Rising Growth of Aquaculture Industry to Drive Fish Protein Hydrolysate Market
According to our latest market study on “Fish Protein Hydrolysate Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Form and Application,” the fish protein hydrolysate market size is expected to grow from US$ 498.07 million in 2022 to US$ 748.66 million by 2030; it is estimated to register a CAGR of 5.2% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Fish protein hydrolysate is defined as a blend of degraded proteins that are extracted by the protein hydrolysis of fish material or fish. It is a bioactive compound produced by decomposing the minced fish together with enzymes and involves breaking down proteins into smaller peptides and amino acids. Fish protein hydrolysate is generally produced through enzymatic hydrolysis technique. The process of enzymatic hydrolysis requires the use of expensive enzymes such as chymotrypsin, pepsin, alcalase, and trypsin, which increases the cost of production.
Global Fish Protein Hydrolysate Market Breakdown – by Region
Fish has a high protein content and low cholesterol; therefore, the demand for fish and fish-related products has increased globally. As per the Food and Agriculture Organization (FAO), global capture fisheries production was 90.3 million tons in 2020. The fishery industry is growing due to improved aquaculture production, changing cultural preferences, and surging demand for fish and seafood. The increasing number of fisheries generates a large volume of waste almost every year, estimated at nearly 60% of the biomass. The waste is processed and used to manufacture fish protein hydrolysate. Fish farming is one of the world's fastest-growing food production segments, creating a massive opportunity for fish protein hydrolysate market growth. Furthermore, fish protein hydrolysate has been used in aquaculture feed to enhance fish growth and survival. It promotes the overall development and immunity of numerous culture species. The amino acid composition and the fish protein hydrolysate peptides are responsible for the healthy growth of various fish species. This factor drives the fish protein hydrolysate market growth.
In aquaculture, FPH demand is gaining massive momentum as it enhances the metabolic system of species that protect them from the risk of diseases and infections. Thus, aquafeed producers are increasingly adopting effective feeding practices and incorporating health-promoting compounds such as proteins, hydrolysates, and bioactive peptides, including fish protein hydrolysate. Due to these factors, the growing aquaculture industry is expected to create lucrative opportunities for the FPH market in the coming years.
The key players operating in the global fish protein hydrolysate market include Copalis Industry Bio-marine Ingredients, Ireland Limited, Copalis Sea Solutions, CR Brown Enterprises, Diana Group, Hofseth BioCare ASA, Janatha Fish Meal & Oil Products, Marutham Bio Ages Innovations (P) Ltd, SAMPI, Scanbio Marine Group AS, and Sopropêche. They 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
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, personal care, pharmaceuticals & nutraceuticals, food & nutraceuticals, 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 exports in many countries led to the interrupted supply of fish protein hydrolysate during the COVID-19 pandemic, which negatively impacted the fish protein hydrolysate market growth during the pandemic.
However, trends for pet humanization increased because of the COVID-19 pandemic, surging the demand for fish protein hydrolysate among the pet food manufacturers. In 2021, several economies resumed operations as governments announced relaxations in the previously imposed restrictions, which boosted the global marketplace. Manufacturers in the S 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 as follows:
- The global fish protein hydrolysate market is segmented on the basis of form, application, and geography. By form, the market is bifurcated into dry and liquid. In terms of application, the market is segmented into animal nutrition, food & beverages, pharmaceuticals & nutraceuticals, personal care, and agriculture. Further, the animal nutrition segment is subdivided into poultry, ruminants, swine, aquaculture, pets, and others. Geographically, the global fish protein hydrolysate market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
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