Fish Protein Isolates Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Form (Powder and Liquid) and Application (Pharmaceuticals & Nutraceuticals, Food & Beverages, Personal Care, and Animal Nutrition)

The scope of our recent study on the "Fish Protein Isolates Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Form, and Application" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

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The fish protein isolates market is expected to grow from US$ 1,187.04 million in 2022 to US$ 1,534.01 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2022 to 2028. The increased awareness among millennials regarding personal health and fitness and physical appearances, especially after the onset of the COVID-19 pandemic, boosted the demand for dietary supplements, such as health-boosting vitamins, minerals, and proteins. Due to the hectic work schedules and changing lifestyles of millennials, their dependence on dietary supplements to fulfill their nutrient requirements has increased. Owing to the growing number of fitness centers, health clubs, and gymnasiums, the demand for dietary supplements is increasing among health-conscious millennials. Fish protein isolates are primarily used in supplements as they contain low-fat, high-quality proteins; omega-3 fatty acids; and vitamins such as D and B2. It is also rich in calcium and phosphorus and is a good source of minerals such as iron, zinc, iodine, magnesium, and potassium. Therefore, the surge in demand for dietary supplements, such as fish protein isolates, among millennials is expected to propel the fish protein isolate market.

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Based on application, the fish protein isolates market is segmented into pharmaceuticals and nutraceuticals, food and beverages, personal care, and animal nutrition. The pharmaceuticals and nutraceuticals segment held the largest share in 2021 and is projected to register the highest CAGR during the forecast period. Due to the antioxidant, antimicrobial, and antiaging properties of fish protein isolates, it is highly used in the pharmaceutical & nutraceuticals industry. Pharmaceuticals and nutraceuticals that are rich in fish protein can help prevent acute and chronic diseases, delay the aging process, increase life expectancy, and support the basic structure and functions of the body.

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The fish protein isolates market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America held the largest share of the fish protein isolates market in 2021. However, APAC is expected to register the highest CAGR during the forecast period. North America is one of the most significant regions for the fish protein isolates market due to the increasing demand for protein rich food products and rising awareness regarding health benefits of fish protein isolates. In addition, the growing consumption of fish protein isolates as protein rich dietary supplements to boost the overall health of consumers is expected to fuel the market growth in North America.

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Impact of COVID-19 Pandemic on Fish Protein Isolates Market

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The imposition of lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic hampered the growth of the economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). These shutdowns disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the bans imposed by governments of several countries in Europe, Asia Pacific, and North America on international travel forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the food & beverages, personal care, and animal nutrition industries in 2020 and early 2021, which restrained the growth of various markets related to these industries, including the fish protein isolates market.

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Economies resumed their operations gradually in 2021, propelling the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them consolidate their efforts toward bridging the gap between demand and supply. Once the vaccination drives were completed, the manufacturers started to increase their production.

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1.1.1 Fish Protein Isolates Market Breakdown - by Region

The report segments the fish protein isolates market as follows:

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Based on form, the fish protein isolates market is bifurcated into powder and liquid. Based on application, the market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and animal nutrition. Based on geography, the fish protein isolates market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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