Market Size –
The fish powder market size has grown strongly in recent years. It will grow from $8.22 billion in 2023 to $8.82 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increased consumer awareness of the nutritional benefits of fish, growth in demand for protein-rich and functional food ingredients, rise in health consciousness and preference for natural ingredients, expansion of aquaculture and fisheries industries, need for sustainable and eco-friendly food sources, demand for fish powder in animal feed and pet food industries.
The fish powder market size is expected to see strong growth in the next few years. It will grow to $11.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to adoption of fish powder as a flavor enhancer and natural umami ingredient, emphasis on waste reduction and utilization of fish by-products, need for omega-3 fatty acids and essential micronutrients in diets, expansion of fish powder in cosmetic and personal care products, growing demand for fish protein in sports and fitness nutrition. Major trends in the forecast period include microencapsulation of fish powder, clean label and natural processing, innovative packaging solutions, powdered fish oil and omega-3 supplements, fortification of food and beverages.
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Scope Of Fish Powder Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fish Powder Market Overview
Market Drivers –
The rise in the production of functional foods is significantly driving the growth of the fish powder market. Functional foods are frequently chosen because they provide numerous health benefits and are healthy. Fish powder is an important functional food since it provides calcium, antihypertensive proteins, and antioxidants. For instance, according to the Institute of Food Technologists (IFT), a US-based non-profit scientific society, the sales of functional foods and beverages in the United States reached $83 billion in 2021, a 6.8% increase over 2020. Therefore, the increasing production of functional foods is expected to drive the growth of the fish powder market going forward.
The fish powder market covered in this report is segmented –
1) By Source: Whole Fish, By-Product
2) By Type: Steam Dried (SD) Fish Powder, Flame Dried (FD) Fish Powder
3) By Distribution Channel: B2B, B2C
4) By Application: Swine, Poultry, Aquaculture, Other Applications
5) By End-User: Food&Beverages, Sports Nutrition and Dietary Supplements, Cosmetics and Personal Care, Pharmaceuticals, Animal Feed, Fertilizer
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Regional Insights –
Asia-Pacific was the largest region in the fish powder market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the fish powder market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the fish powder market include Austevoll Seafood ASA, Omega Protein Corporation, Daybrook Fisheries Inc., Cermaq Group AS, Kodiak Fishmeal Company, Pesquera Exalmar SAA, Nissui Corporation, Pesquera Hayduk S.A., Oceana Group Limited, Dalian Longyuan Fish Meal Co. Ltd., FMC Corporation, Marvesa Holding N.V., Tecnológica de Alimentos S.A., Croda International plc, Sursan Su Urunleri AS, Alaska Seafood International LLC, Pelagia AS, Scanbio Marine Group AS, Pioneer Fishing Pty Ltd., Sardina D.O.O., Novofood SA, Qingdao Future Group, Havsbrún, Norebo Holding AS, TripleNine Group A/S, United European Seafood Traders PTE LTD., Balticovo AS, Scoular Company, GC Rieber Oil AS, Austral Group SAA, FF Skagen A/S, GC Rieber Oils AS
Table of Contents
1. Executive Summary
2. Fish Powder Market Report Structure
3. Fish Powder Market Trends And Strategies
4. Fish Powder Market – Macro Economic Scenario
5. Fish Powder Market Size And Growth
…..
27. Fish Powder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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