Market Outlook Rising awareness regarding the use of fish powder for the fortification of food and production of functional foods has stimulated the food industry to investigate different methods for the development of fish powder from varied fish categories. Fish powder is a product obtained by drying and grating a fish or by removing most of the water and some of the oil from the fish. Fish powder, also known as fish meal, finds a wide range of applications in compound feeds for pigs, farmed fish and poultry.
p>Another type of fish powder that is intended for human consumption is fish protein powder, in which the protein is more concentrated than in the original fish flesh. Fish protein powder is used for developing ready-to-eat products in the food industry. Fish powder can be used as a functional constituent for the making of formulated ready-to-eat products. The fish powder market is driven by the growth of fisheries and the aquaculture industry.
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Growth of Global Aquaculture to Drive the Demand for Fish Powder:
Fish are the primary source of DHA and omega-3 fatty acids, which are renowned globally as key factors in human health. A significant and growing ratio of the yield from world fisheries is processed into Fish powder and fish oil, which is practically contributing to human consumption as they are used as feed in livestock and poultry raising. Fish powder is mainly produced from sustainably managed stocks of fish, for which there is a growing demand for human consumption. Fish protein powder is gaining acceptance as a functional ingredient in food applications. The demand for fish protein ingredients, including fish powder proteins, in the making of functional food and ready-to-eat products is growing across the world.
Global Fish Powder: Market Segmentation
On the basis of application, the global fish powder market has been segmented as:
On the basis of species, the global fish powder market has been segmented as:
On the basis of region, the global fish powder market has been segmented as:
Asia Pacific Excluding Japan
Global Fish Powder Market: Market Participants
Some of the key players operating in the global fish powder market are Daybrook Fisheries, Inc., Aksha Fish Meal and Oil, Mexican Seafood Co., Diamond Fishes, Madai Ltd., Lucky Star Metal Agricultural Co. Ltd., MC Machinery Co. Ltd., Thanh Ha Agriculture And Forest Product Processing And Export Co., Ltd, Salmon Club SRL, Polfish, G.E. Mclarnon & Sons Limited, Mega Tierernährung GmbH and La Romana Farine S.R.L., among others.
Opportunities for Market Participants in Fish Powder market Three different types of products are sold as fish powder – High Quality, for small-scale aquaculture units, Low Temperature, used in the rearing of piglets and salmon, Fair Average Quality, low protein feed for poultry and pigs. Attributing to the availability of such numerous options and growing concerns towards animal nutrition, the potential of the fish powder market is pegged to be significantly high. The increase in the consumption of poultry and bacon products is another factor driving the growth of the fish powder market.
Countries with strong presence of industrial fisheries are Norway, South Africa, and Peru. The prospect for growth of the fish powder market is increasing moderately in the countries mentioned above.
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In terms of consumption, APAC countries such as China and Korea are leading the fish powder market. Specifically, China has been steadily representing a major market for fish powder, primarily owing to its large aquaculture industry. The country accounted for more than 50% of the global farmed fish and seafood products in the past few years. So, the outlook for growth of the fish powder market in the APAC region is quite high.