A new report estimates that the global fishmeal market will experience steady growth during the 2017-2027 forecast period.
The market experienced consistent growth from 2012 till 2016. In 2017, the global fishmeal market is valued a bit under US$6 Bn and is estimated to reach a valuation of approximately US$10 Bn by the end of the period of assessment. The global fishmeal market is projected to grow at a high value CAGR of 5.2% throughout the period of assessment, 2017-2027.
The main factors contributing to the growth of the global fishmeal market are rising demand for naturally sourced protein additives in animal feed, expansion of feed industry, extensive salmon aquaculture farming, rising number of individuals inclined towards non-vegetarian dishes and increased consumption of fish as a major food in various regions in the globe. With respect to volume, the global fishmeal market is poised to grow at a 4.5% CAGR during the period of forecast.