Fish Paste market Outlook:
Fish paste is a soft, creamy paste or puree of fish which is formed by breaking down fish either chemically or by physical means. The chemical treatment of breaking down fish to form fish paste involves a process called as fermentation. The physical method for preparation of fish paste involves processes like grinding, mincing, pressing, pounding, blending, or sieving, such that the fish is reduced to the consistency of a paste. Fish paste is cooked for a long time so that it attains the desired level of consistency and thickness. Fish paste is used as seasoning or condiment to embed flavor to various food and other delicacies. Fish paste consists of low fat and high protein contents and is a rich source of vitamins and omega-3. Besides fish is an excellent source of minerals, such as zinc, iron, magnesium, iodine, and potassium which helps to keep heart and brain healthy. Fish paste have several functional properties like it helps lowering cholesterol levels, increasing body immunity, and proper functioning and development of brain and nervous system. The demand for fish paste is anticipated to witnessing a growing demand over the forecast year.
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Innovations and variations in seafood dishes and demand for fat-free proteinaceous food worldwide is driving the fish paste market:
According to FAO (The Food and Agriculture Organization), worldwide, about 100 million tonnes of fishes are eaten every year, providing about two and a half billion people with at least 20 percent of their average per capita animal protein intake. The increasing popularity and demand for fish are fuelling the growth for fish paste. Innovations and variations in seafood dishes and demand for fat-free proteinaceous food worldwide is driving the fish paste market. The rising application of fish paste in the food industry in the preparation of various cuisines and delicacies is boosting the demand for fish paste. The increasing per capita expenditure of consumers is further increasing the market for fish paste due to increasing consumer’s purchasing capacity. The increasing health and wellness awareness among consumers regarding proper intake of nutrition and protein is also making consumers opt for nutrient-rich fish diet including fish paste.
Fish Paste market: Market Segmentation
On the basis of fish type, the Global Fish Paste market has been segmented as:
- Tuna
- Salmon
- Shellfish
- Shrimp
- Crab
- Others
On the basis of application, the Global Fish Paste market has been segmented as:
- Food Products
- Sauces
- Spreads
- Dressing
- Soups
- Noodles
- Snacks
- Others
- Food processing
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On the basis of distribution channel, the Global Fish Paste market has been segmented as:
- B2B
- B2C
- HoReCa
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Small Groceries
- Online Retail
On the basis of region, the Global Fish Paste market has been segmented as:
- North America
- Latin America
- Europe Barley
- CIS & Russia
- Japan
- APEJ
- The Middle East & Africa
Global Fish Paste market: Market Participants
The key market participants identified across the value chain of the global Fish Paste market are:
- Hakka PTY LTD
- LI Chuan Food Products PTE LTD
- Nishi Nihon Kibun Foods Inc.
- Mannarich Food Inc.
- Princes Limited
Opportunities for Fish Paste market:
The demand for fish paste is anticipated to increase over the forecast year owing to the growing population and income growth, urbanization and dietary changes. Increasing predilection for nutritious food products is leading to increased consumption of seafood including fish paste. The regions like the Asia Pacific is expected to have good market prospects for fish paste owing to rising per capita disposable income of the consumers along with increasing consciousness about having proper dietary intake including proper nutrient and protein intake. Also, a huge part of the population depends on the seafood source for their daily protein intake making the demand for fish paste rise. Besides, upwelling consumption of seafood as one of the premium food products is expected to boost the demand for seafood including fish paste across the globe. The increasing food and food processing industries is further fuelling the demand for fish paste as it is used in various culinary and dishes like snacks, sandwiches, soups, spreads, and others.
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