Demand for Powder Formulation of Fish Protein Increasing, Accounting for Over 95.4% Sales: Future Market Insights
Key players operating in fish protein market are intently focusing on incorporating latest technology such as steam treatment to maintain the quality of the products.
DUBAI, U.A.E., May 20, 2021 /PRNewswire/ -- 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.
Surging demand for fish protein for various application within diverse end-use sectors such as food & beverages, pharmaceuticals, and others is expected to drive the market. Longer shelf-life and easy transportation have encouraged the production of powder formulation of fish protein.
Furthermore, rising health issues such as obesity, increased sugar levels, and others leading to cardiovascular diseases have increased the consumption of fish protein supplements across countries such as United States, India, Australia, and the UK, thereby, fueling the sales of fish protein supplements. Based on the aforementioned factors, FMI estimates, global fish protein market is poised to expand at 7.2% CAGR through 2031.
"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
Discover more about the fish protein market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/fish protein-market
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.
For instance, on 25th January 2021, Avant Meats Company Limited announced the acquisition of Vinh Hoan Corporation, which is a leading seafood and protein producer, to accelerate the commercialization of cultivated fish protein by leveraging its global sales network and industrial manufacturing capability.
Also, Buhler, a leading manufacturer, on 2nd February 2021, announced the launch of PolyCool 1000 for meat and fish plant-based alternatives.
Furthermore, Royal DSM, a global science-based company active in Nutrition, health and sustainable living, on March 3rd 2021, announced the launch of Maxavor®- Fish YE- a new vegan, 100% allergen-free flavor solution.
More Insights on FMI's Fish Protein Market
Future Market Insights, in its new offering, provides an unbiased analysis of the fish protein Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the fish protein market with a detailed segmentation on the basis of form (powder and liquid), product (fish protein isolate, fish protein concentrate, and fish protein hydrolysate), application (food & beverage, cosmetics & personal care, sports nutritional & dietary supplement, pharmaceuticals, and others), across major regions (North America, Latin America, Europe, East Asia, South Asia-Pacific, and Middle East & Africa).
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Explore FMI's Extensive Coverage on Food & Beverage Domain
Fish Protein Concentrate Market: The fish protein concentrate market study by Future Market Insights (FMI) provides a deeper insights on the new trends while incorporating the impact of ongoing trends, and growth & restraining factors during the forecast period of 2021 to 2031. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade.
Fish Protein Isolate Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides insights driving fish protein isolate market demand in latest report. Additionally, to find the effect of COVID-19 on the fish protein isolate market in general, the study monitor global fish protein isolate sales in 20+ high-growth markets and addresses their end-user in particular.
Fish Powder Market: In its latest study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers in-depth insights on key factors that influence the demand for Fish powder. The report covers global demand for Fish powder in more than 20 high potential markets, in addition to an in-depth analysis of the impact of COVID-19 on the global Fish powder market.
About Future Market Insights (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, and has delivery centers in the UK, 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. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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