Global Fish Meal Market will be US$ 10.65 Billion by 2026 | Renub Research

ROSWELL, Ga. - Aug. 22, 2020 - PRLog -- According to the latest report by Renub Research, titled "Fish Meal Market and Volume, Global Forecast by species, End-User: Chicken, Pig, Aquaculture, Production, Export, Import, Value Chain Analysis" Fish meal market is growing year on year, due to higher demand in aquaculture. It is one of the fast-moving segments in the seafood industry; Fish Meal Market is forecasted to be US$ 10.65 Billion by 2026.

Fishmeal is processed in multiple steps, it contains cooking of fish, pressing, drying of fish and finally grinding fish in solid waste in the form of power or cake. Oil is also extracted from fat fishes, and water is removed in this process. The fishmeal manufacturing process is multiphase, and to manufacture 1 Tonne of dry Fishmeal, 5 Tonnes of raw fish is required. Fishes are dried in sunlight before grinding in pressing in some regions where processing plants are not available, and it results in poor quality due to lack of standard procedures, which are followed in modern plants.

COVID-19 Impact on Fishmeal Market

COVID-19 has stopped economic activities around the world, and most of the countries have faced lockdown during the pandemic and industries are unable to find customers during this period moreover the shortage of workforce to work in fishmeal plants has also affected market significantly.

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