Fish Protein Hydrolysate Market Size Worth $361.5 Million By 2027

August 2020 | Report Format: Electronic (PDF)

Fish Protein Hydrolysate Market Growth & Trends

The global fish protein hydrolysate market size is projected to reach USD 361.5 million by 2027 registering a CAGR of 5.1%, according to a new report by Grand View Research, Inc. The demand for Fish Protein Hydrolysate (FPH) is projected to be driven by the growing consumption of chemical-free and nutrient-rich food products among consumers across the globe. On account of the presence of vitamin A & D and minerals, the product is utilized as an ingredient in various food applications.

It is also used in the manufacturing of animal feed products and as a binding and gelling agent in pet food products, including fishmeal. Since FPH is a rich source of micronutrients and fatty acids, it provides several health benefits, such as boosting the metabolic system and aiding in the development of healthier skin and bones in animals.

Furthermore, rising preference for good-quality liquid and solid packaged pet food products over the traditional home-cooked foods is estimated to support the market growth. The rapid incorporation of dried/powdered hydrolyzed fish protein in various cat foods, as a result of the product’s economical nature, taste refining characteristics, and easy availability is anticipated to spur the market growth over the next few years.

On the basis of source, anchovy-based protein hydrolysate led the global market and is projected to record a CAGR of 5.1%, in terms of revenue, from 2020 to 2027. Anchovy protein hydrolysate consists of vital amino acids, including proline, tryptophan, lysine, and tyrosine. When incorporated with functional food products, these amino acids help in boosting the basic metabolic system and enhance cognitive performance in human beings.

Asia Pacific is expected to witness the fastest CAGR over the forecast years on account of the rising consumption of animal-rich protein sources. Changing lifestyles and rapid urbanization are affecting consumer consumption patterns. In addition, the growing scope of application for powdered FPH in cosmetics, such as hair masks, face creams, and face serums are projected to positively influence the market demand over the next few years.

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Fish Protein Hydrolysate Market Report Highlights

The powder-based FPH segment is projected to account for the highest revenue share by 2027. Various factors, such as low operating costs, ease of storage and transportation, and longer shelf life than a liquid solution, are projected to augment the demand for powdered FPH
Anchovy source segment accounted for the largest revenue share of over 32% in 2019. Anchovy constitutes various endogenous chemicals, including chymotrypsin, trypsin, and cathepsin, which help in the hydrolyzation of proteins
Growing demand for the anchovy protein hydrolysate in skincare products, on account of the product’s ability to defend scleroprotein and nourish the skin, is likely to fuel the segment growth
Europe is expected to witness steady growth on account of the rising preference for natural and organic pharmaceutical and cosmetic products. In addition, strong FPH manufacturing base and increased focus of companies on R&D activities are projected to drive the regional market
Companies are investing in marketing and advertising activities to gain brand recognition and to diversify their product portfolio
For instance, manufactures, such as Bio-marine Ingredients Ireland Ltd. and Hofseth BioCare, are advertising on blogs and other social media platforms in an attempt to highlight the distinguished benefits of FPHs