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Global Fish Paste Market to Witness a Healthy Growth During 2020-2025, Aided by the Growth of the Fish Market

According to a new report by EMR titled, ‘Global Fish Paste Market Report and Forecast 2020-2025’, the fish paste industry is being driven by the growth of the fish production, which reached a volume of 177.8 million tonnes in 2019. The global fish production is expected to grow at a CAGR of 2.3% in the forecast period of 2020-2025.

Fish paste is considered extremely healthy as it is low in fat and high in protein and a good source of omega-3 vitamins. Apart from being a rich source of minerals, including zinc, iron, magnesium, iodine, and potassium, fish paste is excellent for maintaining a healthy heart and brain. Fish paste has many functional features, such as lowering cholesterol, increasing body immunity, and promoting proper brain and nervous system functioning and development. In the forecast year, the demand for fish paste is projected to witness a growth due to the rising demand for healthy and convenient foods.

The product is also gaining popularity among consumers who partake in sports activities. As the product is a rich source of protein as well as is low fat, it is extremely useful in building healthy muscles. Various Japanese companies are making products like chikuwa and kamaboko sausages using fish paste, which is further driving the growth of the industry. The sales of the product are also being bolstered by its availability on various distribution channels, including e-commerce or online retailers like Amazon.com, Inc. (NASDAQ: AMZN), and hypermarkets like Walmart Inc (NYSE: WMT). The market is further being driven by the rising innovations and variations used in seafood in the food industry. The product is also increasingly being used in the food industry for preparing various delicacies, which is further bolstering the market growth.

Market Analysis by Fish Type, Application, Distribution Channel, and Regions:

  • The fish types in the industry can be divided into tuna, salmon, and shellfish, among others.
  • Fish paste finds wide applications in food products and food processing. 
  • The distribution channels in the market include B2B and B2C. 
  • The regional markets for fish paste include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growth of the industry is driven by factors like rising in disposable incomes, rapid urbanisation, and change in food habits.
  • The nutritional benefits of the product have been further aiding the industry growth.
  • The increasing seafood consumption is likely to boost the demand for fish paste, thus, catalysing the market growth.
  • The rising food processing industry is propelling the market growth further, with consumers increasingly consuming processed and convenient foods containing fish paste.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fish paste for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the fish types, applications, distribution channels, and major regions of fish paste.
  • It also provides detailed regional price trends of the product for the periods (2015-2019) and (2020-2025).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fish paste market are Hakka Pty Ltd, LI Chuan Food Products PTE LTD, Nishi Nihon Kibun Foods Inc., Mannarich Food Inc., and Princes Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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