Overview and Scope
Fish powder refers to the finely ground powder formed from cooked fish flesh. Fish powder prepared from leftover fish can be used to supplement staple foods including maize and cassava, increasing micronutrient concentrations in the meal.
Sizing and Forecast
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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Segmentation & Regional Insights
The fish powder market covered in this report is segmented –
1) Fish Powder Market By Source: Whole Fish, By-Product
2) Fish Powder Market By Type: Steam Dried (SD) Fish Powder, Flame Dried (FD) Fish Powder
3) Fish Powder Market By Distribution Channel: B2B, B2C
4) Fish Powder Market By Application: Swine, Poultry, Aquaculture, Other Applications
5) Fish Powder Market By End-User: Food&Beverages, Sports Nutrition and Dietary Supplements, Cosmetics and Personal Care, Pharmaceuticals, Animal Feed, Fertilizer
Top Major Players
Austevoll Seafood ASA
Omega Protein Corporation
Daybrook Fisheries Inc.
Cermaq Group AS
Kodiak Fishmeal Company
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The fish powder market report table of contents includes:
1. Executive Summary
2. Fish Powder Market Characteristics
3. Fish Powder Market Trends And Strategies
4. Fish Powder Market – Macro Economic Scenario
5. Global Fish Powder Market Size and Growth
…..
32. Global Fish Powder Market Competitive Benchmarking
33. Global Fish Powder Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fish Powder Market
35. Fish Powder Market Future Outlook and Potential Analysis
36. Appendix
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