In 2024, the global fish powder market is expected to reach nearly USD 182.6 million. Over the forecast period, the demand for fish powder is projected to grow at a moderate CAGR of 6.6%. By 2034, the global industry is poised to achieve a market valuation of USD 303.1 million.
According to a new study by Future Market Insights (FMI), the market for fish powder is largely influenced by increasing applications as an ingredient in processed and convenience food products. Rising consumer demand for nutrition rich foods has bolstered consumption rates, driving market growth.
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Key Takeaways from the Fish Powder Market Study
- According to the report, several manufacturers are expanding their global footprint through acquisition of major regional players. This is also intended to expand their product offerings and increase the number manufacturing facilities. Currently key players are focusing on opening innovative development centers to boost manufacturing capabilities in the targeted country and improve their global presence.
- Since there is limited production of fish powder, leading manufacturers are now focusing on improving their distribution base in the global market in order to make sure the product is readily available to its target customers.
- Among various end-use segments, the usage of fish powder in animal feed is most common. Owing to the increasing health awareness and growing preference for processed food/diet with low fat, sugar, salt and high protein content, the demand for fish powder is considerably rising in the food & beverages segment.
- Technologies that are expected to gain prominence in the upcoming years are influenced by various macroeconomic factors that may also change the course of growth. Also, emergence of new technologies is likely in the near future. These technologies can replace the existing ones or render their traditional counterparts completely obsolete. The financial situation and the company’s manufacturing these products will select the course of the growth of these technologies
Competitive Landscape
Established companies in the target market are actively pursuing research and development initiatives to drive new technology advancements, particularly for exploring novel applications and products. Concurrently, these leading firms are focusing on expanding production capacities and facilities to bolster their market presence. Additionally, prominent businesses are forging strategic joint ventures and partnerships with other companies to further strengthen their competitive position.
- Polfish and Oceana Group.
- Aksha Fish Meal and Oil
- Austevoll Seafood ASA (Laco AS)
- Omega Protein Corporation
- FMC Corporation
- Croda International Plc.
- Oceana Group Limited
- GC Rieber Oil
- Rongcheng Hisheng Feed
- Zhejiang FengYu Halobios
Recent Developments in the Global Fish Powder Market
In June 2023, Z Natural Foods, based in the United States, introduced its Hydrolyzed Marine Collagen peptide products in retail packets. Z Natural Foods, a leading supplier of high-quality natural foods in powder form, claims to have developed it from high-quality marine sources, including white fish (cod), to assure the greatest level of purity.
With its outstanding amino acid composition, this collagen powder can be easily absorbed by the body, replenishing and restoring the skin’s natural collagen levels.
In June 2019, Cargill Incorporated, based in the United States, announced a partnership with InnovaFeed, a major French insect protein provider, to jointly commercialize fish feed including insect protein as part of its sustainable aquaculture portfolio.
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Key Segments Covered by Fish Powder Industry Survey Report
By Fish Species Type:
- Anchovy
- Sand Eel
- Horse Mackerel
- Sardine
- Pilchard
- Hilsa
- Others
By Product Type:
- Fish Protein Powder
- Fish Meal Powder
By Application:
- Animal Feed Industry
- Swine
- Poultry
- Aquaculture
- Others
- Food Industry
- Cosmetics and Personal Care
- Other Applications
By Distribution Channel:
- Business to Business (B2B)
- Business to consumer (B2C)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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