November, 2024
Fish powder is mainly made up of fish meal, fish protein concentrates, or hydrolyzed fish proteins. It is majorly used in a variety of applications like food, pet food, animal feed and aquaculture. The continued expansion of global aquaculture, including growing demand for protein in livestock farming, are the major driving factor for the fish powder market.
The increasing demand for seafood worldwide due to the global increase in population and increasing seafood consumption has majorly impacted the market's growth. There is also growing demand for omega-3-rich fish products, which is further driving the market to a significant level. To reduce waste and improve the utilization of resources, there is a growing trend in sourcing this product from sustainably managed fisheries. However, restraining factors like supply chain disruptions, lack of nutritional content in chemically treated fish powder, and competitiveness in the market may hamper the market's growth.
Although, with the help of better processing techniques fish powder can be customized for particular farmed fish species which improves growth rates and feed conversion efficiency, which further helps positively shape the fish powder market on a global scale.
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