Fish meal is a product obtained by removing the water and most of the oil from the fish waste. It is a quality source of mineral, protein and vitamins. Fish meal is available in the form of powder and used in various applications such as aquaculture farms, poultry food and pig food. Aquaculture is the major consumer of the fish meal. Fish meal witness increasing demand from aquaculture and animal feed sector. Fishmeal is given to farm animals to improve productivity and also to protect health. It also benefits farm animals by reducing the need of antibiotics and various drugs. Fishmeal improves disease resistance in animals as it has anti-inflammatory properties
Fish Meal Market Segmentation
On the basis of regions the fish meal market is segmented into North America, Latin America, Western Europe, Asia Pacific and Middle East and Africa. Currently, North America dominates the fish meal market. Fish meal market can also be segmented on the basis of sector in which it is used .It includes aquaculture, chicken, pig and other. On the basis of usage of fishmeal in aquaculture it can be further segmented into marine fish, salmon and trout, tilapias, cyprinids, eels, crustaceans and others.
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Fish Meal Market: Region-wise outlook
Fish meal market is expected to exhibit single digit growth over the forecasted period. The demand for the fishmeal has increased rapidly, especially in the emerging aquaculture regions such as Asia. Companies in U.S. are continuously launching new varieties of sea food in order to meet the needs of customer in effecient way. Company named Open Ocean Trading in order to innovate fish industry is offering sea food buyers purchasing platform that further enhances the stability and profitability of the sea food industry. The main fish meal producing regions are North America, Europe Asia Pacific and Japan.
Fish Meal Market: Drivers
Increasing consumer awareness regarding the health and environmental concerns promotes the usage of bio fertilizers which includes natural ingredients such as fish meal. Increasing demand of bio fertilizer in agriculture to protect the soil quality fuel the growth of fish meal based fertilizer. Other factor that promotes the growth of fish meal is nutritional properties associated with fish meal. Factors that hamper the growth of fish meal market are availability of various alternate protein feeds including meat and soybean meal. Other factor that restricts the growth of fish meal market is the development of feed mixing industries. The International Fishmeal and Oil Organization developed scheme for quality supply of fish meal with the help of other stakeholders. This program allows fishmeal producers to demonstrate that raw material used comes from the fisheries managed according to the United Nations Food and Agriculture Organization Code of Responsible Fishing.
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Fish Meal Market: Key Players
Key players operating in the fish meal market are Orizon SA, Oceana Group Limited, Pioneer Fishing (Pty) Ltd, Triplenine Group, Ff Skagen A/S, Pesquera Diamante S.A, Austevoll Seafood Asa, Austevoll Seafood Asa, Open Ocean Trading LLC.