Fish Powder Market: Global Industry Analysis And Forecast (2022-2029)

Fish Powder Market size was valued at US$ 7.88 Bn. in 2021 and the total Fish Powder revenue is expected to grow by 6.8% from 2022 to 2029, reaching nearly US$ 13.34 Bn.
Fish Powder Market Overview:
A product generated by drying and grinding or otherwise processing fish or fish waste with no other substance added is referred to as fish meal or fish powder. The term "white fish meal" refers to a product made from white fish or white fish waste such as filleting offal that contains no more than 6% oil and no more than 4% salt. Fish meal is a solid product made by extracting the majority of the water and part or all of the oil from fish or fish waste. Fish meal is marketed as a powder and is mostly used in compound feeds for chickens, pigs, and farmed fish; it is far too precious to be used as a fertilizer.



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The report explores the Fish Powder market's segments (Product Type, Source, Species, Distribution Channel, End-user, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Fish Powder market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Fish Powder market's contemporary competitive scenario.
Fish Powder Market Dynamics:
The growing demand for pellet feed is a key driver for the fish powder market.

Fish feed is a significant expense for fish farmers. Good fish feed management lower overall culture costs, enhance the fish farm environment and assure healthy stock growth. Fish feed management includes selecting the right feed, using the right feeding method, calculating feeding expenses, and keeping the fish farm as cost-effective as possible. Pellet feed is the most important factor in increasing the growth and development of cultivated biota. The feed has an important role as a source of energy for body maintenance, fish growth, and reproduction. Because it contains 64% protein, fish meal is the most often utilized raw material as a protein source in synthetic feed. Due to these factors, the growing demand for pellet feed drives the market growth.

A major driver of market growth is that fish powder can be used as a good nutritional source for animals.

In animal production systems, good nutrition is critical to the economical production of a healthy, high-quality output. Nutrition is crucial in fish farming (aquaculture) since feed accounts for almost half of the variable production cost. Fish nutrition has advanced significantly in recent years, with the creation of new, balanced commercial diets that promote optimal fish growth and health. The formation of novel species-specific diet formulas helps the aquaculture business grow to meet the rising demand for affordable, safe, high-quality seafood products.

The fish powder is a good source of protein for human consumption.

Fish powder provides protein that is acceptable for human consumption, as well as an active concentration of mineral content. Besides that, the fish powder may be used as a functional element, making it appropriate as a ready-to-eat meal. Nutritionists define fishmeal as a high-quality, highly digestible feed component that is preferred for inclusion in the diets of most agricultural animals, particularly fish and shrimp. Fishmeal has a high caloric density per unit weight and is a great source of protein, lipids (oils), minerals, and vitamins; it has relatively little carbohydrate.

Developing nations export so much of their fish populations that they are deficient in basic nutrients.

Growing populations in developing countries and a growing taste for fish in many developed countries led at the same time to a great increase in demand which, being increasingly hard to meet, is causing fish prices to increase more rapidly than that of most other foodstuffs. This has also led to increasing export of fish from developing to developed countries, thus reducing access to the poor of many developing countries of a previously cheap source of animal protein. Much of the fish on European shop shelves come from underdeveloped nations that can export more than 90% of their harvest.

The growing use of fish meal substitutes restricts the growth of the fish meal market.

With the advent of plant-based diets and increased consumer awareness of the environmental effect of fishing, several businesses are producing a wide range of fish substitutes. Plant-based fish sticks, fishcakes, and even scampi and shrimp are among them. These items are made using a variety of substances such as wheat gluten, soy, or jackfruit. The leading organizations may also utilize artificial flavorings or natural foods such as seaweed to simulate the taste of fish. Additionally, some people may have a fish allergy or have health concerns about eating fish because of the presence of mercury Trusted Source or plasticsTrusted Source in some seafood. Some people may also refrain from eating certain types of fish or seafood for religious reasons.

The increasing prices of fish meals are a key restraining factor for the market.

The problem occurred because the price of synthetic feed, which is commonly utilized by fish growers, tends to increase. As a result, present cultivation firms are inefficient since feed production prices continue to rise. This issue is caused by the feed industry's restrictions on utilizing local raw resources for fish feed. The statistics reveal that the feed business is still significantly reliant on imported feed raw resources, particularly fish meal.
Fish Powder Market Segment Analysis:
By Source, the Whole Fish segment held the largest market share of xx% in 2021 and is expected to continue its dominance at the end of the forecast period. Capture fisheries are designed to collect fish as well as prawns, lobsters, crabs, sea cucumbers, whales, pearl oysters, edible bivalve, and a variety of other species other than fish. The growth of the frozen food and fishery sectors, as well as technological advances like as horizontal wrapper packaging and spiral freezers, are expected to drive the growth of the market. By-Product segment, the increased production of by-products from fisheries is anticipated to drive growth during the forecast period. Fish by-product powders can be added to cereals, rice, maize, and wheat, as well as tubers like cassava.



By End-User, Because of the increase in aquaculture production, the aquaculture segment held the greatest share of the fish powder market in 2021, accounting for over half of the total market. The growing need for seafood is driving the growth of the aquaculture segment. Fishmeal in aquatic animal diets helps to reduce contamination from wastewater effluent by improving nutrient digestion. Marine feed ingredients are scarce resources with rather consistent output during the last 10 years. The majority of fishmeal is utilized as a high protein (60-72%) ingredient in aquaculture and farm animal feed. Fish oil is primarily utilized in the feed of farmed marine fish as well as for human consumption. The composition of feed has evolved significantly over the previous decades to suit an ever-increasing demand for fishmeal and fish oil from the aquaculture sector, particularly from the farming of marine species. While it used to be largely constructed of marine materials, it now contains a significant amount of plant elements. The demand for aquaculture to increase fishmeal usage efficiency reflects the rising rivalry for fishmeal on global animal feed markets between aquaculture and livestock farmers.

Given the large and ongoing development of aquaculture anticipated for the next years, the total amount of fishmeal used in aquaculture will almost certainly increase. With higher feed prices, only feed-efficient and high-valued aquaculture products will be profitable.
Fish Powder Market Regional Insights:
The Asia Pacific is the market leader in the fish meal or fish powder market followed by North America. The Asia-Pacific market is expected to grow at the highest CAGR of xx% at the end of the forecast period. The increase is due to increased health awareness among the region's younger populations in various countries. The increase of medical enterprises that use fish powder as a key ingredient in their medications is also one of the major factors supporting Asia - pacific region to dominate the global fish powder market throughout the projected period. Additionally, The Demand is also expected to increase because of increased aqua feed production in the country. Domestic consumption and exports both drive seafood demand in the Asia Pacific region. Seafood is an important part of the diets of many Asian countries, including China, Vietnam, Malaysia, Japan, and others. Rising earnings and more health consciousness are driving a shift in the region's food preferences away from a high carbohydrate-based diet and toward one rich in proteins. This has increased the consumption of protein sources such as fish and meat.



The European market had the highest market share of about xx% in 2021 and is expected to grow significantly owing to the high growth in the fish powder market. The increased consumption of regional fish and seafood has paved the path for significant growth in the aquaculture sector. The growing number of fitness enthusiasts has enhanced the use of protein-enriched foods. Additionally, growing fish landings in the region will increase market potential. Consumer perception and interest in alternative proteins are increasing. For years, fish powder has been a primary source of protein in developed countries, and there has been a rise in demand for traditional protein in emerging areas. However, changing consumer behavior and interest in other protein sources, driven in part by health and environmental concerns as well as animal welfare, have created opportunities for growth in the fish powder market.

The objective of the report is to present a comprehensive analysis of the Fish Powder market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Fish Powder market dynamics, and structure by analyzing the market segments and projecting the Fish Powder market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Fish Powder market make the report investor’s guide.
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Global Fish Powder Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 7.88 Bn.


Forecast Period 2022 to 2029 CAGR:
6.8 %
Market Size in 2029:
US $ 13.34 Bn.


 Segments Covered:
by Product Type
• Fish Meal Powder
• Fish Protein Powder


by Source
• Whole Fish
• By-Product


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


by Distribution Channel
• B2B
• B2C
o Store-based retailing
o Online Retailing


by End-user
• Aquaculture
• Animal Feed
• Poultry
• Sports Nutrition & Dietary Supplements
• Cosmetics & Personal Care
• Pharmaceuticals
• Fertilizers



Fish Powder Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Fish Powder Market Key Players
• Daybrook Fisheries, Inc.
• Akash Fish Meal and Oil Pvt Ltd.
• Mexican Seafood Co.
• Mclarnon & Sons Limited
• Austevoll Seafood ASA
• Bio-marine Ingredients Ireland Ltd.
• Biomega AS
• Bio-Oregon Protein, Inc.
• Empresas Copec S.A.
• Oceana Group Limited S.A.
• Omega Protein Corporation
• Pesquera Diamante S.A.
• Sardina D.O.O.
• Scanbio Marine Group AS
• Others

FAQs:

1. Which is the potential market for Fish Powder in terms of the region?
Ans. In APAC region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Fish Powders in educational institutes

3. What is expected to drive the growth of the Fish Powder market in the forecast period?
Ans. A major driver in the Fish Powder market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Fish Powder Market?
Ans. Fish Powder Market size was valued at US$ 7.88 Bn. in 2021 and the total Fish Powder revenue is expected to grow at 6.8% from 2022 to 2029, reaching nearly US$ 13.34 Bn.

5. What segments are covered in the Fish Powder Market report?
Ans. The segments covered are Product Type, Source, Species, Distribution Channel, End-user, and Region.