The global Fish Protein Hydrolysate Market was valued at US$ 389.11 Mn in 2018, and it is expected to grow at a CAGR of 5.2% during the forecast period 2019–2027 to reach US$ 610.87 Mn by 2027. Fish protein hydrolysate is a bioactive compound that is produced by decomposing the minced fish together with enzymes and involves breaking down proteins into smaller peptides and amino acids. In 2018, North America accounted for the largest share of the global fish protein hydrolysate market.
However, Asia-Pacific is estimated to grow at a fastest CAGR during the forecast period. Factors such as increased demand for protein supplements coupled with increased use of the personal and sports fitness product drives its demand in the APAC region. Owing to the traditional use of fish protein in health, skincare, and hair care, production of the fish protein hydolysate in the area is mostly consumed at a local level. Due to the various health, personal benefits which it has the APAC is consuming the fish protein hydrolysate at a faster pace. Growth in cosmetic products production in developed and developing countries such as Japan, South Korea, and India is projected to boost fish protein demand in this region.
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Top Leading Companies :
The market for global fish protein hydrolysate is concentrated with some very well-established players. Some of the key players in the global fish protein hydrolysate market are Bio-marine Ingredients Ireland Limited, Copalis Sea Solutions, Diana Group, Hofseth BioCare ASA Janatha Fish Meal & Oil Products, Scanbio Marine Group AS, SOPROPÊCHE, Marutham Bio Ages Innovations (P) Ltd, CR Brown Enterprises, and SAMPI among others.
On the basis of application, the global fish protein hydrolysate market has been segmented into animal feed, pet food, pharmaceuticals, cosmetics, others. In 2018, the animal food segment accounted for the largest market share in the global fish protein hydrolysate market. Rising demand for animal-based food products to enhance protein content in diets fuel animal feed additives demand. fish protein hydrolysate helps in improving feed efficiency, which improves milk, meat, and egg yield along with quality for human consumption, thereby contributing towards industry growth. Strict regulatory amendments regarding antibiotics ban as feed additives due to their ill effects on animals as well as humans has promoted use of natural growth promoters including vitamins, amino acids, probiotics, pigments, antioxidants, enzymes and flavors which may stimulate fish protein hydrolysate industry growth during the forecast period.
Fish protein hydrolysate is stated as a mix of degraded proteins which are extracted by the protein hydrolysis of fish material or fish. It is a bioactive compound that is produced by decomposing the minced fish together with enzymes and involves breaking down proteins into smaller peptides and amino acids. Fish protein hydrolysate is generally produced through enzymatic hydrolysis technique.
The global fish protein hydrolysate is segmented as technology, form, source and application. On the basis of technology, the fish protein hydrolysate market is categorized into acid hydrolysis, autolytic hydrolysis and enzymatic hydrolysis. On the basis of form, the fish protein hydrolysate market is categorized into powder and liquid. On the basis of source, the fish protein hydrolysate market is categorized into tuna, sardine, Atlantic salmon, crustacean, and others. On the basis of application, the fish protein hydrolysate market is categorized into animal feed, pet food, pharmaceuticals, cosmetics, and others.
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