Fish Protein Concentrate Market Estimated to Grow at a CAGR of 6.7% During the Forecast Period 2020-2025

Fish Protein Concentrate Market size is estimated to be 102 Million in 2019, growing at a CAGR of 6.7% during the forecast period 2020-2025. Fish protein concentrate is any stable fish preparation, intended for human consumption, in which the protein is more concentrated than in the original fish. Moreover, fish protein concentrate can be prepared from any type of fish or fishery waste. It is prepared from the fish by extracting out the oil, screening, or settling out the bones and drying, so that the resultant product (Fish Protein Concentrate) is higher in protein and lower in ash content than fish meal. Rising demand of fish protein concentrate in the production of various health supplements, food and beverages is enabling manufactures to develop new products which in turn is boosting its market growth. Apart from this the demand of fish protein concentrate in specialized feeding application with mongastric animals, such as in milk replacers or starter feeds as it an excellent source of highly digestible amino acids. In addition, government initiatives for supporting fish protein concentrate industry is further propelling its demand. For instance, the U.S. Department of Commerce National Oceanic and Atmospheric Administration is responsible for the management of the nation’s fishery resources in the U.S. territorial waters and also operates a voluntary seafood inspection and grading program.

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By Form- Segment Analysis

By Form, the Fish Protein Concentrate Market is segmented into Liquid and Powder. Powder held the major market share in 2019, owing to the wide usage of powder in beverages and supplements. Moreover, the rising awareness of dried fish protein powder for food fortification and production of value added/functional food have encouraged the food industry to examine different methods for developing fish protein ingredient from different raw materials. In addition, the fish protein powder is a dried and stable fish product, intended for human consumption, in which the protein is more concentrated than in the original fish flesh. Also, liquid segment is projected to witness growth at fastest CAGR of 7.3% in forecast period 2020-2025 owing to its wide usage as an organic fertilizer in industrial fermentation, in vet feed formulation for various animals as piglets, poultry, aqua feed, pet feed and fur bearing animals.

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By Application- Segment Analysis

By Application, the Fish Protein Concentrate Market is segmented into Food Processing, Cosmetics, Animal Feed, Nutraceuticals and Others. Cosmetics segment held the largest market share in the year 2019 owing to several benefits provided by the fish protein concentrate as it is a rich source of bioactive compounds such as protein and peptides. Moreover, the bioactive protein and peptides derived from marine fish have gained enormous interest in nutraceutical and cosmetic industry owing to the wide usage of bioactivities including antioxidant, antimicrobial and anti-ageing activities. In addition, recent developments of cosmeceuticals using marine-fish derived protein and peptides obtained from chemical or enzymatical hydrolysis of fish-processing by products has increased rapidly owing to their activities in antioxidation and tissue regeneration. Also, animal feed segment is projected to witness growth at fastest CAGR of 7.1% in forecast period 2020-2025 owing to its feeding application with monogastric animals.

Geography- Segment Analysis

North America contributed to the largest market share of more than 37% owing to the presence of large dominant players in the region including Advance International. Growing geriatric population and the increasing benefits of fish protein concentrate is a significant factor fueling its market growth in that region. Moreover, FDA publishes the Fish and Fisheries products hazards and controls guidance, an extensive compilation of the most up-to date science and policy on the hazards that affect fish and fishery products and effective controls to prevent their occurrence. APAC Fish Protein Concentrate market is another dominant market owing to the presence of Seasaga Group is the largest and oldest frozen seafood processing and exporting companies in India.

Drivers – Fish Protein Concentrate Market

Rising demand of Fish Protein Concentrate in Cosmetics and Personal Healthcare Products

Rising demand of fish protein concentrate in cosmetic and personal healthcare products is a major factor driving the Fish Protein Concentrate Market during the forecast period 2020-2025. Growing population and the will to adopt different types of healthcare products and cosmetics is further propelling the demand of fish protein concentrate in the upcoming years.

Increasing demand of Fish Protein Concentrate in Pharmaceuticals

Increasing demand of fish protein concentrate in pharmaceuticals is a major factor driving the Fish Protein Concentrate Market during the forecast period 2020-2025. 2025. Moreover, Fish guts have been found to yield fine grade absorbable suture which can be used for microsurgeries, ophthalmic surgery etc. In addition, fish calcium powder processed from the backbone of tuna can be used to combat calcium deficiency in children. This has led to increase in the demand of fish protein concentrate in the upcoming years.

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Challenges – Fish Protein Concentrate Market

Short-Shelf Life

Short-self life serves as a major setback for the growth of the Fish Protein Concentrate Market during the forecast period 2020-2025.It usually contain rancid fat which destroys certain vitamins and lower the value of proteins. Therefore, these are key factors restraining its market growth in the upcoming years.

Fish Protein Concentrate Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Fish Protein Concentrate Market. Fish Protein Concentrate Market top 10 companies are Apelsa Guadalajara, Aroma Nz, Bevenovo, Limited, BioOregon Protein, Mukka Seafood Industries, New Alliance Dye Chem Pvt Ltd, Nutrifish, Qingdao Future Group, Scanbio Marine Group and AACL Bioflux.

Key Takeaways

Powder held the major market share in 2019, owing to the wide usage of powder in beverages and supplements.

Cosmetics segment held the largest market share in the year 2019 owing to several benefits provided by the fish protein concentrate as it is a rich source of bioactive compounds such as protein and peptides.

North America contributed to the largest market share of more than 37% owing to the presence of large dominant players in the region including Advance International.

Increasing demand of fish protein concentrate in pharmaceuticals is a major factor driving the Fish Protein Concentrate Market during the forecast period 2020-2025.

Related Reports :

A. Fishmeal & Fish Oil Market
https://www.industryarc.com/Research/Fishmeal-Fish-Oil-Market-Research-505064

B. Fish Farming Market
https://www.industryarc.com/Research/Fish-Farming-Market-Research-507304

For more Food and Beverages Market reports @ https://www.industryarc.com/Domain/6/food-beverages-market-research.html

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