The fish protein isolate market is set to hit $1.1 billion by 2030, growing at a 7.3% CAGR from 2020. Increased consumer demand for processed foods and healthier diets is prompting food industry businesses to re-strategize and capture a larger market share.
The global fish protein isolate market size by 2030, is anticipated to reach US$ 1.1 billion. A new analysis by Future Market Insights (FMI) projects that the market will grow at a compound annual growth rate (CAGR) of 7.3% from 2020 to 2030. The report states that rising consumer preference for processed foods and diets low in fat, sugar, and salt as well as rising health consciousness are expected to push food industry businesses to reevaluate their current marketing strategies and implement fresh ones in order to capture a larger market share.
This report includes in-depth insights into the fish protein isolate market. Some of these are:
- The estimated value of the market is at US$ 565.7 Mn in 2020
- Various companies are increasingly entering the fish protein isolate market in Asia Pacific in order to capitalize on the prevailing opportunities in the region
- Rising consumption of seafood has contributed to the growth of the fish protein isolate market
- Additionally, companies are focusing on marketing their fish protein isolate products with clean label certification to attract customers and retain the existing ones.
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“The nutritional profile of fish protein isolate is makes it highly desirable for application in various products. Manufacturers are focusing on implementing advance technology in packaging due to which the shelf life of fish protein isolate is improving. Furthermore, they are successfully launching unique products using fish protein isolate, which will create growth opportunities for the market” says an FMI analyst.
Despite Focus on Healthy Eating Habits, Changes in Consumption Pattern Due to COVID-19 Outbreak will Impact Growth
It is anticipated that factors including shifting eating and lifestyle patterns will increase consumer demand for processed foods and convenience foods. Rising living standards, particularly in developing nations, are driving up demand for fish protein isolate in protein bars or capsule form. The use of supplements containing fish protein isolate is growing in popularity in Europe and is very common among customers in the US and Canada.
Globally, the number of COVID-19 patients are increasing rapidly. As the pandemic crosses one grim milestone after another and in the absence of proper treatment or vaccinations consumers are likely to look for immune-boosting options. They demand for products with higher nutritive value and health benefits will rise, creating an environment conducive to the growth of the fish protein isolate market.
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Plant-Based Protein Market by Category
By Product Type:
- Soy Protein
- Wheat Protein
- Pea Protein
- Others
By Form:
- Isolates
- Concentrates
- Hydrolysates
By Nature:
- Organic
- Conventional
By Application:
- Nutritional Products
- Sports Nutrition
- Medical Nutrition
- Infant Nutrition
- Bakery
- Snacks & Cereals
- Dairy
- Confectionary and Dessert
- Beverages
- Animal Feed
- Others
By Region:
- North America
- Latin America
- East Asia
- Europe
- South Asia
- Oceania
- Middle East and Africa (MEA)
Who is winning?
Few of the leading players operating in the fish protein isolate market are Omega Protein Corporation, Titan Biotech Limited, Peterlabs Holdings Barhad, A. Costantino & C. s.p.a, Sopropeche S.A., Mukka Sea Food Industries Private Limited, Bio-Oregon Protein, Inc., FF Skagen AS, Diana Aqua, TripleNine Group A/S and other players.
These companies are focusing on mergers and acquisition to expand their business footprints and to increase their production capacity. Leading players are investing in research and development to produce innovative products using fish protein isolate.
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Significant Contributions of the Report
- Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
- Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
- Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
- Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistic to gain a competitive edge in the industry
- Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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