Global Fish Powder Market: Overview
Fishpowder is made by the combination of oily fishes and white fish’s offal. Theglobal fish powder market is expected to witness a robust growth in theforecast period of 2018 to 2026. The growth of market is majorly driven by therising awareness among the users regarding the use of fortified food items. Onthe other hand, the rising production of functional food items is also expectedto influence the growth of global fish powder market. The global market forfish powder is also projected to grow as a result of rising application ofvarious fishes such as hose mackerel, capelin, and anchovy in the productionfish powder. Moreover the growth majorly depend on the variety of fishes usedduring the production of the fish powder.
Experts atTransparency Market Research have curated a detailed report about globalfish powder market. The report provides in-depth analysis of variousfacets of the market. It covers factors such as key developments in the market,major growth factors, and business opportunities for the players, and regionalanalysis of global fish powder market.
Global Fish Powder Market: NotableDevelopments
The globalfish powder market is highly fragmented and competitive in nature. The marketis dominated by the activities of some of the prominent players. These playerspose a great challenge for a new comer to establish itself in the market. Toovercome these challenges, the new players are adopting strategies such asmerger, collaborations, and partnerships. These strategies are allowing the newplayers to compete against well-established corporate giants in the global fishpowder market.
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On theother hand, the key players are focusing on product launches and heavyinvestments in the field of research and development. These steps provide muchneeded competitive edge to stay ahead of their rivals. With above mentionedfactors, producers are also likely to focus on product launches and innovationscatering to the poultry and swine applications.
In January2018, Cargill inaugurated its fish powder mill with the investment of US$10 mnin India in order to manufacture the powder for tilapia and other warm waterspecies. This was later acquired by Mulpuri foods and fish powder.
Some ofthe major players of global fish powder market are Oceana Group Limited,Austevoll Seafood ASA, FMC Corporation, Croda International Plc., and OmegaProtein Corporation.
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Global Fish Powder Market: KeyDrivers
Incorporationof protein contents has made fish powder an essential element in healthcareproducts. The benefits of the products including efficiency along with highnutrition value is likely to accelerate the growth of global fish powdermarket. The formulation of fish powder in order to cater the rising trend ofready to eat meal is also aiding the growth of rise of fish powder market inthe projected tenure. Various other health benefits such as better leverstrength, hormonal balance, better eye sight, and strength development are alsokey growth factor for global fish powder market.
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On theother hand, growing demand of using different fishes in many cuisines acrossthe globe is one of the major factor that is prompting the global fish powdermarket 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 amajor role in the growth of global fish powder market. Moreover, therequirement of various fishes in the production of fish powder is yet again aprominent factor to promote the growth of global fish powder market.
Global Fish Powder Market: RegionalAnalysis
AsiaPacific is likely to dominate the global fish powder market. The growth isattributed to the rising health awareness in the youth of various countries ofthe region. The growth of medical companies which are using fish powder as keyingredient in their medicines is also one of the prominent reason that ishelping the Asia Pacific to lead the global fish powder market in the forecastperiod of 2018 to 2026.
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