Dive into Prosperity: Fishmeal & Fish Oil Market Poised to Reach US$ 13.0 Billion by 2033, Unleashing Lucrative Opportunities

The fishmeal and fish oil market is anticipated to reach a value of US$ 7.4 billion in 2023 and US$ 13.0 billion in 2033. During the projection period, fishmeal and fish oil sales are anticipated to expand at a substantial CAGR of 5.8%.

The production of fishmeal and fish oil is expected to increase moderately in the coming years as a result of improved by-product utilization and a growing aquaculture industry.

Aquaculture's contribution to global fish culture, according to the OECD, will continue to expand and will surpass that of fisheries by 2024. By 2029, aquaculture production is predicted to exceed catch by ten million tonnes.

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As feed demand has increased in tandem with increased aquaculture production, the inclusion of fish meal and fish oil in feed recipes has clearly declined, and has been partially replaced by vegetable substitutes such as soymeal and rapeseed oil.

Due to their scarcity, fishmeal and fish oil will be employed more frequently as strategic ingredients at lower percentages and for particular production stages.

The development and dynamics of the markets for fish oil and fishmeal on a worldwide scale can be influenced by a variety of variables. Included in them are extrinsic variables like the weather and environment, fishery management, trade policies, etc.

Key Takeaways from the Fishmeal & Fish Oil Market

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Latest Developments

In April 2022, Evolve Supplements initiated its online store for aiding in the buying process for consumers.

In April 2022, Trident Seafoods came out with its Omega 3 food for dogs. They forayed into the pet food market with this initiative.

Key Segments Fish meal & Fish Oil Market

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