Major fish powder manufacturers are focusing on strategic acquisition efforts to expand global footprint and product portfolios, to leverage competitive benefits.
DUBAI, UAE / ACCESSWIRE / April 16, 2020 / The global fish powder market will expand at 6% through 2029. According to a new study by Future Market Insights (FMI), the market for fish powder is largely influenced by increasing applications as an ingredient in processed and convenience food products. Rising consumer demand for nutrition rich foods has bolstered consumption rates, driving market growth.
"Major players will focus on horizontal integration to minimize issues associated with quantity and quality of raw materials. In addition, new players in the fish powder market will focus innovations in processing technologies," reveals the FMI report.
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Key Research Findings
- Animal feed applications will remain a highly preferred end use category through the forecast period.
- Fish meal powder will remain a preferred variant through the forecast period accounting for 96% of the overall revenue.
- B2B will remain a leading distribution channel, while B2C options will display a higher CAGR.
- The Europe market will hold a major market share through the end of the forecast period, particularly for the EU-4 region.
Key Growth Drivers
- Acquisition of regional manufacturers by market leaders plays a major role in the growth of market.
- Introduction of innovative development centers, and a larger number of production facilities contributes to the global footprint of manufacturers.
- Extensive efforts to improve their distribution base is a major area contributing to market growth.
- The development of new technologies associated with fish processing applications will be a major influencer.
Key Impediments
- The fish powder market is facing increasing challenges owing to rising environmental concerns, and the impact of excessive fishing on oceans for the production of fish powder products.
The Coronavirus Effect
With the coronavirus outbreak, having become a global pandemic, international seafood trade has been hit very hard, as restrictions on the fishing industry have minimized the yield and production from the industry. In addition, the global demand for seafood from restaurants and the hospitality industry has dropped dramatically.
These factors are anticipated to have restrictive effect on the global fish powder market. However, the reduced perishability of fish powder, will help in mitigating losses, as the global industry slows down for the coming months. China continues to move towards recovery, generating opportunities towards moving back to normalcy.
Explore the complete fish powder market report with 74 illustrative figures, 64 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-7820
Competition Structure Analysis - Fish Powder Market
The competition landscape of fish powder market remains fragmented and competitive. Key producers are also pushing for the acquisition of smaller businesses to widen their product portfolios, and to increase regional market penetration.
Some of the key players in the fish powder market include, but are not limited to Symrise AG, Omega Protein Corporation, Colpex International S.A.C., Bio-marine Ingredients Ireland Ltd., Austevoll Seafood ASA, Scanbio Marine Group A/S, Pesquera Diamante S.A., TripleNine Group A/S, Sardina D.O.O, Sopropeche S.A., Biomega A/S, Alaska Protein Recovery LLC, Titan Biotech Ltd., and Empresas Copec S.A., among others .
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About the Report
This report offers global, regional, and national level analysis on the latest trends in the industry influencing the fish powder market. The study provides actionable insights on the fish powder market on the basis of product type (fish meal powder and fish protein powder), end user (food & beverages, sports nutrition & dietary supplements, cosmetics & personal care, pharmaceuticals, animal feed, and fertilizers), and distribution channel (B2B and B2C) across 30 countries spanning seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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Report: https://www.futuremarketinsights.com/reports/fish-powder-market
Press Release Source: https://www.futuremarketinsights.com/press-release/fish-powder-market
SOURCE: Future Market Insights
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