A recent market analysis by the specialists Future Market Insights predicts good growth prospects for the market for fishmeal alternatives. Fishmeal alternatives are typically derived from plants, with only a small proportion coming from non-plant sources such as industrial waste, by-products and microorganisms.
The market for fishmeal alternatives is expected to show high annual growth rates over the forecast period as the trend towards sustainable and cost-effective agriculture increases globally. The market is expected to be dominated by the Asia-Pacific region, which has the largest consumption of all types of feed and additives.
In the report, the market for fishmeal alternatives is subdivided into plants, animals and microorganisms. The plant segment is further divided into peas, lupines, corn, rice, canola, rape, barley and wheat. The plant segment is expected to dominate the global fishmeal alternatives market due to its ease of production and lower price than conventional fishmeal.
The report also notes that the market is driven by growing consumer demand for ethical and nutritious foods. The global demand for protein is increasing as the world’s population grows, and alternative sources could be the solution. That is why alternative fishmeal products are also perfectly suited to addressing growing concerns about food shortages, whilst also reducing our carbon footprint.
The full report can be found here.