The fish protein isolates market size is expected to reach US$ 1,534.01 million by 2028; it is expected to grow at a compound annual growth rate of 4.4% from 2022 to 2028.
Fish protein isolate is produced by solubilizing fish protein in alkaline conditions and isoelectric precipitation to produce fish protein isolate with functional properties. The demand for fish protein isolates is increasing from various end use industries such as food & beverages, pharmaceuticals & nutraceuticals, personal care, and animal nutrition. The need for fish protein isolates in food & beverages is also growing owing to their incorporation in cereals, protein bars, infant formula, and other fortified food products to improve their nutritional profile for optimal health development. Further, the increasing demand for functional foods, nutritionally enhanced with omega-3 fatty acids, reduced sodium, and high protein content, will fuel the fish protein isolate market growth.
In 2021, North America held the largest share of the fish protein isolates market; however, Asia Pacific is estimated to register the highest CAGR during the forecast period. According to Food and Agriculture Organization 2020 report, Asia Pacific is a significant global aquaculture production market. Bangladesh, China, India, Indonesia, Myanmar, the Philippines, the Republic of Korea, Thailand, and Vietnam are among the major aquaculture producers. The markets for nutraceutical products, functional food & beverages, and dietary food supplements registered significant growth in Asia Pacific in the past few years. Consumer awareness regarding antiaging, weight management, and other health concerns is rapidly increasing in the region. Thus, the increased consumption of naturally sourced protein, such as fish protein isolate, has encouraged producers to develop fish protein isolate fortified products.
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Fish Protein Isolates Market: Strategic Insights
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Impact of COVID-19 Pandemic on Fish Protein Isolates Market
The imposition of lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic hindered economies and industries in various countries of North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA). These shutdowns disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the bans imposed by various governments of countries in Europe, Asia Pacific, and North America on international travel forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the food & beverages, personal care, and animal nutrition industries in 2020 and early 2021, which restrained the growth of various markets related to this industry, including the fish protein isolates market.
The COVID-19 pandemic negatively impacted the supply chains of various industries due to lockdowns and border restrictions imposed by governments of European countries. European manufacturers suffered significant economic losses during the first wave of the COVID-19 outbreak due to labor shortages. Moreover, disruption in supply chains caused raw material shortages. Due to the disruptions in the supply chain of raw materials and shut down of manufacturing units, the fish protein isolates manufacturers could not meet the growing demand for their products, creating a demand and supply gap. This factor hampered the profitability of the manufacturers in Europe during the initial months of the COVID-19.
Market Insights
Strategic Developments by Key Players to Drive Fish Protein Isolates Market during Forecast Period
In June 2021, Biomega Group AS, a leading biosciences company producing high-quality ingredients for the global health and nutrition sectors, partnered with Quality Salmon Sotenäs AB, owned by Norwegian-owned Lighthouse Finance AS, to invest in Quality Salmon Industry Park, located in Sotenäs, Sweden. Companies are expanding their production capabilities to meet the rising demand for fish protein isolates across the world. Such strategies are expected to fuel the fish protein isolates market growth during the forecast period.
Form Insights
Based on form, the fish protein isolates market is bifurcated into powder and liquid. The powder segment held the largest market share in 2021 and is expected to register the highest CAGR from 2022 to 2028. The powder fish protein isolate is obtained from liquid fish protein isolate. The fish protein isolate is spray-dried to obtain a powder with a neutral odor and good solubility. It has reduced the risk of spillage during manufacturing operations. The powder form of fish protein isolate offers several benefits such as storage stability, easy transportation, and no requirement for special storage conditions.
Source Insights
Based on application, the fish protein isolates market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and animal nutrition. The pharmaceuticals and nutraceuticals segment held the largest market share in 2021. However, the food and beverages segment is projected to register the highest CAGR during the forecast period. Pharmaceutical and nutraceuticals with fish protein isolate are consumed for improving heart health and maintaining brain health. The fish protein isolate is a rich source of omega 3, 6, and 9 fatty acids and has several antioxidant properties. These nutrients improve insulin sensitivity, which helps keep the body in an anabolic state and reduce body fat without risking muscle loss. Omega-3 helps the body store carbohydrates within muscles, which directly impacts muscle growth. Therefore, fish protein isolates are utilized in health and dietary supplements, sports nutrition, infant formula, and other products.
Advance International Inc, Bio-marine Ingredients Ireland Ltd, PeterLabs Holdings Sdn Bhd, Hofseth BioCare ASA, Sopropeche SA, Copalis Industry SAS, and Biomega Group AS are a few of the major players operating in the fish protein isolates market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends. Such products are expected to gain high traction among consumers during the forecast period.
Fish Protein Isolates Market Regional Insights
The regional trends and factors influencing the Fish Protein Isolates Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fish Protein Isolates Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Fish Protein Isolates Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1.19 Billion |
| Market Size by 2028 | US$ 1.53 Billion |
| Global CAGR (2022 - 2028) | 4.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Form
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Fish Protein Isolates Market Players Density: Understanding Its Impact on Business Dynamics
The Fish Protein Isolates Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fish Protein Isolates Market are:
- Advance International Inc
- Bio-marine Ingredients Ireland Ltd
- PeterLabs Holdings Sdn Bhd
- Hofseth BioCare ASA
- Sopropeche SA
Disclaimer: The companies listed above are not ranked in any particular order.
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Fish Protein Isolates
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Form, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
What are the key drivers for the growth of the global fish protein isolates market?
The demand for protein-rich food products is increasing in the global food & beverages industry, owing to the surge in the number of health-conscious consumers, rising disposable income, and growing consumer awareness. The consumption of fish protein isolates offers various health benefits, including a healthy heart and brain. Protein-rich food products reduce appetite and hunger, increase muscle mass and strength, reduce cravings, boost metabolism, and help maintain weight loss. Further, the antioxidant and bioactive properties of fish protein isolate aid in relieving several gastrointestinal issues, such as irritable bowel syndrome. Also, the fish protein isolate is easily soluble in food products and is highly suitable for human consumption. Moreover, rising disposable income, increasing population, and surging literacy rates, coupled with increasing awareness among people, are also indirectly contributing to market growth.
Based on the application, which segment is projected to grow at the fastest CAGR over the forecast period?
Based on the end user, food and beverages segment is projected to grow at the fastest CAGR over the forecast period. Fish protein isolates possess functional properties such as water-holding capacity, gelation, foam stability, and emulsion capacity. It is used in applications such as emulsification, gelling agents, and nutritional supplements. The fish protein isolate is utilized in the production of fortified and functional food products and ready-to-eat products. Moreover, it is used in the production of edible films, dipping solution before breading fillets and binding applications.
Based on the form, why is the powder segment have the largest revenue share?
Based on form, powder segment mainly has the largest revenue share. The growth of the segment is attributed to various benefits such as practical application, stable during storage, and does not require special storage conditions. In addition, the demand for powder form fish protein isolates have increased from various end use industries such as pharmaceuticals and nutraceuticals, food and beverages, personal care and animal nutrition owing to reduced its neutral odor and good solubility.
What is the largest region of the global fish protein isolates market?
North America accounted for the largest share of the global fish protein isolates market. North America is one of the most significant regions for the fish protein isolates market due to the increasing demand for protein rich food products, and rising awareness regrading health benefits of fish protein isolates. In addition, increasing consumption of fish protein isolates as protein rich dietary supplements to boost the overall health of the consumers is expected to surged the growth in North America.
Can you list some of the major players operating in the global fish protein isolates market?
The major players operating in the global fish protein isolates market are Advance International Inc; Bio-marine Ingredients Ireland Ltd; PeterLabs Holdings Sdn Bhd; Hofseth BioCare ASA; Sopropeche SA; Copalis Industry SAS; and Biomega Group AS.
What are the opportunities for fish protein isolates in the global market?
Fish is a protein-rich product containing low cholesterol; therefore, the demand for fish and fish-related products has increased globally. The fishery industry is growing due to improved aquaculture production, lower prices, changing cultural preferences, and surging demand for fish and seafood. The increasing number of fisheries resulted in a large volume of fish waste, which is processed and used to manufacture fish protein isolates. Thus, an increasing number of fisheries around the globe is expected to provide lucrative growth opportunities to the fish protein isolates market.
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The List of Companies - Fish Protein Isolates Market
- Advance International Inc
- Bio-marine Ingredients Ireland Ltd
- PeterLabs Holdings Sdn Bhd
- Hofseth BioCare ASA
- Sopropeche SA
- Copalis Industry SAS
- Biomega Group AS
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