Fish Protein Hydrolysate Market Size, Trends, Report by 2033

Prathamesh

1 month ago

The global fish protein hydrolysate market size surpassed USD 317.20 million in 2023 and is anticipated to attain around USD 449.20 million by 2033, growing at a CAGR of 3.54% from 2024 to 2033.

Key Points

Europe has accounted for 37% market share in 2023.
Based on form, the powder segment held the largest share of 68% in 2023.
Based on technology, the enzymatic hydrolysis segment dominated the market and accounted for 84% market share in 2023.
By the application, the animal feed industries segment has generated a 60% revenue share in 2023.
Based on source, the Atlantic salmon segment is observed to witness a significant growth rate during the forecast period.

Fish Protein Hydrolysate Market Size 2024 to 2033

The Fish Protein Hydrolysate (FPH) market is a rapidly growing segment of the global food and nutrition industry. Fish protein hydrolysate is produced through the enzymatic hydrolysis of fish byproducts, which yields a product rich in bioactive peptides and amino acids. It is widely used in the production of functional foods, dietary supplements, animal feed, and even cosmetics due to its high nutritional value and various health benefits.

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Growth Factors:

The market is primarily driven by the rising awareness of the health benefits associated with fish protein hydrolysate, such as improved muscle recovery, better digestion, and enhanced immune function. Additionally, the growing demand for sustainable and eco-friendly food sources has led to an increased focus on using fish byproducts, which helps minimize waste and supports a circular economy.

Region Insights:

The Asia-Pacific region holds the largest share of the fish protein hydrolysate market due to its strong seafood industry and high consumption of fish-based products. North America and Europe also represent significant markets, driven by health-conscious consumers and a growing interest in functional foods and supplements.

Fish Protein Hydrolysate Market Scope

Report Coverage	Details
Global Market Size in 2023	USD 317.20 Million
Global Market Size in 2024	USD 328.43 Million
Global Market Size by 2033	USD 449.20 Million
Growth Rate from 2024 to 2033	CAGR of 3.54%
Largest Market	Europe
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	By Form, By Technology, By Source, and By Application
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Fish Protein Hydrolysate Market Dynamics

Drivers:

Key drivers of the market include the increasing demand for protein-rich diets, the rising popularity of functional foods and nutraceuticals, and advancements in processing technologies that have improved the quality and shelf-life of fish protein hydrolysate products. The use of FPH in animal feed, particularly for aquaculture and pet food, also contributes to market growth.

Opportunities:

There are numerous opportunities for market expansion, including the development of new products and applications for fish protein hydrolysate in various industries. Innovations in extraction and processing techniques could lead to the creation of higher-quality products with broader applications, such as in pharmaceuticals and cosmetics.

Challenges:

One of the main challenges facing the market is the variability in the quality and composition of fish protein hydrolysate products, which can arise due to differences in fish species, processing methods, and storage conditions. Additionally, regulatory compliance and safety standards must be maintained to ensure the quality and efficacy of the products. Meeting these challenges will be crucial for the continued growth and success of the fish protein hydrolysate market.

Recent Developments

In May 2022, Pioneer Points Partners and Verdane collaborated with Scan Bio Marine Group to fulfil the requirement to build one of the largest and leading aquaculture waste management providers in Europe.
In February 2022, Ireland-based bio marine ingredients, BMI, raised USD 7.4 million based on a loan note. The Irish company supplies fish protein hydrolysate, calcium, and lipids to the human nutrition, pet food, and fertilizer sectors. It can produce a fraction of 35% to 90% protein as it is customizable according to the consumer’s demand.