Fish Protein Market
The global Fish Protein Market generated $3.08 billion in 2018, and is estimated to reach $4.20 billion by 2026, registering a CAGR of 4.0% from 2019 to 2026.The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario. Fish protein serves as a rich food additive, which extracted from whole fish. Three types of fish protein extracts are available in the market, which include fish protein concentrate (FPC), fish protein hydrolysate (FPH), and fish protein isolate (FPI).
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The growth of the global fish protein is majorly driven by factors such as upsurge in demand for fish meal in the livestock industry, owing to rise in awareness about toxic effects of chemical-based animal feed products. Moreover, alarming increase in prevalence of obesity and rise in fascination among youth to gain muscle mass propel the demand for fish protein. In addition, surge in incidence of poultry diseases boosts the demand for fish protein.
Based on region, Europecontributed the highest share, accounting for more than one-third of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 5.6% from 2019 to 2026.
Key Players Are:
The key players profiled in global fish protein industry include Apelsa Guadalajara, Aroma NZ, Bevenovo Co., Limited, BioOregon Protein, Mukka Seafood Industries, New Alliance Dye Chem Pvt. Ltd, Nutrifish, Qingdao Future Group, Scanbio Marine Group, and Taian Health Chemical Co., Ltd.
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According to the fish protein market analysis in 2018, the fish protein concentrate segment generated the highest revenue, and is expected to remain dominant throughout the forecast period. This is attributed to increase in adoption of fish meal in the poultry industry. However, the fish protein hydrolysate (FPH) segment is expected to grow at the highest CAGR throughout the forecast period, due to increase in adoption of fish protein hydrolysate (FPH) in pharmaceutical and cosmetic industries.
Key Findings of the Study:
-> By type, the fish protein hydrolysate (FPH) segment is expected to witness the fastest growth, registering a CAGR of 4.90% during the forecast period.
-> In 2018, depending on application, the animal feed segment held the highest share, accounting for more than half of the global market share.
-> China was the most prominent market in the Asia-Pacific region in 2018, and is expected to grow at a significant CAGR throughout the forecast period.
-> North America was the dominant region in 2018, accounting for more the one-third of the global fish protein market share.
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The report segments the global fish protein market into type, application, and region. On the basis of type, the market is divided into fish protein concentrate (FPC), fish protein hydrolysate (FPH), and fish protein isolate (FPI). The applications covered in the study include animal feed, pharmaceutical, and cosmetics. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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