DUBAI, UAE, May 20, 2021 / PRNewswire / – The latest report from ESOMAR-certified consultancy Future Market Insights predicts that the global fish protein market will have a CAGR of 5.6% between 2016 and 2020. Dietary supplements have accelerated sales of powder formulations for fish protein. In addition, manufacturers have stepped up production of fish protein supplements, which are available in a variety of flavors such as chocolate, coffee, and strawberry, to increase sales of fish protein supplements.
The increasing demand for fish protein for various uses in various end-use sectors such as food and beverages, pharmaceuticals and others is expected to drive the market. Longer shelf life and ease of transportation have promoted the manufacture of a powder formulation from fish protein.
In addition, increasing health problems such as obesity, elevated sugar levels and others leading to cardiovascular disease have reduced the consumption of fish protein supplements in countries such as: United States, India, Australiaand the UK, fueling sales of fish protein supplements. Based on the above factors, the global fish protein market is expected to grow 7.2% CAGR through 2031, according to FMI estimates.
“Fish protein manufacturers are consistently developing powdered dietary supplements, which is driving demand in the food and beverage industry and creating room for expansion in the sports nutrition industry,” notes the FMI analyst.
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The central theses
- In terms of shape, the powder form is expected to have a maximum share in the global fish protein market
- Fish protein isolate is expected to be one of the most lucrative segments, accounting for over 46% of the total market share
- Application in the food and beverage industry accounts for almost 42% of sales of fish protein
- Increasing cases of obesity and other serious health problems like joint pain and more United States are intended to support the sale of fish protein products
- India The fish protein market is expected to grow 5.8% CAGR through 2031
- Australia is a leader in the growth of the fish protein market in Oceania, accounting for 80.6% of the total market share
- The growing demand for health promoting organic foods improves the demand for fish protein
- Increasing cases of cardiovascular disease increase consumption of nutritional supplements fortified with omega-3 and fish protein and promote growth
- The increasing consumption of seafood increases the demand for fish by-products and offers lucrative opportunities for the main players
- Allergies associated with fish-based protein are likely to hinder growth
- High production costs and higher research and development expenditures can affect demand
Learn more about the fish protein market with numbers and data tables and table of contents. A detailed market segmentation can also be found at https://www.futuremarketinsights.com/reports/fish protein-market
Future Market Insights has listed some of the leading players in the global fish protein market including Omega Proteins, Bio Oregon Protein, Colpex International Inc., Mukka Seafood Industries Limited, Aroma NZ, ScanBio Marine Group AS, Ingredients Inc., Peterlabs Holdings, Siam Industries International, Apelsa Guadalajara SA de CV, Bio Phoenix Formulas and Qingdao Future Group. The market participants expand their regional presence by collaborating with numerous companies that are specifically active in the fish protein market.
For example on the 25th. January 2021Avant Meats Company Limited announced the acquisition of Vinh Hoan Corporation, a leading seafood and protein manufacturer, to accelerate the commercialization of cultured fish protein by leveraging its global distribution network and industrial manufacturing capabilities.
Also Bühler, a leading manufacturer, on the 2nd. February 2021announced the launch of PolyCool 1000 for plant-based alternatives based on meat and fish.
Additionally, Royal DSM, a global science-based company active in nutrition, health, and sustainable living, is on 3 MarchAround 2021 announced the launch of Maxavor®-Fish YE, a new vegan, 100% allergen-free aroma solution.
Further insights into FMI’s fish protein market
Future Market Insights offers an unbiased analysis of the fish protein market with historical demand data (2016-2020) and forecast statistics for the period from 2021 to 2031. The study provides convincing insights into the fish protein market with a detailed segmentation by shape (powder and liquid) , Product (fish protein isolate, fish protein concentrate and fish protein hydrolyzate), application (food & beverages, cosmetics & personal) care, sports nutrition and dietary supplements, pharmaceuticals and others) in the most important regions (North America, Latin America, Europe, East asia, South Asia Pacific, and middle East & Africa).
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Discover FMI’s extensive coverage of the food and beverage sector
Fish Protein Concentrates Market: Future Market Insights (FMI) fish protein concentrates market study provides deeper insights into the emerging trends and takes into account the impact of ongoing trends as well as growth and restraint factors in the forecast period 2021 to 2031. Market dynamics have been based on prominent drivers, trends and opportunities that prevail in the main regions of the previous decade.
Fish Protein Isolates Market: ESOMAR-certified market analysis and consulting firm Future Market Insights (FMI) offers insights into the demand in the fish protein isolates market in its latest report. To determine the effect of COVID-19 on the fish protein isolate market in general, the study also monitors global sales of fish protein isolates in over 20 high-growth markets, targeting their end users in particular.
Fish Powder Market: In its latest study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers detailed insights into key factors influencing demand for fish powder. The report covers the global demand for fish powder in more than 20 high potential markets and analyzes in depth the impact of COVID-19 on the global fish powder market.
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SOURCE Future Market Insights