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.
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.
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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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