Fish Protein Market Size, Share & Industry Analysis, By Type (Fish Protein Hydrolysate, Fish Protein Concentrate, Fish Protein Isolate), By Application (Food and Beverages, Sport Nutrition and Dietary Supplement, Animal Feed, Others (Pharmaceutical, Cosmetic and Personal Care and Others))and Regional Forecast, 2024-2032

The fish protein consumption is associated with health benefits such as maintaining blood pressure, reducing the risk of heart disease and stroke. In many regions, fish is the primary or only source of animal protein and is essential for providing micronutrients to vulnerable populations. For instance, according to the Food and Agriculture Organization (FAO), approximately 3.1 billion people reliant on fish for at least 20% of their over-all animal protein intake, and a further 1.3 billion people for 15% of animal protein intake.

The fish protein has high digestibility and growth-promoting value, hence it plays an essential role in human nutrition. Besides eating fish, another way to consume fish protein is by taking store-bought supplements. The fish protein hydrolysate is soluble in a wide range of pH, which is an ideal characteristic to incorporate fish protein in a various range of food products. The companies operating in the market are focused on investments in innovative technologies to strengthen their market position. For instance, in November 2017, AquiNovo and Neovia (a global health leader in animal health & nutrition) collaborated to develop a new technology which will accelerate the growth cycles of fish and lead to higher yields. This technological development will increase the fish yield to meet the ever-growing demand for fish protein.

The rising awareness about the benefits of fish protein for the production of value-added functional foods and food fortification has encouraged dietary supplements and fortified food manufacturers to incorporate fish protein in their products. The health benefits such as a healthy heart and brain associated with the consumption of fish protein are anticipated to drive the global fish protein market. The fish protein is widely used in many food items as a functional ingredient due to their water holding capacity and emulsifying properties. The increasing demand for sports nutrition products is a vast opportunity for the application of fish protein.

The high chances of product contamination, high preservation, storage, and shipping expenses can act as a significant restraint for the growth of the global fish protein market. The high initial investment for fish protein production can hamper the growth of the market in developing economies.

Key Players Covered:

The prominent players operating in the global fish protein market are Omega Protein Corporation, Bio-marine Ingredients Ireland Ltd., Apelsa Guadalajara S.A. de C.V., Nutrifish, PeterLabs Holdings Berhad, Advance International, Inc., Siam Industries International, Diana Aqua, Hofseth BioCare, Guyamas Protein Company, and others. 

The fish protein hydrolysate segment is anticipated to witness considerable growth in the global fish protein market, followed by fish protein concentrate and fish protein isolate. The fish protein hydrolysate has specific health-enhancing roles other than nutritional benefits. The fish protein hydrolysate has anti-oxidant, anti-coagulation, and anti-microbial effects on the human body. The health benefits associated with fish protein hydrolysate are anticipated to drive the growth of the segment. Fish protein isolate is one of the purest forms of protein and requires an intensive process of filtration. The growing awareness about the health benefits of fish protein isolate will result in the rising demand for it from processed food manufacturers.

The dietary supplement is one of the fastest-growing segments, followed by animal feed and others. Fish protein is one of the essential ingredients in functional food processing and product development as they are accountable for various functional properties that influence consumer’s acceptability. The wide use of fish protein in numerous processed food manufacturing, such as snacks, infant foods, etc. are projected to boost the demand for fish protein in the food and beverage industry. The cosmetic and personal care segment is anticipated to witness robust growth in the global fish protein market due to its extensive use of fish protein as it contains a significant amount of collagen which helps in skin tightening and reduces the aging process.

Regional Analysis:

Asia Pacific is projected to witness considerable growth in the global fish protein market. The increasing disposable income and expanding wellbeing mindfulness will act as fuelling factors for the growth of the fish protein market in this region. The easy availability of the raw product will positively leverage the fish protein market in Asia Pacific. For instance, according to the Food and Agriculture Organization (FAO), China has been the world’s top fish producer for many years. In 2015, China produced 65.2 million tonnes of food fish.

North America is anticipated to witness robust growth in the global fish protein market. The increasing obesity among the population and rising adoption of protein-rich dietary supplements for weight management is projected to boost the demand for fish protein in this region. The easy availability of the product due to the presence of prominent players such as Sopropeche, Guyamas Protein Company, Hofseth Biocare ASA and others in North America will further fuel the growth of fish protein in this region.

Segmentation

 Key Industry Developments

• In January 2020, BlueNalu, California, seafood products manufacturing company, announced a partnership with Nutreco, an aquafeed manufacturing company. This partnership will help the BlueNalu to straighten their position in seafood manufacturing market.


• In December 2017, Cooke Inc., which is a seafood company, acquired Omega Protein Corporation which is a Houston-based company to help the expanded supply side of the company’s business and also helps in supporting strategy of growth as a leader in the seafood production.