AI Analysis: Key Insights from the Press Release
Show Key InsightsMarket Size (2021): US$ 489.32 Mn
Forecast Market Size (2028): US$ 744.65 Mn
CAGR (2022–2028): 6.2%
Primary Growth Drivers: Increasing demand for protein-rich food, Rising health consciousness, Growing applications in sports nutrition
Key Trends: Increased focus on traceability and sustainability, Advancements in biotechnological processes
Growth Opportunities: Emerging markets in Asia-Pacific, Product innovation and diversification, Growing demand for natural and organic products
Base Value (2021)
US$ 489.32 Mn
Projected (2028)
US$ 744.65 Mn
CAGR (2022-2028)
6.2%
Animal Feed Segment to Dominate MEA Fishmeal Market during 2020–2028
According to a new market research study on “MEA Fishmeal Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Source and Application” is expected to reach US$ 744.65 million by 2028 from 489.32 US$ million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the MEA fishmeal market along with the drivers and restraints pertaining to the market growth. Boost in agricultural productivity is the major factor driving the growth of the MEA fishmeal market. However, issues associated with availability of various other options hinders the growth of MEA fishmeal market.
The MEA fishmeal market is segmented into source, application, and country. Based on source, the MEA fishmeal market is segmented into salmon, mackerel, anchovy, capelin, and others. In 2020, the anchovy segment accounted for the largest revenue share. Based on application, the MEA fishmeal market is segmented into animal feed, agriculture, and others. In 2020, the animal feed segment accounted for the largest revenue share. Based on country, the MEA fishmeal market is segmented into Saudi Arabia, South Africa, UAE, and rest of the MEA. Rest of the MEA held the largest market share in 2020.
Due to the lockdowns in the MEA countries, numerous fishmeal food companies remain closed, and production activities have discontinued; thus, these factors can negatively impact the region's fishmeal and the fishmeal industry.
COPEINCA; Oceana Group Limited; Pelagia AS; Soytex LTD; TASA; and The Scoular Company are among the leading companies in the MEA fishmeal market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com
Related Press Releases
Available Data Deliverables:
PDF
Excel
PPT
