FMI’s analysis reveals that the global fish waste management market is projected to increase dramatically, with a compound annual growth rate (CAGR) of 2.9%, from its present market valuation of US$ 5,412.0 million in 2023 to US$ 7,234.0 million by 2033. The need to use waste resources, the expanding demand for alternative goods and processes across numerous industries, and the growing awareness of environmental sustainability will all contribute to an increase in the fish waste management industry. Effective waste management and circular economy strategies would also fuel demand for fish waste management during the predicted period.
Over the next 10 years, the industry is expected to expand due to innovative marketing tactics employed by large fish waste processors and the environmentally benign use of fish by-products.
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Fish waste processors are using advanced technologies to convert fish waste into renewable energy sources such as biogas and biofuels.
Processors are finding ways to convert waste into valuable products such as oils, collagen, and fishmeal to be used in various industries.
Efficient fish waste management reduces the risk of ecological disruption by preventing waste accumulation in aquatic ecosystems. Treating fish waste correctly helps to safeguard marine and freshwater ecosystems, preserving biodiversity and maintaining the delicate aquatic habitat balance.
Processors of fish waste are partnering with other industries and organizations to improve waste management practices. This involves waste collection contracts with aquaculture farms, collaboration with research institutes to create innovative technology, and involvement with government authorities to ensure waste management regulations are followed.
Key Takeaways from the Fish waste management Report:
- The global fish waste management market is anticipated to be worth US$7,234.0 million by 2033.
- Global demand for fish waste management is likely to soar at 2.9% CAGR over the forecast period.
- Based on the source, the fish segment is anticipated to reach a valuation of US$ 2488.5 million by 2033.
- Based on the end-use industry, the fertilizers segment is anticipated to reach a valuation of US$ 1924.2 million by 2033.
- The United States fish waste management market is projected to reach a valuation of US$ 1794.03 million by 2033.
- During the forecast period, it is expected that the German market will grow in value at a CAGR of 7.2%.
“The fish waste management industry is concentrated on the effective utilization and ethical disposal of fish waste produced by the fishing and processing sectors. It includes multiple strategies that promote sustainability, resource efficiency, and environmental protection, such as recycling, repurposing, and processing fish waste into useful products” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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Who is Winning?
Scanbio, SAMPI, Biomax Technologies Pvt. Ltd, Sorbwater, Blue Ocean Technology, Scottish Sea Farms, Vinh Hoan Corporation, Nam Viet, Vietnam Food, and Sancho Pancho are key fish waste management manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- In 2022, Vietnamese pangasius producer Sao Mai Group successfully processed fish fat into high-value products like cooking oil, margarine, and, shortening.
- Biomax Technologies Pte Ltd has developed Biomax Rapid Thermophilic Digestion Technology, a process of converting organic waste from fish farms and fish processing plants into fertilizer in 24 hours.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global fish waste management market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the fish waste management market based on source (fish surimi, meat surimi), and end use (food industry, pharmaceutical industry, animal Feed, pet food, food service, retail) across various regions.
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Fish waste management Market by Category
By Source:
- Fish
- Shrimp
- Squid
By End-Use Industry:
- Fish Meal and Fish Oil Industry
- Animal Feed
- Pet Food
- Organic fertilizers
- Energy Generation
- Cosmetics
- Pharmaceuticals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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