The global fish powder market value is pegged to be almost USD 182.6 million in 2024. Demand for fish powder globally is set to witness a moderate CAGR of 6.6% during the forecast period. The global industry share is promising to achieve a market valuation of USD 303.1 million by 2034.
| Report Attribute | Details |
|---|---|
| Global Fish Powder Market Size (2024) | USD 182.6 million |
| Market Anticipated Forecast Value (2034) | USD 303.1 million |
| Market Projected Growth Rate (2024 to 2034) | 6.6% CAGR |
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The global fish-derived powder market was valued at USD 135.1 million in 2019. Demand for fish-derived powder products surged at an average CAGR of 5.2% between 2019 and 2023. The industry growth gained pace during this period with the rising demand for ready-to-eat meals with high-functioning ingredients.
During the period ranging from 2019 to 2023, emerging trends in the fish hydrolysate and fish-derived powder remained limited, attributed to the onset of the COVID-19 pandemic. This blip was gradually diluted since mid-2022, leading to higher sales of fish products that can be stored during such difficult times.
| Attributes | Details |
|---|---|
| Global Fish Powder Market Value (2019) | USD 135.1 million |
| Market Historical Growth Rate (CAGR 2019 to 2023) | 5.2% CAGR |
Principal Consultant
Fish protein powder (FPP) is a dried and stable fish product containing more protein than the original fish flesh resulting in its higher adoption worldwide. Fish products, including powder, have gained international attention as they are cheaper and can be used to address food security, especially in Africa and Asia having low nutritional diversification.
Moreover, its use for food fortification and the creation of value-added or functional meals has prompted the food industry to investigate several techniques for generating fish protein ingredients.
Government regulations to feed high-quality diets with high concentrations of critical nutrients are promoting the adoption of the product in the animal feed industry. Fishmeal is the preferred animal protein supplement in farm animal diets and is frequently the primary source of protein in fish and shrimp diets, thus fish-based powder is used in the animal feed industry.
Current market dynamics of fish meal and fish protein powder products suggest five countries listed below with lucrative growth opportunities for the industry participants.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 3.5% |
| Germany | 4.3% |
| Japan | 5.4% |
| China | 4.8% |
| India | 6.7% |
The United States fish powder market is set to witness a growth trend of 3.5% CAGR during the projected years.
The prevalence of animal-based convenience and ready-to-eat food items is projected to open new growth opportunities for the players in the United States as well as Canada. The United States is the world's second-largest consumer of seafood after China according to a report by Food and Agriculture Organization (FAO). This trend is projected to surge at a fast pace in the assessment period, thereby boosting the demand for fish-derived powder.
Growing demand for fish protein powder in the European market to drive production in Germany at a rate of 4.3% per year till 2034.
The fish protein powder market demand is projected to be influenced by higher production and consumption of functional foods in European countries. Besides, the rising popularity of sea fishes such as hose mackerel, capelin, and anchovy has increased their application in the German marine ingredients market. Moreover, with the growing poultry business in Europe, the fish feed industry's dependence on the powder market can increase substantially in the coming days.
The fish powder industry of China is advancing fast and is poised to follow a CAGR of 4.8% through the projected years.
Increased investment in the fishing sector is what is driving the regional fish-derived powder industry of China these days. The use of fish-derived ingredients for pet food production has also complemented the regional industry expansion in the last few years. The regional market is also witnessing higher demand from neighboring countries as it is more widely used in the livestock and aquaculture feed market
Fish powder in Japan to remain profitable with an estimated CAGR of 5.4% over the next ten years.
The increased consumption of fish and seafood has paved the path for significant expansion in Japan’s aquaculture business in turn promoting the seafood processing industry. Furthermore, the increasing number of fish caught in vast stretches of domestic seas is expected to increase the regional market potential.
Fish derived powder market in India is witnessing renewed vigor that could continue till 2034 with a lucrative CAGR of 6.7%.
In India, the prevalence of diseases requiring higher consumption of marine-based protein is boosting the demand for fish-derived powder in the country. For example, Hilsa fish which has high nutritional value as well as high lipid, is augmenting the demand for processed Hilsa fish in powder form. Furthermore, consumers now have the ease of shopping for products without any physical restrictions due to the availability of fish powder on e-commerce platforms.
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Based on species type, demand for powder made from anchovy fish is likely to garner 34.6% of revenue in 2024.
| Attributes | Details |
|---|---|
| Top Fish Species Type or Segment | Anchovy |
| Total Market Share in 2024 to 2034 | 34.6% |
Consumer demand for marine ingredients with good nutritional value that require minimal processing is a key factor for the higher use of anchovy species to make fish protein powder. However, low-value marine by-catch is gaining popularity as a fish protein concentration which is expected to increase the share of other fish species segments in the coming days.
Based on application, the animal feed industry sector consumes a greater portion with an estimated 64.5% market share in 2024.
| Attributes | Details |
|---|---|
| Top Application Segment | Animal Feed Industry |
| Total Market Share in 2024 | 34.6% |
Fishmeal is the preferred animal protein supplement in farm animal diets and is frequently the primary source of protein in fish and shrimp diets. Government regulations to feed high-quality diets with high concentrations of critical nutrients are promoting the adoption of the product in the animal feed industry.
To develop new technologies, established companies in the target market are undertaking numerous research and development efforts, particularly for finding new applications and products. To gain a significant market share, the leading firms concentrate on growing production and facilities. Apart from that, prominent businesses are forming strategic joint ventures and partnerships with other companies.
Recent Developments in the Global Fish Powder Market
In June 2023, Z Natural Foods, based in the United States, introduced its Hydrolyzed Marine Collagen peptide products in retail packets. Z Natural Foods, a leading supplier of high-quality natural foods in powder form, claims to have developed it from high-quality marine sources, including white fish (cod), to assure the greatest level of purity.
With its outstanding amino acid composition, this collagen powder can be easily absorbed by the body, replenishing and restoring the skin's natural collagen levels.
In June 2019, Cargill Incorporated, based in the United States, announced a partnership with InnovaFeed, a major French insect protein provider, to jointly commercialize fish feed including insect protein as part of its sustainable aquaculture portfolio.
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 182.6 million |
| Projected Market Size (2034) | USD 303.1 million |
| Anticipated Growth Rate (2024 to 2034) | 6.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Fish Species Type, By Application, By Product Type, By Distribution Channel, and By Region |
| Key Companies Profiled | Polfish and Oceana Group.; Aksha Fish Meal and Oil; Austevoll Seafood ASA (Laco AS); Omega Protein Corporation; FMC Corporation; Croda International Plc.; Oceana Group Limited; GC Rieber Oil; Rongcheng Hisheng Feed; Zhejiang FengYu Halobios |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global market is estimated to be around USD 182.6 million in 2024.
The global market is to grow at 6.6% during the forecast period.
The global market is predicted to be valued at USD 303.1 million by 2034.
The global market was valued at USD 135.1 million in 2019.
India is predicted to witness a CAGR of 6.7% in sales of fish powder through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Fish Species 5.1. Anchovy 5.2. Sand Eel 5.3. Horse Mackerel 5.4. Sardine 5.5. Pilchard 5.6. Hilsa 5.7. Others 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 6.1. Fish Protein Powder 6.2. Fish Meal Powder 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Animal Feed Industry 7.1.1. Swine 7.1.2. Poultry 7.1.3. Aquaculture 7.1.4. Others 7.2. Food Industry 7.3. Cosmetics and Personal Care 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Aksha Fish Meal and Oil 18.2. Austevoll Seafood ASA (Laco AS) 18.3. Omega Protein Corporation 18.4. FMC Corporation 18.5. Croda International Plc. 18.6. Oceana Group Limited 18.7. GC Rieber Oil 18.8. Rongcheng Hisheng Feed 18.9. Zhejiang FengYu Halobios 19. Assumptions & Acronyms Used 20. Research Methodology
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Fish Powder Market
