Analysis of Key Market Segments Influencing the Fish Powder Market

The fish powder market is gaining momentum as demand rises for nutrient-rich and sustainable food ingredients. With expanding applications and increased investments in food technology, this sector is set for significant growth. Let's explore the current market size, key players, emerging trends, and the main segments shaping the future of fish powder.

Projected Expansion of the Fish Powder Market by 2030
The fish powder market is poised for remarkable growth, expected to reach a valuation of $12.9 billion by 2030. This expansion reflects a compound annual growth rate (CAGR) of 6.6%. Several factors contribute to this positive outlook, including heightened consumer interest in micronutrient-fortified foods and a greater emphasis on sustainable protein sources. Additionally, the broadening use of fish powder in functional foods, increased investments in food processing infrastructure, and stronger regulatory support for nutritional fortification are fueling market growth. Notable trends during this period include the growing use of fish by-products for powder production, rising demand for protein-rich supplements, widespread adoption of nutrient fortification in everyday foods, development of low-odor fish powder processing methods, and a sharpened focus on food safety and quality standards.

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Leading Companies Shaping the Fish Powder Industry
Prominent players steering the fish powder market include Austevoll Seafood ASA, Omega Protein Corporation, Daybrook Fisheries Inc., Kodiak Fishmeal Company, Pesquera Exalmar SAA, Pesquera Hayduk S.A., Austral Group SAA, Oceana Group Limited, Dalian Longyuan Fish Meal Co. Ltd., Pelagia AS, Scanbio Marine Group AS, TripleNine Group A/S, FF Skagen A/S, Havsbrún, Norebo Holding AS, Novofood SA, Sopropêche, TASA, Copeinca, China Fishery Group, Pesquera Diamante, and Pesquera Centinela.

In a recent development from May 2023, US agribusiness company Scoular acquired a frozen fish processing facility from Northwest Farm Food Cooperative. This strategic move aims to strengthen and expand Scoular's pet nutrition segment. The facility will convert fish trimmings into frozen fish ingredients specifically designed for pet food and treat manufacturers, enhancing product quality while supporting sustainable sourcing.

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Sustainability and Innovation Driving Fish Powder Trends
Sustainability is becoming a focal point within the fish powder market as companies explore eco-friendly feed options. One notable innovation is NaturAlgae, a sustainable and nutritious feed ingredient designed for aquaculture. NaturAlgae is a dry omega-3 powder boasting a density of 1.28 g/cm3 and rich in DHA and other beneficial oils.

A prime example is the UK-based MiAlgae, which in April 2023 introduced NaturAlgae as a new omega-3 powder feed ingredient. Using advanced biotechnology, MiAlgae repurposes by-products from the Scotch whisky industry to cultivate microalgae enriched with omega-3. This method offers a sustainable alternative to traditional omega-3 sources derived from wild-caught fish. By adopting this approach, MiAlgae aims to reduce global dependence on wild fish, lower CO2 emissions, recycle millions of liters of water, and conserve vital fish stocks.

Breakdown of Key Segments in the Fish Powder Market
This report categorizes the fish powder market into distinct segments based on type, distribution channel, application, and end-user.

By type, the market is divided into Steam Dried (SD) Fish Powder and Flame Dried (FD) Fish Powder. The steam dried category further breaks down into High-Protein Steam Dried Powder and Low-Odor Steam Dried Powder. The flame dried category includes Traditional Flame Dried Powder and High-Temperature Flame Dried Powder.

Distribution channels consist of B2B and B2C markets. Application areas cover swine, poultry, aquaculture, and other sectors. End-users of fish powder include the food and beverage industry, sports nutrition and dietary supplements, and various animal feed markets.

This segmentation highlights the diverse ways fish powder is produced, marketed, and utilized, demonstrating its versatile role in nutrition and feed industries.

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This release was published on openPR.