Growth of Global Aquaculture Drives Demand for Daybrook Products
World population has increased dramatically, growing from 4.5 billion in 1980 to 7 billion in 2012. Increasing sources of protein is vital to sustaining this growth. Aquaculture (fish farming) products help provide the much needed food to support this population growth, and emerging markets, such as China and Asia, are driving forces in changing the supply/demand dynamics for fishmeal and fish oil.
Global Fishmeal Consumption by Market Segment
In the 1980s, fishmeal was primarily used for animal feeds, with the highest percentage going to poultry production. Fish oil was primarily used in the world market for hydrogenated shortenings and margarine as well as for paint and other industrial uses. As global demand for fish and seafood products has increased, aquaculture has grown exponentially and has become the largest user of fishmeal and fish oil. The amount of fish oil used for industrial and hydrogenation purposes has fallen drastically, and fish oil and fishmeal used in traditional animal feed has also decreased as aquaculture has grown.
Global Fish Oil Consumption by Market Segment
In 2005, global aquaculture production was 48.49 million tons. In 2011, the last year for which world production figures are available, global aquaculture production was reported by the U.N.’s Food and Agriculture Organization to be 83.7 million tons and valued at $136 billion. Because fishmeal and fish oil are strategic ingredients in aquaculture feed, the demand for Daybrook’s products has also grown.
Although Daybrook’s products will continue to play an important role in the nutrition of farmed-raised seafood, new markets for our products are emerging, such as omega-3 supplements, pharmaceuticals, and functional foods. Menhaden contain high amounts of omega-3 fatty acids, which are important nutrients for humans.