Aquatic animals segment dominated the fishmeal & fish oil market

The "Fishmeal & Fish Oil Market by Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, Carps), Livestock Application (Aquatic Animals, Swine, Poultry, Cattle, Pets), Industrial Application (Fertilizers, Aquaculture, Pharma), and Region - Forecast to 2022", The global fishmeal & fish oil market is estimated to be valued at USD 9.50 Billion in 2017 and projected to reach USD 14.28 Billion by 2022, at a CAGR of 8.50% from 2017.

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The global fishmeal & fish oil market is projected to grow due to factors such as rising use of fishmeal & fish oil in swine and poultry diets and improving productivity and performance of aquaculture.

With the rise in aquaculture production, large amounts of fishmeal are diverted from terrestrial livestock feed to aquatic feed. Fish oil is the principal source of both energy and essential fatty acids ; therefore, its usage in the aquaculture industry has increased. Fishmeal & fish oil offer many benefits to aquatic animals such as improved immunity against diseases, higher survival & growth, and reduced incidences of deformities.

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The use of fishmeal & fish oil is more in aquafeed due to their nutrient contents such as amino acids, essential fatty acids, and energy content. Also, supplementing aquaculture feed with fishmeal & fish oil effectively returns more sustainable non-food products back into the human food chain.

The fishmeal & fish oil market is diversified and competitive, with a large number of players. It is dominated by various players, depending on their core competencies. The key players in this market are FMC Corporation (U.S.), Austevoll Seafood ASA (Norway), Croda International Plc. (U.K.), Oceana Group Limited (South Africa), and Omega Protein Corporation (U.S.). These companies adopt strategies, such as investments and expansions, to strengthen their positions in this market.

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