Report: Fishmeal and fish oil market projected to reach $14 billion in five years

Increased use in swine, poultry diets expected to drive growth

The global fishmeal and fish oil market, currently estimated at $9.5 billion, is projected to reach more than $14 billion by 2022, a new report says.

The report, by MarketsandMarkets, projects an annual growth rate of 8.5 percent. The growth is mostly attributed to increased use of fishmeal and fish oil in swine and poultry diets, as well as the growing aquaculture industry. Aquatic animals currently account for the largest share in the market. Pharmaceutical applications are also projected to drive growth in the market.

The European region is expected to be the fastest-growing market for fishmeal and fish oil over the next five years due to increased consumption of seafood and the use of secondary raw materials in additives and other nutritional items.

Salmon and trout are the largest sources of fishmeal and fish oil in the current market.

To learn more about the report, visit http://www.marketsandmarkets.com/Market-Reports/fishmeal-and-fish-oil-market-52416251.html.

KEYWORDS: food and beverage industry trends

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Casey Laughman is the former Editor in Chief of Food Engineering magazine. He has almost two decades’ experience as a writer and editor for mainstream and trade publications. He spent several years as a writer and editor for two news services before becoming the editor of a legal publication and managing editor of a trade magazine that covered the commercial facilities market.