Market Analysis And Growth Of Fish Products Market
According to the World Health Organization, fish and fish products constitute a key source of protein consumed by nearly 1 billion people worldwide (WHO). Fishmeal and fish oil are the two most common types of fish products. Fishmeal is commonly fed to farm animals like pigs and chickens, as well as to humans. However, because of its health benefits and flavor, fish oil is used in the pharmaceutical and food industries. Fish oil is particularly high in zinc and iodine, which is fueling the global fish industry. Fish oil is also beneficial for improving brain function and lowering inflammation.
The global Fish Products Market was valued at 177.70 million tonnes in 2018, and it is predicted to grow at a CAGR of 3.2 percent in terms of volume between 2019 and 2027, reaching 228.25 million tonnes by 2027.
Covid-19, a pandemic, has had a severe influence on the global fisheries and aquaculture industries. Due to manpower shortages and lockdown constraints, the impact can be felt regarding production, processing, and distribution. However, fisheries and aquaculture are gradually becoming a key source of protein, foreign exchange, livelihoods, and general well-being in the Asia-Pacific region.
According to data from the Food and Agricultural Organization (FAO), China led global fish output from 2010 to 2017, peaking at 26.9 million metric tonnes in 2018.
The global fish products market is divided into three categories based on product type: Fish Oil, Fishmeal, and Others.
