The global fish protein hydrolysate market size is projected to reach USD 361.5 million by 2027 registering a CAGR of 5.1%, according to a new report by Grand View Research, Inc. The demand for Fish Protein Hydrolysate (FPH) is projected to be driven by the growing consumption of chemical-free and nutrient-rich food products among consumers across the globe. On account of the presence of vitamin A & D and minerals, the product is utilized as an ingredient in various food applications.
It is also used in the manufacturing of animal feed products and as a binding and gelling agent in pet food products, including fishmeal. Since FPH is a rich source of micronutrients and fatty acids, it provides several health benefits, such as boosting the metabolic system and aiding in the development of healthier skin and bones in animals.
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Furthermore, rising preference for good-quality liquid and solid packaged pet food products over the traditional home-cooked foods is estimated to support the market growth. The rapid incorporation of dried/powdered hydrolyzed fish protein in various cat foods, as a result of the product’s economical nature, taste refining characteristics, and easy availability is anticipated to spur the market growth over the next few years.
On the basis of source, anchovy-based protein hydrolysate led the global market and is projected to record a CAGR of 5.1%, in terms of revenue, from 2020 to 2027. Anchovy protein hydrolysate consists of vital amino acids, including proline, tryptophan, lysine, and tyrosine. When incorporated with functional food products, these amino acids help in boosting the basic metabolic system and enhance cognitive performance in human beings.
Asia Pacific is expected to witness the fastest CAGR over the forecast years on account of the rising consumption of animal-rich protein sources. Changing lifestyles and rapid urbanization are affecting consumer consumption patterns. In addition, the growing scope of application for powdered FPH in cosmetics, such as hair masks, face creams, and face serums are projected to positively influence the market demand over the next few years.
Fish Protein Hydrolysate Market Report Highlights
• The powder-based FPH segment is projected to account for the highest revenue share by 2027. Various factors, such as low operating costs, ease of storage and transportation, and longer shelf life than a liquid solution, are projected to augment the demand for powdered FPH
• Anchovy source segment accounted for the largest revenue share of over 32% in 2019. Anchovy constitutes various endogenous chemicals, including chymotrypsin, trypsin, and cathepsin, which help in the hydrolyzation of proteins
• Growing demand for the anchovy protein hydrolysate in skincare products, on account of the product’s ability to defend scleroprotein and nourish the skin, is likely to fuel the segment growth
• Europe is expected to witness steady growth on account of the rising preference for natural and organic pharmaceutical and cosmetic products. In addition, strong FPH manufacturing base and increased focus of companies on R&D activities are projected to drive the regional market
• Companies are investing in marketing and advertising activities to gain brand recognition and to diversify their product portfolio
• For instance, manufactures, such as Bio-marine Ingredients Ireland Ltd. and Hofseth BioCare, are advertising on blogs and other social media platforms in an attempt to highlight the distinguished benefits of FPHs
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Fish Protein Hydrolysate Market Segmentation
Grand View Research has segmented the global fish protein hydrolysate market on the basis of technology, form, source, application, and region:
FPH Technology Outlook (Volume, Tons, Revenue, USD Thousand, 2016 - 2027)
• Acid Hydrolysis
• Autolytic Hydrolysis
• Enzymatic Hydrolysis
FPH Form Outlook (Volume, Tons, Revenue, USD Thousand, 2016 - 2027)
• Liquid
• Powder
FPH Source Outlook (Volume, Tons, Revenue, USD Thousand, 2016 - 2027)
• Anchovy
• Herrings
• Menhaden
• Sardine
• Shads
• Others
FPH Application Outlook (Volume, Tons, Revenue, USD Thousand, 2016 - 2027)
• Food
• Pharmaceuticals
• Animal Feed & Pet Food
• Cosmetics
• Others
FPH Regional Outlook (Volume, Tons, Revenue, USD Thousand, 2016 - 2027)
• North America
o The U.S.
o Canada
o Mexico
• Europe
o Germany
o The U.K.
o France
o Spain
o Italy
• Asia Pacific
o India
o China
o Japan
o Australia
• Central & South America
o Brazil
o Chile
o Peru
• Middle East & Africa
o UAE
List of Key Players of Fish Protein Hydrolysate Market
• Sopropeche
• Diana Group
• Copalis Sea Solutions
• Scanbio
• Bio-marine Ingredients Ireland Ltd.
• United Fisheries
• Shenzhen Taier
• New Alliance Dye Chem Pvt. Ltd.
• Neptune's Harvest
• Alaska Protein Recovery, LLC
• Great Pacific BioProducts Ltd.
• BrownsFish Genesis
• Dramm Corp.
• U.S. Ag Florida, Inc.
• Sampi
• Marutham Bio Ages Innovations (p) Ltd.
• Hofseth BioCare
• Janatha Fish Meal & Oil Products
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.