Fish Protein Hydrolysate (FPH) Market REPORT OVERVIEW
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The global fish protein hydrolysate (FPH) market was USD 236.1 million in 2022 and market is projected to touch USD 316.69 million by 2031, exhibiting a CAGR of 3.3% during the forecast period.
The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Fish protein hydrolysate (FPH) is a fish protein containing smaller peptides and amino acids with a breakdown process. It is obtained by treatment of fish meat with alcalase, trypsin, pepsin, chymotrypsin, or other enzymes. The method used for the enzymes should be under controlled conditions of pH and temperatures.
Growing demand for maintaining skin health among population is predicted to boost market growth. Increasing consumer preferences toward consumption of chemical-free and nutrient food products is expected to propel market growth. Rising demand for fish protein hydrolysate from several end-use industries is expected to increase market growth. Also, presence of significant amount of vitamin D and A, and minerals in the product, where it is commonly used as an ingredient in various food products are projected to drive market growth. Further, increasing health benefits such as enhancing the growth of bone, anti-anging properties for skin and controlling blood pressure levels may boost market growth. In addition, it is used as an organic nutria cosmeceutical is expected to accelerate fish protein hydrolysate (FPH) adoption.
COVID-19 Impact: Closure of Restaurants and Outside Dining to Hamper Market Growth
An outbreak of COVID-19 had spread globally. According to the WHO, COVID-19 was a public health emergency. Pandemic has affected market growth due to travel bans, lockdown and business shutdowns. The global food & beverage industry witnessed manufacturing disruptions, supply chain brakes, and decline in production facilities due to lockdown. Fish protein hydrolysate (FPH) market witnessed a slowdown in the sales and delay in the delivery schedules. Closure of restaurants, resorts, and other eatery places hampered fish protein hydrolysate (FPH) demand.
On the contrary, growing demand for healthy food habits during pandemic is expected to propel market growth. Also, rising awareness to control the spread of virus encouraged the deman for high protein food to fight against the virus is projected to drive market growth.
LATEST TRENDS
"Increasing Consumer Preference for Healthy Diet to Incite Market Growth "
The growing awareness about the benefits of fish protein is expected to influence market growth. Increasing disposable income of consumers is also projected to drive market growth. Also, consumers’ inclination towards healthy lifestyle and growing demand for protein enriched products are anticipated to increase market growth. The product is a high source of essential fatty acids that aid to maintain blood pressure and cardiovascular health. In addition, benefits of fish protein are encouraging manufacturing nutritional supplement for children is predicted to accelerate market growth. Offering such protein in sports beverages, protein drinks, and nutritional supplements is expected to boost product demand. Increasing demand for health enthusiasts in recent years is creating lucrative opportunities for the fish protein hydrolysate (FPH) market.
Fish Protein Hydrolysate (FPH) Market SEGMENTATION
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- By Type
Based on type, the market is divided into high purity and low purity.
High purity is the leading part of the type segment.
- By Application
On the basis of application, the market is classified into food, feed industry, pharmaceuticals, cosmetic, and others.
Food is the leading part of the market application.
DRIVING FACTORS
"Rising Demand for Nutri-Cosmeceuticals to Develop Market Growth "
Fish protein is a rich source of micronutrients that is best known for exhibiting anti-aging properties for the skin. Pharmaceuticals industry is also providing wide opportunities for manufacturing in the market. Increasing number of investments in the organic cosmetics may propel market growth. Also, growing demand for organic cosmetics is expected to boost product demand. The product has multiple benefits such as controlling blood pressure, improving skin texture, great for hair growth, and enhancing bone growth. Such benefits are projected to boost fish protein hydrolysate (FPH) market growth during the forecast period.
"Increasing Demand for Animal Feed and Pet Food to Encourage Market Growth "
Increasing awareness regarding rich in protein animal feed products may boost market growth. Increasing need for pet food globally is projected to drive market growth. Also, ban on the use of mammalian meat and bone meal protein is likely to shift attention towards fish protein hydrolysate in the coming years. Growing awareness regarding the importance of high-quality nutritious animal feed among animal farmers is predicted to promote market growth. Further, growing environmental concerns such as reducing oxygen levels in seawaters and smothering are projected to drive market growth during the forecast period.
"Growing Inclination toward Chemical Free Food Products to Boost Market Growth "
Increasing consumer preferences towards chemical-free and high in protein food products is expected to boost market growth. Fish protein contains translucent property broadly used in flavored and non-flavored foodstuff. It also contains essential amino acids, which is a great choice for dietary supplements or functional food is expected to offer great opportunities for the fish protein hydrolysate (FPH) market during the forecast period.
RESTRAINING FACTORS
"High Cost of the Product to Restrict Market Growth "
High costs associated with the product may hamper product growth. Also, increase cost of the overall production cost is projected to restrict fish protein hydrolysate (FPH) demand. Stringent legal policies imposing restrictions on fishing activities in some countries may decline market growth during the forecast period.
Fish Protein Hydrolysate (FPH) Market REGIONAL INSIGHTS
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"Growing Preference for Health Lifestyle in North America to Fuel Market Share"
North America is expected to hold the most prominent share in the fish protein hydrolysate (FPH) market share globally due to the population moving toward a heathy lifestyle. Increasing health concerns among consumers to drive market growth. Also, animal and plant food are a great source to boost energy levels, bone structure, and strengthen muscle, and other health benefits are projected to drive product demand in the region.
KEY INDUSTRY PLAYERS
"Leading Players Adopt Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Green Earth Industries (U.S.)
- Neptunes Harvest (U.S.)
- Soc Pesquera Landes SA (U.S.)
- Bluewave Marine Ingredients (Switzerland)
- TripleNine Group (Australia)
- Symrise AG (Germany)
- Hofseth BioCare ASA (Norway)
- Omega Protein (U.S.)
- Natural Factors (U.S.)
- WEISHARDT (Japan)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 236.1 Million in 2022 |
Market Size Value By |
US$ 316.69 Million by 2031 |
Growth Rate |
CAGR of 3.3% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the fish protein hydrolysate market expected to touch by 2031?
The global fish protein hydrolysate (FPH) market is expected to reach USD 316.69 million by 2031.
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What CAGR is the fish protein hydrolysate market expected to exhibit by 2031?
The fish protein hydrolysate market is expected to exhibit a CAGR of 3.3% by 2031.
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Which are the driving factors of the fish protein hydrolysate market?
Drivers of this market are increasing consumer preference for healthy diet, rising demand for nutri-cosmeceuticals, and growing inclination toward chemical-free food products.
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Which are the top companies operating in the fish protein hydrolysate market?
Green Earth Industries, Neptunes Harvest, Soc Pesquera Landes SA, Bluewave Marine Ingredients, TripleNine Group, Symrise AG, Hofseth BioCare ASA, Omega Protein, Natural Factors, and WEISHARDT.
