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 industry for fish waste management will increase as a result of growing awareness of environmental sustainability, the need to utilize waste resources, and the increasing demand for alternative products and processes in various industries. During the forecast period, demand for fish waste management will also be driven by efficient waste management and circular economy practices
The market is anticipated to grow over the next ten years because of creative promotional strategies used by major fish waste processors while utilization of fish by-products in eco-friendly ways.
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Fish waste processors are using advanced technologies to convert fish waste into renewable energy sources such as biogas and biofuels.
Processors are finding ways to convert waste into valuable products such as oils, collagen, and fishmeal to be used in various industries.
Efficient fish waste management reduces the risk of ecological disruption by preventing waste accumulation in aquatic ecosystems. Treating fish waste correctly helps to safeguard marine and freshwater ecosystems, preserving biodiversity and maintaining the delicate aquatic habitat balance.
Processors of fish waste are partnering with other industries and organizations to improve waste management practices. This involves waste collection contracts with aquaculture farms, collaboration with research institutes to create innovative technology, and involvement with government authorities to ensure waste management regulations are followed.
Key Takeaways from the Fish waste management Report:
- The global fish waste management market is anticipated to be worth US$7,234.0 million by 2033.
- Global demand for fish waste management is likely to soar at 2.9% CAGR over the forecast period.
- Based on the source, the fish segment is anticipated to reach a valuation of US$ 2488.5 million by 2033.
- Based on the end-use industry, the fertilizers segment is anticipated to reach a valuation of US$ 1924.2 million by 2033.
- The United States fish waste management market is projected to reach a valuation of US$ 1794.03 million by 2033.
- During the forecast period, it is expected that the German market will grow in value at a CAGR of 7.2%.
“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), in its new offering, provides an unbiased analysis of the global fish waste management market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the fish waste management market based on source (fish surimi, meat surimi), and end use (food industry, pharmaceutical industry, animal Feed, pet food, food service, retail) across various regions.
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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
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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