The global fish protein market size is expected to gain momentum during the forecast period. Fortune Business Insights in its upcoming report, titled, “Fish Protein Market, 2019-2026.”, mentions that the increasing demand for dietary supplements and the increasing prevalence of heart ailments is projected to surge the demand for fish proteins globally. Moreover, the growing preference for seafood in the human diet to gain essential nutrients is likely to propel the market growth. For instance, as per the Food and Agriculture Organization (FAO), globally around 3.1 billion people consume fish to ensure they obtain 20% of their overall protein intake.
Fish protein supplements are widely being consumed by people of all ages owing to the presence of essential amino-acids that aid in boosting immunity. The shifting consumer trends towards consuming safer, healthier, and sustainable proteins is further expected to boost the market’s demand. For instance, in January 2021, Avants Meats, a Hong-Kong-based food tech company, announced its partnership with Vinh Hoan Corporation (VHC). The partnership is aimed at accelerating the commercialization of new generation cultivated fish products.
The global pandemic, COVID-19, has led to a major shutdown in industrial activities globally. Although major disruption in supply chain and raw materials has impacted the food and beverage sector, it is likely to garner considerable growth in the forthcoming years. As several food products come under the ambit of essential services, the demand for them is expected to remain positive amid the widespread effect of the novel coronavirus.
List of the Companies Profiled in the Global Market for Fish Protein:
- Omega Protein Corporation
- Bio-marine Ingredients Ireland Ltd.
- Apelsa Guadalajara S.A. de C.V.
- Nutrifish
- PeterLabs Holdings Berhad
- Advance International, Inc.
- Siam Industries International
- Diana Aqua
- Hofseth BioCare
- Guaymas Protein Company
- Others
Market Segmentation:
We have segregated the fish protein market based on type, application, and region. On the basis of type, the market is segmented into fish protein hydrolysate, fish protein concentrate, and fish protein isolate. Furthermore, based on application, the market is segregated into food and beverages, sport nutrition and dietary supplements, animal feed, and others. The others segment is further sub-segmented into pharmaceutical, cosmetic, personal care, and others. Lastly, based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
What does the Report Provide?
The market for report provides in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2019 and 2026.
DRIVING FACTORS
Increasing Incidence of Heart Disease to Boost Demand
According to the World Health Organization (WHO), around 655, 000 deaths due to heart attacks are reported in the U.S. annually. This is estimated to be around 1 in every 4 deaths in the country. The increasing incidence of heart diseases globally is driving the people to adapt to a healthy and nutritious diet. This is expected to boost the demand for innovative fish protein products to suffice the nutrition demand of the population. Moreover, the growing demand for dietary supplements backed by the increasing awareness regarding its benefits among the general public is expected to bode well for the global fish protein market in the forthcoming years.
REGIONAL INSIGHTS
Asia-Pacific – The region is anticipated to hold a significant share of the global fish protein market in terms of revenue during the forecast period. This is attributable to the easy availability of raw materials and the increasing disposable income of the working population in the region.
North America – According to the research of the Harvard Institute, two out of three American adults are obese that constitutes to about 69% of the total population. The increasing incidence of obesity is expected to drive the adoption of innovative fish protein supplements in the region between 2019 and 2026.
COMPETITIVE LANDSCAPE
Key Players Focus on Partnership to Intensify Industry Competition
The global market for fish protein is experiencing healthy competition among major companies that are focusing on partnering other companies to expand their product portfolio and further gain a stronghold. Moreover, other key players are leveraging the opportunities provided by the market by adopting several organic and inorganic strategies during the forecast period.
Industry Development:
- January 2020 – BlueNalu, the Californian seafood manufacturing company, announced its partnership with Nutreco, an aquafeed manufacturing company. The partnership is aimed at expanding their product portfolio and strengthening their footprint in the global marketplace.
Source of Information:
https://www.fortunebusinessinsights.com/fish-protein-market-102453