FISH POWDER MARKET DRIVEN BY RISING AWARENESS
Fish powder market driven by rising awareness regarding the use of fortified food items. 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 horse 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.
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.
In January 2018, Cargill inaugurated its fish powder mill with the investment of US$10m 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.
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.
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