The Asia-Pacific fishmeal and fish oil market is expected to experience a compound annual growth rate (CAGR) of 5.1 per cent by 2029, according to Orion Market Research. This market is the largest in the world, as these products are abundantly produced in the region. The Asia-Pacific region consumes more than 60 per cent of the world's fish oil, with China being the largest consumer. The aquaculture industry is driving the fish oil market in Asia-Pacific, as it is commonly used as an aqua feed ingredient in China, Japan, and India. In Japan, Omega 3 fish oil is consumed primarily in pharmaceuticals and nutraceuticals due to the country's growing market for eicosapentaenoic acids (EPA) and docosahexaenoic acids (DHA). The Japanese government is also promoting Omega 3 fatty acid intake to prevent cardiovascular disease, which has further boosted the growth of the fishmeal and fish oil market.
Approximately 70 per cent of fish and crustaceans produced in aquaculture are fed with protein-rich feed wherein fish meal acts as a key ingredient. Fish meal is a highly concentrated nutritious feed supplement consisting of highquality protein, essential amino acids, vitamins, and essential minerals such as phosphorus, calcium iron and other growth factors. Owing to its nutritional value, it is the preferred animal protein supplement in the diets of farm animals and is often the major source of protein in diets for fish and shrimp. Each year, around 20 million tonnes of raw materials are being used to produce fishmeal and fish oil.
This story is from the AgroSpectrum India Sep 2023 edition of AgroSpectrum.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the AgroSpectrum India Sep 2023 edition of AgroSpectrum.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Centre directs NCCF and NAFED to procure 5 lakh tonnes of onion
In the current year, the government has directed The National Cooperative Consumers' Federation of India Ltd (NCCF) and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) to initiate procurement of 5 lakh tonnes (LT) of onion for the buffer requirement directly from the farmers as Rabi-2024 harvest started arriving in the market.
APSEZ to acquire 56% stake in Gopalpur Port Ltd
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has entered into a definitive agreement to purchase 56 per cent stake of the SP Group and 39 per cent of Orissa Stevedores Limited (OSL) in Gopalpur Port Limited (GPL).
FMC India launches innovative precision agriculture platform Arc farm intelligence
FMC India, an agricultural sciences company, has launched its innovative precision agriculture platform Arc farm intelligence in India.
IFFCO inks MoU with ACME to buy 2 LMT of commercial grade ammonia
Cooperative fertiliser major IFFCO has signed a memorandum of understanding (MoU) with renewable energy company ACME for supply of commercial-grade ammonia.
Argus launches first low and zero-carbon nitrogen fertiliser assessments
Global energy and commodity price reporting service Argus launched the world’s first assessments for low and zero-carbon calcium ammonium nitrate (CAN), an important nitrogen-based fertiliser used extensively in Europe.
CNH adds Multi-Vehicle Simulator to India Technology Center
CNH, a global leader in agricultural and construction solutions, announced the addition of a cutting-edge Multi-Vehicle Simulator (MVS) at the company’s India Technology Center (ITC).
IIM Lucknow study reveals Agtech platforms' role in digitising Indian agriculture'
Indian Institute of Management Lucknow’s research underscores the importance of digitising India’s farming and agricultural sectors and its potential to revolutionise the entire industry.
ICRISAT study unveils decentralised Biochar production system for farmlevel sustainability
A recent study by the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) scientists explores the design of an affordable, farm-level operable kiln for biochar production aimed at supporting smallholder farmers.
Australia to develop a National Statement on First Nations in Agriculture
All Australian agriculture ministers have agreed to develop a National Statement on First Nations in Agriculture.
ICAR-DCFR patents a diagnostic solution that rapidly detects deadly fish pathogen L. garvieae
In a significant stride towards combating the devastating impact of Lactococcus garvieae, ICAR- Directorate of Coldwater Fisheries Research (DCFR), Bhimtal clinched its patent for a pioneering diagnostic solution.