Global Fish Powder market segments 2024, Forecast To 2033

The fish powder market has shown robust growth, increasing from $8.22 billion in 2023 to $8.82 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period is attributed to the heightened consumer awareness of the nutritional benefits of fish, the demand for protein-rich and functional food ingredients, the rise in health consciousness, preference for natural ingredients, expansion of aquaculture and fisheries industries, the need for sustainable and eco-friendly food sources, and the demand for fish powder in animal feed and pet food industries. Anticipating sustained strong growth in the next few years, the market size is projected to reach $11.52 billion in 2028, supported by a consistent CAGR of 6.9%. Growth in the forecast period is attributed to the adoption of fish powder as a flavor enhancer and natural umami ingredient, an emphasis on waste reduction and the utilization of fish by-products, the need for omega-3 fatty acids and essential micronutrients in diets, the expansion of fish powder in cosmetic and personal care products, and the growing demand for fish protein in sports and fitness nutrition. Major trends in the forecast period include the microencapsulation of fish powder, the promotion of clean label and natural processing, innovative packaging solutions, the development of powdered fish oil and omega-3 supplements, and the fortification of food and beverages.