Fish Protein Market Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2030
The global fish protein isolate market size is expected to spike enormously due to the increasing consumption of healthy foods among consumers. The consumer preference for a healthy diet can drive market growth, shares Fortune Business Insights™ in its report titled “Fish Protein Market, 2023-2030.”
Fish protein isolate is a protein extracted from the isoelectric precipitation/solubilization of fish and is available in powdered and liquid form. It is used in several fortified foods such as infant formula, protein bars, cereals, and others due to its nutritional value. It contains omega-3 fatty acids, high protein, and condensed sodium content, and it is soluble in various food products. Further, consumers’ rising adoption of healthy lifestyles has led to the adoption of healthy food products and supplements. Furthermore, the consumer’s changing diet preference and increased spending capacity on healthy food products facilitate the consumption of fish protein isolate. Its robust demand is attributable to the increasing awareness among consumers regarding the product’s benefits. Therefore, this factor can boost market growth during the upcoming years.
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Impact of COVID-19
Inclining Sales to Boost Market Growth
This market is expected to grow positively during the COVID-19 pandemic due to the changing consumer preference regarding the consumption of functional foods. The adoption of a healthy lifestyle and increasing spending capacity leads to the adoption of healthy food supplements. The lower prices of fish protein isolate and its adoption in several foods are likely to boost its demand. Manufacturers are focusing on online retail platforms to sell their products. E-commerce website’s convenient shopping attracts several consumers, which, in turn, can enhance product sales. In addition, the adoption of part-time shifts and half capacity is likely to enhance the production process. Thus these factors can attract market growth during the pandemic.
By form, the market is segmented into liquid and powder. Based on application, it is categorized into animal feed, food & beverage, cosmetics & personal care products, and pharmaceuticals. Geographically it is clubbed into Europe, North America, South America, Asia Pacific, and the Middle East & Africa.
Highlights of the Report
This report highlights the leading segments and the latest trends. It comprehensively studies the impact of COVID-19 and the driving and restraining factors. Additionally, it examines the regional developments and the strategies devised by the market’s prominent companies.
Drivers and Restraints
Robust Demand for Protein-Rich Food Supplements to Foster Market Growth
Fish protein isolate is used extensively in several protein supplements, protein powders, protein bars, and other products due to its excellent health benefits. It provides omega-3 fatty acids to the body and enhances muscle strength. It improves immunity and provides nutrients necessary for mental functioning in the human body. Fish protein isolate is a cheaper source of protein and satisfies the body’s requirement of micronutrients. Individuals with an active lifestyle, sportsmen, athletes, and others use this protein due to its nutritional benefits. It is used to produce pocket-sized food products such as protein bars, milk products, protein drinks, and others. Fish protein isolate is used commonly in protein powders due to their solubility and easy consumption. In addition, it is used in poor countries to curb malnutrition, which, in turn, can drive the fish protein isolate market growth.
However, the adoption of veganism and the availability of plant-based protein products can hamper the market growth.
Adoption of Healthy Lifestyle by Consumers to Bolster Market Growth
North America is projected to dominate the fish protein isolate market share due to consumers’ adoption of healthy lifestyles. In addition, the increasing trends of consuming healthy food products are likely to boost the market growth. For example, as per the International Food Information Council Foundation (IFIC), protein consumption reached 54% in 2017 compared to the previous year. It is approximately 50% more compared to the previous year.
Asia Pacific is the leading producer of fish protein isolate globally, which, in turn, can boost its market growth. As per the Food and Agriculture Organization (FAO), China is a leading producer of fish and a major producer of fish products and fish. In Indonesia, Bangladesh, and Sri Lanka, fish protein isolate is consumed extensively due to its lower prices and health benefits.
Prominent Companies Devise Partnership Strategies to Enhance their Market Position
The prominent companies operating in the market devise partnership strategies to enhance their market position. For example, Nutreco N.V. engaged in a partnership with Blue Nalu Inc. in January 2020 to meet the consumer requirements for seafood protein and enhance its market position. Further, the companies utilize advanced production techniques to reduce time consumption and enhance productivity during the manufacturing process. This strategy can enable the company to achieve its goals.
- May 2020: Palladium Equity Partners, LLC completed its acquisition of Butts Foods, Inc. to expand its market reach and satisfy consumer needs.
List of Key Players Profiled in the Fish Protein Isolate Market Report
- Omega Protein Corporation
- Titan Biotech Limited
- Constantino & C. s.p.a
- Cooke, Inc.
- Peterlabs Holdings Barhad
- Mukka Sea Food Industries Private Limited
- Bio-Oregon Protein Inc.
- Diana Group
- TripleNine Group A/S
- Siam Industries International
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