Global Fish Protein Hydrolysate Market
Global Fish Protein Hydrolysate Market Size Grows Steadily at CAGR of 4% to Surpass USD 331 Million by 2030
Published | 24 January 2024
Global Fish Protein Hydrolysate Market is flourishing due to an increasing demand for protein-rich products, growing versatility in modern technologies, and a rising focus on sustainability and waste reduction.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Fish Protein Hydrolysate Market size at USD 252.03 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Fish Protein Hydrolysate Market size to expand at a CAGR of 3.99% reaching a value of USD 331.32 million by 2030. The Global Fish Protein Hydrolysate Market is propelled by the increasing scale of the fisheries and aquaculture industry, spurred by the growing adoption of advancements in fishing technologies. However, the burgeoning global fisheries production is accompanied by a growing challenge—approximately two-thirds of the total production is discarded as fish waste, as highlighted by the National Institute of Biotechnology Information. To address this significant issue, there is a rising trend in repurposing fish waste into valuable products, such as Fish Protein Hydrolysate (FPH) through the addition of various proteolytic enzymes. The strategic approach aligns with the growing emphasis on sustainable practices and contributes significantly to the rising prominence of the FPH Market. Also, the nutritional advantages of FPH in enhancing animal health and immunity contribute to an increasing demand for FPH in the ever-evolving landscape of the animal feed industry.
Impact of Geopolitical Tensions on Global Fish Protein Hydrolysate Market
The Global Fish Protein Hydrolysate (FPH) Market is impacted by geopolitical tensions in several ways, with potential repercussions for the protein hydrolysate for animal feed application. The conflicts may disrupt the supply chain of FPHs, affecting both production and product availability. These uncertainties could further impact trade relationships and alter market dynamics. Despite these challenges, market growth is projected due to the rising focus on animal nutrition and growing global population. As consumers recognize the benefits of protein hydrolysates in animal feed, there is a growing demand for high-quality and nutritious feed ingredients. Key industry players’ adaptability to changing market dynamics, innovative approaches, and robust supply chains are likely to thrive in the evolving landscape.
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Global Fish Protein Hydrolysate Market
Segmental Information
Global Fish Protein Hydrolysate Market – By Application
By application, the Global Fish Protein Hydrolysate Market is divided into Animal feed, Food, Cosmetics, Pharmaceutical, and Agriculture segments. The animal feed segment holds the highest share in the Global Fish Protein Hydrolysate Market by application, primarily due to the growing focus on thwarting the increasing threat of communicable diseases among livestock. It has spurred an increased adoption of supplementary additives in animal feed to bolster immune response, optimize feed utilization, and enhance beneficial microflora. Consequently, nutritional fortification aims to cultivate pathogen resistance, contributing to the growth of the animal feed additives market. Governments’ supportive initiatives, particularly in China, aimed at regulating meat products to safeguard human health from infectious animal-derived food, are anticipated to positively impact the market expansion. The increasing demand for animal-based food products to augment dietary protein intake is expected to further propel the demand for animal feed, positioning FPH as a sought-after component in the sector and driving market growth in the segment over the forecast period.
Global Fish Protein Hydrolysate Market – By Region
The in-depth research report on the Global Fish Protein Hydrolysate Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia Pacific region is expected to hold the highest share in the Global Fish Protein Hydrolysate Market during the forecast period. In the Asia Pacific region, both developed and developing nations are witnessing a notable surge in urbanization, coupled with the continual expansion of the middle class demography. This demographic shift not only presents a myriad of opportunities for market players but is also fueling the growing demand for protein supplements and the increased adoption of personal and sports fitness products. Within this evolving market scenario, FPH emerges as a pivotal ingredient, in high demand among feed producers, thereby significantly impacting the animal feed industries in the region. Also, the versatile application of FPH extends beyond nutrition, finding its use in various beauty and personal care products, such as skin conditioners, moisturizers, and hair conditioners. This multifaceted demand is further amplified by the flourishing cosmetic product industry in developed and developing countries like Japan, South Korea, and India. The projected growth in the production of cosmetic products in these nations is poised to act as a catalyst for the FSH market in the Asia Pacific region. Concurrently, the escalated spending on the manufacturing of food, beverages, and cosmetics over the years, and the anticipation of a continued upward trajectory, collectively contribute to the robust expansion of the FPH market across Asia Pacific countries.
Competitive Landscape
The Global Fish Protein Hydrolysate (FPH) Market is fragmented, with numerous players serving the market. The key players dominating the Global Fish Protein Hydrolysate (FPH) Market include Bio-marine Ingredients Ireland Ltd, Copalis Sea Solutions, Scanbio Marine Group AS, Diana Group Srl, Hofseth BioCare ASA, Janatha Fish Meal & Oil Products, Sopropêche, Omega Protein Corporation, Symrise AG, and E.F.S.-Hollanda. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Fish Protein Hydrolysate Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Fish Protein Hydrolysate Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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Related Report
Publish Date: January 2024
An increasing demand for protein-rich products, growing versatility in modern technologies, and rising focus on sustainability and waste reduction are expected to drive the Global Fish Protein Hydrolysate (FPH) Market during the forecast period between 2024 and 2030.
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