Fish Meal Manufacturing Business. Production of Powdered Fish Meal. Business Opportunities in Fish Feed, Aquaculture Feed Industry
Fish meal, coarsely ground powder made from the cooked flesh of fish. Though formerly important as a fertilizer, fish meal is now primarily used in animal feed—especially for poultry, swine, mink, farm-raised fish, and pets. Certain species of oily fish, such as menhaden, anchovy, herring, and pilchard, are the main source of fish meal and its companion product, fish oil.
Fishmeal is a commercial product mainly made from fish that are not used for human consumption. Fish meal is more or less coarse brown flour. It is available in powder or cake obtained by drying the fish or fish trimmings, regularly after cooking, and then grinding it. In addition, it is a valuable animal protein supplement and a supply of vitamins and minerals.
Market Outlook
The Global Fishmeal Market is accounted for $6.26 billion in 2017 and is expected to reach $11.96 billion by 2026 growing at a CAGR of 7.4% during the forecast period. Growing demand for naturally sourced protein additives in animal feed, rising consumption of fish as a main food in different regions and increasing number of individuals inclined towards non-vegetarian dishes are some of the key driving factors for the market growth. However, high cost fluctuations and rising substitutes of fishmeal products are some of the factors hindering the market growth. Moreover, the market players have enough opportunity to come up with new and improved products which is going to boost the share of fishmeal in the global market.