QYR Consulting delivers important insights on global Fish Powder market in its published report titled, “Global Fish Powder Market Report, History and Forecast 2014-2025.” Fish powder is an exceptionally high protein feed ingredient primarily used in animal feed. It is prepared using fishes, which is not meant for human consumption. On the other hand, a small percentage of fish powder is prepared using the offal and bones leftover from processed fishes consumed by humans. Use of Fish Powder as a ready-to-eat product is anticipated to increase the demand during the forecast period of 6-years, i.e. between 2019 and 2025.
Global Fish Powder Market: Drivers and Restraints
Growing awareness about the benefits associated with the consumption of fortified food is projected to underpin the growth of the fish powder market globally. Manufacturers are foreseen to increase their sales with huge investments in different types of fish species used to produce the Fish Powder. It has been witnessed that fish Powder has a high demand in the food industry with rising functional food production. Fish Powder contains protein and mineral therefore sometimes it is used for human consumption.
There are many alternatives available in the market over Fish Powder, this could slow down the growth of the global Fish Powder market. Moreover, fluctuating prices and imbalanced demand and supply of raw materials could hamper the market growth.
Global Fish Powder Market: Segmental Analysis
The global Fish Powder market is segmented into three segments such as by packaging, by source, and by application. By source, the market is segmented into sea bass/bream, tilapia, salmon, sturgeon, cod fish, and Others. Among these sources, cod fish is anticipated to capture significant market share in the global Fish Powder market. By application, the market is segmented into feed industry, flavor industry, supplement industry, food industry, and Others. If the applications of Fish Powder are considered, the feed industry is forecasted to capture a healthy share in the global market. By packaging, the global Fish Powder market is segmented into plastic pouches, paper bags, and plastic containers. Among various packaging used to pack Fish Powder, Paper bags are foreseen to acquire the major market share in the global Fish-Powder market.
Global Fish Powder Market: Regional Analysis
Europe is prophesied to grab substantial market share in the global Fish Powder market. Europe has seen a prominent growth in the aquaculture industry and is expected to support Europe for rapid growth in the global Fish Powder market. Additionally, growing catchers and fisheries industries could help Europe for market expansion in the upcoming years. Apart from Europe, Asia-Pacific is prognosticated to grab a larger share in the global Fish Powder market due to aquafeed production. Asia-Pacific’s major consumption share in the feed industry is another factor increasing the demand for Fish Powder in the region.
Global Fish Powder Market: Key Players
Some of the top manufacturers functioning in the global Fish Powder market are Mexican Seafood Co., La Romana Farine S.R.L., G.E. McLarnon & Sons Limited, Daybrook Fisheries Inc., Lucky Star Metal Agricultural Co. Ltd., Madai Ltd., Diamond Fishes, Mega Tierernährung GmbH, Polfish, Thanh Ha Agriculture and Forest Product Processing and Export Co., Ltd., Aksha Fish Meal and Oil, Salmon Club SRL, and MC Machinery Co. Ltd.
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