EIN Presswire

Fish Protein Market to grow at 7.2% CAGR through 2021- 2031

DUBAI, DUBAI, UNITED ARAB EMIRATES, December 10, 2021 /EINPresswire.com/ — Increasing awareness among consumers regarding applications of fish protein in dietary supplements, cosmetics, personal care segment, pharmaceuticals, sports nutrition, and other industries is driving the fish protein market growth. Its use in preventing various health concerns and ensuring good heart and brain function will fuel consumption of fish protein among various age groups. According to a study by Future Market Insights (FMI), increasing focus on health and wellness and demand for natural ingredients in food products will push fish protein sales between 2021 and 2031.

ESOMAR-certified consulting firm Future Market Insights’ recent report forecasts the global fish protein market to exhibit 5.6% CAGR between 2016 and 2020. As per the study, growing health awareness and preference for organic and protein enriched food & dietary supplements has accelerated the sales of powder formulation of fish protein. Also, manufacturers have amplified the production of fish protein supplements available in different flavors such as chocolate, coffee, and strawberry to increase the sales of fish protein supplements.

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Fish protein has been traditionally used as feed ingredients in animal nutrition. It has a wide range of application in industries such as pharmaceuticals, cosmetics and personal care, sports nutrition, infant formula, food and beverages and dietary supplements. The consumption of fish protein helps to maintain good heart and brain health because it is rich in omega 3, 6 and 9 fatty acids as well as several antioxidant.

Growing health awareness and growing preference among consumers for organic food are factors expected to prompt food & beverage manufacturers to review current marketing strategies and introduce new techniques to increase their revenue share. Factors including rapid urbanization, changing lifestyles, and eating habits among consumers are expected to drive the market.

“Fish protein manufacturers are consistently developing supplements in powder form, which is resulting in high demand in food & beverage industry and creating scope for expansion in sports nutrition industry,” remarks the FMI analyst.

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Key Takeaways
• In terms of form, powder form is anticipated to hold maximum share of global fish protein market
• Fish protein isolate is expected to be one of the most lucrative segment, accounting for over 46% of total market share
• Application in food & beverages industry accounts for nearly 42% of fish protein sales
• Rising cases of obesity, and other severe health problems such as joint pains and more across United States are expected to aid the sales of fish protein products
• India’s fish protein market is set to expand at 5.8% CAGR through 2031
• Australia is spearheading the growth of Oceania’s fish protein market, accounting for 80.6% of total market share
Prominent Drivers
• Growing demand for health-enriching organic food products is improving the demand of fish protein
• Rising cases of cardiovascular diseases are increasing the consumption of dietary supplement enriched with omega-3 and fish protein, bolstering the growth
• Growing consumption of sea-food is amplifying the demand for fish-by products, providing lucrative opportunities for key players
Key Restraints
• Allergies associated with fish-based protein is likely to hinder the growth
• High cost of production and increased research & development expenditure may hamper the demand

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Competitive Landscape
Future Market Insights has listed some of the prominent market players for the global fish protein market which includes Omega Proteins, Bio-Oregon Protein, Colpex International Inc., Mukka Seafood Industries Limited, Aroma NZ, ScanBio Marine Group AS, Ingredients Inc., Peterlabs Holdings, Siam Industries International, Apelsa Guadalajara SA de CV, Bio Phoenix Formulations, and Qingdao Future Group. Market players are expanding their regional footprints by collaborating with numerous companies operating specifically in fish protein market.

About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

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Mr. Debashish Roy
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Report: https://www.futuremarketinsights.com/reports/fish-protein-market

Debashish Roy
Future Market Insights
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