Global Fish Powder Market Size to worth USD 16.10 Billion by 2033: Market Statistics Report

Global Fish Powder Market Size to worth USD 16.10 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Fish Powder Market Size is Expected to Grow from USD 8.55 Billion in 2023 to USD 16.10 Billion by 2033, at a CAGR of 6.53% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Fish Powder Market Size, Share, and COVID-19 Impact Analysis, By Source (Whole Fish and By-product), By Application (Swine, Aquaculture, Poultry, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.       

Fish powder is a fine, ground powder that originates from fish, which is usually obtained through drying and processing fish parts, including bones, muscles, and skin. It is very rich in protein, omega-3 fatty acids, and essential amino acids, therefore of use in a variety of industries. Fish powder is a high-protein additive used primarily in animal feed, especially in aquaculture, livestock, and pet foods. Its nutritional benefits and functional properties account for further applications in the food and beverage industry, as well as in pharmaceuticals and cosmetics. Furthermore, the market for fish powder is driven by increasing demand for sustainable and high-quality protein sources, especially in animal feed and aquaculture. With the global demand for seafood on the rise and the ever-increasing need for efficient and nutritious animal feed, fish powder plays a crucial role in ensuring optimal growth and health in farmed fish and livestock. Further, the increasing interest in natural, organic, and functional ingredients in food and health products increases the uptake of fish powder. Additionally, the growing health benefits associated with omega-3 fatty acids help to increase demand further. However, the market faces challenges such as fluctuations in fish supply due to overfishing concerns and environmental regulations.

The by-products segment is predicted to hold the greatest market share through the forecast period.

Based on the source, the fish powder market is classified into whole fish and by-products. Among these, the by-products segment is predicted to hold the greatest market share through the forecast period. By-products, which include fish parts such as bones, scales, and skin, are typically used to produce fish powder. These parts are often considered waste in the fishing industry but are increasingly being utilized as a valuable resource for fish powder production due to their high nutritional content, particularly in protein and omega-3 fatty acids.

The aquaculture segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the application, the fish powder market is divided into swine, aquaculture, poultry, and others, pharmaceuticals, fragrances, and others. Among these, the aquaculture segment is anticipated to hold the greatest market share during the projected timeframe. This is primarily due to the increasing demand for high-quality, nutritious feed in the rapidly expanding aquaculture industry. Fish powder is a highly effective source of protein and essential fatty acids, which are crucial for the optimal growth and health of farmed fish. As global seafood consumption rises and the aquaculture industry continues to expand, the need for efficient and cost-effective feed ingredients, such as fish powder, grows significantly.

Asia-Pacific is estimated to hold the largest fish powder market share over the forecast period.

Asia-Pacific is estimated to hold the largest fish powder market share over the forecast period. The growing production of aquafeed in the region and the well-established fishery industry in economies such as India, Japan, and China have helped enhance market growth. According to the 2024 edition of 'The State of World Fisheries and Aquaculture (SOFIA),' Asia accounted for around 75% of the global fisheries and aquaculture production, which indicates promising expansion opportunities for this business.

Latin America is predicted to have the fastest CAGR growth in the fish powder market over the forecast period. The region has an extensive coastline, especially across the major economies of Brazil, Argentina, Chile, and Peru, which has seen significant growth in its marine and fisheries business. The existence of several well-established companies, such as Austral Group, Copeinca, and TASA, has raised competition in the market, leading to the introduction of more sophisticated products in this sector. Fish powder is highly used in aquaculture feed as a rich source of protein to promote fish growth and improve feed quality.

Company Profiling

Major key players in the fish powder market are Oceana Group Limited, Austevoll Seafood ASA, Pelagia AS, Croda International Plc, Omega Protein Corporation, Marvesa, TASA, GC Rieber VivoMega AS, The Scoular Company, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the fish powder market based on the below-mentioned segments:

Global Fish Powder Market, By Source

• Whole Fish
• By-product

Global Fish Powder Market, By Application

• Swine
• Aquaculture
• Poultry
• Others

Global Fish Powder Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa