The scope of our recent study on the “Fish Protein Hydrolysate Market for Animal Feed Application 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 for animal feed application is expected to grow from US$ 243.38 million in 2023 to US$ 339.87 million by 2030; it is estimated to register a CAGR of 4.9% from 2023 to 2030.

Fish protein hydrolysate (FPH) is a good source of protein and nutrients such as phosphorus, calcium, and other minerals. It helps prevent the spread of infectious diseases and boosts animal immunity against fungi, bacteria, viruses, and parasites. Regular consumption of FPH by broiler chickens helps in their muscle development. Enzymes present in fish protein hydrolysate aid in the gut morphology of broilers by facilitating the digestion of fibrous food, including grains and soybean meal. This factor is driving the fish protein hydrolysate market for animal feed application.

Based on application, the global fish protein hydrolysate market for animal feed application is segmented into poultry, aquaculture, ruminants, swine, pets, and others. The poultry segment held the largest share in 2021. The poultry feed industry also witnessed higher production of broilers and layers feed. According to “The 2023 Alltech Agri-Food Outlook” article, released on January 2023, the demand for layer-sector feed production increased by 0.31%, while the overall broiler feed sector grew by 1.27%. Fish protein hydrolysate (FPH) is considered a rich protein source; hence, it is extensively used in poultry feed production. Thus, fish protein hydrolysate (FPH) has various applications in poultry feed supplements. Thus, the demand for fish protein hydrolysate among poultry industry is increasing which is driving the segment’s growth.

The global fish protein hydrolysate market for animal feed application 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 2023 to 2030. The presence of a well-established animal feed industry in countries of Asia Pacific such as China and India provides strong growth opportunities to the manufacturers of fish protein hydrolysate for animal feed. Therefore, manufacturers are expanding their footprints across Asia Pacific.

Impact of COVID-19 Pandemic on Fish Protein Hydrolysate Market for Animal Feed Application

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 for animal feed application. Due to lockdowns, travel restrictions, trade limitations, manufacturing unit shutdowns, and other government restrictions, the animal feed industry faced significant challenges in the production and distribution of feed and feed ingredients. International and local restrictions naturally led to increased costs of animal feed products, which impacted animal farms in different countries. According to the National Center of Biotechnology Information (NCBI) 2021 report, the prices of animal feed ingredients increased by 15% in India and many countries in Africa. Microbial protein for feed applications is still in the development phase. Thus, the shortage of laborers in animal feed processing industries and disruptions in research & development activities led to the limited production of fish protein hydrolysate.

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 for animal feed application growth.

The report includes the segmentation of the global fish protein hydrolysate market for animal feed application as follows:

• The global fish protein hydrolysate market for animal feed application 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 poultry, ruminants, aquaculture, swine, pets, and others. By geography, the global fish protein hydrolysate market for animal feed application is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, South & Central America, and Central Asia.

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com