The global fish fermentation market size is expected to reach US$ 544.3 Mn in 2023 and further expand at 5.6% CAGR over the next ten years (2023-2033). Furthermore, overall sales in the market are projected to reach a valuation of US$ 983.6 Mn by 2033.
One of the main factors propelling the global fish fermented market forward is the rising demand for fermented food products, including fermented fish, because of their high nutritional content and longer shelf life.
Fish are preserved through fermentation in the process known as “fish fermentation.” The anaerobic environment produced by fermentation inhibits the development of spoilage bacteria. In many cultures all over the world, fermentation of fish has been a traditional method of preservation.
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The most common type of fish fermented is salted and dried fish. The salt helps to draw out water from the fish, creating an inhospitable environment for bacteria to grow. The process of fermentation can take several weeks to several months, depending on the type of fish and the desired level of fermentation.
During fermentation, the proteins in the fish break down into amino acids, which give fermented fish its characteristic umami flavor. Fermented fish is a rich source of probiotics, which are beneficial for gut health. It is also a good source of vitamin B12 and omega-3 fatty acids. Thus, rising awareness about the health benefits of fermented fish will continue to boost the global fish fermentation market during the projection period.
Regionally, Europe along with North America will continue to dominate the global fish fermentation market during the projection period. This can be attributed to the increasing demand for healthy and nutritious food and growing popularity of fermented fish products among consumers.
Key Takeaways from the Fish Fermentation Market Study:
- Fish fermentation market is projected to expand at 5.6% CAGR between 2023 and 2033.
- By process, the whole fish fermentation segment will generate the highest revenues in the market.
- Based on distribution channel, the online segment is likely to grow at a higher pace over the next ten years.
- North America and Europe together hold the largest share of the global fish fermentation market and the trend is expected to continue during the forecast period.
- Asia pacific region is expected to emerge as one of the lucrative fish fermentation markets during the projection period.
- The U.S. currently holds around 68% share of the North America fish fermentation market.
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Who is Winning?
Some of the major players in fish fermentation market include LactoSpore (India), Danisco A/S (Denmark), Advanced Biotechnologies Inc. (US), Kerry Group plc (Ireland), and Associated British Foods plc (UK). These players are constantly adopting strategies such as partnerships, acquisitions, mergers, and facility expansions to solidify their position in the market.
Get Valuable Insights into Fish Fermentation Market
FMI, in its new offering, provides an unbiased analysis of the Fish Fermentation market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Fish Fermentation market based on Type of Fish (Salmon, Tuna, Cod, Others), Process (Whole Fish Fermentation, Fillet Fermentation), and Sales Channel (Online, Offline), across several regions.
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