The scope of our recent study on the “Fish Protein Hydrolysate Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by form and Application” includes factors fueling the market growth, revenue estimation and forecast, market share analysis, and the identification of significant market players, along with their key developments.
The fish protein hydrolysate market size is expected to grow from US$ 498.07 million in 2022 to US$ 748.66 million by 2030; it is estimated to register a CAGR of 5.2% from 2022 to 2030.
Fish protein hydrolysate is a product made from fish or fish material by the method of protein hydrolyzation. Thus, fish protein hydrolysate is a mixture of broken proteins. Fish protein hydrolysates are reported to have a number of improved properties compared to the protein of origin, namely improved functional properties and bioactive properties such as anti-oxidative or anti-hypertensive activities. Recently, fish protein hydrolysate is also started to be used as cryoprotectants for frozen fish products. These are the factors expected to drive the fish protein hydrolysate market growth during the forecast period.
Based on form, the global fish protein hydrolysate market is segmented into dry and liquid. The dry segment held the largest share in 2021. Demand for powder fish protein hydrolysate is significantly higher than that of the dry fish protein hydrolysate have relatively longer shelf-life, and ease of transportation and storage. Cost of raw materials is also less, as it is a byproduct of fish which is important attribute fueling the growth of the powdered fish protein hydrolysate.
The global fish protein hydrolysate market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. In 2022, Asia held the largest market share and is it is also expected to register the highest CAGR from 2022 to 2030. The emerging countries in Asia Pacific are witnessing an upsurge in the middle-class population, along with the growth in urbanization that offers ample opportunities for key players in the fish protein market.
Impact of COVID-19 Pandemic on Fish Protein Hydrolysate Market
Many economies were affected due to the impacts of the COVID-19 pandemic. The significant disruption in manufacturing activities and raw material sourcing significantly impacted the growth of fish protein hydrolysate market. Due to lockdowns, travel restrictions, trade limitations, manufacturing unit shutdowns, and other government restrictions, various end-use industries faced significant challenges in the production and distribution of end product. These factors negatively impacted the fish protein hydrolysate market in pandemic.
In 2021, governments of various countries announced relaxations in previously imposed restrictions and permitted manufacturers to work at full capacities. Thus, increased production volumes and improved supply chain operations bolstered the fish protein hydrolysate market growth.
The report includes the segmentation of the global fish protein hydrolysate market as follows:
• The global fish protein hydrolysate market is segmented based on form, application, and geography. Based on form, the market is segmented into dry and liquid. Based on application, the market is segmented into animal nutrition, food & beverages, pharmaceuticals & nutraceuticals, personal care, and agriculture. Further, the animal nutrition segment is subdivided into poultry, ruminants, swine, aquaculture, pets, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, South & Central America, and Central Asia.
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