DUBLIN, February 18, 2022 /PRNewswire/ — The report “Global Fishmeal Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Business Opportunity Analysis” has been added to from ResearchAndMarkets.com offer.
This latest research report provides a detailed analysis of the global Fishmeal industry. According to this report, the market size was $8.10 billion in 2021. The global fishmeal market is expected to reach US$10.31 billion by 2027.
Globally, fishmeal is a generic word for a nutrient-dense meal ingredient used primarily in pet food, sometimes used as a high-quality organic fertilizer. Fishmeal can be produced from virtually any type of seafood, but is usually made from small, wild-caught marine fish that have a high percentage of bones and oil and are generally considered unfit for direct human consumption. In addition, nutritionists recognize fishmeal as a high quality and easily digestible food component which is preferred for feeding most farm animals, mainly fish and shrimp.
The consequence of the COVID-19 pandemic on the fishmeal industry
The lingering COVID-19 pandemic has affected the economies and industries of various countries due to lockdowns, travel bans and closure of production facilities. Globally, the animal feed and aquaculture industries are among the sectors hardest hit by the pandemic, going through severe disruptions, such as supply chain disruptions and the shutdown of food manufacturers. products. The closure of various plants and factories in several regions has impacted the global supply chain and negatively impacted the manufacturing, delivery schedules and sales of different animal feed ingredients and raw materials for agrochemicals.
Additionally, global travel bans imposed by countries influence business collaborations and partnership prospects. All these are having a negative impact on the fishmeal market and thus restraining its growth in 2020. Moreover, the declining demand for seafood products has led to a decrease in the production of fishmeal. The low demand for fish has reduced the activities of the fishing fleet, which has negatively affected the production of fish by-products, especially fishmeal. Nevertheless, with the launch of vaccination campaigns on a global scale, economies are recovering and industries are seeing a demand for their products.
China Dominates Fishmeal Landscape Among Importing Countries
In China, farmers are securing protein-rich fishmeal in their aquatic systems; therefore, global developments in the shrimp farming industry are driving imports of high quality fishmeal. In addition, the limited supply and strict fishing restrictions allow regional companies to develop safer and more productive methods of collecting and selling fishmeal, supporting the overall growth of imports in the provinces of China. Additionally, with the growing demand for marine and seafood by-products in the country, fishmeal suppliers China focus on improving quality, productivity and sustainability.
Peru targets top fishmeal exports in global fishmeal market
According to our analysis, Peru holds the world’s most dominant market share in the fishmeal industry. Furthermore, the demand for fishmeal is further expected to witness a decent growth throughout the forecast period. In addition, the widespread presence of a large food sector and authentic restaurant chains will continue to increase fishmeal exports from the Peruvian market. In addition, rising seafood expenditure per capita and growing awareness of the health benefits of seafood will continue to drive fishmeal exports from the Peruvian market.
from vietnam The fishing industry is growing to become one of the major fishmeal producers in Asia
According to the publisher, India, Japan, Vietnam, China, Thailandand Malaysia are from Asia major fishmeal producers, most of whose production is consumed in Asian markets. from vietnam the fishing industry has evolved into one of the from Asia major fish producers. In addition, the production of fishmeal in Vietnam is further expected to grow at a high expansion rate due to growing demand from various end-use industries such as poultry, aquaculture feed and others.
Global fishmeal industry is expected to grow at a CAGR of 4.1% during the period 2021-2027
Increased awareness of fishmeal diet such as blood, meat and bone meals in animal feed is expected to increase the demand for fishmeal. Additionally, people residing in developed countries are switching from red meat to alternative sources of protein for animal feed, which is expected to increase the global demand for fishmeal. In addition, aquaculture will continue to fill the growing gap between supply and demand in the face of rapidly increasing global demand for fishmeal. Additionally, growing competition and reliance on pressure crops to meet the global demand for feed, food, biofuels and bio-based materials is expected to drive the global fishmeal market.
Main topics covered:
2. Research and methodology
3. Executive Summary
4. Market dynamics
4.1 Drivers of growth
5. Market and Volume Analysis – Global Fishmeal
6. Market Share Analysis – Global Fishmeal
6.1 Export by country
6.2 Import by country
6.3 Production by Countries
7. Volume Share Analysis – Global Fishmeal
7.2 End user
7.3 Export by country
7.4 Import by country
8. Cash Market and Volume Analysis
8.2 Blue whiting
8.6 Norway pout
9. End-User Market and Volume Analysis
10. Aquaculture Market and Volume Analysis
10.4 Marine fish
11. Producing Country Market and Volume Analysis
12. Major Importing Countries Market and Volume Analysis
13. Carriers five forces
14. Major Exporting Countries Market and Volume Analysis
For more information about this report, visit https://www.researchandmarkets.com/r/96rrr2
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