Fishmeal Market Analysis

In-depth Analysis of Fishmeal Market Industry Landscape

Fishmeal Market Size is influenced by a wide range of factors that together dictate its dynamics and development. Aquaculture is one of the leading drivers for this. To meet the increasing demand for seafood on a global scale, aquaculture is vital in filling this gap. As such, fish meal is an important component of aqua-feed that contains essential proteins and nutrients necessary for the healthy growth of farm-bred fish and shrimps (Moore). On top of this, market forces in relation to global fisheries affect it, too. The presence of raw materials like small pelagic species directly affects the production volumes of fish meal. Variations in fish stocks coupled with environmental changes influencing the population can influence the availability of input supplies for producing fish meals. Thus, the overall Fishmeal Market Size depends upon the sustainability and management of global fisheries.
The Fishmeal Market Size stood at USD 8459.5 million in 2021. A forecast suggests an industry growth rate from USD 9093.96 million in 2022 to USD 15087.33 million by 2030. The expected upsurge will register a Compound Annual Growth Rate (CAGR) of approximately 7.5% between the years 2022-2030. Also, the Fishmeal Market Size is significantly affected by the regulatory landscape that has been set up for the same purpose. Such market dynamics as regiments governing source, production, and quality of fishmeal influence it similarly to economic factors, including cost of production, global trade patterns, and market competition. The cost of raw materials, transportation costs, and demand elasticity for fish meal affect both its affordability and accessibility.
Technological advancements have also made it possible to ensure the success of fish meal supply chain systems used in market dynamics for this product range. Innovations in processing technologies like improved drying methods and extraction techniques help improve the efficiency with which fishmeal is produced and influence final product quality. Furthermore, sustainable policy practices are increasingly becoming important factors influencing the size of the fishmeal market. There are growing concerns about over-fishing, which is why most industries have changed their sourcing and production methods to those that can be termed sustainable. These consumer habits were confirmed through certification programs such as eco-labeling schemes that encourage responsible sourcing of fish meals.