Export demand ramps up for value-added fish products

Fish not only provides a food source but also contains important substances that can be extracted and utilised in various forms of fish products. Some of these valuable products are fish meal, fish oil, dry fish, fish flour, fish silage, fish soluble, Shark fin, fish skin, etc.

- Shraddha Warde

The Asia-Pacific fishmeal and fish oil market is expected to experience a compound annual growth rate (CAGR) of 5.1 per cent by 2029, according to Orion Market Research. This market is the largest in the world, as these products are abundantly produced in the region. The Asia-Pacific region consumes more than 60 per cent of the world's fish oil, with China being the largest consumer. The aquaculture industry is driving the fish oil market in Asia-Pacific, as it is commonly used as an aqua feed ingredient in China, Japan, and India. In Japan, Omega 3 fish oil is consumed primarily in pharmaceuticals and nutraceuticals due to the country's growing market for eicosapentaenoic acids (EPA) and docosahexaenoic acids (DHA). The Japanese government is also promoting Omega 3 fatty acid intake to prevent cardiovascular disease, which has further boosted the growth of the fishmeal and fish oil market.

Approximately 70 per cent of fish and crustaceans produced in aquaculture are fed with protein-rich feed wherein fish meal acts as a key ingredient. Fish meal is a highly concentrated nutritious feed supplement consisting of highquality protein, essential amino acids, vitamins, and essential minerals such as phosphorus, calcium iron and other growth factors. Owing to its nutritional value, it is the preferred animal protein supplement in the diets of farm animals and is often the major source of protein in diets for fish and shrimp. Each year, around 20 million tonnes of raw materials are being used to produce fishmeal and fish oil.