Fish Meal Alternative Market Analysis

On the basis of source, the fish meal alternative market is segmented into plant, animal, and micro-organism. The plant segment is further sub-segmented into peas, lupins, corn, rice, canola, rapeseed, barley, and wheat. The plant segment is anticipated to dominate the global fish meal alternative market owing to its ease of production and cheaper price point against traditional fish meal. Also, the plant-based fish meal alternatives have been scientifically proven to have yielded more than the traditional one which is expected to drive producer to shift towards it over the forecast period.

On the basis of application, the global fish meal alternative market is segmented into feed, fertilizers, pharmaceuticals and dietary supplements. The feed segment is further sub-segmented into aquaculture, poultry, livestock, and pet food and treats. The feed segment is expected to dominate the global fish alternative market over the forecast period due to the high volume of demand from the aquaculture and poultry industry. 

Fish Meal Alternative Market: Region-wise Outlook: Fish meal is largely consumed in aquaculture production which is dominated by the Asia Pacific region which is anticipated to dominate the global fish meal alternative market. The Europe region is expected to capture the successive position in terms of demand share owing to its large meat and dairy industry and also the rapid increase in sustainable farming over the region to meet the strict EU guidance. North America to capture a substantial value share with Latin America following the place over the forecast period owing to its large agricultural industry and aquaculture industry respectively. The Middle East and Africa are expected to capture a low volume share owing to import dependency and relatively small agricultural industry.

Fish Meal Alternative Market: Drivers and Restraints: The fish meal alternative market is expected to be driven by the consumer demand for ethical and substantial food. With increasing price of raw material required for fish meal production and limiting production ability, manufacturers are also shifting towards the alternative option to feed the rising demand for fish meal. The global protein demand is rising with the rising population which is required to address with alternative sources and hence, fish meal alternative products fits perfect to address the rising concern of food shortage and lower carbon footprint.

Competitive pricing and lack of awareness are expected to restrain the global fish meal market over the forecast period.

Fish Meal Alternative Market: Key Players: The global player for the Fish Meal Alternative market are Al Dahra ACX, Archer Daniels Midland, Angel Yeast Co. Ltd, Cargill Inc., Calysta, Inc., Lallemand Inc., Nutreco N.V and Alltech.

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