Fish Protein Hydrolysate Market Insights and Industry Analysis by Source (Anchovy, Herrings, Menhaden, Sardine, and Shads), Form (Liquid and Powder), Application (Food, Pharmaceuticals, Animal Feed & Pet food, and Personal Care), and Region (North America, Asia-Pacific, Europe, and the Rest of the World), Competitive Market Size, Share, Trends, and Forecast to 2028
New York, US, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Fish Protein Hydrolysate Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Fish Protein Hydrolysate Market Information by Source, Form, Application and Region - Forecast till 2028”, the market is projected to reach USD 560.5 Million by 2028 registering a CAGR of 4.32%.
Treatment of fish meat with alcalase, pepsin, chymotrypsin, trypsin, or other enzymes under controlled temperatures and pH results in fish protein hydrolysate. Fish protein hydrolysate has a wide range of applications, including food processing and a variety of other industries such as pharmaceuticals, personal care, animal feed, and pet food. Fish protein hydrolysate's nutritional content, bioactivity, and functionality expand its range of applications. The functional, physicochemical, and bioactive features of the fish protein hydrolysate, as well as its applications as a food additive, are greatly influenced by the method utilised in the hydrolysis process. However, fish protein hydrolysate has an unpleasant bitter taste, which can limit its use and popularity. However, because of its remarkable nutritional and functional qualities, fish protein hydrolysate has a lot of room for expansion in the food and health industries.
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Some of the key players operating in the global fish protein hydrolysate market are:
Hofseth BioCare ASA (Norway)
Diana Group (Brittany)
Bio-marine Ingredients Ireland (Ireland)
Janatha Fish Meal & Oil Products (India)
Scanbio Marine Group AS (Norway)
Omega Protein Corporation (US)
Sociedad Pesquera Landes Sa (Chile)
TC Union Agrotech and United Fisheries (Thailand)
The market for fish protein hydrolysate is projected to be influenced by rising consumer awareness of the benefits of fish protein. Consumers are becoming more interested in living a healthy lifestyle and purchasing things that help their health. Consumers are growing more health-conscious and focusing on health-beneficial items, and they are even willing to pay more for products that provide many health benefits. The nutritional supplement industry is experiencing a surge in demand for fish protein hydrolysate to make supplements for malnourished children, which is projected to propel the fish protein hydrolysate market forward.
Furthermore, rising consumer health consciousness has resulted in an increase in demand for fish protein hydrolysate. Furthermore, fish protein hydrolysate is widely utilised in animal feed products since it helps to decrease illness outbreaks and boosts the metabolic system's resistance to infections. As a result, the market for fish protein hydrolysate is predicted to rise over the forecast period.
However, raw materials for the synthesis of fish protein hydrolysate, such as Atlantic salmon from Scandinavian nations including Norway, Denmark, and Sweden, and tuna from the Japan Sea and Pacific Ocean, are in short supply. Furthermore, because aquatic products are highly perishable, collecting, storing, and processing the raw material is difficult. In addition to the challenges of keeping raw materials, managing the final product of fish protein hydrolysate is also complex. Fish protein hydrolysate is difficult and expensive to store and transport. The manufacture of fish protein hydrolysate is not a cost-effective procedure, which may operate as a market restraint.
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COVID-19 has had a direct impact on the distribution and sales of many items across several industries. Many countries are on lockdown and have closed their borders to prevent the virus from spreading. COVID-19's logistical impact has interrupted the supply of raw materials, resulting in reduced manufacturing capacity and, as a result, product shortages. In the short term, these variables are predicted to raise the price of fish protein hydrolysate. Furthermore, fish protein hydrolysate is commonly employed to provide consumers with nutritional benefits. The current pandemic situation encourages people to consume foods that are high in nutrients. The supply and demand curve for fish protein hydrolysate is directly influenced by these factors.
The greatest market share for the source segment in the worldwide fish protein hydrolysate market was held by anchovy. Anchovy protein hydrolysate is a nutrient-dense fish protein hydrolysate. The anchovy segment's growth can be ascribed to the product's excellent creation and high amino acid content.
By way of example, In the global fish protein hydrolysate market, powder led the form category. The powder form is a free-flowing, amorphous, spray-dried product with a high protein content. The diverse applications of this market in industrial fermentation, fertiliser, and vet feed for piglets, poultry, and fur-bearing animals, aquafeed, and the pet food trade are driving its rise.
By way of example, The application section of the fish protein hydrolysate market was dominated by animal feed and pet food. As the frequency of transmissible diseases in livestock such as cattle, beef, and cows has increased, supplemental additives in animal feed products have been added to improve feed utilisation, immune response, and beneficial microbiota, resulting in pathogen resistance. The market for fish protein hydrolysate in animal feed and pet food has grown as a result of this.
North America held the biggest market share in the worldwide fish protein hydrolysate market in 2016, and this trend is projected to continue during the forecast period. Because of the growing health consciousness among customers in the region, consumers are gravitating toward health-beneficial items. Millennials, particularly in the personal care market, prefer cosmetic goods made with natural components. Consumer demand for anti-aging and collagen-boosting personal care products is also increasing. As a result, the market for fish protein hydrolysate in the region has exploded.
During the predicted period, Asia-Pacific is expected to grow the fastest. Consumers are increasingly adopting a healthy lifestyle and gravitating toward things that are beneficial to their health. Furthermore, as customers become more aware of the multiple health benefits afforded by fish protein, producers are increasingly focusing on the use of fish protein hydrolysate in a variety of goods. Furthermore, demand for fish protein hydrolysate is rising in the creation of nutritional supplements for malnourished children, boosting market growth in the region. Additionally, rising consumer disposable income is likely to fuel market expansion over the projection period. More protein-rich goods are being sought by consumers. Manufacturers are focusing on expanding their product portfolios and ingredient options, such as fish protein hydrolysate.
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