The global fish waste management market valued at $5.4 billion in 2023, is projected to grow to $7.2 billion by 2033, marking a 2.9% CAGR. Factors driving this growth include the imperative to utilize resources, increased demand for sustainable practices in various industries, and rising environmental awareness. Strategies emphasizing effective waste management and circular economy principles will further boost demand. Innovative marketing by major processors and eco-friendly use of fish by-products are expected to drive industry expansion over the next decade.
FMI’s analysis reveals that the global fish waste management market is currently valued at US$ 5,412.0 million in 2023 and is expected to grow significantly, reaching a market valuation of US$ 7,234.0 million by 2033, exhibiting a CAGR of 2.9% during the forecast period. The need to use waste resources, the expanding demand for alternative goods and processes across numerous industries, and the growing awareness of environmental sustainability will all contribute to an increase in the fish waste management industry. Effective waste management and circular economy strategies would also fuel demand for fish waste management during the predicted period.
Over the next 10 years, the industry is expected to expand due to innovative marketing tactics employed by large fish waste processors and the environmentally benign use of fish by-products.
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Processors of fish waste use cutting-edge technology to turn fish waste into renewable energy sources like biogas and biofuels.
Waste is being processed into useful goods including oils, collagen, and fishmeal that are used in a variety of sectors.
Effective fish waste management prevents waste from building up in aquatic habitats, lowering the risk of ecological disruption. By properly handling fish waste, we can protect both marine and freshwater ecosystems, protect biodiversity, and keep the delicate balance of aquatic habitats.
Fish waste processors are collaborating with other sectors and organisations to enhance waste management procedures. Contracts for waste collection with aquaculture farms are necessary for this, as are partnerships with research institutions to develop cutting-edge technology and cooperation with government agencies to assure compliance with waste management laws.
Key Takeaways from the Fish Waste Management Report:
- The global fish waste management industry is anticipated to be worth US$7,234.0 million by 2033.
- Global demand for fish waste management is likely to soar at 9% CAGR over the forecast period.
- Based on the source, the fish segment is anticipated to reach a valuation of US$ 5 million by 2033.
- Based on the end-use industry, the fertilizers segment is anticipated to reach a valuation of US$ 2 million by 2033.
- The United States fish waste management industry is projected to reach a valuation of US$ 03 million by 2033.
- During the forecast period, it is expected that the German market will grow in value at a CAGR of 2%.
“The fish waste management industry is concentrated on the effective utilization and ethical disposal of fish waste produced by the fishing and processing sectors. It includes multiple strategies that promote sustainability, resource efficiency, and environmental protection, such as recycling, repurposing, and processing fish waste into useful products” – says a lead analyst at Future Market Insights (FMI)
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Who is Winning?
Scanbio, SAMPI, Biomax Technologies Pvt. Ltd, Sorbwater, Blue Ocean Technology, Scottish Sea Farms, Vinh Hoan Corporation, Nam Viet, Vietnam Food, and Sancho Pancho are key fish waste management manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- In 2022, Vietnamese pangasius producer Sao Mai Group successfully processed fish fat into high-value products like cooking oil, margarine, and, shortening.
- Biomax Technologies Pte Ltd has developed Biomax Rapid Thermophilic Digestion Technology, a process of converting organic waste from fish farms and fish processing plants into fertilizer in 24 hours.
Get More Valuable Insights
Future Market Insights (FMI) presents historical demand data (from 2018 to 2022) and projected figures for the years 2023 to 2033 in its latest offering, which offers an independent analysis of the worldwide fish waste management industry
The analysis provides valuable information on the fish waste management industry based on source (fish surimi, meat surimi), end use (food industry, pharmaceutical industry, animal feed, pet food, food service, retail), and geographical region.
Fish Waste Management Market by Category
By Source:
- Fish
- Shrimp
- Squid
By End-Use Industry:
- Fish Meal and Fish Oil Industry
- Animal Feed
- Pet Food
- Organic fertilizers
- Energy Generation
- Cosmetics
- Pharmaceuticals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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