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Global Fish Powder Market Report 2024 Analysis And Forecast To 2033 | Major Key Players, Trends, Business Overview, And Competitive Analysis
Fish Powder Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Fish Powder industry. This report on Fish Powder market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fish powder market size has grown strongly in recent years. It will grow from $8.22 billion in 2023 to $8.82 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increased consumer awareness of the nutritional benefits of fish, growth in demand for protein-rich and functional food ingredients, rise in health consciousness and preference for natural ingredients, expansion of aquaculture and fisheries industries, need for sustainable and eco-friendly food sources, demand for fish powder in animal feed and pet food industries.
The fish powder market size is expected to see strong growth in the next few years. It will grow to $11.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to adoption of fish powder as a flavor enhancer and natural umami ingredient, emphasis on waste reduction and utilization of fish by-products, need for omega-3 fatty acids and essential micronutrients in diets, expansion of fish powder in cosmetic and personal care products, growing demand for fish protein in sports and fitness nutrition. Major trends in the forecast period include microencapsulation of fish powder, clean label and natural processing, innovative packaging solutions, powdered fish oil and omega-3 supplements, fortification of food and beverages.
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Key Market Players:
Austevoll Seafood ASA, Omega Protein Corporation, Daybrook Fisheries Inc., Cermaq Group AS, Kodiak Fishmeal Company, Pesquera Exalmar SAA, Nissui Corporation, Pesquera Hayduk S.A., Oceana Group Limited are prominent players in the Fish Powder industry.
Market Drivers:
According to the Fish Powder Market Report 2023 by The Business Research Company, the key factors driving the growth of the Fish Powder market, includes 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.
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Market segments for Fish Powder include:
1) By Source: Whole Fish, By-Product
2) By Type: Steam Dried (SD) Fish Powder, Flame Dried (FD) Fish Powder
3) By Distribution Channel: B2B, B2C
4) By Application: Swine, Poultry, Aquaculture, Other Applications
5) By End-User: Food And Beverages, Sports Nutrition and Dietary Supplements, Cosmetics and Personal Care, Pharmaceuticals, Animal Feed, Fertilizer
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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