Fish Protein Hydrolysate Market Research Report - Global Forecast till 2028

Fish Protein Hydrolysate Market Research Report: Information by Source (Anchovy, Herrings, Menhaden, Sardine, andShads), Form (Liquid and Powder), Application (Food, Pharmaceuticals, Animal Feed & Pet food, and Personal Care), and Region (North America, Asia-Pacific, Europe, and the Rest of the World) - Forecast till 2028

ID: MRFR/F-B & N/9105-HCR | June 2021 | Region: Global | 90 pages         

Fish Protein Hydrolysate Market

Fish Protein Hydrolysate Market Size is anticipated to reach USD 560.5 Million by 2028, registering a CAGR of 4.32% during 2021-2028

Segmentation

By Source Anchovy Herrings Menhaden Sardine Shads
By Form Liquid Powder
By Application Food Pharmaceuticals Animal Feed & Pet food Personal Care

Key Players

  • Hofseth BioCare ASA (Norway)
  • Diana Group (Brittany)
  • Bio-marine Ingredients Ireland (Ireland)
  • Copalis (France)
  • Janatha Fish Meal & Oil Products (India)
  • Scanbio Marine Group AS (Norway)
  • Sopropêche (France)
  • Omega Protein Corporation (US)
  • Sociedad Pesquera Landes Sa (Chile)
  • TC Union Agrotech
  • United Fisheries (Thailand)

Drivers

  • Growing consumer inclination toward health-benefiting products
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Fish Protein Hydrolysate Market Overview


Market Research Future (MRFR) anticipates that the fish protein hydrolysate market will be valued at USD 560.5 million by the year 2028. From 2021 to 2028, the worldwide market should gain at a rate of 4.32%, reveals Market Research Future.


Surging focus on fitness as well as health, especially following the outbreak of the coronavirus pandemic, has fostered the health-conscious consumer population. This will be extremely beneficial for the fish protein hydrolysate industry. Post lockdown, and the prevalence of the stay-at-home practice worldwide, consumers are increasingly adopting a healthier lifestyle, which bolsters the preference for the healthy products containing fish protein hydrolysate. Surge in health consciousness among people in the wake of rising prominence of sedentary working condition in conjunction with a stressful and hectic lifestyle also adds to the market value. To deal with the rising number of health conditions brought on by a stressful lifestyle, the focus on a highly balanced diet has grown rapidly, which will augment the market demand in subsequent years. Additionally, the expanding elderly population worldwide that is extremely vulnerable to numerous chronic ailments should escalate the consumption of fish protein hydrolysate-infused products in the ensuing years.


Low awareness level about the health benefits of fish protein hydrolysate in various underdeveloped regions can act against the worldwide market. However, Asia Pacific will be presenting significant opportunities to the global firms, thanks to people increasingly adopting a healthier lifestyle. The inclination towards items that have immunity boosting properties elevate the sales as well.


Soaring production of supplements integrated with fish protein hydrolysate targeting malnourished children will also contribute to the industry growth. The market share is further fostered by the rise in people’s disposable incomes, heightened preference for protein-enriched items, and manufacturers trying to enhance their portfolio as well as ingredient options.


COVID-19 Analysis


The impact of COVID-19 has directly affected the distribution and sales of different products across the industries. Many countries are under lockdown and have sealed their borders to curb the spread of the virus. The impact of COVID-19 on logistics has disrupted the supply of raw materials, which has further reduced production capacity and, thus, product shortages. These factors are expected to cause a price rise in fish protein hydrolysate in the short run. Moreover, fish protein hydrolysate is generallyused for providing nutritional benefits to consumers.The current pandemic scenario is encouraging consumers to consume products with high nutritional benefits. These factors are directly impacting the supply and demand curve for fish protein hydrolysate.


Market Synopsis


The demand for fish protein hydrolysate is increasing from end-use industries such as food and nutrition. The preference for nutrition-rich and chemical-free food products is increasing among consumers, which in turn is expected to boost the growthof the fish protein hydrolysate market. Fish protein hydrolysate contains a significant amount of vitamin A and Dandminerals; owing to this, it has applications in various food products. Moreover, it is used as gelatin in flavored and non-flavored food items because of its translucent property. Fish protein hydrolysate also has various applications in the animal feed and pet food industry, such as it is used in pet food products as a binding agent. Also, owing to its micronutrient properties, it provides numerous health benefits in animals, such as controlling blood pressure levelsand enhancing the growth of bone in animals. Furthermore, it has various applicationsin organic personal care and pharmaceuticals industries; this creates greater opportunities for the manufacturers operating in the fish protein hydrolysate market. Owing to the wide application range of fish protein hydrolysate, the supply chain of a fish protein hydrolysateis witnessingconsistent growth over the past few years and is expected to continue during the forecast period.


Market USP


Numerous health benefits provided by fish protein hydrolysate in several industries


Market Drivers



  • Growingconsumer inclination toward health-benefiting products:The increasing consumer awareness about the benefits of fish proteinis expected to influence the fish protein hydrolysate market. Consumers are increasingly inclining towardsa healthy lifestyle and health-benefiting products. Consumers are becoming health conscious and focusing on health-benefiting products and are even willing to pay a higher amount of money for the products which offer various health benefits. The demand for fish protein hydrolysate is surging in the nutritional supplement industry for manufacturing supplements for malnourished children, which is further expected to drive the fish protein hydrolysate market growth.


Market Restraints


High production cost: Fish protein hydrolysate is manufactured in two forms, including liquid and powder. Liquid fish protein hydrolysate is a watering mixture of hydrolyzed proteins. It contains around 90% of moisture.This water is to be removed from liquid fish protein hydrolysate for the production of powder form of afish protein hydrolysate. Removing such a largeamount of water from liquid fish protein hydrolysateis complicated,and the production cost is expensive. Moreover, the dehydration of fish protein hydrolysate demands an enormous energy supply which is very costly.


Additionally, for the enzymatic hydrolysis of fish protein, hydrolysate consumes a lot of money. It requires special treatment for deactivating the enzymatic hydrolysis, and industrial enzymes also have a high cost. Furthermore, process control difficulties in obtaining a certain molecular mass of the products of protein degradation and the bitterness of final fish protein hydrolysate areexpensive. Thus, the production of fish protein hydrolysate hasa large amount of money, resulting in a restraining factor for the market.


Market Opportunity



  • Growing side effects and allergies related to wheat protein: Wheat allergy can develop in individuals from wheat products. A wheat allergy occurs when the body produces antibodies for proteins found in wheat. If an individual has a wheat allergy, exposure to wheat proteins will lead the immune system toan allergic reaction.Allergy to any four classes of wheat proteins such as globulin, albumin, gliadin, and gluten can be developed. A specific protein in wheat, namely gluten, causes an abnormal immune system reaction in celiac disease. Wheat allergies can create many difficulties in humans including, chest pain or tightness, severe difficulty breathing, nasal congestion, trouble swallowing, and many more. The numerous challenges caused by wheat protein allergies and increasing awareness about wheat allergies among consumers create huge growth opportunities for fish protein hydrolysate.


Market Challenge 



  • Difficulties inpreservation and shipping:The liquid form of fish protein hydrolysate is highly unstable for long-term storage and is very difficult to be transported. Transportation and storage of liquid protein hydrolysate take up a lot of costs. There is a need for quick transportation of by-products to avoid spoilage. There is a high level of difficulty in the collection, storage, and transportation process of fish protein hydrolysate, especially liquid form. Thus, it can be a challenging factor for the market.


Segmentation


By Source



  • Anchovy:Anchovy accounted for the largest market share for the source segment in the global fish protein hydrolysate market. Fish protein hydrolysate obtained from anchovy contains a tremendous amount of nutrients. The growth of the anchovy segment is attributed to the ideal creation and high substance of amino acids in the product. Anchovies generally contain various endogenous chemicals such as chymotrypsin, cathepsin, and trypsin which helpsin the hydrolyzation of proteins. Anchovy also contains cancer prevention properties which makes them appropriate for their applicationin healthful nourishment items; this creates higher opportunities for the anchovy segment in the fish protein hydrolysate market.

  • Herrings

  • Menhaden

  • Sardine

  • Shads


By Form



  • Liquid

  • Powder: Powder dominated the form segment in the global fish protein hydrolysate market. The powder form is an amorphous, spray-dried, and free-flowing substance containing a large amount of proteins. The growth of this market is because of its numerous applications in industrial fermentation, fertilizer, and vet feed for piglets, poultry, fur-bearing animals, aquafeed, and pet food trade. The powder form of a fish protein hydrolysate is quickly soluble in water, off-white in color, and low in fat. Powder form has low production costs associated with energy consumption, operation, and laborsupporting market growth.

  • Furthermore, the demand for fish protein hydrolysate in powder form is more than liquid form owing to the ease of transportation, a longer shelf-life, and easy storage. The rawmaterial cost is also less, as it is a by-product of fish; this helps in fueling the growth of powdered fish protein hydrolysate. Owing to the numerous benefits provided by the powder form of fish protein hydrolysate, the market for powder form has the largest market share and is expected to be the same for the forecast period.


By Application



  • Food

  • Pharmaceuticals

  • Animal feed & Pet food: Animal feed and pet food accounted for the largest share in the fish protein hydrolysate market in the application segment. The growingnumber of transferrable diseases in livestock such as cattle, beef, and cows has increased the incorporation of supplementary additives in animal feed products to improve feed utilization and immune response and enhance the valuable microflora,developing pathogen resistance.This has helped in the growth of the fish protein hydrolysate market in the animal feed and pet food industry. Moreover, the strict regulatory actions regarding antibiotics ban as feed additives because of their ill effects on animals as well as humans havedriven the demand for natural growth promoters such as amino acids, vitamins, probiotics, enzymes, and antioxidants will help inboosting themarket growth.Additionally, the increasing demand for health-benefiting food products and enhancing the protein content in their pets' diets from the owners have further fueled fish protein hydrolysate demand. It also helps enhance feed efficiency, which improves milk, egg, and meat yield along with quality for human consumption, boosting industry growth.

  • Personal care


By Region



  • North America: North America accounted for the largest market share in the global fish protein hydrolysate market and is expected to continue in the same position for the forecast period. The consumers in the region are inclining towards health-benefiting products owing to the increasing health consciousness among consumers. Especially in the personal care industry, millennials are inclined towards cosmetic products manufactured with natural ingredients. Also, demand for anti-aging and collagen enhancing personal care products is surging among consumers. This has led to an upsurge in the growth of fish protein hydrolysate market in the region. These products are extensively used to prepare anti-aging solutions due to their rich protein and amino acid concentration, which helps in quick skin repair. Furthermore, the changing perceptions on skincare productsare increasing the consumer inclination towards high-quality anti-aging solutions. Consumers are highly aware of the dermatological aspects of health care which is expected to drive the demand for protein-rich personal care products in the region. Owing to this, manufacturers are introducing natural and protein-rich cosmetic products; this is expected to fuel the growth of the fish protein hydrolysate market in the region, as they are rich in proteins and provides numerous health benefits. 

  • Europe


Asia-Pacific: Asia-Pacific is anticipated to grow the fastest during the forecast period. Consumers are increasinglyadoptinga healthy lifestyle and inclining towards health-benefiting products. Also, the awareness about numerous health benefits provided by fish protein is increasing among consumers, encouraging manufacturers to focus on the usage of fish protein hydrolysate in various products. Furthermore, the demand for fish protein hydrolysate is increasing in the production of nutritional supplements for malnourished children, which is further expected to boost the market growth in the region. Additionally, the increasing disposable income of the consumers is also expected to drive market growth over the forecast period. Consumers are looking for more protein-enriched products. Manufacturers focus on adding products such as fish protein hydrolysate in the portfolio and ingredient choices.



  • Rest of the World


Recent Development

February 2022


Walking Fish Therapeutics, a leader in B cell therapeutics, today announced the completion of an oversubscribed Series A financing, raising a total of $73 million. The additional investment, co-led by Northpond Ventures and First Spark Ventures, with support from Terra Magnum Capital Partners, will be used to advance a pipeline of B cell therapeutics for oncology, rare disease, regenerative medicine, autoimmune disease, and recombinant antibody production. Walking Fish's platform for protein factories and oncology applications has continued to demonstrate positive preclinical data across multiple indications. The additional proceeds will accelerate platform development and further establish Walking Fish as the leader in the rapidly emerging B cell therapeutics field.


Competitive Landscape


Some of the key players operating in the global fish protein hydrolysate market are Hofseth BioCare ASA (Norway), Diana Group (Brittany), Bio-marine Ingredients Ireland (Ireland), Copalis (France), Janatha Fish Meal & Oil Products (India), Scanbio Marine Group AS (Norway), Sopropêche (France), Omega Protein Corporation (US), Sociedad Pesquera Landes Sa (Chile), and TC Union Agrotech and United Fisheries (Thailand). These players are expected to positively influence the global fish protein hydrolysatemarket growth during the forecast period.



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