Rising Growth of Aquaculture Industry to Drive Fish Protein Hydrolysate Market for Animal Feed Application
According to our latest market study on “Fish Protein Hydrolysate Market for Animal Feed Application Forecast to 2030 – COVID-19 Impact and Global Analysis – by Form and Application,” the fish protein hydrolysate market size for animal feed application is expected to grow from US$ 243.38 million in 2023 to US$ 339.87 million by 2030; it is estimated to register a CAGR of 4.9% from 2023 to 2030. The report highlights key factors driving the fish protein hydrolysate market for animal feed application and prominent players along with their developments in the market.
Fish protein hydrolysate is a breakdown product of fish proteins containing smaller peptides and amino acids. Fish protein hydrolysates contain many bioactive peptides and amino acids that have been shown to have human health and animal feed supplementation benefits. Fish protein hydrolysates are widely used in aquaculture feeds due to their higher protein content and the ideal amino acid balance for aquatic animals. It can enhance animals' metabolic systems, which protects them from the risk of diseases and infections.
Global Fish Protein Hydrolysate Market for Animal Feed Application Breakdown – by Region
Fish Protein Hydrolysate Market for Animal Feed Application Forecast to 2030 - Global Analysis by Form (Dry, Liquid) and Application [Poultry (Layers, Broilers, Others), Ruminant, Swine, Aquaculture (Salmon, Tuna, Shrimps, Others), Pets (Dogs, Cats), Others]
Fish Protein Hydrolysate Market for Animal Feed Application Report | 2023-2030
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The key players operating in the global fish protein hydrolysate market for animal feed application include Copalis Industry SAS, NAN Group JSC, Scanbio Marine Group AS, Janatha Fish Meal & Oil Products, 21 Pine Freezers Road Pty Ltd, Symrise AG, Kemin Industries Inc, Euro Feed Services, Holland BV, Bio-marine Ingredients Ireland Ltd, and Vita Actives Ltd. Players operating in the fish protein hydrolysate market for animal feed application are focusing on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and mergers & acquisitions.
Impact of COVID-19 Pandemic on Fish Protein Hydrolysate Market for Animal Feed Application
The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel restrictions, and business shutdowns across the world hampered the growth of several industries, including the agriculture and animal feed industry. Manufacturers of fish protein hydrolysate faced significant challenges due to supply chain constraints. The supply chain disruptions created a shortage of raw materials, which affected the production and distribution of fish protein hydrolysate, leading to increased prices. These proteins are produced in a limited number of countries, including the US, Denmark, and the UK, which leads to dependency on these countries. Bans on international imports and export in many countries led to the interrupted supply of fish protein hydrolysate during the COVID-19 pandemic.
In 2021, several economies resumed operations as governments announced relaxations in the previously imposed restrictions, which boosted the global marketplace. Manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gap and other repercussions. As a majority of the global population was fully vaccinated by 2021, the fish protein hydrolysate manufacturers focused on increasing their production to revive their businesses.
The report includes the segmentation of the global fish protein hydrolysate market for animal feed application as follows:
The global fish protein hydrolysate market for animal feed application is segmented based on form, application, and geography. Based on form, the market is segmented into dry and liquid. By application, the market is segmented into poultry, ruminants, aquaculture, swine, pets, and others. By geography, the global fish protein hydrolysate market for animal feed application is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, South & Central America, and Central Asia.
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