Global Fish Powder Market: Overview
Fish powder is made by the combination of oily fishes and white fish’s offal. The global fish powder market is expected to witness a robust growth in the forecast period of 2018 to 2026. The growth of market is majorly driven by the rising awareness among the users regarding the use of fortified food items. On the other hand, the rising production of functional food items is also expected to influence the growth of global fish powder market. The global market for fish powder is also projected to grow as a result of rising application of various fishes such as hose mackerel, capelin, and anchovy in the production fish powder. Moreover the growth majorly depend on the variety of fishes used during the production of the fish powder.
Experts at Transparency Market Research have curated a detailed report about global fish powder market. The report provides in-depth analysis of various facets of the market. It covers factors such as key developments in the market, major growth factors, and business opportunities for the players, and regional analysis of global fish powder market.
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Global Fish Powder Market: Notable Developments
The global fish powder market is highly fragmented and competitive in nature. The market is dominated by the activities of some of the prominent players. These players pose a great challenge for a new comer to establish itself in the market. To overcome these challenges, the new players are adopting strategies such as merger, collaborations, and partnerships. These strategies are allowing the new players to compete against well-established corporate giants in the global fish powder market.
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On the other hand, the key players are focusing on product launches and heavy investments in the field of research and development. These steps provide much needed competitive edge to stay ahead of their rivals. With above mentioned factors, producers are also likely to focus on product launches and innovations catering to the poultry and swine applications.
In January 2018, Cargill inaugurated its fish powder mill with the investment of US$10 mn in India in order to manufacture the powder for tilapia and other warm water species. This was later acquired by Mulpuri foods and fish powder.
Some of the major players of global fish powder market are Oceana Group Limited, Austevoll Seafood ASA, FMC Corporation, Croda International Plc., and Omega Protein Corporation.
Global Fish Powder Market: Key Drivers
Incorporation of protein contents has made fish powder an essential element in healthcare products. The benefits of the products including efficiency along with high nutrition value is likely to accelerate the growth of global fish powder market. The formulation of fish powder in order to cater the rising trend of ready to eat meal is also aiding the growth of rise of fish powder market in the projected tenure. Various other health benefits such as better lever strength, hormonal balance, better eye sight, and strength development are also key growth factor for global fish powder market.
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On the other hand, growing demand of using different fishes in many cuisines across the globe is one of the major factor that is prompting the global fish powder market to grow exponentially in the forecast period of 2018 to 2026. Introduction of fishes such as anchovy, horse mackerel, capeline, menhaden, sand eel, and pilchard for the production of fish powder is expected to play a major role in the growth of global fish powder market. Moreover, the requirement of various fishes in the production of fish powder is yet again a prominent factor to promote the growth of global fish powder market.
Global Fish Powder Market: Regional Analysis
Asia Pacific is likely to dominate the global fish powder market. The growth is attributed to the rising health awareness in the youth of various countries of the region. The growth of medical companies which are using fish powder as key ingredient in their medicines is also one of the prominent reason that is helping the Asia Pacific to lead the global fish powder market in the forecast period of 2018 to 2026.
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December 30, 2019 at 03:45PM
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Fish Powder Market: Understanding the Key Product Segments and their Future 2018 – 2026 - Filmi Baba
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