Increased aquaculture production driving shrimp by-product supply, States Fact. MR
Increased aquaculture production driving shrimp by-product supply, States Fact. MR
According to Fact.MR, a market research and competitive intelligence provider, the global shrimp meal market is estimated to reach a valuation of US$ 5,571.7 million in 2024. It is expected to grow at a CAGR of 7.1% during the forecast period of 2024 to 2034.
The shrimp meal market has been progressing consistently within the past few decades and the ever-growing olive oil and pomace oil production has been the leading cause behind this development. To begin with, tobacco smoking in the world has become rampant causing many countries to adopt the aquaculture industry, especially shrimp farming which has led to an increase in the processing-to-consumption ratio of shrimp processing waste into meals.
Global shrimp meal market scope. Shrimp meal is extremely rich in protein, minerals, and other nutritional sources majorly incorporated in animal feeder’s diets with special emphasis to aquaculture.
The high protein, amino acids, and micronutrient content of shrimp meal supplement its utilization in feeds for aquatic and non-aquatic animals. Therefore, because commercial livestock, poultry, and pet food manufacturers look for cheap yet highly nutritious sources of protein, the market has also seen its share of growth for shrimp meal.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=10474
Key Takeaways from the Market Study
“Expansion of commercial livestock farming, especially in emerging markets, driving feed demand.”says a Fact.MR analyst.
Development by Market Players in the Shrimp Meal Market
Archer Daniels Midland Company (ADM):In Oct 2024, Archer Daniels Midland Company (ADM) announced a strategic partnership with local farmers in Brazil to enhance sustainable agriculture practices. This initiative aims to improve crop yields while minimizing environmental impact, showcasing ADM's commitment to sustainability and innovation in food production.
CP Group:In Oct 2023, CP Group is prioritizing innovation in aquaculture feed production as part of its growth strategy. The company is investing in research and development to enhance the nutritional profile of its products, aiming to meet the growing demand from the aquaculture sector while adhering to sustainable practices
Siam Canadian Foods Co., Ltd.:In Oct 2024, Siam Canadian Foods launched a new line of sustainable seafood products aimed at health-conscious consumers. This initiative reflects the company's commitment to meeting evolving consumer preferences while supporting responsible fishing practices
Rising Aquaculture Demand Fuels Growth of Shrimp Meal as a Key Protein Source
With the rapid expansion of global aquaculture production, shrimp meal has become an essential protein source in aquatic feed formulations. The demand for shrimp meal continues to rise, particularly in regions such as the Asia-Pacific and Latin America, where aquaculture growth is at its peak. This nutrient-rich ingredient is highly valued for its ability to improve feed conversion ratios, enhance growth rates, and support the overall health of farmed aquatic species.
Shrimp meal is favored by aquafeed manufacturers due to its superior composition and high digestibility, making it a critical component in high-performance fish and shrimp diets. As the aquaculture industry scales up to meet increasing seafood demand, the supply of shrimp meal is expanding at an unprecedented rate. Furthermore, its inclusion in commercial feed formulations has grown substantially, driven by the rising need for sustainable and protein-rich ingredients. With a protein content ranging from 60% to 70%, shrimp meal remains one of the most effective and reliable protein sources for aquaculture feed, providing essential nutrients that promote optimal aquatic health and productivity.
Surging Seafood Demand Reinforces Shrimp Meal’s Role in Fish Farming
The global rise in seafood consumption has further solidified shrimp meal’s indispensable role in aquaculture, opening new avenues for industry expansion. As sustainability and environmental concerns shape consumer preferences, there is a greater emphasis on seafood-rich diets, leading to increased investments in aquaculture. This shift has driven the need for high-quality feed ingredients, with shrimp meal emerging as a preferred choice for ensuring efficient and sustainable fish farming practices.
Produced through a process of cooking, drying, and grinding whole shrimp, shrimp meal offers a cost-effective and protein-dense feed solution for aquaculture. Rich in essential amino acids and omega-3 fatty acids, it enhances feed conversion efficiency and maximizes nutrient absorption, contributing to faster growth and healthier fish stocks. Given the growing competition in the aquaculture sector, which prioritizes sustainability and resource management, shrimp meal continues to play a crucial role in optimizing feed efficiency and improving overall production outcomes.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=10474
Key Market Players:
·Archer Daniels Midland Company (ADM)
·Austevoll Seafood ASA
·Copeinca ASA
·Corpesca SA
·CP Group (Charoen Pokphand Foods)
·Dalian Longyuan Marine Protein Manufacturing
·FF Skagen A/S
·Grand Ocean Biotechnology Co., Ltd
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global bio-active peptide market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on Product Type (Crude Shrimp Meal, Refined Shrimp Meal), Application (Aquaculture Feed[Fish farming, Shrimp farming, Other aquatic species], Poultry Feed[Broiler feed, Layer feed, Other poultry applications], Livestock Feed[Pig feed, Cattle feed, Other livestock], Pet Food[Dog food, Cat food, Other pet nutrition]), End-User Industry (Commercial Feed Manufacturers[Large-scale feed production, Industrial applications], Small-Scale Farmers, Pet Food Companies[Premium pet food brands, Specialty nutrition]) Ingredient Source (Organic Shrimp meal, Conventional Shrimp meal) & Packaging Type (Bulk Packaging, Retail Packaging, Eco-Friendly Packaging)across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, Middle East & Africa).
Check out More Related Studies Published by Fact.MR Research:
Tortilla Mix Market is estimated to be valued at US$ 12.3 billion in 2023. The global tortilla mix market is anticipated to expand at a CAGR of 6.7% to reach a valuation of US$ 23.5 billion by the end of 2033.
Food Preservatives Market is forecasted to increase at a CAGR of 4.6% from 2023 to 2033. In 2023, the global food preservatives market stands at US$ 3.2 billion and is estimated to reach a market size of US$ 5 billion by 2033.
Edible Food Paints Market is estimated at US$ 815.5 million in 2022 and is slated to reach US$ 1.26 billion by 2032, expanding at a CAGR of 4.4% between 2022 and 2032.
Pickled Herring Market has reached US$ 3.5 billion in 2022, registering Y-o-Y growth of 3.5%. Worldwide sales of pickled herrings are projected to increase at a steady CAGR of 3.6% to reach a market valuation of US$ 5 billion by 2032, with Europe accounting for more than three-fourths of the global market share.
Eggshell Membrane Derivatives Market is predicted to evolve at a CAGR of 8.2% from 2023 to 2033. The market stands at US$ 1 billion in 2023 and is expected to reach US$ 2.2 billion by 2033-end.
Smoothies Market is estimated at US$ 27.2 billion in 2023 and is projected to reach a valuation of US$ 52.5 billion by the end of 2033. This is because global demand for smoothies is forecasted to increase at a CAGR of 6.8% from 2023 to 2033.
Zein Protein Market is predicted to increase at a CAGR of 5.3% over the next ten years. At present, the global market is valued at US$ 2.17 billion and is expected to reach US$ 3.76 billion by the end of 2032.
Refined Cane Sugar Market is forecasted to increase at 5.8% CAGR from 2023 to 2033. As such, the global refined cane sugar market is expected to increase from a valuation of US$ 61.9 billion in 2023 to US$ 109.3 billion by the end of 2033.
Aquaculture is the farming of aquatic organisms, including fish, crustaceans, and plants, in controlled environments. It plays a significant role in food production and is a major driver of shrimp meal demand.
Shrimp meal is a high-protein feed ingredient made from processed shrimp. It is rich in essential nutrients and is primarily used in aquaculture and animal feed.
CAGR stands for Compound Annual Growth Rate. It represents the mean annual growth rate of an investment over a specified time period, assuming the investment grows at a steady rate.
Micronutrients are essential dietary elements required by the body in small amounts. They include vitamins and minerals that are crucial for various bodily functions.
Explore more articles in the Research Reports category
