Market Research Future Insights
According to MRFR analysis, the global fishmeal market is expected to register a CAGR of 7.5% from 2022 to 2030 and hold a value of over USD 15087.33 million by 2030.
The Global Fishmeal Market refers to the worldwide market for the production, sale, and consumption of fishmeal, a nutrient-rich powder made from ground-up fish and used as a feed ingredient for animals, particularly aquaculture and livestock. The market includes all types of fishmeal products, including standard, super, and prime fishmeal, as well as different grades and qualities of fishmeal. The global fishmeal market is driven by factors such as increasing demand for high-protein animal feed, growth in the aquaculture industry, and rising awareness about the nutritional benefits of fishmeal in animal diets.
The COVID-19 pandemic had a significant impact on the global fishmeal market, the pandemic has led to increased demand for fishmeal in the animal feed industry, as more people consume animal protein and there is growing demand for high-quality feed ingredients for aquaculture and livestock. This has resulted in an uptick in fishmeal production and sales, especially in markets such as China, where the pandemic has stimulated greater domestic demand for fishmeal and reduced the supply of alternative protein sources.
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Regional Analysis
The largest region of the global fishmeal market is the Asia-Pacific region. This region includes major fishmeal-producing countries such as China, Peru, Chile, and Vietnam, which account for a significant share of the global fishmeal production.
In particular, China is the largest consumer and importer of fishmeal in the world, due to its large aquaculture industry and growing demand for high-quality animal feed. Overall, the Asia-Pacific region dominates the global fishmeal market in terms of production, consumption, and trade, driven by factors such as growing demand for high-quality protein, increasing aquaculture production, and rising awareness about the nutritional benefits of fishmeal in animal diets.
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Market Segmentation
The global fishmeal market has been segmented into type and application.
Based on the type, the market has been segmented into ruminants, poultry, swine and aquatic animals.
Based on the application, the market has been segmented into fertilizers and animal feed.
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Key Players
Some of the key market players are:
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