Milkfish Market Size, Share, Growth Analysis, By Form(Frozen and Canned), By Distribution Channel(Offline and Online), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2150 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 59 |Figures: 75

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Milkfish Market size was valued at USD 1.2 billion in 2021 and is poised to grow from USD 1.2 billion in 2022 to USD 1.8 billion by 2030, growing at a CAGR of 5% in the forecast period (2023-2030).

The presence of numerous well-established players as well as numerous small and medium-sized players defines the milkfish industry. Vendors are concentrating on more fish breeding in order to meet customer expectations for milkfish. Vendors are also attempting to develop novel preservative methods to lengthen the product's longevity. Additionally, sellers are extending their geographic reach. Such initiatives are anticipated to increase the rate at which consumers adopt the goods. The Milkfish extractors are actively pursuing both organic and inorganic strategies to increase their geographic footprints. For instance, Nireus Aquaculture S.A. feeds the fish using a safe and economical method. 'PT Central Proteinaprima Tbk', 'Blue Ridge Aquaculture', 'Aquaculture Technologies Asia Limited', 'Blue Archipelago Berhad', 'Andi's Seafood', 'Hawaiian Fish Company', 'Quoc Viet Seafood', 'Blueyou Seafood', 'Fittonia Group', 'Fong Chun Formosa Fishery Company Limited', 'Mjölnir Seafood', 'Regal Springs Tilapia', 'Stolt Sea Farm', 'Tassal Group Limited', 'Umami Sustainable Seafood', 'Zeal Aqua', 'Atlantic Capes Fisheries, Inc.', 'Truong Thinh Seafood', 'Haikui Seafood AG', 'Crown Seafood Co., Ltd.'

There has been an increasing demand for seafood, including milkfish, due to its health benefits and nutritional value.

Increasing demand for sustainable and organic fish: The trend towards sustainable and organic fish is gaining popularity, and milkfish is no exception. Consumers are becoming more aware of the environmental impact of fish farming, and are seeking products that are produced in an environmentally responsible way.

Asia Pacific is anticipated to continue to expand at a CAGR of 5.0% from 2023 to 2030, maintaining its market dominance of more than 65% in 2022. This region is where the product was created, and it has a sizable manufacturing capacity. Since the beginning of time, fishing has been a significant business in these regions. Among the countries that add the most to the production of fish products are China, India, and Indonesia. Fish products are being consumed more frequently in China and India due to a large population desire. States are also taking control by contributing money to the development of aquaculture. Therefore, this region produces the most market revenue.

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Global Milkfish Market

Product ID: SQMIG30I2150