The size of the global fish fermentation market is anticipated to be US$ 544.3 Million in 2023, and it will continue to grow at a 5.6% CAGR from 2023 to 2033. Additionally, it is anticipated that by 2033, market-wide sales will total US$ 983.6 Million.
The increasing demand for fermented food products, including fermented fish, because of their high nutritional content and longer shelf life is one of the main factors driving the global fish fermented market forward.
“Fish fermentation” is the preservation of fish through fermentation. The anaerobic environment created by fermentation prevents spoilage bacteria from growing. Fish fermentation has long been used as a traditional method of preservation in many different cultures all over the world.
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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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