different species considered in the market report.
The major players covered in the global fishmeal and fish oil market report include FF SKAGEN A/S, Sürsan A.S, GC Rieber VivoMega AS, The Scoular Company, Omega Protein Corporation, Oceana Group Limited, Pelagia AS, Diamond Aqua Fishes Meal, Colpex International S.A.C., and Corporación Pesquera Inca S.A.C., among others.
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