Fish Protein Market by Type, Form, Application, Distribution Channel

List of Tables

[184 Pages Report] The Fish Protein Market size was estimated at USD 1.86 billion in 2023 and expected to reach USD 1.98 billion in 2024, at a CAGR 6.67% to reach USD 2.93 billion by 2030.

Fish protein refers to the protein extracted from fish sources, including the muscle (meat), waste products (such as offal), or specific extracts such as fish protein hydrolysates and isolates. This protein is valued for its high-quality amino acid profile, digestibility, and nutritional benefits, including essential fatty acids, including omega-3, which contribute to various health and nutritional benefits such as improved heart health and cognitive function. Increasing awareness about the health benefits of protein consumption, particularly the high-quality protein and omega-3 fatty acids found in fish, drives consumers towards fish protein products. With rising environmental concerns, fish protein is seen as a more sustainable alternative to other animal proteins, given its lower carbon footprint when sourced responsibly. The expanding aquaculture industry provides a more controlled supply of fish for protein extraction, supporting market growth. However, overexploitation of marine resources poses a significant threat to fish populations, impacting the availability of raw materials for fish protein production. Moreover, fish is a common allergen, and fish protein can have a strong flavor and odor that may be undesirable in food products, posing a challenge to consumer acceptance. Innovations to improve the sensory attributes of fish protein and fish products can improve consumer acceptance of fish-based food items. Fish protein has potential growth opportunities in the nutraceutical sector, where its high-quality protein and amino acids can be marketed for muscle health, weight management, and other functional benefits.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.86 billion
Estimated Year [2024]	USD 1.98 billion
Forecast Year [2030]	USD 2.93 billion
CAGR (%)	6.67%

Regional Insights

In the Americas region, particularly in the United States and Canada, the demand for fish protein is primarily driven by the health-conscious consumer segment. The Americas region has a significant number of consumers adopting pescatarian, flexitarian, and plant-forward diets that incorporate high-quality fish protein for its omega-3 fatty acids and low-fat content. The market shows a trend towards sustainable and traceable seafood sources due to growing environmental awareness. Investments and innovations in aquaculture technologies are also prominent, aiming to boost local fish production and reduce dependency on imports. European Union consumers show a sophisticated understanding and demand for sustainable and responsibly sourced fish protein. There is a strong regulatory framework here guiding fish protein products, focused on environmental impact and food safety, significantly influencing consumer preferences and behaviors. EU countries have seen a rising trend in functional and fortified fish products, catering to an aging population concerned with health and wellness. Countries such as Norway and Iceland are driving fish-related research and sustainable fishing technologies, influencing wider regional practices. The APAC region has varied consumer needs and behaviors regarding fish protein consumption. Japan, with a long-standing tradition of fish consumption, prioritizes high-quality, premium fish protein products and has numerous patented technologies related to fish processing and preservation. China, South Korea, and India are currently experiencing a rise in fish protein demand due to increasing awareness of its health benefits, with more startups emerging to meet this need through innovative distribution and marketing strategies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Fish Protein Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising consumer awareness about the health benefits of including protein in daily diet
- Expanding aquaculture activities and government support for fish production
- Increasing use of fish meal as animal fodder across the world

Market Restraints
- Issues related to fish allergies and unpalatable fishy odor and flavor of fish protein

Market Opportunities
- Ongoing innovations to improve the flavor, texture, and nutritional profiles of fish protein
- Trend toward sustainable production of fish, fish products, and fish proteins

Market Challenges
- Environmental and biodiversity concerns related to fish overexploitation

Market Segmentation Analysis
- Type: Widespread adoption of fish protein hydrolysate (FPH) owing to its versatility and ease of incorporation into various food and medical products
- Application: Growing need for animal feed to meet the nutritional requirements of various types of animals

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Fish Protein Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Fish Protein Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Pioneering Advancement in Cultivated Fish Technology: EFISHient Protein's Tilapia Cell Line Development

EFISHient Protein achieved a significant advancement in cultivated meat technology by successfully developing a Tilapia cell line. This development enables the production of muscle and fat cells critical for creating a genetic cell bank for Tilapia. This achievement is a key innovation in establishing sustainable fish production methodologies, aligning with global efforts to provide environmentally friendly alternatives in the fish products industry. [Published On: 2024-04-09]

Innovative Expansion in Cultivated Seafood and Biotechnology: Avant Meats Leverages Novel Proteins for Cosmeceuticals

Avant Meats, a player in the cultivated seafood industry in China, is poised to amplify its production capabilities by transitioning from 250L to 2000L bioreactors at its Singapore-based pilot plant by 2025. Beyond seafood, the company has ventured into biotechnological applications with its creation of Zellulin, a cell-based protein tailored for the cosmeceutical industry. Zellulin combines marine protein peptides designed to enhance antioxidative functions, promote regeneration, and repair skin. [Published On: 2024-04-02]

Innovative Protein Hydrolysate Production in Portugal for Aquaculture Enhancement

Sebol, a subsidiary of the ETSA Group, is set to establish Portugal's inaugural hydrolyzed protein facility, dedicated to utilizing animal by-products in the production of protein hydrolysates. Specifically targeting the nutritional needs of seabass and seabream, this venture promises to enhance fish feed efficacy by integrating advanced processing technologies. The project underscores Portugal's commitment to sustainable aquaculture practices and innovation in the fishing industry. [Published On: 2024-01-17]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Fish Protein Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Fish Protein Market, highlighting leading vendors and their innovative profiles. These include Advance International, Inc., Apelsa Guadalajara S.A. de C.V., Aroma NZ, Bio Phoenix Formulations, Bio-marine Ingredients, Ireland Limited, Colpex International Inc., E.F.S.-Holland B.V., Guaymas Protein Company S.A. de C.V., Hofseth BioCare ASA, Janatha Group, Kemin Industries, Inc., Mukka Proteins Limited, New Alliance Dye Chem Pvt. Ltd., Omega Protein Corporation, PeterLabs Holdings Berhad, Scanbio Marine Group AS, Siam International Food Co., Ltd., Symrise Group, and Vita Actives Ltd..

Market Segmentation & Coverage

This research report categorizes the Fish Protein Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Fish Protein Concentrate (FPC)
- Fish Protein Hydrolysate (FPH)
- Fish Protein Isolate (FPI)

Form
- Liquid
- Paste
- Powder

Application
- Animal Feed
- Cosmetics
- Dietary Supplements & Functional Foods
- Pharmaceuticals

Distribution Channel
- Offline
- Online

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-5D693B46C667

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising consumer awareness about the health benefits of including protein in daily diet
  - 5.1.1.2. Expanding aquaculture activities and government support for fish production
  - 5.1.1.3. Increasing use of fish meal as animal fodder across the world
- 5.1.2. Restraints
  - 5.1.2.1. Issues related to fish allergies and unpalatable fishy odor and flavor of fish protein
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing innovations to improve the flavor, texture, and nutritional profiles of fish protein
  - 5.1.3.2. Trend toward sustainable production of fish, fish products, and fish proteins
- 5.1.4. Challenges
  - 5.1.4.1. Environmental and biodiversity concerns related to fish overexploitation
5.2. Market Segmentation Analysis
- 5.2.1. Type: Widespread adoption of fish protein hydrolysate (FPH) owing to its versatility and ease of incorporation into various food and medical products
- 5.2.2. Application: Growing need for animal feed to meet the nutritional requirements of various types of animals
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Fish Protein Market, by Type

6.1. Introduction
6.2. Fish Protein Concentrate (FPC)
6.3. Fish Protein Hydrolysate (FPH)
6.4. Fish Protein Isolate (FPI)

7. Fish Protein Market, by Form

7.1. Introduction
7.2. Liquid
7.3. Paste
7.4. Powder

8. Fish Protein Market, by Application

8.1. Introduction
8.2. Animal Feed
8.3. Cosmetics
8.4. Dietary Supplements & Functional Foods
8.5. Pharmaceuticals

9. Fish Protein Market, by Distribution Channel

9.1. Introduction
9.2. Offline
9.3. Online

10. Americas Fish Protein Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Fish Protein Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Fish Protein Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Pioneering Advancement in Cultivated Fish Technology: EFISHient Protein's Tilapia Cell Line Development
- 13.3.2. Innovative Expansion in Cultivated Seafood and Biotechnology: Avant Meats Leverages Novel Proteins for Cosmeceuticals
- 13.3.3. Innovative Protein Hydrolysate Production in Portugal for Aquaculture Enhancement
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio