Global Fish Powder Market: Overview
Fish powder is made by the combination of oily fishes and white fish’s offal. The global fish powder market is expected to witness a robust growth in the forecast period of 2018 to 2026. The growth of market is majorly driven by the rising awareness among the users regarding the use of fortified food items. On the other hand, the rising production of functional food items is also expected to influence the growth of global fish powder market. The global market for fish powder is also projected to grow as a result of rising application of various fishes such as hose mackerel, capelin, and anchovy in the production fish powder. Moreover the growth majorly depend on the variety of fishes used during the production of the fish powder.
Experts at Transparency Market Research have curated a detailed report about global fish powder market. The report provides in-depth analysis of various facets of the market. It covers factors such as key developments in the market, major growth factors, and business opportunities for the players, and regional analysis of global fish powder market.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report here
Global Fish Powder Market: Notable Developments
The global fish powder market is highly fragmented and competitive in nature. The market is dominated by the activities of some of the prominent players. These players pose a great challenge for a new comer to establish itself in the market. To overcome these challenges, the new players are adopting strategies such as merger, collaborations, and partnerships. These strategies are allowing the new players to compete against well-established corporate giants in the global fish powder market.
On the other hand, the key players are focusing on product launches and heavy investments in the field of research and development. These steps provide much needed competitive edge to stay ahead of their rivals. With above mentioned factors, producers are also likely to focus on product launches and innovations catering to the poultry and swine applications.
In January 2018, Cargill inaugurated its fish powder mill with the investment of US$10 mn in India in order to manufacture the powder for tilapia and other warm water species. This was later acquired by Mulpuri foods and fish powder.
Some of the major players of global fish powder market are Oceana Group Limited, Austevoll Seafood ASA, FMC Corporation, Croda International Plc., and Omega Protein Corporation.
Global Fish Powder Market: Key Drivers
Incorporation of protein contents has made fish powder an essential element in healthcare products. The benefits of the products including efficiency along with high nutrition value is likely to accelerate the growth of global fish powder market. The formulation of fish powder in order to cater the rising trend of ready to eat meal is also aiding the growth of rise of fish powder market in the projected tenure. Various other health benefits such as better lever strength, hormonal balance, better eye sight, and strength development are also key growth factor for global fish powder market.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Fish Powder Market here
On the other hand, growing demand of using different fishes in many cuisines across the globe is one of the major factor that is prompting the global fish powder market 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 a major role in the growth of global fish powder market. Moreover, the requirement of various fishes in the production of fish powder is yet again a prominent factor to promote the growth of global fish powder market.
Global Fish Powder Market: Regional Analysis
Asia Pacific is likely to dominate the global fish powder market. The growth is attributed to the rising health awareness in the youth of various countries of the region. The growth of medical companies which are using fish powder as key ingredient in their medicines is also one of the prominent reason that is helping the Asia Pacific to lead the global fish powder market in the forecast period of 2018 to 2026.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.