Fish Waste Management Market Projected to Reach US$ 7.2 Billion by 2033 | Future Market Insights Inc.
The fish waste management market is on a robust growth trajectory, fueled by several key factors. These include a focus on creating value-added products from fish waste, meeting the rising demand for organic and natural fertilizers, leveraging waste-to-energy innovations for sustainability, and catering to consumer preferences for healthy and natural pet food ingredients. These dynamics are driving the market toward a promising and prosperous future.
NEWARK, Del, Sept. 04, 2023 (GLOBE NEWSWIRE) — FMI’s analysis reveals that the global fish waste management market is currently valued at US$ 5,412.0 million in 2023. It is expected to grow significantly, reaching a market valuation of US$ 7,234.0 million by 2033. The Adoption of fish waste management systems is likely to grow at a CAGR of 2.9% during the forecast period. The industry for fish waste management will increase as a result of growing awareness of environmental sustainability. The need to utilize waste resources, and increasing demand for alternative products, and processes in various industries is also likely to augur well for the market. Demand for fish waste management will also be driven by efficient waste management and circular economy practices
The market is anticipated to grow over the next ten years because of creative promotional strategies used by major fish waste processors while utilizing fish by-products in eco-friendly ways.
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Fish waste processors are using advanced technologies to convert fish waste into renewable energy sources such as biogas and biofuels. Processors are finding ways to convert waste into valuable products such as oils, collagen, and fishmeal to be used in various industries.
Efficient fish waste management reduces the risk of ecological disruption by preventing waste accumulation in aquatic ecosystems. Treating fish waste correctly helps to safeguard marine and freshwater ecosystems, preserving biodiversity and maintaining the delicate aquatic habitat balance.
Processors of fish waste are partnering with other industries and organizations to improve waste management practices. This involves waste collection contracts with aquaculture farms, collaboration with research institutes to create innovative technology, and involvement with government authorities to ensure waste management regulations are followed.
Key Takeaways from the Fish Waste Management Report:
- The global fish waste management market is anticipated to be worth US$ 7,234.0 million by 2033.
- Global demand for fish waste management is likely to soar at 2.9% CAGR over the forecast period.
- Based on the source, the fish segment is anticipated to reach a valuation of US$ 2488.5 million by 2033.
- Based on the end-use industry, the fertilizers segment is anticipated to reach a valuation of US$ 1924.2 million by 2033.
- The United States fish waste management market is projected to reach a valuation of US$ 1794.03 million by 2033.
- During the forecast period, it is expected that the German market will grow in value at a CAGR of 7.2%.
“The fish waste management industry is concentrated on the effective utilization and ethical disposal of fish waste produced by the fishing and processing sectors. It includes multiple strategies that promote sustainability, resource efficiency, and environmental protection, such as recycling, repurposing, and processing fish waste into useful products” – says a lead analyst at Future Market Insights (FMI)
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Top 10 Key Companies Profiled in the Fish Waste Management Market
- Scanbio
- SAMPI
- Biomax Technologies Pvt. Ltd
- Sorbwater
- Blue Ocean Technology
- Scottish Sea Farms
- Vinh Hoan Corporation
- Nam Viet
- Vietnam Food
- Sancho Pancho
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- In 2022, Vietnamese pangasius producer Sao Mai Group successfully processed fish fat into high-value products like cooking oil, margarine, and, shortening.
- Biomax Technologies Pte Ltd has developed Biomax Rapid Thermophilic Digestion Technology, a process of converting organic waste from fish farms and fish processing plants into fertilizer in 24 hours.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global fish waste management market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the fish waste management market based on source (fish surimi, meat surimi), and end use (food industry, pharmaceutical industry, animal Feed, pet food, food service, retail) across various regions.
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Fish Waste Management Market by Category
By Source:
- Fish
- Shrimp
- Squid
By End-Use Industry:
- Fish Meal and Fish Oil Industry
- Animal Feed
- Pet Food
- Organic fertilizers
- Energy Generation
- Cosmetics
- Pharmaceuticals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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