Fish Protein Concentrate Market - Forecast(2023 - 2028)

Fish Protein Concentrate Market size is estimated to reach $412.3 million by 2027, growing at a CAGR of 6.1% during the forecast period 2022-2027. Fish protein concentrate (FPC) is a powder product with a medium level of protein (50-70%) and will include a certain level of fat/oil (1-20%) in the powder form also. Fish protein isolate (FPi) is where the product includes lower than 1% fat/oil and greater than 90% protein. Fish protein concentrate is generated by bits and pieces from the consumer fishing industry. The fish feed also includes vitamins, minerals, pigments, and amino acids. The antioxidant astaxanthin is included in the salmon feed to boost the immune system of the fish and safeguard their tissue. It is also a source of vitamin A. Fish protein hydrolysate (FPH) acquired from chemical, enzymatic and microbial hydrolysis of processing by-products is being utilized as a source of amino acids and peptides with great digestibility, quick absorption, and significant biological actions. Fish protein concentrate may be utilized as a source of protein and in this sense, it may be termed a protein ingredient. Enzymatic hydrolysis of fish protein has been performed as a substitute technique for transforming underutilized fish biomass into edible protein products, rather than animal feed or fertilizer (Suzuki, 1981; Diniz and Martin, 1996). Marine protein supplements are available. Marine proteins that are specifically efficient in nourishing hair are oysters, salmon, and clams. Fish protein concentrate (FPC) was prepared from low-value fish by solvent extraction method with isopropanol at a certain temperature and time. Interest in the aqueous extraction process has been aroused by rising environmental concerns. An aqueous process is considered an environmentally cleaner substitute technology.

The burgeoning demand for sports nutrition including protein ingredients is set to drive the Fish Protein Concentrate Market. The functional characteristics of fish protein concentrate safeguard from deficiency of proteins resulting in greater demand for high-protein (fish protein concentrates) in food products which are set to propel the growth of the Fish Protein Concentrate Market during the forecast period 2022-2027. This represents the Fish Protein Concentrate Industry Outlook.

Report Coverage

The report: “Fish Protein Concentrate Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Fish Protein Concentrate Market.

By Type: Type A, Type B, Type C.
By Form: Liquid, Powder.
By Application: Food And Beverages, Sports Nutrition And Dietary Supplements, Cosmetics And Personal Care, Pharmaceuticals, Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa). 

Key Takeaways

• Geographically, North America Fish Protein Concentrate Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging development in intake of high protein foods including protein ingredients in the North American region.

• Fish Protein Concentrate Market growth is being driven by the heightened consumer acceptance of high protein food products inclusive of protein ingredients and the proliferating inclination of food makers towards manufacturing food products with soaring nutritional value with proteins being the most advantageous and therefore with greater demand. However, there is a need for higher transparency in tuna fisheries of the Pacific Islands with superior information-sharing protocols, value chain tracing, and intergovernmental collaboration and this is one of the major factors hampering the growth of the Fish Protein Concentrate Market. 

• Fish Protein Concentrate Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Fish Protein Concentrate Market report. 

Fish Protein Concentrate Market: Market Share (%) by Region, 2021

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Fish Protein Concentrate Market Segment Analysis – By Form:

The Fish Protein Concentrate Market based on the form can be further segmented into Liquid and Powder. The Powder segment held the largest market share in 2021. This growth is owing to the extensive application of the powder form in beverages and supplements. Marine protein includes fish protein. The surging application of dried fish protein powder for food fortification and generation of value-added/functional food is further propelling the growth of the Powder segment.

Furthermore, the Liquid segment is estimated to grow with the fastest CAGR of 7.2% during the forecast period 2022-2027 owing to the extensive application of the liquid form of Fish Protein Concentrate as organic fertilizer, in industrial fermentation, in veterinary feed formulation for different animals like piglets, poultry, aquafeed, pet feed, and fur-bearing animals, with fish protein being a kind of marine protein.

Fish Protein Concentrate Market Segment Analysis – By Application:

The Fish Protein Concentrate Market based on the application can be further segmented into Food And Beverages, Sports Nutrition And Dietary Supplements, Cosmetics And Personal Care, Pharmaceuticals, and Others. The Cosmetics And Personal Care Segment held the largest market share in 2021. This growth is owing to the surging application of Fish Protein Concentrate in cosmetic products owing to the considerable quantity of collagen which supports skin tightening and diminishes the aging process. The proliferating current developments of cosmeceuticals including marine protein and peptides acquired from chemical or enzymatic hydrolysis of fish processing are further propelling the growth of this segment.

Furthermore, the Sports Nutrition And Dietary Supplements segment is estimated to grow with the fastest CAGR of 7.7% during the forecast period 2022-2027 owing to the extensive application of Fish Protein Concentrate in sports nutrition and dietary supplements attributed to the massive protein requirement of sportsmen and sportswomen with fish protein being a kind of marine protein.

Fish Protein Concentrate Market Segment Analysis – By Geography:

The Fish Protein Concentrate Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America (Fish Protein Concentrate Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the soaring intake of fish protein concentrate in countries like the U.S and Canada, as dietary supplements, and in sports nutrition in the North American region. Marine protein includes fish protein. The surging fitness trends twinned with the proliferating health awareness of consumers is further propelling the growth of the Fish Protein Concentrate Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like heavy intake of seafood, particularly fish foods to meet the protein requirement in the Asia-Pacific region. The burgeoning awareness regarding the advantages of marine proteins like fish protein coupled with the heightened intake of sports nutrition is further fuelling the progress of the Fish Protein Concentrate Market in the Asia-Pacific region.

Fish Protein Concentrate Market Drivers

Marine protein includes fish protein. Fish Protein Concentrate can be made from any kind of fish or fishery waste. It is made from fish by deriving out the oil, screening or settling out the bones, and drying so that the consequent product (Fish Protein Concentrate) is greater in protein (85% to 95 %) and reduced in ash content than fish meal. The particle size of the Fish Protein Concentrate is tinier than a fish meal and more uniform in color and texture. Owing to the processing costs connected to generating this product it is more high-priced than a fish meal and is normally only utilized in human usage or for very specialized usages principally in milk replacers. Since its oil content is less, the issue of fishy taste happening in the edible portion is low. Fish Protein Concentrate has principally been utilized in specially-designed feeding applications with monogastric animals as starter feeds. It is a wonderful source of greatly digestible amino acids. The surging applications of Fish Protein Concentrate are therefore fuelling the growth of the Fish Protein Concentrate Market during the forecast period 2022-2027.

Fish protein includes amino acids. Fish protein concentrate possesses nutritional advantages like being a high-quality protein including different vitamins and minerals. The health-associated advantages involve decreasing the hazard of heart attacks and enhancing brain health. It also supports a person enduring malnutrition. The collagen contained in fish protein concentrate has over 97% protein with nil fat, sugars, or starches. Fish protein concentrates have been utilized as a source of proteins, and chiefly for boosting the lysine content in wheat bread (Terra et al., 1976). BioRegion Protein, a Pacific Seafood Company, has developed SeaPro ™ HP, a de-boned fish protein concentrate extracted from just produced cuttings of marine whitefish and linked species harvested and processed for intake by humans. It is a rare, constant feed constituent. It is a perfect protein source for backing microbial development in fermentation processing. The soaring benefits of Fish Protein Concentrate implemented in novel and useful products are therefore driving the growth of the Fish Protein Concentrate Market during the forecast period 2022-2027.

Fish Protein Concentrate Market Challenges

There is a surging worldwide requirement to switch from animal- to plant-based diets. The primary inspirations are environmental/sustainability-, human health- and animal welfare issues. The goal is to substitute conventional animal-based food with different options, essentially plant-based analogs. The soaring intake of fish and seafood, results in adverse impacts on the ecosystem, owing to dwindling biodiversity, environmental injury and fish ailments connected to large-scale marine farming, and raised consumption of toxic substances, specifically heavy metals, which get collected in fish owing to water pollution. While these facts result in heightened awareness and increasing dietary shifts towards vegetarian and vegan lifestyles, still most seafood consumers look for conventional products. This inspires the establishment of plant-based analogs for fish and seafood. In keeping with this trend, additional plant-derived protein constituents, like lupin and rapeseed/canola protein concentrates, have been established and studied as possible fish meal alternatives. However, there is no considerable production of any substitute protein concentrate other than those from soy or wheat. Plant-based products are a key driver of sales growth at grocery retailers nationwide, growing almost twice as fast as overall food sales. SPINS retail sales data released on April 6, 2021, shows that grocery sales of plant-based foods that directly replace animal products have grown 27 percent in the past year to $7 billion. The existence of plant-based substitutes is thus hampering the growth of the Fish Protein Concentrate Market.

Fish Protein Concentrate Industry Outlook:

Product Launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Fish Protein Concentrate Market. Key companies in this market are:

1. Colpex Internacional S.A.C
2. Scanbio Marine Group AS
3. Omega Protein Corporation
4. Mukka Proteins Limited
5. Siam Natural
6. Apelsa Guadalajara
7. PeterLabs Holdings Berhad
8. Bio-Oregon Protein
9. Bevenovo Co. Ltd,
10. Qingdao Future Group

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