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.
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.
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.
Numerous health benefits provided by fish protein hydrolysate in several industries
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.
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.
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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.