PUBLISHER: The Insight Partners | PRODUCT CODE: 1296778
PUBLISHER: The Insight Partners | PRODUCT CODE: 1296778
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.
Fish protein hydrolysate (FPH) is a breakdown product of fish proteins containing smaller peptides and amino acids. FPH is obtained by treatment of fish meat with trypsin, chymotrypsin, pepsin, or other enzymes under controlled conditions of pH and temperatures. 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. FPHs can enhance animals' metabolic systems, which protects them from the risk of diseases and infections.
Based on application, the global fish protein hydrolysate market for animal feed application is segmented into poultry, ruminants, swine, aquaculture, pets, and others. The poultry segment held the largest share of the global fish protein hydrolysate market for animal feed application in 2022. The poultry segment is further divided into layers, broilers, and others. The poultry feed industry also witnessed higher production of broilers and layers feed. According to "The 2023 Alltech Agri-Food Outlook" article, released on January 2023, the demand for layer-sector feed production increased by 0.31%, while the overall broiler feed sector grew by 1.27%. Fish protein hydrolysate (FPH) is considered a rich protein source; hence, it is extensively used in poultry feed production. Thus, fish protein hydrolysate (FPH) has various applications in poultry feed supplements.
Asia Pacific is expected to register the highest CAGR in the global fish protein hydrolysate market for animal feed application over the forecast period. Asia Pacific raises the second largest aquafeed demand, after North America, which results in high animal feed production in the region. According to the Alltech Global Feed Survey 2021, China ranks first in world feed production, with ~240 million tons of feed produced annually. Thus, with the increasing feed production, Asia Pacific is a lucrative market for feed ingredient providers.
Hence, from all above-mentioned factors, the well-established feed industry, and aquaculture production resulted in increase in overall animal feed intake. Also, the demand for fish protein hydrolysate in Asia Pacific is mainly driven by the increasing use of protein-rich ingredients in feed, coupled with rising animal production in the region is further projected to augment the demand for fish protein hydrolysate.
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. These companies are highly involved in research and development activities to launch fish protein hydrolysate for animal feed at competitive prices. Moreover, these companies are adopting new technologies to scale up their production to meet the rising demand for feed protein across the globe. These companies are also receiving government grants, approvals, and financial assistance to develop microbial protein that can commercially substitute conventional sources of feed proteins such as soybean meal and fish meal. Thus, strategic development initiatives by these major players in the market are anticipated to drive the fish protein hydrolysate market for animal feed application.
The overall global fish protein hydrolysate market for animal feed application size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the fish protein hydrolysate market for animal feed application.