Milkfish Market size is estimated to reach USD 1.65 Billion by 2028

 Milkfish Industry Overview

The global milkfish market size was valued at USD 1.15 billion in 2021 and is expected to expand at a CAGR of 5.2% during the forecast period from 2022 to 2028.

 

Factors such as easy availability of the products, growing consumption of fish due to its nutritional content, and increasing smart fishing with innovative equipment are expected to promote the milkfish market. Moreover, expansion a development of distribution channels and increasing investment in research and development activities of aquaculture are expected to positively impact the milkfish market in the forecast timeline.

Gather more insights about the market drivers, restrains and growth of the Global Milkfish Market

 

The biological name of milkfish is Chanos which belongs to the Family Chanidae. The body of fish has silvery color on the belly whereas on sides, grading to olive green or blue on the back. It is a bony fish with white meat with a mild flavor used for a variety of cooking preparations. This fish originates in Southeast Asia and is one of the oldest fish farmed in the Southeast Asia.

 

Milkfish is a combined source of animal nutrition, which helps in supplying protein needs especially for humans. Based on the protein content the demand for milkfish is increasing among the health-conscious population across the globe. The milkfish is loaded with high omega-3 fatty acids and protein which are quite essential for appropriate body functioning. With the regular consumption of milkfish, it develops the memory and brain in children, prevents heart disease, nourishes the eyes, controls cholesterol levels, and is also helpful in reducing depression. Therefore, these nutrient-loaded factors are responsible for the growing milkfish demand.

 

Manufacturers or shrimp farmers are investing heavily to increase the milkfish production to recover the losses by going back to milkfish and cultivating it for the export market. Hence, the ongoing trend is likely to create more opportunities for the producers of milkfish during the forecast period. The milkfish can be easily cultivated irrespective of any season, as they are very tolerant of environmental changes and are also resistant to disease, which allows farmers to easily produce milkfish.

 

The demand for milkfish was relatively stagnated over the past decade due to the boom of shrimp and the low price of milkfish in the market. As a result, the low-price structure is limiting the milkfish market growth. The farmers and manufacturers are using the improved technologies for increasing the volumes of milkfish production thereby resulting in increased sales during the forecast period.

 

Browse through Grand View Research's Consumer F&B Industry Research Reports

  • Hemp Seed Oil Market: The global hemp seed oil market was valued at USD 88.2 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 14.7% from 2023 to 2030.
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Key Companies Profile

Some of the prominent players in the Milkfish market include:

  • Komira Group
  • LAND & SEA INTERNATIONAL FOOD SUPPLY
  • Nireus Aquaculture S.A.
  • Siam Canadian Group Limited
  • Stehr Group
  • Kaysaint International Co. Ltd
  • Fishnesia Mitra Bersama
  • Liang Shing Frozen Seafoods Co., LTD.
  • W Fresh Supply

 

Order a free sample PDF of Milkfish Market Intelligence Study, published by Grand View Research.

 

 

 

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