Market Outlook: Fish Protein
Protein is an essential component of the human body to maintain muscles, hair, organs, tissues, skin, and enzymes. Fish protein is one of the best dietary sources of animal protein which gives a healthy amount of protein having less saturated fat, carbohydrates, and cholesterol than red meat. Fish proteins can be used to replace meat and on account of reducing fat binding properties in the food Industry. Fish protein is the future of consumer’s health needs, as fish protein market is still on the initial stage of development. North America and Asia-Pacific are leading region in terms of major fish protein manufacturer. Fish protein products are becoming a good alternative sources in the protein and supplements industries.
Growing Consumer Focus on Health and Diet is Promoting Growth of Protein Products:
Fish protein is having a higher source of bioactive peptides, which is having a lot of positive health benefits in terms of concentrations available within the human body. The fish protein industry is growing at a steady rate since the last 4-5 years. The growing awareness about the benefits of fish protein as it plays an important role in human nutrition. Countries like China, USA, and Ireland are playing a key role in fish protein manufacturing and they hold the maximum amount of market share in the manufacturing of fish protein products. Rising income of consumer is accompanied by an increase in demand for high-quality proteins sourced from plant and animal sources. People are moving towards a healthy lifestyle and fish protein is the best solution for the consumer to adopt the as a protein source daily consumption. Plant and animal based protein can affect the market growth of fish protein, there are some regions where consumers prefer vegan protein or animal based protein based on consumer behavior. Fish protein powder became a good alternative in the protein market.
Global Fish Protein Market: Segmentation
On the basis of forms, global fish protein market has been segmented as,
On the basis of end use, the global fish protein market has been segmented as,
- Meat processing
- Dietary supplements
- Clinical nutrition
- Infant formula
- Sports nutrition
- Ready to eat
On the basis of distribution, the global fish market segmented as,
- Business to Business
- Business to Consumer
- Convenience Stores
- Super Markets/ Hypermarkets
- Online Stores
- Specialty Stores
On the basis of regions, the global fish protein market segmented as,
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Global fish protein market: Key players
The global fish Protein market is growing rapidly with increasing number of players focusing on new product development. Some of the key players of global fish protein market are Omega Protein Corporation, Mukka Sea Food Industries, Bio-marine Ingredients Ireland Ltd, Bio Phoenix Formulations, Apelsa Guadalajara, S.A. de C.V., Advance International, Inc., Nutrifish, Peterlabs Holdings Barhad, Siam Industries International, and others. The major players are focusing on strategic business development through business venture for development in Fish Protein market.
Opportunities for market participations in the Global Fish Protein Market:
Increased demand for protein globally is driven by socio-economic changes such as rising incomes, increased urbanization, and aging population. Fish Protein’s nutritional standards have shown positive long term demands, with worldwide increases in the average of global nutrition and protein supply. China, USA, India, Japan, Ireland are the fastest growing economies having more requirements for protein. World’s growing population becoming “Nutrition Conscious”, especially Asian countries are fastest growing economies nowadays, people becoming health conscious day by day and these countries required the highest amount of protein products. Vegan protein and protein sourced from other sources cannot fulfill the complete nutritional requirements of the human body, they contain a high amount of saturated fats and calories as compared to fish protein. Developed regions are more aware of fish protein products and developing regions are tend to adopt culture from developed regions. Fish Protein is the best solution to fulfill people’s nutritional requirements through natural resources.
Overview of the Report
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Value Chain
- Market Drivers and Restraints
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Peru, Chile, Rest of LATAM)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Poland, and Rest of Europe)
- East Asia (Japan, South Korea, and China)
- South Asia (India, Indonesia, Malaysia, Philippines, Thailand, Rest of South Asia)
- Oceania (Australia, and New Zealand)
- The Middle East and Africa (GCC Countries, Turkey, Iran, Israel, S. Africa, Rest of MEA)
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
The high demand for protein in different food products for its numerous health benefits is driving the market for fish protein. Regarded as one of the most effective animal proteins, the intake of fish protein has increased for its less saturated fat and cholesterol content as compared to other options such as red meat. Its fat binding properties are highly sought after in the market. The health supplements sector is populating with fish protein products, adding new revenue sources in the market.
With growing awareness regarding the health benefits of fish protein, the market has been growing at a fast pace over the years. The market is evolving with the augmenting demand for high-quality protein in food. Fish protein powders are projected to generate major sales in the market with their widespread application in different food products.
Large Number of End-Use Industries Increase Market Revenue
Different forms of fish protein used in the market include concentrated, hydrolysis, and isolated. Prominent end-use consuming fish protein are meat processing, dietary supplements, infant formula, ready to eat food, bakery, clinical nutrition, sports nutrition, and retail sector. Growth in the ready-to-eat food culture has created a new scope of application for fish protein products. Dietary supplements are witnessing a steep hike in the demand which is primarily driven by the protein supplements. Fish protein manufacturers are finding significant opportunities in the supplements sector.
Online Sales Channels Gain Traction
Major distribution channels generating revenue in the global market include Business to Business, Convenience Stores, Business to Consumer, Online Stores, Super Markets/ Hypermarkets, and Specialty Stores. Online stores have emerged as major distribution channels with the surge in the proliferation of the e-commerce sector. Its market share is estimated to substantially increase by the end of the forecast period.
The market is expected to face challenges from alternative protein sources such as animal and plant-based protein. The rise in the vegan culture is expected to challenge the sale of fish protein products, inversely impacting the progress of the fish protein landscape.
Regional Markets are Adapting to the Increasing Demand
The various socio-economic changes brought around by factors such as rapid urbanization has resulted in inflated demand for protein. With escalating demand for protein, regions such as China, Japan, India, and Ireland are projected to exhibit rapid growth during the forecast period. The demographics in the Asian region are known to grow nutrition-conscious, accounting for the burgeoning demand for protein in the region. The alternative proteins such as vegan proteins lag in competition with a high content of calories and saturated fats. High awareness regarding fish protein products is forecasted to impart a prominent position to the developing nations. The scaling economies are evolving fast to satiate the escalating demand for protein.
The market players are launching new products in the market to stay at the forefront of the competition. They are entering into new business ventures to strengthen their presence in the global fish protein market. Established players in the global market include Advance International, Inc.,, Bio Phoenix Formulations, Omega Protein Corporation,, Nutrifish, and Siam Industries International.