Fish Powder Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3799
Fish Powder Market size may see an extensive growth during the foreseeable timeframe. Rapid growth in poultry and aquaculture industries owing to increasing meat and fish consumption may fuel the overall product market. Increasing product adoption for livestock feed owing to its low price and high nutritional value may foster the industry growth.
Fish powder also known as fish meal is a powder obtained by drying and grinding fishes that are not generally used for human consumption. It is manufactured from wild caught and small marine fishes including anchovy, capelin, sand eel, sardine, pilchard and horse mackerel. It is also manufactured from offal and bones obtained as residuals after processing fishes used for human consumption.
It is used as livestock feed for poultry animals and fish owing to its high protein concentration. It is primarily used in aquaculture owing to its excellent amino acid balance and high protein content which made it ideal food for aquatic animals. Global aquaculture market size accounted at over USD 4 billion in 2018 owing to rising trend for fish consumption and increasing population are the key factors which are likely to drive fish powder market growth.
Growth in swine industry owing to increased demand for pork may foster the market size. Fish powder is widely used to feed swine owing to its high nutritional value. Global pork production was at over 120 million metric tons in 2018 owing to increasing population and disposable income which is likely to stimulate the overall industry demand. Fish powder is widely used in swine feed as it provides high protein content and a wide range of micronutrients including vitamins and amino acid. Fish oil present in it, also improves weaned pigs growth performance thereby stimulating the overall industry growth.
Fish protein powder is a dried stable fish product in which protein concentration is more than that of the fish flesh. It is a food grade version of fish powder fit for human consumption. Fish powder is purified and processed to make it suitable to be utilized as functional food. Global market of functional foods may surpass USD 400 billion by the year 2022 owing to rising awareness for fortified and functional food which may stimulate the product demand. Fish protein powder aids in weight management and muscle growth owing to its high protein concentration thereby driving the industrial growth.
A significant amount of fishmeal is produced by fish processing byproducts as it reduces byproduct waste. Stringent regulations in European countries to restrict the use of animal byproduct to feed similar species may act as a constraint in the fish powder market.
North America, driven by Canada, Mexico and the U.S. fish powder market size is expected to achieve significant growth by the year 2025. Rising trend for fitness and muscle building owing to increasing number of gyms and fitness center may drive the market size. In 2018, U.S. protein powder market size accounted at over USD 4 billion owing to growing consumption of dietary supplements which should stimulate product adoption. Fish protein powder is used as food supplement owing to its high nutritional content and ability to cure irritable bowel syndrome (IBS) thus driving the regional industry demand.
Europe driven by Spain, Italy, France, UK and Germany fish powder market demand may see substantial growth during the forecasted time period. Booming aquaculture industry owing to rising consumption of fish such as salmon, cod, tuna, shrimps and Alaska Pollock should drive overall market demand. In 2018, regional fish and sea food consumption was approximately 25 kg per capita owing to increased fish landings which is likely to boost market growth. Fish powder is widely used to feed fish owing to its high vitamins and micronutrients content. Fish oil present in the product also contains omega-3 fatty acids like DHA and EPA which are beneficial for the overall growth of fish thereby fostering regional growth.
Asia Pacific led by India, Japan, South Korea, Thailand and China fish powder market size is likely to see surge in demand during the forecasted period. Growth in poultry and pig farming industry owing to increasing demand for pork and meat is likely to drive the overall industry. In 2018, China produced more than 50 million metric tons of pork. The product is used to feed swine and poultry animals as it is easily digestible and improves feed conversion ratio of poultry and young pigs. It provides high concentration and protein and other micronutrients which have a positive impact on the overall growth of poultry and farm animals thereby driving fish powder market size.
Global fish powder market share is highly fragmented and includes manufacturers like Oceana Group, Austevoll Seafood ASA, Blue Line Foods, Wudi Deda Agriculture, and Omega Protein Corporation. Companies are looking for mergers, acquisitions and joint ventures to achieve market expansion.
Fish Powder Market, By Source, 2014-2025 (Tons) (USD Million)
- Whole Fish
- Fish byproducts
Fish Powder Market, By Application, 2014-2025 (Tons) (USD Million)
- Food supplement
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Oceana Group
- Austevoll Seafood ASA
- Blue line foods
- Wudi Deda Agriculture
- Omega Protein Corporation
- Aksha Fish Meal and Oil
- Diamond Aqua Fishes Meal
- Daybrook Fisheries
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