Market Introduction
SAM comprises Brazil, Argentina, and the Rest of SAM. The food processing and agriculture industries are the major contributors to economic development in this region. South America offers lucrative opportunities for the manufacturers of fishmeal, owing to the rapid development of the food & beverages sector in the region. Many leading food & beverage manufacturers operate in this region. Moreover, the aquaculture industry manufacturers in SAM are expected to create lucrative growth opportunities for fishmeal providers. Furthermore, in urban areas where many working people don't have the time to prepare appropriate meals, demand for ready-to-eat food products, such as canned fish, is increasing rapidly. The other factors driving the market for ready-to-eat food include changing taste preferences among consumers, changes in people’s lifestyles, and the expansion of e-commerce channels. With the consequent increase in the incidence of lifestyle diseases such as obesity and other related health issues, a high protein diet is taking prominence, which is likely to benefit the fishmeal market in SAM in the coming years.
SAM's government adopted various actions to protect its citizens and contain the spread of COVID-19. It is anticipated that SAM will gain lower export revenues due to dropping commodity prices and reduced export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several SAM countries are likely to reduce economic activities in the animal feed industry for at least the next quarter; however, it will rebound once the pandemic is contained.
Market Overview and Dynamics
The fishmeal market in SAM is expected to grow from US$ 1,465.98 million in 2021 to US$ 2,364.67 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The anchovies are majorly found in SAM, especially Peru. The volume of fishmeal production manufactured from Peruvian anchovies is equivalent to the requirement of half of the SAM fed farmed fish production. The anchovy segment has a promising growth over the forecast period as anchovies are available in ample quantity. The high availability of anchovies also has a positive impact on SAM food security.
Key Market Segments
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 SAM fishmeal market is segmented into Brazil, Argentina, and rest of SAM. Rest of SAM 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 SAM 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; Pesquera Diamante S.A.; Soytex LTD; TASA; and The Scoular Company; and TripleNine.
Reasons to buy report
SAM Fishmeal Market Segmentation
SAM Fishmeal Market - By Source
SAM Fishmeal Market - By Application
SAM Fishmeal Market - By Country
SAM Fishmeal Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,465.98 Million |
| Market Size by 2028 | US$ 2,364.67 Million |
| CAGR (2021 - 2028) | 7.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Fishmeal Market is valued at US$ 1,465.98 Million in 2021, it is projected to reach US$ 2,364.67 Million by 2028.
As per our report South America Fishmeal Market, the market size is valued at US$ 1,465.98 Million in 2021, projecting it to reach US$ 2,364.67 Million by 2028. This translates to a CAGR of approximately 7.2% during the forecast period.
The South America Fishmeal Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Fishmeal Market report:
The South America Fishmeal Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Fishmeal Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Fishmeal Market value chain can benefit from the information contained in a comprehensive market report.
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