Fish Protein Hydrolysate Market Size

Global Fish Protein Hydrolysate Market Overview

Fish Protein Hydrolysate Market Size was valued at USD 448.06 million in 2023. The fish protein hydrolysate industry is projected to grow USD 623.31 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.22% during the forecast period (2024 - 2032). Fish protein hydrolysate (FPH) is a product obtained through the enzymatic hydrolysis of fish protein, which results in the breakdown of large protein molecules into smaller peptides and amino acids. This hydrolysate is rich in nutrients such as omega-3 fatty acids, essential amino acids, and peptides that have several health benefits.

One of the key drivers of the Fish Protein Hydrolysate Market is the increasing demand for fish-based products across the APAC region. Countries such as China, Japan, and India are the major contributors to the growth of the market in the region, owing to the high consumption of fish and seafood products. Additionally, the increasing awareness of the health benefits of fish protein hydrolysate has also led to a rise in demand for these products in the region. Major companies are investing in research and development to develop new and innovative fish protein hydrolysate products to meet the evolving needs of the market. These companies are also expanding their production capacity to cater to the increasing demand for fish protein hydrolysate in different regions. Moreover, key players in the market are adopting expansion policies such as mergers and acquisitions, partnerships, and collaborations to strengthen their market position and expand their product portfolios. These strategies have also contributed to the growth of the market.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

However, the complex manufacturing process involved in the production of a fish protein hydrolysate is a significant restraint to the growth of the market. The process involves several steps, including the selection of raw materials, enzymatic hydrolysis, filtration, and drying. The high cost of raw materials, as well as the expensive equipment required for the manufacturing process, further adds to the overall cost of production.

Nevertheless, the increasing government investment in the fishing sector presents a significant opportunity for the growth of the Fish Protein Hydrolysate Market. Governments across various countries are providing financial assistance and incentives to promote the fishing industry and improve the efficiency of fish processing operations. This is expected to result in an increase in the availability of raw materials for fish protein hydrolysate production, ultimately driving market growth.

Additionally, stringent government regulations and policies are a major challenge for the fish protein hydrolysate market. Regulations related to the use of fish protein hydrolysate in aquaculture and animal feed vary from region to region and can impact the growth of the market.

Fish Protein Hydrolysate Market Trends

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  The Booming Fish Industry Across The APAC Region

  
  

The growing fish industry across the APAC has increased the production of fish protein hydrolysate to serve the various end users such as pharmaceuticals, personal care, agriculture, animal feed & pet food which in turn would boost its market growth. For instance, in December 2021, according to Ministry of Fisheries, Animal Husbandry and Dairying, the second-largest producer of fish in the world, India accounts for 7.56% of worldwide production, 1.24% of the nation's Gross Value Added (GVA), and more than 7.28% of its agricultural GVA. For millions of people, fishing and aquaculture remain significant sources of food, nutrition, income, and a way of life. During 2019–20, the Fisheries sector generated export revenue of Rs. 46,662.85 crores. Over 280 lakh people receive livelihood support from the sector at the primary level, and about twice as many do so further down the value chain. For the past few years, the average annual growth rate in the fishing industry has been 7%. One of the best solutions to reduce hunger and dietary deficiencies is fish, which is a cheap and abundant source of animal protein. The fisheries industry must be given consistent and focused attention through policy and financial support to accelerate its development in a way that is sustainable, responsible, inclusive, and equitable. The sector has the potential to double its exports.

The "Sunrise Sector" designation has been given to the fishing industry, which has had excellent double-digit average annual growth of 10.87% since 2014–15. The sector has enormous growth potential and produces a record-breaking 142 lakh tonnes of fish in FY 2019–20. Also, it has played a crucial role in preserving the livelihoods of over 28 million people in India, particularly for vulnerable and marginalized populations, and it has helped to promote socioeconomic growth. Hence, the growing fishing sector across the region coupled with the extraction of fish protein hydrolysate from it in order to serve the various end users is set to contribute to its overall market growth.

Fish Protein Hydrolysate Market Segment Insights

Fish Protein Hydrolysate Source Insights

The Fish Protein Hydrolysate Market segmentation, based on the source, anchovy, herrings, salmon, tuna, and others. The tuna segment accounted for the largest market share in 2022 in the Fish Protein Hydrolysate Market revenue. Tuna is a large, predatory fish that is commonly found in the Atlantic, Pacific, and Indian Oceans. Tuna-based fish protein hydrolysate is known for its high levels of essential amino acids, which make it an ideal ingredient for products that promote muscle growth and recovery. Tuna-based fish protein hydrolysate is also a rich source of antioxidants, which help to protect against oxidative stress and free radical damage. Tuna-based fish protein hydrolysate is commonly used in sports nutrition products and dietary supplements, as well as in functional foods and beverages.

November 2022: The revenue of Hofseth BioCare ASA grew by 105 % Y-O-Y, as the company signed contracts with various new processors operating in the salmon business to ensure better access to salmon in the company’s process of production.

August 2022: Symrise Aqua Feed introduced ActiTuna, to support the performance of shrimp and other animal feed products.

June 2022: Biomega Group launched human nutrition SalMe Peptides.

February 2022: Bio-Marine Ingredients company has raised €6.5m (US$7.4m) via a loan for the development of plants to manufacture the final products, as the company has a processing unit that is operational in Castleblayney.

Figure 2: Fish Protein Hydrolysate Market, by Source, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fish Protein Hydrolysate Form Insights

Based on form, the Fish Protein Hydrolysate Market data has been bifurcated into powder, and liquid. The powder segment accounted for the largest market in 2022 in the Fish Protein Hydrolysate Market revenue. Powdered FPH is a popular form of FPH used in various food and feed applications. Powdered FPH is produced by spray-drying or freeze-drying the liquid FPH. Spray drying involves atomizing the liquid FPH into droplets and then drying them by passing hot air through a chamber. Freeze-drying involves freezing the liquid FPH and then drying it under a vacuum to remove the ice crystals. Powdered FPH is typically a free-flowing, dry powder with a particle size of fewer than 300 microns. The majority of FPHs are hygroscopic amorphous powders with 81-93% protein, less than 5% fat, 3-8% ash, and 1-8% moisture. Powdered FPH has several advantages. It has a longer shelf life, is easier to store and transport, and can be easily incorporated into dry food formulations. Powdered FPH is also more stable than liquid FPH and can withstand high temperatures and pressure during processing. Due to the growing need for powdered fish protein hydrolysate in the production of pharmaceutical-grade goods, such as protein powder and other supplements, which help with blood and muscle recovery after accidents, the powder market is predicted to develop profitably. The demand for powder-based fish protein hydrolysate is also anticipated to increase due to the rising use of natural components, which are low in toxicity and cost-effective in nature. This has further broadened the growth opportunity for the fish protein hydrolysate industry.

Figure 2: Fish Protein Hydrolysate Market, by Form, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fish Protein Hydrolysate Application Insights

Based on application, the global fish protein hydrolysate industry has been segmented into food, pharmaceuticals, animal feed & pet food, personal care, and agriculture. The food segment accounted for a larger market share in 2022 in the Fish Protein Hydrolysate Market revenue. FPH is commonly used in animal feed and pet food due to its high protein content and bioactive peptides. It is particularly useful in aquaculture and livestock production, where it can improve growth performance and feed conversion ratio. FPH is also used in pet food due to its palatability and digestive benefits. FPH has been shown to improve growth performance and feed conversion in aquaculture, poultry, and swine production. It is also used in pet food to improve digestive health and enhance palatability. Additionally, FPH can be used as a feed ingredient for organic and sustainable agriculture. The substance helps to reduce the spread of infectious illnesses and boosts the metabolic system of animals against bacteria, fungi, viruses, and parasites. This is one of the main causes boosting the demand for FPH in the market, coupled with the product's capacity to enhance cattle health and metabolism. This further drives the growth of the fish protein hydrolysate industry in the forecast period.

Figure 3: Fish Protein Hydrolysate Market, by Application, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fish Protein Hydrolysate Regional Market Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is the largest region in the fish protein hydrolysate market with a market share in 2022 and Asia-Pacific is likely to register the highest CAGR of during the projected period.

Figure 3: FISH PROTEIN HYDROLYSATE MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America fish protein hydrolysate market is expected to expand at a robust rate over the projected period, according to Market Research Future. Fish protein is the prominent source of minerals and vitamin A, and D, that is considered as necessary ingredients in various food applications. The importance of these types of proteins is very high as proteins obtained from animal sources are measured to be nutritionally high as compared with the plants-based proteins as these proteins hydrolysates comprises a better balance of the essential amino acids. Owing to these characteristics, the fish protein demand has been stipulating in North America. The region is accounted for the higher demand for the rich source of collagen-based anti-ageing products in various pharmaceutical products.

Europe’s fish protein hydrolysate market accounts for the second largest market share as of 2022. The developed countries in Europe have been choosing the more appropriate and rich source food and feed products which indeed resulted into the high growth of fish protein hydrolysate products demand. Germany is one of the prominent markets for the protein which is well supporting the endeavored high production of the fish protein hydrolysate (FPH) products. Along with the increased awareness regarding the toxic and chemical-free fertilizers have gained momentum, resulting in the greater demand for the protein-based agriculture fertilizers.

Asia-Pacific fish protein hydrolysate market accounts for a significant market share as of 2022. Asia-Pacific region consists of China, India, Japan and Australia & New Zealand, and Rest of Asia-Pacific. Every type of protein has its crucial importance as they contain the high number of proteins which is necessary in numerous health diets. The hydrolyzed proteins are nothing but proteins which partially broken into smaller sizes for various applications. Fish protein hydrolysate is one of the common protein types that is being widely used due to its immense benefits. Considering the large number of companies based in the China and India majorly influences the industry. The key players such as ADM, Mead Johnson and Cargill are a few of the key players that has identified the growing opportunities for the fish protein hydrolysate-based products in the region. Owing to the higher demand from agriculture and the animal feed industry.

The Rest of the World region includes countries in Africa, South America, and the Middle East. The rest of the world includes South America, the Middle East, and Africa region. South American region is observing the awareness among the consumers, regarding benefits of the fish protein hydrolysates. The countries such as Argentina, Brazil and Chile are prominent region which are gaining high demand for appropriate protein products. Thus, the key players operating in South America has been constantly focusing on providing fish protein hydrolysate-based food products. Moreover, the augmented demand for the national food supplements, and protein drinks is predicted to generate lucrative growth for the products. Additionally, the instances of malnutrition, coupled with the increased interests of the consumers towards consumption of chemical free products has gained popularity which results in the augmented demand for the high protein products.

Fish Protein Hydrolysate Key Players & Market Competitive Landscape

Fish Protein Hydrolysate Market is projected to register a significant CAGR during the review period. The market's growth can be attributed to the surging demand of fish protein hydrolysate from various end-use industries such as food, pharmaceuticals, nutraceuticals, cosmetics & personal care, and pet food & feed industries. The fish protein hydrolysate market is highly competitive, as the key players are continuously focusing on the adoption of growth strategies to enhance their market position. The growth strategies adopted by the manufacturers include product launches, re-innovation in their existing products, acquisition, and strategic collaboration to uplift their revenue. The companies are also focusing on the expansion of their operations across the regions, augmenting their production, sales, and distribution capabilities. However, the growth of market players is primarily dependent on the market conditions, the development of industry, along with government support. Moreover, the increasing investment of government in fishing sector is set to open up huge prospects for the manufacturers operating their business in fish protein hydrolysates market in the upcoming years.

The key players operating in the fish protein hydrolysate market are Hofseth BioCare ASA, Diana Group (Symrise), Bio-marine Ingredients Ireland, Copalis, Janatha Fish Meal & Oil Products, Scanbio Marine Group AS, Shenzhen Taier, Omega Protein Corporation, Biomega, Pelagia, and Neptune’s Harvest are the front-runners in the market, owing to brand reputation, product differentiation, financial stability, and strong distribution network. In addition, the players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and product launches to strengthen their market position and capture a large consumer base.

The manufacturers are focusing on the incorporation of innovative ways to increase awareness regarding the health benefits associated with fish protein hydrolysate. The key players are also aiming at changing consumer behavior and lifestyle patterns and introducing the products accordingly to generate more revenue. In addition, companies are also focusing on various innovative techniques and procedures for the launch and development of fish protein hydrolysates. Environmental sustainability is another strategic factor that is being applied by the companies operating in the Fish Protein Hydrolysate Market. These are the strategic steps taken by the manufacturers in the global fish protein hydrolysate on account of present and future scenarios to generate more profits and increase their revenues.

Key Companies in the Fish Protein Hydrolysate Market Include

• Hofseth BioCare ASA


• Diana Group (Symrise)


• Bio-marine Ingredients Ireland


• Copalis


• Janatha Fish Meal & Oil Products


• Scanbio Marine Group AS


• Shenzhen Taier


• Omega Protein Corporation


• Biomega


• Pelagia


• Neptune’s Harvest

Fish Protein Hydrolysate Industry: Market Developments

December 2021 : Symrise segmented its aqua feed portfolio from Diana Aqua into three categories of products such as Extrapal, Actipal, and Nutri. This strategic step was taken by Symrise on account of aiding the manufacturers operating in aquafeed, in product identification according to their needs.

May 2021: Biomega Group announced the investment in new biorefinery in Denmark to aid the growth in Health & Nutrition.

March 2021: Hofseth BioCare ASA got the first order for the Salmon Protein purchase from the Garden of Life– the US-based company that offers organic health supplements.

January 2019: Symrise signed an agreement for the acquisition of International Dehydrated Foods, Inc., IsoNova Technologies LLC, and American Dehydrated Foods, Inc.

December 2017: Pelagia announced the acquisition of Epax- a foremost brand of concentrated marine-based omega-3 fatty acids for the formulation of pharmaceuticals and nutraceutical products such as dietary supplements.

Fish Protein Hydrolysate Market Segmentation

Fish Protein Hydrolysate Form Outlook

• Powder


• Liquid

Fish Protein Hydrolysate Application Outlook

• Food


• Pharmaceuticals


• Animal Feed & Pet Food


• Personal Care


• Agriculture

Fish Protein Hydrolysate Source Outlook

• Anchovy


• Herring


• Salmon


• Tuna


• Others

Fish Protein Hydrolysate Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia & New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa