Market Leaders: FKS Multi Agro and Mukka Proteins Limited are Focusing On Investments and Expansions to Consolidate their Position in the market of Fishmeal & Fish Oil
The global fishmeal & fish oil market size is estimated to value at USD 12.1 billion in 2022 and is projected to reach USD 15.4 billion by 2027, recording a CAGR of 4.9%, in terms of value during the forecast period. The fishmeal & fish oil cater to a range of livestock applications such as aquatic animals, swine, poultry, cattle and pets and industrial applications such as fertilizers, aquaculture, and pharma. Their demand has been surging in recent years owing to the rising focus and increased spending towards health and nutrition of pet animals.
Key players in this market include FKS Multi Agro (Indonesia), Mukka Proteins Limited (India), Arbee (India), Sandakan Fishmeal Sdn Bhd (Malaysia), Wudi Deda Agriculture Co., Ltd. (China), Raj Fishmeal and Oil Company (India), Asia Fish Oil Corporation (Vietnam), Dai Dai Thanh Seafoods (Vietnam), Pattani Fish Meal (1988) Co., Ltd. (Thailand) and Austevoll Seafood ASA (Norway).
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The key players are focusing heavily on improving their market shares, while their newer start-ups are being established rapidly in the market. The fishmeal & fish oil market can be classified as a fragmented market with the top five players accounting for a market share of 20-25%, at present at the global level. There are numerous local players in the form of existing and emerging companies in several countries, particularly in Asian markets.
FKS Multi Agro (Indonesia) accounts among the leading fishmeal & fish oil companies in Asia Pacific region. The company has a strong distribution and robust supply chain management system in Indonesia which enables it to cater to the rising demand of the fishmeal & fish oil industry efficiently. FKS Multi Agro has been expanding its manufacturing and storage facilities and strengthening its supply chain management system over the years. The company focuses strongly in investing in its R&D capabilities and aims to deliver high-quality fishmeal and oil products which has enabled it to become one of the market leaders in the fishmeal & fish oil industry
Mukka Proteins Limited (India) is a market leader in fishmeal & fish oil industry and is one of the leading producers of fishmeal, fish oil, and fish-soluble pastes which finds applications in livestock and pharmaceutical applications. Mukka Proteins Limited focuses strongly on quality management practices and has a range of international quality certifications, including GMP+, Halal, HACCP, EIA, MPEDA, IFFO, ISO 9001:2015, ISO 22000:2018 certification by NQA, and UKAS Management Systems which has significantly enhanced their brand reputation in recent years. The company exports its products to major geographical regions, such as North America, South America, Asia Pacific, the Middle East and Africa. It has a significant customer base in countries such as Australia, Malaysia, the US, Mexico, Saudi Arabia, the UAE, Guinea, and Chile which gives the company a competitive edge over its rivals.
Related Reports:
Fishmeal & Fish Oil Market by Type (Fishmeal, Fish Oil), Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, Carps), Livestock Application (Aquatic Animals, Swine, Poultry, Cattle, Pets), Industrial Application & Region - Global Forecast to 2027
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