Fish protein hydrolysates market to exceed $ 588.86 million
Pune, India., June 17, 2021 (GLOBE NEWSWIRE) – Fish Protein Hydrolysates Market: Key Insights
According to our new research study on “Fish Protein Hydrolyzate Market to 2027 – Global Analysis and Forecast – by Technology, Form, Source and Application” the Fish Protein Hydrolysates Market Size is expected to increase from US $ 407.41 million in 2019 to US $ 588.86 million by 2027; it is expected to grow at a CAGR of 4.8% from 2020 to 2027. The growth of the market is attributed to the increasing use of these products in the bakery and animal feed, pharmaceutical and cosmetic industries among others.
Fish Protein Hydrolyzate Market: Competitive Landscape and Key Developments
Bio-marine Ingredients, Copalis, CR Brown Enterprises, Diana Group, Hofseth BioCare ASA, Janatha Fish Meal & Oil Products, Bio Ages Innovation., SAMPI, Scanbio Marine Group AS and Sopropêche are among the key companies in the protein hydrolysates market of fish . Market leaders continuously focus on strategies such as product development and mergers and acquisitions to expand their presence worldwide and meet consumer demands.
In 2019, North America accounted for the largest share of the global fish protein hydrolysates market. The growth of the market in this region is mainly attributed to the increasing demand for fish protein hydrolysates in animal feed, pharmaceuticals and cosmetics among others. Additionally, increasing purchasing power, increasing popularity of natural and organic personal care products, increasing attention to animal and companion animal health, and increasing research efforts and development to broaden and diversify the range of applications of fish protein hydrolysates contribute to the growing market in the region.
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Growing Demand for Fish Protein Hydrolyzate in Nutri-Cosmeceuticals Drives Market Growth:
There is growing interest in fish protein hydrolyzate from end-user industries, especially for supporting skin health through micronutrients. The growing consumer preference for the consumption of nutritious and chemical-free food products is expected to drive the market growth in the coming years. Besides heavy use in food industries, fish protein hydrolyzate is also used in the production of several animal feeds. Fish protein hydrolyzate is also used as a binding agent in pet food products. Since fish protein hydrolyzate is a rich source of micronutrients, it is known for its anti-aging properties for the skin, controlling blood pressure and improving bone growth in animals. Fish protein hydrolyzate finds its applications in the cosmetic and biological pharmaceutical industries, which provide wider growth opportunities for manufacturers operating in the fish protein hydrolysates market. Considering its multiple advantages as a nutritional supplement, cosmetic ingredient, etc., fish protein hydrolyzate qualifies as a biological nutria-cosmeceutical substance. Due to the wide application of fish hydrolyzate, the supply chain is growing steadily over the years, and this is expected to continue during the forecast period.
Fish Protein Hydrolyzate Market: Segment Overview
By technology, the global fish protein hydrolyzate market is segmented into hydrolysis, autolytic hydrolysis, and enzymatic hydrolysis. In 2019, the enzymatic hydrolysis segment dominated the market. The process turns out to be the best way to hydrolyze parts of fish, especially fish skin, without losing their nutritional importance. It is particularly a preferred method in the pharmaceutical and food industries because it does not leave residues of toxic chemical or organic solvents in the solution of the product. The steps involved in the enzymatic hydrolysis begin with the choice of an appropriate enzyme, followed by the preparation of the substrate, the measurement of the enzymatic reaction rate, the homogenization of the working solution, the deactivation of the enzymes. endogenous by warming up the working solution and the end of the enzymatic reaction, followed by hydrolysis of fish proteins. Commercial enzymes such as trypsin, alkalase, pepsin, pancreatin, papain and thermolysin are used in enzymatic hydrolysis.
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On the basis of form, the fish protein hydrolysates market is segmented into powder, paste, and liquid. The powder segment dominated the market with the largest market share in 2019. The demand for fish protein hydrolyzate in powder form is higher than in liquid form, because the former has a longer shelf life. and ease of transport and storage. .
According to the source, the fish protein hydrolysates market is segmented into tuna, sardines, Atlantic salmon, crustacean, and others. In 2019, the tuna segment dominated the market. Tuna is a saltwater fish that belongs to the mackerel family. World production of tuna, especially skipjack, is increasing at a faster rate. Europe, the United States, and developing countries prefer to eat canned tuna because it is a reasonably priced source of protein that does not require a cold room to keep.
By application, the fish protein hydrolysates market is segmented into animal feed, pet food, pharmaceuticals, cosmetics, and others. The animal feed segment dominated the fish protein hydrolysates market with the highest market share in 2019. The emergence of communicable diseases in livestock such as beef, cattle and cows led to an increase the incorporation of additional additives in food to increase the assimilation of food, followed by the improvement of the immune response and the improvement of the valuable microflora; this is driving the fish protein market for the animal feed additive segment. The demand for animal feed to increase growth performance and improve protein content is driving the market growth for this segment. The inclusion of fish protein hydrolysates helps to improve feed efficiency, thereby improving the yield and quality of milk, meat and eggs. Strict regulatory changes banning antibiotics as food additives due to their adverse effects on animals as well as humans have promoted the use of natural growth promoters, including vitamins, amino acids, probiotics, pigments, antioxidants, enzymes and flavors.
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Impact of the COVID-19 pandemic on the Fish protein hydrolyzate market:
In May 2021, the United States, India, Brazil, Russia, France, United Kingdom, Turkey, Italy and Spain were among the countries most affected by the COVID pandemic- 19. The pandemic has affected economies and industries in various countries due to lockdowns, travel bans and business closures, further affecting business collaborations and partnership opportunities. Food and beverage is one of the major industries facing severe disruption such as supply chain disruptions and office closures amid this outbreak. The United States is the leading manufacturer and consumer of fish protein hydrolyzate. However, the lockdown of various factories and factories across the country has affected global supply chains, hampering the manufacturing, delivery schedules and sales of protein products in the country. Various companies have already announced possible delays in product deliveries and forecast a decline in their future sales.
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