Fish Silage Market- Outlook On Emerging Application, Revolutionary Trends & Potential Growth Strategies 2033
The global fish silage market is anticipated to reach a market valuation of US$ 780.9 million in 2023. Over the forecast period (2023 to 2033), global fish silage demand is estimated to grow at 10.2% CAGR. By 2033, the total market is projected to reach a US$ 2,065.0 million valuation.
Fish silage is vital because it is a versatile feedstuff,
cost-effective, simple to process, long-term storage life, along with an
environmentally sound way of disposing of fish waste.
Despite the fact that the production and usage of fish
silage have been commercialized in Scandinavia, many efforts have been made in
Canada, primarily due to economic pressures, rigorous environmental rules, and
the need for protein sources.
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More specifically, the production of fish silage is an
appealing alternative for small processors for whom fish meal manufacturing is
too expensive and raw material supply is insufficient or sporadic.
In small remote fishing ports where the supply of fish waste
is limited, a fish meal factory is not economically feasible nonetheless, fish
silage is an alternative feasible option for manufacturing value-added
products.
Fish silage, like fish meal, is mostly used in animal feed.
Fish meal has 65% protein, whereas fish silage contains just about 15%. Fish
meals, on the other hand, can be supplemented with fish silage at various
amounts to minimize feed costs. Silage appears to be more practicable in pig
farms, where it may be applied directly as a liquid.
Aside from the pig industry, hens and cows fed silage
yielded good results such as tainted milk and butter and high egg production.
By isolating the oil phase and evaporating the moisture, silage can be
utilized as a protein concentrate. Concentrated silage is preferable to
regular silage because it has a higher nutritional value.
Key Takeaways from the Fish Silage Report:
- The
Fish silage market is expected to be valued at US$
780.9 million by 2023.
- Global
demand for fish silage is likely to soar at 2% CAGR over the
forecast period.
- Based
on Type, demand for Wet type is expected to continue as it is holding a
market share of 0% to reach a market valuation of US$
1,837.8 million by the end of 2033.
- According
to FMI analysis, the liquid segment is predicted to attain a market share
of 0% during the assessment period, resulting in a market
size of US$ 1,610.7 million by 2033.
- According
to FMI, there is an increasing application of fish silage in aquaculture
feed and it is estimated to hold a market share of 0% and
is anticipated to reach a market valuation of US$ 1,156.4 million by
the end of 2033.
“The Fish silage market is expected to expand due to
rising consumer preference for sustainable agricultural practices along with
alternative animal feed sources presenting an opportunity to Manufacturers to
Innovate More– says a lead analyst at Future Market Insights
(FMI)
Who is Winning?
BioMar Group, Calysta, Inc., Biomega AS, Alltech Coppens,
Skretting, Nutreco N.V., Ridley Corporation Limited, Archer Daniels Midland
Company, Cargill, Inc., Dibaq A.S. and others (on additional request) are key
fish silage manufacturers listed in the report.
These companies are expanding product portfolios, employing
strategies like advertising, partnerships, acquisitions, agreements, and
mergers to maintain market relevance and drive growth in the fish silage
market.
For instance,
- In
November 2021, the Caribbean Agricultural Research and Development
Institute (CARDI) and The United Nations Food and Agriculture Organisation
(FAO) recently collaborated to offer a virtual Fish Silage for Animal Feed
Seminar for stakeholders and 25 participants.
- In
July 2019, Argentina’s government recently hosted a workshop with the
St. Kitts and Food and Agriculture Organisation (FAO) and Nevis
Marine Resources Division. The project’s goal is to convert unused fish
parts into safe and nutritious products for cattle consumption and
fertilizer. The idea creates jobs while also assisting in ensuring food
security and lowering the food import expense.
- In
March 2021, Iran intends to create three new fish silage production firms
in the Iranian year (March 21, 2021 to March 20, 2022), according to
Deputy Chairman of Iran Fisheries Organisation Isa Golshahi, according to
Trend, quoting the Ministry of Agriculture Jihad.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides
an unbiased analysis of the global fish silage 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
silage market based on Fish Type (Tuna, Salmon, Sardine, Mackerel, and Others),
Type (Dry Silage and Wet Silage), Form (Powder, Liquid, and Pellet) Application
(Aquaculture Feed, Pet Food, Agriculture Feed, and Others), across various
regions.
Fish Silage Market by Category
By Type:
- Dry
Silage
- Wet
Silage
By Fish Type:
- Salmon
- Tuna
- Sardine
- Mackerel
- Others
By Application:
- Aquaculture
Feed
- Pet
Food
- Agriculture
Feed
- Others
By Form:
- Pellets
- Powder
- Liquid
By Region:
- North
America
- Europe
- Latin
America
- East
Asia
- Oceania
- South
Asia
- Middle
East & Africa
About the Food & Beverage Division at Future Market
Insights (FMI)
FMI’s Food & Beverage team offers comprehensive business
intelligence services, with a vast array of reports and data points analyzed
across 50+ countries over a decade. The team provides consulting services and
end-to-end research, offering expert analysis, actionable insights, and
strategic recommendations to clients worldwide. Contact them to explore how
they can assist with your unique business intelligence needs.
Information Source: https://www.futuremarketinsights.com/reports/fish-silage-market
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