Increasing demand for naturally obtained protein additives in animal food and growing aquaculture industry are the major factors driving the growth of global fishmeal market during the forecast period. Manufacturers are also working towards product innovations and are making heavy investments in R&D for further expansion of the global fishmeal market. However, high price variations, increasing alternatives of fishmeal products as well as overfishing is expected to significantly hinder the growth of global fishmeal market.
A recent report anticipates that the global market for fishmeal will expand at a steady 5.2% CAGR during the forecast period, 2017-2027, to touch an evaluation of nearly US$ 10Bn by 2027-end. Companies namely Novus International Inc., Omega Protein Corporation, Calysta, Inc., TASA, Biomega AS, Aker BioMarine Antarctic AS and Unibio A/S amongst others will witness a substantial growth worldwide. Leading companies are concentrating on marketing strategies such as product developments and expanding their product portfolio.
Calysta’s Protein Food Gets Approval for Usage in Animal Feed
Calysta, Inc. recently informed that its FeedKind® protein received approval as an ingredient to be used in organic methods for animal feed in UK and EU by OF&G (Organic Farmers & Growers). FeedKind® protein of Calysta is a power-pack of natural, traceable and sustainable feed ingredients for pets, fish and livestock. This approval helps the company in meeting the increasing need for innovative protein sources. This supports the commitment of Calysta towards traceability and a lowered environmental footmark in the aquaculture food supply chain. FeedKind® protein is a non-animal, sustainable and safe source of protein, which received approval for sale in several countries. This ingredient is also considered as an alternative to wheat and soy proteins.
Omega Protein Corporation Acquired By Cooke Inc.
After one cancelled auction and two activist campaigns, nutritional products producer Omega Protein Corporation recently announced the company has been acquired by Cooke Inc. Omega Protein’s acquisition will help Cooke to further expand the supply chain of its business and also would support their seafood production. Cooke is planning to deliver superior service, products and value to customers along with safe and eco-friendly product assurance. The animal food ingredients delivered by Omega Protein is considered as a vital component in Cooke in the production of Aquaculture, of strong Atlantic salmon. Therefore this acquisition is expected to be a turning strategic move for Cooke, as it would enhance its vertical integration.
Novus International Achieves a New Production Facility
Novus International, Inc., recently announced about the selection of a new site for expanding its manufacturing business. The new site is expected to be constructed in Calhoun County, USA. The proposed manufacturing facility is based on the site of INEOS Nitriles, LLC® at Green Lake. By working together, Novus and INEOS will expand manufacturing capacity substantially at the new site. This project is likely to be a remarkable investment in USA. The company is also taking efforts in meeting the increasing need for animal protein production.
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