The global fish powder market is expected to be valued at approximately USD 182.6 million in 2024. The demand for fish powder is projected to grow at a moderate CAGR of 6.6% over the forecast period. By 2034, the market is anticipated to reach a valuation of USD 303.1 million.
Consumers today are more selective about their food choices than in the past. As their knowledge has increased, there is a growing demand for food products that offer better taste, higher quality, and environmental sustainability. Fish, being a readily available and nutrient-rich food source, packed with protein, minerals, and vitamins, has seen a significant rise in consumption over time.
Key Takeaways from the Fish Powder Market Study
-The report claims that a number of manufacturers are acquiring significant regional companies in order to increase their global reach. Additionally, this is done to enhance the number of manufacturing facilities and the range of products they offer. In order to increase production capacity in the chosen nation and strengthen their worldwide footprint, leading businesses are currently concentrating on creating innovative development centres.
-Since there is limited production of fish powder, leading manufacturers are now focusing on improving their distribution base in the global market in order to make sure the product is readily available to its target customers.
-Among various end-use segments, the usage of fish powder in animal feed is most common. Owing to the increasing health awareness and growing preference for processed food/diet with low fat, sugar, salt and high protein content, the demand for fish powder is considerably rising in the food & beverages segment.
-Technologies that are expected to gain prominence in the upcoming years are influenced by various macroeconomic factors that may also change the course of growth. Also, emergence of new technologies is likely in the near future. These technologies can replace the existing ones or render their traditional counterparts completely obsolete. The financial situation and the company’s manufacturing these products will select the course of the growth of these technologies
Competitive Landscape
Established companies in the target market are investing heavily in research and development to create new technologies and explore innovative applications and products. To capture a substantial market share, leading firms are focusing on expanding their production capabilities and facilities. Additionally, major players are forming strategic joint ventures and partnerships to enhance their market presence.
Recent Developments in the Global Fish Powder Market
- In June 2023, Z Natural Foods, based in the United States, introduced its Hydrolyzed Marine Collagen peptide products in retail packets. Z Natural Foods, a leading supplier of high-quality natural foods in powder form, claims to have developed it from high-quality marine sources, including white fish (cod), to assure the greatest level of purity.
- With its outstanding amino acid composition, this collagen powder can be easily absorbed by the body, replenishing and restoring the skin’s natural collagen levels.
- In June 2019, Cargill Incorporated, based in the United States, announced a partnership with InnovaFeed, a major French insect protein provider, to jointly commercialize fish feed including insect protein as part of its sustainable aquaculture portfolio.
Key Players Profiled in the Fish Powder Market Report
- Polfish and Oceana Group.
- Aksha Fish Meal and Oil
- Austevoll Seafood ASA (Laco AS)
- Omega Protein Corporation
- FMC Corporation
- Croda International Plc.
- Oceana Group Limited
- GC Rieber Oil
- Rongcheng Hisheng Feed
- Zhejiang FengYu Halobios
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Key Segments Covered by Fish Powder Industry Survey Report
By Fish Species Type:
- Anchovy
- Sand Eel
- Horse Mackerel
- Sardine
- Pilchard
- Hilsa
- Others
By Product Type:
- Fish Protein Powder
- Fish Meal Powder
By Application:
- Animal Feed Industry
- Swine
- Poultry
- Aquaculture
- Others
- Food Industry
- Cosmetics and Personal Care
- Other Applications
By Distribution Channel:
- Business to Business (B2B)
- Business to consumer (B2C)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
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