The North America Fishmeal and Fish Oil market is expected to increase with a considerable share compared to the other regions during the forecast period of 2022 - 2027. The market value is expected to increase more in this period due to the rising consumption of fish meat across the region, especially in the countries such as United States and Mexico, which are major contributors in the North American region.
Due to the coronavirus pandemic, all the companies are suffering with the production and demand, supply chain and market disruption and financial losses. Several companies around the world have halted their production units due to the strict lockdown regulations imposed by the government authorities.
Recently, the government authorities gave permissions to the companies to restart their operations with strict rules and regulations. Most of the companies have resumed their manufacturing activities that started the supply chain of the products, which is supposed to help them to recover from financial losses.
In the North America Fishmeal and Fish Oil market, the companies related to the business are expecting to gain some profits in the upcoming two to three years with an increasing consumption of fish meat and fish oil in countries such as the USA and Mexico, as well as increasing investments by the major players in the region. The rising awareness of the benefits of the intake of fishmeal and fish oil due to the large amounts of omega-3 acids is likely to promote the call in the regional market amid COVID-19 transmission.
Recent Market Developments:
In May 2015, OCEANA group acquired Louisiana that will help the company to expand their business worldwide and also to strengthen their position in American fishing industry.
In April 2015, Tasa Company announced the launch of its full scale human consumption fish oil production at their new subsidiary Tasa Omega to provide good protein and natural protein that can be absorbed by the human.
North America Fishmeal and Fish Oil Market Drivers:
Increasing consumption of fish meat and fish oil across the region, especially in the nations of United States and Mexico is one of the major factors driving the growth of the market for Fishmeal and Fish Oil in North America.
Increase in investments by the companies for the new technological advancements and improving productivity and performance of aquaculture across the region are some of the other driving factors that propels the growth of the North America Fishmeal and Fish Oil market.
Challenges:
Factors such as high price of the fish meal and fish oil and availability of alternative products in the market are few critical restraints effecting the development of the market of Fishmeal and Fish Oil in North America nations.
North America Fishmeal and Fish Oil Market – By Source:
salmon & trout
North America Fishmeal and Fish Oil Market – By Livestock Application:
North America Fishmeal and Fish Oil Market – By Industrial Application:
Regional Analysis:
North America Fishmeal and Fish Oil market is likely to expand owing to the rising productivity of aquaculture, along with the increasing consumption of fish meat and fish oil across the area. North America region is also estimated to record an increase in the revenue rate during the outlook period.
Key Players:
Some of the key players of North America Fishmeal and Fish Oil market are FF Skagen A/S, Copeinca, Coplex International S.A.S., Orizon, Pioneer Fishing, TripleNine Group A/S, Pesquera Exalmar, Corpesca S.A., FMC Corporation, Omega Protein, Sürsan A.Ş, GC Rieber Oils AS, The TASA Group, Austevoll Seafood, Croda International Plc, Oceana Group Limited, Mukka Sea Food Industries and others.
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