Pune, India., June 17, 2021 (GLOBE NEWSWIRE) -- Fish Protein Hydrolysate Market: Key Insights
According to our new research study on “Fish Protein Hydrolysate Market to 2027 – Global Analysis and Forecast – by Technology, Form, Source, and Application,” the Fish Protein Hydrolysate Market Size is projected to grow from US$ 407.41 million in 2019 to US$ 588.86 million by 2027; it is expected to grow at a CAGR of 4.8% from 2020 to 2027. The market growth is attributed to the growing use of these products in bakery and animal food, pharmaceuticals, and cosmetics industries, among others.
Fish Protein Hydrolysate Market: Competitive Landscape and Key Developments
Bio-marine Ingredients, Copalis, CR Brown Enterprises, Diana Group, Hofseth BioCare ASA, Janatha Fish Meal & Oil Products, Bio Ages Innovation., SAMPI, Scanbio Marine Group AS, and Sopropêche are among the key companies in the fish protein hydrolysate market. The market leaders are continuously focusing on strategies such as product developments, and mergers and acquisitions to expand their footprint worldwide and fulfill consumer demands.
In 2019, North America accounted for the largest share of the global fish protein hydrolysate market. The growth of the market in this region is primarily attributed to the escalating demand for fish protein hydrolysates in animal feed, pharmaceuticals, and cosmetics, among others. Additionally, rise in purchasing power, elevating popularity of natural and organic personal care products, growing focus toward the health of animals and pets, and increasing efforts in research and development to expand and diversify the application range of fish protein hydrolysates are contributing to the market growth in the region.
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Rising Demand for Fish Protein Hydrolysate in Nutri-Cosmeceuticals Drives Market Growth:
There is a rising interest in fish protein hydrolysate from end-user industries, especially to aid skin health through micronutrients. Growing consumer preference toward the consumption of nutritious and chemical-free food products is anticipated to boost the market growth in the coming years. Along with extensive use in food industries, the fish protein hydrolysate is also used in the production of several animal feeds. The fish protein hydrolysate is also used as a binding agent in pet food products. As fish protein hydrolysate is a rich source of micronutrients, it is known for exhibiting anti-aging properties for skin, controlling blood pressure levels, and enhancing the growth of bone in animals. Fish protein hydrolysate finds its applications in the organic cosmetics and pharmaceuticals industries, which provide wider growth opportunities for the manufacturers operating in the fish protein hydrolysate market. Considering its multiple benefits as nutritional supplement, cosmetic ingredient, etc., fish protein hydrolysate is termed as an organic nutria-cosmeceutical substance. Owing to the wide application of fish hydrolysate, there is consistent growth in the supply chain over the years, and this is expected to continue during the forecast period.
Fish Protein Hydrolysate Market: Segmental Overview
By technology, the global fish protein hydrolysate market is segmented into hydrolysis, autolytic hydrolysis, and enzymatic hydrolysis. In 2019, the enzymatic hydrolysis segment led the market. The process proves to be the best way of hydrolyzing fish parts, especially fish skin, without losing their nutritional importance. It is especially a preferred method in the pharmaceuticals and food industries as it does not leave toxic chemical or organic solvent residues in the product solution. Stages involved in enzymatic hydrolysis start with the choice of a right enzyme, followed by the preparation of substrate, measuring the rate of enzymatic reaction, homogenization of working solution, deactivation of endogenous enzymes by warming the working solution, and termination of the enzymatic reaction, followed by the hydrolysis of fish protein. Commercial enzymes such as trypsin, alcalase, pepsin, pancreatin, papain, and thermolysin are used in the enzymatic hydrolysis.
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Based on form, the fish protein hydrolysate market is segmented into powder, paste, and liquid. The powder segment led the market with the largest market share in 2019. Demand for fish protein hydrolysate in the powdered form is greater than that for the liquid form as the former exhibits a longer shelf-life, and ease of transportation and storage. .
Based on source, the fish protein hydrolysate market is segmented into tuna, sardine, Atlantic salmon, crustacean, and others. In 2019, the tuna segment led the market. Tuna is a saltwater fish that belongs to the Mackerel family. The global production of tuna fish, especially the skipjack tuna, is rising at a faster pace. Europe, the US, and developing countries prefer eating canned tuna as it is a source of reasonably priced protein that does not require a cold store to keep.
By application, the fish protein hydrolysate market is segmented into animal feed, pet food, pharmaceuticals, cosmetics, and others. The animal feed segment led the fish protein hydrolysate market with highest market share in 2019. The emergence of transmissible diseases in livestock such as beef, cattle, and cows has led to an upsurge in the incorporation of supplementary additives in feed for increasing feed assimilation, followed by enhancing immune response and improving valuable microflora; this drives the fish protein market for the animal feed additives segment. The demand for animal feed for uplifting growth performance and improving protein content boosts the growth of the market for this segment. The inclusion of fish protein hydrolysates helps enhance feed efficiency, thereby improving milk, meat, and egg yield and quality. Strict regulatory amendments regarding antibiotics ban as feed additives due to their ill effects on animals as well as humans has promoted use of natural growth promoters, including vitamins, amino acids, probiotics, pigments, antioxidants, enzymes, and flavours.
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Impact of COVID-19 Pandemic on Fish Protein Hydrolysate Market:
As of May 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst-affected countries by the COVID-19 pandemic. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns, which is further affecting the business collaborations and partnership opportunities. Food & beverages is one of the major industries suffering serious disruptions such as supply chain breaks and office shutdowns amid this outbreak. The US is the significant manufacturer and consumer of fish protein hydrolysate. However, the lockdown of various plants and factories in the country has affected the global supply chains, thereby hampering manufacturing, delivery schedules, and protein-based products sales in the country. Various companies have already announced possible delays in product deliveries and projected slump in their future sales.
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Fish Protein Hydrolysate Market to Outstrip $588.86 Million by 2027 Growing Sturdy at 4.8% CAGR - GlobeNewswire
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