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

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).

Milkfish is a well-rounded form of animal nutrition that aids in meeting protein requirements, particularly for humans. The global demand for milkfish is rising among the health-conscious populace due to its high protein content. Protein and high levels of omega-3 fatty acids, both of which are crucial for smooth body function, are abundant in milkfish. 
Regular milkfish intake helps children's memory and brain development, prevents heart disease, nourishes the eyes, manages cholesterol levels, and also aids in lowering depression. Therefore, the increasing demand for milkfish can be attributed to these nutrient-rich factors.

The milkfish market is anticipated to be propelled by a number of factors such as the products' simple accessibility, rising fish consumption due to its nutritional value, and increased smart fishing with cutting-edge equipment will boost the milkfish market. Additionally, the forecast timeline predicts that the growth and development of distribution channels as well as rising investment in aquaculture research and development activities will have a positive effect on the milkfish market.

Milkfish is referred to by its formal name, Chanos, which is a member of the Chanidae family. As these fishes mature, their silvery abdomens eventually give way to blue or olive-green sides and backs. It's a bony fish with white flesh and a mild flavor that's used in a variety of culinary dishes. The origins of this fish are in Southeast Asia, where it was one of the first fish types to be farmed.

Milkfish can breed in any season because they are very tolerant of environmental changes and disease resistance, which makes it simple for producers to grow milkfish. Due to the increase in shrimp consumption and the poor market prices for milkfish over the past ten years, demand for milkfish has been comparatively stagnant. The low-price structure is therefore restricting the growth of the milkfish industry. During the forecast period, sales are expected to rise as a result of farmers and manufacturers using the improved technologies to produce more milkfish.

US Milkfish Market is poised to grow at a sustainable CAGR for the next forcast year.