Fish Protein Isolate Market Size, Share & Industry Analysis, By Form (Powder, Liquid), By Application (Food & Beverage, Pharmaceuticals, Cosmetics and Personal Care Products, Animal Feed) And Regional Forecast, 2024-2032

Fish protein isolate (FPI) is a protein that is obtained by isoelectric solubilization/precipitation from the whole fish. The FPI is widely incorporated in various fortified food products such as protein bars, cereals, infant formula, and others to improve their nutritional profile for optimal health development. The fish protein isolate is easily soluble in food products and is highly suitable for human consumption. Further, the increasing demand for functional foods, nutritionally enhanced with omega-3 fatty acids, reduced sodium, and high protein content will fuel the fish protein isolate market growth.

The low price of the fish protein isolate has led to its utilization for producing various pocket-friendly dietary supplements and sports nutrition products, which is expected to drive its market. Further, it is an affordable source of protein in different developing countries such as Indonesia and Bangladesh. Along with this, due to its essential micronutrient content, it is considered to aid in curbing malnutrition, which in turn fuels its market growth.

The fish protein isolate has widely grown popular in the form of protein-rich dietary supplements. It offers various health benefits such as strengthening muscle, improve brain functioning, and also improves immunity, which has led to its demand rise. Further, the FPI enhances the functionality and nutritional aspects of the food, which in turn drives the market growth.

Key Market Driver -

Increasing Demand for Protein-rich Dietary Supplements

Key Market Restraint -

Consumers Growing Inclination towards Plant-based Products

The shifting consumer preferences towards plant-based protein and vegan products pose a significant restraint in the fish protein isolate market growth. Further, the availability of various plant-based protein products that have the same taste compliance as animal-based products is also hampering the market growth.

Key Players Covered:

The key companies operating in the global fish protein isolate market are Omega Protein Corporation, Titan Biotech Limited, Costantino & C. s.p.a, Cooke, Inc., Peterlabs Holdings Barhad, Mukka Sea Food Industries Private Limited, Bio-Oregon Protein Inc., Diana Group, TripleNine Group A/S, and Siam Industries International.

The powder form of FPI is likely to hold the major share in the market owing to its wide incorporation in various food products such as bread, pasta, soups, and meat patties. The powdered FPI is easy to incorporate in the food, along with its high shelf-stable nature and convenience of storage and transportation.

The food and beverage segment is anticipated to hold the larger share due to its wide application in food products as it easily blends in with the other ingredients along with that increases its nutritional property and shelf life.

Regional Analysis:

North America is likely to observe a significant growth in the market due to the increase in consumption of functional food. The health and wellness trends in the region have mainly driven FPI market growth. According to the International Food Information Council Foundation (IFIC) survey in 2017, nearly two-thirds of the U.S. population is trying to consume more protein. The protein consumption increased by 54% in 2015 from 50% in the previous year. Thus, these factors cumulatively aid in boosting regional market growth.

Asia Pacific is anticipated to witness substantial growth in the market as it is one of the largest global fish producers. According to the Food and Agriculture Organization (FAO), China is the world’s top producer of fishes since 2002 and also the largest exporter of fish and fish products. In countries such as Bangladesh, Sri Lanka, and Indonesia, fish contributes nearly 50% of total animal protein intake. Further, the affordability and easy availability of FPI in the region are some of the factors driving the market growth.

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Segmentation

Key Industry Developments

• In May 2020, Palladium Equity Partners, LLC has acquired Butts Foods, Inc. a protein distribution company to expand its geographical footprint and serve its consumers better.


• In January 2020, Nutreco N.V. announced a strategic partnership with US-based seafood start-up BlueNalu, Inc. The partnership between the companies will aid in sufficing the growing seafood protein demand along with strengthening their market presence.