Fishmeal & Fish Oil Market: Growing awareness about livestock and pet health and nutrition driving the market growth

The Fishmeal & Fish Oil Market is estimated to be valued at USD 12.1 billion in 2022. It is projected to reach USD 15.4 billion by 2027, with a CAGR of 4.9%, in terms of value between 2022 and 2027. 

The reasons that are driving the growth of the fishmeal & fish oil market are rising focus on the health and nutrition of livestock animals, especially in Asia Pacific region and improved productivity and environmental performance of aquaculture, coupled with rising ageing population which poses an attractive market for fishmeal & fish oil owing to their health benefits. Fishmeal & fish oil enhance the nutritional profile and offers a range of health benefits in terms of supporting the immunity and gut health of livestock animals, along with enhancing the feed efficiency, due to which they are in significant demand across the livestock and pharma industries.

Download PDF Brochure

​Drivers:  Increasing awareness about livestock and pet health and nutrition

In Indonesia, Australia, Vietnam, Taiwan, and Korea, awareness regarding the health and nutrition of pets and livestock have increased significantly in recent years. In July 2019, scientists from Australia and Vietnam discovered that supplementing animal feed with fish oil enhances milk yield and is also an effective way to enhance long-chain fatty acids (n-3 LC-PUFA) in dairy products. Increasing consumer awareness regarding potential health benefits offered by fish oil and fishmeal products in animal feed is driving demand in Asia Pacific region. The poultry and cattle population is increasing significantly in Asia Pacific, which presents significant business opportunities for fishmeal and fish oil manufacturers.

The rise in pet humanization trends in Asia Pacific has increased the demand for premium pet food ingredients and products, which deliver multifunctional health benefits. The spending on health-focused pet food ingredients is rising, with the increasing awareness and disposable income among pet owners. Fish oil products are increasingly being used in pet food products to supplement the health, growth, development, and nutrition of pets. An official representative of Fable (US), a premium pet brand, stated in December 2020 that the company witnessed unprecedented growth owing to increased pet adoption and spending on pet nutrition and welfare. As pet ownership increases in the region and the focus on pet health and nutrition continues to gain traction, the Asia Pacific pet food industry will continue to present significant business opportunities for fishmeal and fish oil manufacturers.

Make an Inquiry

Key players in this market include FKS Multi Agro (Indonesia), Mukka Proteins Limited (India), Arbee (India), Sandakan Fishmeal Sdn Bhd (Malaysia), Wudi Deda Agriculture Co., Ltd. (China), Raj Fishmeal and Oil Company (India), Asia Fish Oil Corporation (Vietnam), Dai Dai Thanh Seafoods (Vietnam), Pattani Fish Meal (1988) Co., Ltd. (Thailand) and Austevoll Seafood ASA (Norway).

Comments

Post a Comment

Popular posts from this blog

Global Bottled Water Processing Market: Key Trends and Insights by 2028

A recent research report by MarketsandMarkets titled " Bottled Water Processing Market " provides valuable insights into the dynamics of the bottled water industry. The study covers both the bottled water market and the bottled water equipment market, forecasting significant growth in both segments. Here are key highlights from the report: Download PDF Brochure Bottled Water Market Overview: The bottled water market is projected to reach USD 457.1 billion by 2028, exhibiting a CAGR of 8.0% from 2023. This growth is attributed to the rising demand in emerging markets where limited access to safe drinking water is a challenge. The global population increase also contributes to the surge in demand for clean and safe drinking water, emphasizing the pivotal role of bottled water processing in providing accessible hydration solutions. Product Type Insights: The report highlights that still water dominates the market, accounting for the largest share in 2022 in terms of value. This ...
Read more

Growth Trends and Opportunities in the Global Edible Oils Market

The global edible oils industry is on track to reach USD 268.9 billion by 2027, marking a significant increase from USD 212.6 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.8% between 2022 and 2027. This growth is primarily fueled by the rising global population, coupled with shifts in lifestyle preferences towards processed foods, where edible oils play a crucial role as primary ingredients. Furthermore, ongoing advancements in food processing, including the development of novel products such as confectionery, bakery items, ready-to-eat foods, and fast foods, are driving substantial demand for edible oils. Download PDF Brochure      Soybean oils emerge as the fastest-growing segment in the global edible oils market , anticipated to experience a robust CAGR of 5.4% during the forecast period. With concerns regarding food costs and climate change's impact on food supplies, soy products, particularly soybean oil, are gaining traction. Soybean oil...
Read more

Beer Processing Market Analysis and Global Forecast to 2025

Image
The global beer processing market studied in this report involves the market coverage of brewery equipment and beer. The global beer processing market is estimated to account for about USD 677.5 billion in 2019 and is projected to reach a value of USD 815.4 billion by 2025, growing at a CAGR of 3.1%. The changing consumer preferences for artisanal and craft beer, instead of traditional beer or other alcoholic beverages, drive the market for beer, globally. Download PDF Brochure The brewery equipment market has been growing in tandem      with the rising demand and consumption of beer. The other factor responsible for driving the global brewery equipment market is the growing number of microbreweries as well as brewpubs.  The European region is projected to account for the largest market share in the brewery equipment market due to the ever increasing beer industry and the presence of leading beer manufacturers. In the beer market, Asia Pacific dominated the global ...
Read more