Cibi e Bevande
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 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.
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 .
," says a Fact.MR analyst.
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:
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:
Over the last decade, there has been a surge in interest in fish as a natural protein. Fresh water fish's numerous health benefits, such as strengthening heart and bone health, improving brain functioning, controlling weight, and others, are expanding opportunities for tilapia providers around the world. Suppliers have seen significant development in recent years, with increased demand due to its high nutritional value, which includes protein, vitamin B12, potassium, and other nutrients. Tilapia is a farm-raised fish with mild flavor, high nutritional content, flaky and firm meat, and is extensively consumed as dry tilapia fillets, frozen whole tilapia, and other forms.
Fish consumption has risen dramatically in recent decades, owing to changing attitudes in healthy eating and ethical consumerism, which have fueled the fish industry's expansion. Fast-paced consumer lifestyles are creating a demand for more convenience in the kitchen, which is driving up demand for frozen Alaskan salmon around the world. Meanwhile, customers are becoming increasingly concerned about their health and eating habits. Manufacturers are introducing frozen Alaskan salmon to meet consumer demands for healthful and convenient cooking methods.
The global poultry feed industry continues to be influenced by the shift toward a high-protein diet and an increasing preference for poultry meat. The prohibition of antibiotics in poultry feed, which promotes quicker fowl growth, is likely to bring up new opportunities for poultry feed market participants. This is predicted to have an impact on the uptake of various feed additives and enzymes that help improve the quality of poultry feed. As a result, new strategies to stimulate poultry production and give superior results, comparable to antibiotic health promoters, have been discovered.
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