Fish Powder Global Market Report 2023
Major players in the fish powder market are Austevoll Seafood ASA (Laco AS), Omega Protein Corporation, Daybrook Fisheries, Austral, Cermaq, Kodiak Fishmeal, Exalmar, Nissui, HAYDUK, Chishan Group, Oceana Group, Dalian Longyuan Fishmeal, Zhejiang FengYu Halobios, FMC Corporation,
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fish Powder Global Market Report 2023" - https://www.reportlinker.com/p06284380/?utm_source=GNW
The global fish powder market grew from $7.69 billion in 2022 to $8.28 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The fish powder market is expected to grow to $10.75 billion in 2027 at a CAGR of 6.7%.
The fish powder market consists of sales of fish protein concentrate, fish albumin, glue, gelatin.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Fish powder refer to the finely ground powder formed from cooked fish flesh. Fish powder prepared from leftover fish can be used to supplement staple foods including maize and cassava, increasing micronutrient concentrations in the meal.
Asia-Pacific was the largest region in the fish powder market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in the fish powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of fish powders are steam-dried and flame-dried fish powders.Flame dried fish meal is produced using the shortest rotary dryer, known as a direct hot air dryer or flame dryer, which is employed in the manufacturing of about 75% of the world’s fish meal.
The different sources include whole fish and by-products and are used in swine, poultry, aquaculture, and other applications. The end-users include food and beverages, sports nutrition and dietary supplements, cosmetics and personal care, pharmaceuticals, animal feed, and others, and are distributed through business to business (B2B) and business to customer (B2C) sales channels.
The rise in the production of functional foods is significantly driving the growth of the fish powder market.Functional foods are frequently chosen because they provide numerous health benefits and are healthy.
Fish powder is an important functional food since it provides calcium, antihypertensive proteins, and antioxidants. For instance, according to the Institute of Food Technologists (IFT), a US-based non-profit scientific society, the sales of functional foods and beverages in the United States reached $83 billion in 2021, a 6.8% increase over 2020. Therefore, the increasing production of functional foods is expected to drive the growth of the fish powder market going forward.
Technological advancements are shaping the fish powder market.The key players in the fish powder market are indulging in adopting various technological advancements to strengthen their position in the market.
For instance, in January 2022, Cermaq Canada Ltd., a Canada-based salmon farming company, adopted aeration technology supplied by Poseidon Ocean Systems. Cermaq Canada has reported that a new aeration technology supplied by Poseidon Ocean Systems has helped them eliminate over 76,000 kg of CO2 emissions from their operations in 2021.
In November 2020, PAI Partners, a France-based private equity firm, acquired a majority stake in Angulas Aguinaga for an undisclosed amount.Through this acquisition, PAI intends to expedite the company’s new strategic business plan, assist in the expansion of product offerings through the launch of new categories, and assist in the company’s commitment to internationalization, with a focus on France and Italy.
Angular Aguinaga is a Spain-based company that produces frozen seafood products, including fish powder.
The countries covered in the fish powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fish powder market research report is one of a series of new reports that provides fish powder market statistics, including global market size, regional shares, competitors with a fish powder market share, detailed fish powder market segments, market trends and opportunities, and any further data you may need to thrive in the fish powder industry. This fish powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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