Asia Pacific Fishmeal Market

Market Introduction

As per FAO data, APAC accounts for the highest production volume of aquaculture. The aquaculture industry in the region is focused on minimizing ecological impacts while maximizing investments. The growing middle class in the region is boosting demand for seafood, most of which is met by domestic production. India and China are among the highest-volume aquaculture producers in the region, and hence, they account for major shares in the fishmeal market in APAC. The governments of APAC countries are also supporting ambitious projects such as Yellow Sea salmonid farming project, worth US$ 143.9 million. Operator Wanzefeng Fishery aims to produce 20,000 tonnes of salmon yearly under the Yellow Sea project. Aquaculture highly relies on pursuing economic and nutritional objectives due to the vast coastal regions. Moreover, the growth of the food processing industry has led to an increased demand for fish products. The increasing aquaculture activities are expected to fuel the demand for fishmeal in the region.

Governments of various APAC countries are adopting possible steps to restrict the spread of the COVID-19 by announcing lockdown, which, in turn, has negatively impacted the revenue generated by the fishmeal market in this region.                      

Market Overview and Dynamics

The fishmeal market in APAC is expected to grow from US$ 3,512.87 million in 2021 to US$ 6,441.85 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028. As per a leading international animal feed manufacturer, the animal feed market in APAC is expected to grow at the highest pace during the forecast period. Moreover, the pet market is also soaring in the region due to high demand for cat food and dog food available in fish flavors. Animal feed and pet food contain fishmeal as a major ingredient to deliver required amino acids and omega fatty acids in the diet of animals. Therefore, the growth in animal feed market in the region is expected to propel the demand for fishmeal in the coming years.     

Key Market Segments

APAC fishmeal market is segmented into source, application, and country. Based on source, the APAC 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 APAC 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 APAC fishmeal market is segmented into France, Germany, Italy, the UK, Russia, and rest of APAC. Rest of APAC held the largest market share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the fishmeal market in APAC are company websites, annual reports, financial reports, national government documents, and statistical databases, among others. Major companies listed in the report are COPEINCA; Oceana Group Limited; Pelagia AS; Soytex LTD; TASA; and The Scoular Company.

Reasons to buy report

• To understand the APAC fishmeal market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC fishmeal market.
• Efficiently plan M&A and partnership deals in APAC fishmeal market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC fishmeal market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Fishmeal Market Segmentation

APAC Fishmeal Market - By Source

• Salmon
• Mackerel
• Anchovy
• Capelin
• Others

APAC Fishmeal Market - By Application

• Animal Feed
• Agriculture
• Others

APAC Fishmeal Market - By Country

• Australia,
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Fishmeal Market - Company Profiles

• COPEINCA
• Oceana Group Limited
• Pelagia AS
• Soytex LTD
• TASA
• The Scoular Company

Asia Pacific Fishmeal Market Strategic Insights

Asia Pacific Fishmeal Market Segmentation Analysis

Asia Pacific Fishmeal Market Report Highlights

Asia Pacific Fishmeal Report Scope

Asia Pacific Fishmeal Market Country and Regional Insights