Global Fish Powder Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Fish Powder Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global fish powders market report has been segmented on the basis of species, application, and region.
Global Fish Powder Market: Overview
According to the United Nations, Food and Agriculture Organization (FAO), aquaculture is the world’s fastest-growing industries accounting for more than half of the global edible seafood supply. Fish are the rich source of docosahexaenoic acid and omega-3 fatty acids which are beneficial for human health. The fish powder is a rich source of phosphorus, selenium, calcium, magnesium, B12, iron, sodium chloride, choline, and zinc. Fish powder is food grade powder product labelled for human consumption applications. It used in a variety of food ingredient applications such as supplements, sports nutrition, and food additives.
Global Fish Powder Market: Dynamics
Rising consumption of fish-based products and rapidly growing use of fish powder for the fortification of food product are the major factors expected to drive growth revenue in the global market for over ten years. In addition, higher demand for functional food, increasing usages of fish powder in ready-to-eat meal product, increasing consumption of fish protein powder are some of the other factors expected to drive the growth in terms of revenue in the target market. However, threat to coastal ecosystems is major factor that could restraint the growth in term of revenue in the target market to a certain extent.
Global Fish Powder Market: Segment Analysis
Among the species segments, the whole flesh segment is expected to significant share and register a higher growth in terms of revenue in the global market. This is due to, rapidly growing frozen food product sector and fisheries industries coupled with technological advancements in packaging of these products. Among the application segments, aquaculture is estimated to account higher market share, owing to rapid expansion in fisheries and aquaculture production and various initiatives favouring growth of the aquaculture market.
Global Fish Powder Market: Trends
Established players in the target market are carrying out various research and development activities in order to develop new technologies. Prominent players are adopting strategic joint ventures and partnerships with other companies for introducing of new application and products. The aforementioned are some of the major trends witnessed in the global fish powder market.
Global Fish Powder Market: Region Analysis
The market in Europe is expected to register for the majority market share in the global market, followed by the market in North America. This is primarily attributed, improved regulatory framework, rising awareness about the health benefits of fish powder, and growing demand for a convenience food product. Revenue from the Asia Pacific fish powders market is expected to register the fastest CAGR in the upcoming years. China is the world’s largest aquaculture producer, accounting for over 60% of cultured seafood production globally, followed by India, Vietnam, Indonesia, Bangladesh, and Thailand. In addition, the demand for new type of Arctic fish powder which is extracted from fish found in the Arctic region is increasing in countries such as China and India, is a factor expected to support growth of the Asia Pacific fish powder market.
Global Fish Powder Market Segmentation
Segmentation by species:
- White Flesh
Segmentation by application:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Daybrook Fisheries, Inc.
- Akash Fish Meal and Oil Pvt Ltd.
- Mexican Seafood Co.
- Madai Ltd.
- Lucky Star Metal Agricultural Co. Ltd.
- MC Machinery Co. Ltd.
- Thanh Ha Agriculture and Forest product processing and export Co., Ltd.
- SALMON CLUB S.r.l.
- Mclarnon & Sons Limited
- Austevoll Seafood ASA
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