Global Fish Powder Market – Industry Trends and Forecast to 2029

Fish Powder Market Analysis and Size

Seasoning has become an essential component of many cultures around the world's dining tables. Fish powder is expected to be popular in the coming years among all seasonings. The rising demand for nutritional seasoning and growing health-conscious population is driving the growth of the fish powder market.

Data Bridge Market Research analyses that the fish powder market was growing at a value of USD 6.6 billion in 2021 and is expected to reach the value of USD 10.92 billion by 2029, at a CAGR of 6.5% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Fish Powder Market Scope and Segmentation

Market Definition

Fish powder is made by drying and grinding a fish or by removing the fish's water and oil. Fish meal is another name for fish powder. Fish powder is used in the formulation of feed for farmed fish, pigs, dogs, cattle, and poultry. Because it contains amino acids, protein, fatty acids, and other minerals, fish powder is an essential nutrient for animal feed.

Fish Powder Market Dynamics

Drivers

• Growing product expansions in retail channels

The growing population's desire for convenience has resulted in the availability of fish powders in supermarkets/hypermarkets. Modern trade channels have taken centre stage, resulting in growing market shares for supermarkets and hypermarkets. The variety of product options available under one roof has given this channel an advantage.

• High demand from various end user industries

Due to the numerous nutrients found in fish, such as omega-3, vitamin D, and B2, consumers are gravitating toward fish meat as a replacement for chicken and red meat. This is compelling manufacturers to introduce a variety of packaged ready-to-use fish gravies. These are primarily available in powder form in sachets to provide optimal taste and convenience to consumers, particularly in developed countries with busier lifestyles.

As a result, the demand for fish powder, a key ingredient in preparing these dishes, is increasing. Furthermore, consumers in developed countries are more willing to try new foods and flavors, increasing fish powders' sales.

Opportunity

Manufacturers have been attempting to include more products in the fish powder line-up because people all over the world use it as a seasoning in various foods. Health benefits such as improved liver strength, hormonal balance, eyesight, and strength development drive the global fish powder market. Customers are more sensitive to genuine products and willing to pay higher prices. This raises the global demand for premium fish powders.

Restraints

However, the various adverse health effects caused by the presence of harmful artificial preservatives in fish powder, as well as the lack of nutritional content in chemically fermented fish powder, are expected to act as a restraint on the growth of the fish powder market, whereas the easy availability of many alternatives to fish powder, as well as growing health concerns related to added preservatives, are expected to challenge the growth of the fish powder market.

This fish powder market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the fish powder market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Fish Powder Market

Over the last 18 months, almost every industry in the world has suffered a setback. This is due to significant disruptions in their respective manufacturing and supply-chain operations due to various precautionary lockdowns and other restrictions imposed by governing authorities worldwide. The same is for the global market for fish powder. Furthermore, consumer demand has subsequently decreased as people are now more focused on eliminating non-essential expenses from their respective budgets as the general economic status of most people has been severely impacted by this outbreak. These factors are expected to weigh on the revenue trajectory of the global fish powder market over the forecast period.

Recent Development

• Cargill signed an agreement in June 2019 with InnovaFeed, a leading French insect protein supplier to jointly market fish feed containing insect protein in order to support the growth of its sustainable aquaculture portfolio.
• In another case, Cargill opened its first-ever dedicated fish feed plant in India in January 2018, with the goal of tripling and providing farmers with access to high-quality feed fish feed.

Global Fish Powder Market Scope

The fish powder market is segmented on the basis of species, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Species

• Short-Lived
• Long-Lived
• Low-Fat
• White Flesh

Application

• Swine
• Aquaculture
• Poultry

Distribution channel

• Supermarket and Hypermarket
• Convenience Stores
• Specialty Stores
• Online Retailers

Fish Powder Market Regional Analysis/Insights

The fish powder market is analysed and market size insights and trends are provided by country, species, application and distribution channel as referenced above.

The countries covered in the fish powder market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.

North America leads the fish powder market due to rising consumer demand as well as high product demand from restaurants and the food service industry in this region.

Asia-Pacific is expected to grow at a significant rate from 2022 to 2029, owing to rising product popularity in most cuisines in countries such as China and Japan, as well as rising disposable income levels and rapid urbanisation within this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Fish Powder Market Share Analysis

The fish powder market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to fish powder market.

Some of the major players operating in the fish powder market are:

• Croda international plc. (U.K.)
• Empresas copec s.a. (Chile)
• Biomega as (Norway)
• Oceana group limited (South Africa)
• Omega protein corporation (U.S.)
• Fmc corporation (U.S.)
• Austevoll seafood ASA (Norway)
• Calysta, Inc. (U.S.)
• Pioneer fishing (pty), ltd. (South Africa)
• The scoular company (U.S.)
• Aker bio marine antarctic as (Norway)
• SARMA FISH S.A.R.L (Morocco)
• Animalfeeds international corporation (U.S.)
• Alpha atlantique (France)
• Novus Animal Nutrition (India) Private Limited (U.S.)

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