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