PUBLISHER: The Insight Partners | PRODUCT CODE: 1389633
PUBLISHER: The Insight Partners | PRODUCT CODE: 1389633
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.
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 food& beverages, pharmaceuticals & nutraceuticals, animal feed, personal care, and agriculture. Thus, due to wide range of applications, the fish protein hydrolysate market is expected to drive globally.
Based on application, the global fish protein hydrolysate market for animal feed application 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. The animal feed segment held the largest share of the global fish protein hydrolysate market in 2022. The emergence of transferrable diseases in livestock such as beef, cattle, poultry, and cows has led to an upsurge in the incorporation of supplementary additives in feed for enhancing immune response, feed use, and improve valuable microflora thereby developing pathogen resistance should drive the demand for animal feed additives such as fish protein hydrolysate in animal feed. Moreover, surging poultry feed industry further expected to boost the demand for fish protein hydrolysate. 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.
Asia Pacific is expected to register the highest CAGR in the global fish protein hydrolysate market over the forecast period. Owing to the traditional use of fish protein in health, skincare, and hair care, production of the fish protein hydrolysate in the area is mostly consumed at a local level. Due to the various health, personal benefits, the region is consuming the fish protein hydrolysate at a faster pace. Hydrolyzed protein from fish is used mainly in skin conditioners, moisturizers, and hair conditioners. Growth in cosmetic products production in developed and developing countries such as Japan, South Korea, and India is projected to boost fish protein hydrolysate demand in this area. These factors are expected to propel the fish protein hydrolysate market growth in the region.
The key players operating in the global fish protein hydrolysate market include 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 Sopropeche. These companies are highly involved in research and development activities to launch fish protein hydrolysate at competitive prices. Moreover, these companies are adopting new technologies to scale up their production to meet the rising demand across the globe. Thus, strategic development initiatives by these major players in the market are anticipated to drive the fish protein hydrolysate market.
The overall global fish protein hydrolysate market 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.