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Fish Meal Manufacturing Business | |
| Fish Meal Manufacturing Business. Production of Powdered Fish Meal. Business Opportunities in Fish Feed, Aquaculture Feed Industry Fish meal, coarsely ground powder made from the cooked flesh of fish. Though formerly important as a fertilizer, fish meal is now primarily used in animal feed—especially for poultry, swine, mink, farm-raised fish, and pets. Certain species of oily fish, such as menhaden, anchovy, herring, and pilchard, are the main source of fish meal and its companion product, fish oil. Fishmeal is a commercial product mainly made from fish that are not used for human consumption. Fish meal is more or less coarse brown flour. It is available in powder or cake obtained by drying the fish or fish trimmings, regularly after cooking, and then grinding it. In addition, it is a valuable animal protein supplement and a supply of vitamins and minerals. Market Outlook The Global Fishmeal Market is accounted for $6.26 billion in 2017 and is expected to reach $11.96 billion by 2026 growing at a CAGR of 7.4% during the forecast period. Growing demand for naturally sourced protein additives in animal feed, rising consumption of fish as a main food in different regions and increasing number of individuals inclined towards non-vegetarian dishes are some of the key driving factors for the market growth. However, high cost fluctuations and rising substitutes of fishmeal products are some of the factors hindering the market growth. Moreover, the market players have enough opportunity to come up with new and improved products which is going to boost the share of fishmeal in the global market. A high nutritional benefit obtained from fishmeal additives is supporting its sale across the globe. Shifting consumer’s preferences towards a healthy diet and increasing consumption of seafood are the key drivers for the market. High use of salmon and trout fish in various feed formulation is experiencing a high demand owing to its nutritive characteristics. Additionally, the presence of high amount of proteins & vitamins in fish has uplifted the fishmeal market. Moreover, increased demand for non-vegan food has uplifted the demand for nutritive feed, which has uplifted the fishmeal market. The global fishmeal market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the fishmeal market followed by North America. In the Asia Pacific region, India and China are the major consumers of fishmeal, which have resulted in the market growth of this region. Furthermore, increasing consumption of seafood and aquatic animals in the developing countries of Asia Pacific region has positively resulted in the growth of the fishmeal market. The major growth factors of the fishmeal market are natural protein additives, the rapid expansion of the feed industry; extensive farming of aquaculture species likes salmon and Crustaceans. Moreover, an increasing number of non-vegetarian in a global perspective is also creating a huge demand for fishmeal for rapid expansion of the aquaculture industry. But, the increasing adoption of fish meal substitute will hinder the growth of the fish meal industry. By end user, the aquaculture section is currently the fastest growing food production systems globally. Fishmeal into diets of aquatic animals assists to decrease pollution from the wastewater effluent by providing better nutrient digestibility. The aquaculture segment is further categorized into salmon & trout, cyprinids, crustaceans, marine fish and Other Aquacultures. By application, the animal feed segment is anticipated to radiate high market attractiveness and is projected to register a high CAGR and is likely to show dominance over the forecast period in the global market. The major growth factors of the fishmeal market are natural protein additives, the rapid expansion of the feed industry; extensive farming of aquaculture species likes salmon and Crustaceans. Moreover, an increasing number of non-vegetarian in a global perspective is also creating a huge demand for fishmeal for rapid expansion of the aquaculture industry. But, increasing adoption of fish meal substitute will hinder the growth of fish meal Industry. Some of the key players profiled in the global fishmeal market: Oceana Group Limited (South Africa)FMC Corporation (U.S.), Empresas Copec S.A. (Chile), Biomega AS (Norway), Croda International Plc. (U.K), Pioneer Fishing (Pty) Ltd. (South Africa), Omega Protein Corporation (U.S.), Calysta, Inc. (U.S.), The Scoular Company (U.S.), and Aker Biomarine Antarctic AS (Norway) India Aquaculture Feed Market The India Aquaculture Feed Market was valued at USD 1.20 billion in 2017 and is expected to register a CAGR of 10.4% during the forecast period (2018-2023). India feed mills have the capacity to produce 2.88 million metric ton. Andhra Pradesh is the largest feed consuming state in India. The coastal line of the country is about 7,517 kilometers with 195.20 kilometers of river and canal systems. The country consists of 14 rivers, 44 medium rivers, and many small rivers. The country also has tanks and ponds. By these sources, it is clear that the aquaculture industry is huge in India which provides huge opportunity and potential for aquaculture feed industry. The market is segmented based on the type of feed like fish feed, mollusks feed, crustaceous feed. The fish feed is further sub segmented into carp feed, salmon feed, tilapia feed, catfish feed and others. Carps account for 89% of the total fresh water aquaculture production in the country. There are four types of carps feed available in the Indian market. They are carp spawn feed, carp fry feed, carp grow-out feed, carp brood feed. The farming of tilapia fish is limited in India but the production of tilapia feed is huge. Due to increase in aquaculture cultivation, the demand for production and consumption of aqua feed is expected to increase. Therefore, the report also covers the aquaculture feed market forecast till 2020, along with the production and consumption of aqua feed by finfish and shrimp fish. Some of the factors favoring the market growth are increasing demand for seafood trading, rising consumer awareness about good quality seafood products, easy availability of fish meal. However, growing raw material prices, stringent environmental regulations about fishing is restricting the market. In addition, increasing government initiatives to support aquaculture, rising disposable incomes in developing countries are some of the major opportunities during the forecast period. 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| Return: 1.00% | Break even: N/A |
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