Fish Meal Sales in North America to Total US$ 1.48 Bn in 2021, Creating More than US$ 100 Million of New Opportunity

As per a report by Fact.MR, the global fish meal market is poised to total US$ 4.73 billion by the end of 2021. On account of the increasing application of fish meal across aquaculture, the market is estimated to reach a valuation of US$ 8.7 billion by 2031. As per a report by Fact.MR, the global fish meal market is poised to totalUS$ 4.73 billionby the end of 2021. On account of the increasing application of fish meal across aquaculture, the market is estimated to reach a valuation of...

As per a report by Fact.MR, the global fish meal market is poised to total US$ 4.73 billion by the end of 2021. On account of the increasing application of fish meal across aquaculture, the market is estimated to reach a valuation of US$ 8.7 billion by 2031.

As per the report, the market registered growth at a CAGR of 4.7% over the past half-decade. With rapid expansion of the agriculture and livestock industries, coupled with increasing usage of fish products for the production of fertilizers and animal feeds, the fish meal market is anticipated to grow at a CAGR of 6.3% during the forecast period from 2021 to 2031.

A swift transition towards the use of natural fertilizer from synthetic fertilizers has been witnessed in the last few years. Rising environmental concerns and awareness regarding the adverse impacts of chemical-based fertilizers on soil and crops have been at the core of this paradigm shift.

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As natural fish meal-based fertilizers boost fertility and improve the health of soil by providing burn-free nitrogen and other nutrients such as phosphorous and potassium to crops, it is gaining immense traction amongst farmers.

Based on region, North America is anticipated to emerge as the most lucrative market, accounting for around 31.3% of the global sales in 2021. Owing to high protein contents in fish meals, it is increasingly being used in the production of animal feed and pet food, particularly feline foods. Driven by this, the regional market is projected to reach a valuation of US$ 1.48 billion.

"Intensive research and development (R&D) activities undertaken in the market, investment towards the commercialization of fish meal made using several seafood trimmings, and increasing adoption of sea-based products across various industries are expected to augment the market growth in the next ten years," says a Fact.MR analyst.

Key Takeaways from Fish Meal Market Survey

Key Drivers

Key Restraints

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Competitive Landscape

Leading manufacturers in the fish meal market are focusing on R&D to improve the overall product quality. Besides this, some of the key players are adopting strategies such as production facility expansions, acquisitions, mergers, and collaborations to improve sales during the assessment period. For instance,

Some of the key players in the fish meal market profiled by Fact.MR are:

More Valuable Insights on Fish Meal Market

Fact.MR, in its new report, offers an unbiased analysis of the global fish meal market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in fish meal market with detailed segmentation:

Key Questions Covered in the Fish Meal Market Report 

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