Pune, India, June 30, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Fish Protein Hydrolysate Market for Animal Feed Application Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2030 - COVID-19 Impact and Global Analysis By Form, Application and Geography”, the global fish protein hydrolysate market for animal feed application size is expected to grow from USD 243.38 million in 2023 to USD 339.87 million by 2030; it is estimated to grow at a CAGR of 4.9% from 2023 to 2030.
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Fish Protein Hydrolysate Market for Animal Feed Application Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 243.38 Million in 2023 |
| Market Size Value by | USD 339.87 Million by 2030 |
| Growth rate | CAGR of 4.9% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2023 |
| No. of Pages | 163 |
| No. of Tables | 59 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Form, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Vita Actives Ltd., NAN Group JSC, Janatha Fish Meal & Oil Products, 21 Pine Freezers Road Pty Ltd, Scanbio Marine Group AS, Symrise AG, Kemin Industries Inc, Euro Feed Services, Holland BV, Bio-marine Ingredients Ireland Ltd, and Copalis Industry SAS |
Browse key market insights spread across 163 pages with 59 list of tables & 81 list of figures from the report, "Fish Protein Hydrolysate Market for Animal Feed Application Forecast to 2030 - COVID-19 Impact and Global Analysis by Form (Dry, Liquid) and Application [Poultry (Layers, Broilers, Others), Ruminant, Swine, Aquaculture (Salmon, Tuna, Shrimps, Others), Pets (Dogs, Cats), Others]" in detail along with the table of contents: https://www.theinsightpartners.com/reports/fish-protein-hydrolysate-market-for-animal-feed-application
Global Fish Protein Hydrolysate Market for Animal Feed Application: Competitive Landscape
The key players operating in the global fish protein hydrolysate market for animal feed application include Vita Actives Ltd., NAN Group JSC, Janatha Fish Meal & Oil Products, 21 Pine Freezers Road Pty Ltd, Scanbio Marine Group AS, Symrise AG, Kemin Industries Inc, Euro Feed Services, Holland BV, Bio-marine Ingredients Ireland Ltd, and Copalis Industry SAS. Players operating in the fish protein hydrolysate market for animal feed application are focusing on providing high-quality products to fulfill customer demand.
Fish Protein Hydrolysate Market for Animal Feed Application: Key Insights
In 2022, Asia Pacific held the largest share of the global fish protein hydrolysate market for animal feed application and is also expected to register the highest CAGR during the forecast period. China, Indonesia, India, Vietnam, and the Philippines are the top Asian countries that lead the production capacity of aquaculture in the world and comprise more than half of the total production.
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More than 90% of the global aquaculture harvest is in Asia. The proliferating aquaculture production increases the intake of aquafeed across the region. Hence, aquafeed producers are increasingly seeking nutritional ingredients to formulize protein-rich feed. Fish protein hydrolysate is a prominent ingredient that is a major requirement of feed producers. The availability of small molecular weight peptides and free amino acids in fish protein hydrolysate improves feed palatability, stimulating fish feed intake. Thus, benefits associated with fish protein hydrolysate encourage feed manufacturers to incorporate fish protein hydrolysate in fish feed, which is projected to propel the demand for fish protein hydrolysate in Asia Pacific.
Growing Fish Waste Revolutionized Fish Protein Hydrolysate Demand:
There is a rapid growth in the production of fisheries and aquaculture industry driven by the development of fishing technologies. With rising production of fisheries across the globe, fish waste is produced in a substantial amount. According to the National Institute of Biotechnology Information (NCBI), about two-thirds of the total fish production is discarded as waste. According to the Food and Agriculture Organization (FAO), apart from the quality losses in the supply chain worldwide, about 130 million tonnes of fish waste is produced yearly (i.e., ~75% of total fish production). The large amount of fish waste creates enormous economic and environmental concerns. Thus, the recycling and disposal of these wastes have become an important, compelling issue. Fish waste can be converted into value-added products such as fish protein hydrolysate by adding various proteolytic enzymes. The skin, heads, bones, viscera, and liver of fish waste is a good source of amino acids, antioxidants, proteins, and peptides. The waste has also been found to possess desirable bioactive and functional peptides. Thus, companies are highly emphasizing on using fish waste as protein for various industries, animal feed being one of the significant industries.
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Fish Protein Hydrolysate Market for Animal Feed Application: Segmental Overview
Based on application, the fish protein hydrolysate market for animal feed application is segmented into poultry, ruminants, swine, aquaculture, pets, and others. The poultry segment held the largest market share in 2021; the aquaculture segment is expected to grow at the highest CAGR during the forecast period. Aquaculture is the world's fastest-growing industry, with massive growth prospects. It plays a significant role in global food production; over half the aquatic foods for human consumption are farmed. Hence, the growing aquaculture industry and the demand for aquafeed incorporated with essential ingredients such as fish protein hydrolysate hold steady growth opportunities for aquafeed producers. Fish protein hydrolysates have been used in aquaculture feeds to enhance fish growth and survival. It promotes the growth and immunity levels of numerous culture species. Thus, the demand for fish protein hydrolysate in the aquaculture industry is increasing and expected to promote the growth of the segment.
Impact of COVID-19 Pandemic on Fish Protein Hydrolysate Market for Animal Feed Application:
The COVID-19 pandemic adversely impacted the economies and industries due to the disruption of global supply chains, shortage of raw materials and laborers, and shutdown of manufacturing units, leading to a huge slump in product manufacturing and distribution activities. Problems in logistic supply chains led to the pause in international exports and imports. Moreover, during the peak of the pandemic, various countries, including China, closed livestock and poultry trading and slaughter markets in most of the regions. Such barriers in the livestock industry hampered the demand for feed ingredients which had a negative impact on the demand for fish protein hydrolysate for feed during the pandemic.
However, in 2021, governments of various countries, such as the US, China, India, the UK, and France, revoked various restrictions and permitted businesses to operate at full capacity. This helped manufacturers in the animal feed industry to overcome the demand and supply gaps. Also, the awareness and inclination toward sustainable protein sources increased, favoring the growth of the fish protein hydrolysate market for animal feed application.
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Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Fish Protein Hydrolysate Market - The fish protein hydrolysate market was valued at US$ 407.41 million in 2019 and is projected to reach US$ 588.86 million by 2027; it is expected to grow at a CAGR of 4.8% during the forecast period.
Fish Oil Market - The fish oil market was valued at US$ 2,087.39 million in 2021 and is projected to reach US$ 3,178.28 million by 2028. It is expected to grow at a CAGR of 6.2% from 2021 to 2028.
Fish Protein Isolates Market - The fish protein isolates market size is expected to reach US$ 1,534.01 million by 2028; it is expected to grow at a compound annual growth rate of 4.4% from 2022 to 2028.
Omega-3 Supplements Market - The omega-3 supplements market is expected to reach US$ 50,845.88 million by 2028 from US$ 28,817.291 million in 2021; it is expected to grow at a CAGR of 8.4% during 2021 to 2028.
Animal Feed Additives Market - The animal feed additives market was valued at US$ 34,583.5 million in 2021 and is projected to reach US$ 49,874.8 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.
Aquaculture Market - The aquaculture market was valued at US$ 267,423.64 million in 2021 and is projected to reach US$ 357,903.27 million by 2028 and is expected to grow at a CAGR of 4.3% from 2021 to 2028.
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