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Published June, 2018
Opportunities in Global Fish Protein Market- Size, Trends, Competitive Analysis and Forecasts (2018-2023)

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Global Fish Protein Market-Trends, Opportunity and Forecasts

Fish protein powder is a dried and stable fish product, intended for human consumption, in which the protein is more concentrated than in the original fish flesh. The proteins of the fish have high digestibility and growth promoting value. Hence, it plays an important role in human nutrition. The available amino acids are more evenly balanced than the other proteins of animal origin. Fish proteins are rich in all the essential amino acids (particularly methionine and lysine), in contrast with most proteins from plant sources, which lack adequate amounts of one or more essential amino acids. Thus fish protein is has superior nutritional profile than egg albumen, bean protein and casein and possibly equal to chicken proteins.

The growing awareness about benefits of fish protein for food fortification and production of value added functional foods has encouraged the food industry to study different methods for developing fish protein ingredient from different raw materials. These fish proteins can be used as a functional ingredient in many food items because of their water holding capacity, oil absorption, gelling activity, foaming capacity and emulsifying properties. They can also be used as milk replacers, bakery substitutes, soups and infant formulas.

Market Dynamics

The fish protein industry is growing at a steady rate since last 4 to 5 years. Increasing research efforts, rising demand of sustainable protein solution and growing efficiency in protein extraction are some of the major factors that drives the fish protein industry. With increase in awareness about the health advantages of supplements products to the human body, the dietary supplement industry will be major driver for the growth of global fish protein market. Increasing vegan and vegetarian population are posing major restraint to the growth rate of fish protein industry. In addition, low awareness about the products containing fish protein and high costs also restraints the market of fish protein in the countries of Asian and South American regions.

By Types- Fish Protein Concentrate major category

Fish protein concentrate shares highest market share of 49%. The market of this protein type is relatively developed compared to other protein types. The content of protein in fish protein concentrate primarily depends upon the raw material that has been used during the production and the extent of water removal, but the end products usually contains at least 65% of protein. The raw material used for the production of fish protein concentrate is fresh fish of almost any kind and size.

Fish protein isolate is one of the purest form of fish protein with approximately 90% protein content. Because of high protein content, fish protein isolate requires intensive process of filtration. Because of high cost of processing, fish protein isolate costs more than the other forms of fish protein types. However, its demand is rising continuously with growing awareness which would result in increase in its market revenue in coming years. Hydrolysate fish protein contains approximately 60% of protein along with other minerals, vitamins and other vital contents. Unlike other protein types, hydrolyzed form of fish protein contains moisture and oil in minor quantity. This form of fish protein is used in various applications, such as snacks, meat, infant formulas, etc.

By Application-Sports Nutrition Opportunity Segment

The industry of beverage has been growing rapidly since past few years and variety of protein types are increasingly used for the production of beverage products ranging from flavored water to juices. Since past few years, with increase in fish protein exploration, the applications of fish protein isolates and fish protein concentrates has been growing across beverage products. Dietary supplements industry is one of the fastest growing industry across the globe. The demand of sports nutrition products is one of the major segments and presents huge opportunity for the application of fish protein.

Fish protein has been used in animal feed products since many years. It has been found that fish protein provides potential nutrition that is highly required for the growth of certain animal class. Other applications of the fish protein include cosmetics, personal care, chemical, pharmaceuticals and nutraceuticals industry.

Country Analysis-Asia-Fastest expanding market

The fish protein market across the globe is currently valued at $3.60 million in 2018. The market revenue is rising steadily since past few years. The market of fish protein in North America accounts for around 35% of global fish protein market share. U.S. and Canada both are major contenders of the fish protein market in the region. Both of these countries possess very good know-how of processing technologies that has helped the companies in the countries to capture most of the market share both at domestic and global level. Europe is also one of the leading regions of fish protein market across the globe. U.K, Germany, France, Spain and Russia shares highest market share in the region. Major drivers of fish protein market in the region is growing demand of supplement products among the population who are increasingly conscious about their health.

Majority of the countries in the Asia-Pacific region are emerging markets of fish protein. These countries are growing at a rapid rate in terms of economy since last decade. The growth of fish protein industry in these countries is relatively fast compared to the market in the western developed region. Large consumer base in the countries like India, China, Thailand, Indonesia and Australia presents huge market opportunity for the fish protein industry. Except China there are not many leading fish protein producers in the region. Hence, for multinational companies emerging economies in the region are hot-beds to expand their global operation and to capture most of the initial fish protein market share.

The fish protein industry in South America and Africa is still in an initial phase of development. South America fish protein market is growing at relatively faster rate when compared to the industry of North America and Europe. Brazil, Argentina and Colombia are leading fish protein markets in South America and with growing demand these countries are estimated to record high market revenue in coming years. Africa’s fish protein market is growing at a very low rate. South Africa, Egypt, Nigeria are frontrunners in the fish protein industry in the region.

Business Trends

Since fish protein market is still in initial phase of development, the number of fish protein manufacturers are very less. North America and Europe are leading region in terms of number major fish protein producers with U.S. alone has at least 5 global fish protein manufactures.  Omega protein (U.S.), Triple Nine Group A/S (Denmark), Sopropeche, Guyamas Protien Company and Hofseth Biocare ASA are major players in the market. In coming years, number of major fish protein manufacturers are expected to increase as the market is rising steadily.

Key Deliverables

  • Market trends since 2014 and five year forecasts of market growth 
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries  
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on growth potential of the market in key countries 
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

 

1. Introduction                                                                           

          1.1 Research Methodology                                                           

          1.2 Scope of the Study                                                                

          1.3 Assumptions                                                               

2. Summary                                                                     

          2.1 Market Summary by Type                                                                

          2.2 Market Summary by Application                                                                  

          2.3 Market Summary by Geography                                                                  

          2.4 Business Trends Summary                                                                

3. Industry Dynamics                                                                   

          3.1 Drivers                                                             

                   3.1.1 Rising awareness about the benefits of dietary supplements                          

                   3.1.2 Growing demand of lactose free and gluten free products                    

                   3.1.3 Rising consumption of Functional food products                                 

                   3.1.4 Expanding processed seafood industry                                              

          3.2 Restraints                                                          

                   3.2.1 Increasing trend of veganism and vegetarianism              

                   3.2.2 Low awareness about fish protein                                                   

                   3.2.3 High cost of extraction                                               

                   3.2.4 Less dexterity of product and limited scope of application                    

          3.3 Opportunities                                                              

                   3.3.1 Surging prescription of supplementary products                                  

                   3.3.2 Growing demand of alternative protein sources                                   

                   3.3.3 Increased investments in R&D                                               

                   3.3.4 Expanding Sports nutrition market                                                    

          3.4 Porter’s Five Forces Analysis                                                              

                   3.4.1 Bargaining power of Suppliers                                               

                   3.4.2 Bargaining power of Buyers                                                  

                   3.4.3 Degree of Competition                                               

                   3.4.4 Threat of Substitution                                                 

                   3.4.5 Threat of new entrants                                                         

          3.5 Future Trends in Fish Protein Industry                                                           

          3.6 Value Chain Analysis                                                               

          3.7 Industry Policies & Regulations                                                           

                   3.7.1 North America                                                 

                   3.7.2 Europe                                                 

                   3.7.3 Asia-Pacific                                                     

          3.8 Market Innovations                                                                

4. Market Size and Forecast                                                                   

          4.1 Market Share, by Types                                                          

                   4.1.1 Fish Protein Concentrate                                                       

                   4.1.2 Fish Protein Isolate                                                    

                   4.1.3 Hydrolyzed Fish Protein                                                        

          4.2 Market Share, by Processing                                                             

                   4.2.1 Isoelectric Solubilization                                                       

                   4.2.2 Solvent Extraction                                                      

                   4.2.3 Enzymatic Hydrolysis                                                  

                   4.2.4 Others                                                  

          4.3 Market Share, by Application                                                             

                   4.3.1 Food                                                    

                             4.3.1.3 Infant Formula                                              

                             4.3.1.2 Confectionary                                               

                             4.3.1.3 Bakery                                               

                             4.3.1.4 Snacks                                               

                             4.3.1.5 Dairy Alternatives                                          

                             4.3.1.6 Meat Analogues & Extenders                                               

                             4.3.1.7 Processed Seafood Products                                               

                             4.3.1.8 Others                                               

                   4.3.2 Beverages                                                      

                   4.3.3 Dietary Supplements                                                  

                   4.3.4 Animal Feed                                                    

                   4.3.5 Others                                                  

5. Country Market Share                                                                        

          5.1 North America                                                             

                   5.1.1 U.S.                                                     

                   5.1.2 Canada                                                 

                   5.1.3 Mexico                                                 

                   5.1.4 Others                                                  

          5.2 Europe                                                             

                   5.2.1 U.K.                                                    

                   5.2.2 Germany                                                        

                   5.2.3 France                                                  

                   5.2.4 Italy                                                    

                   5.2.5 Spain                                                   

                   5.2.6 Netherlands                                                    

                   5.2.7 Russia                                                  

                   5.2.8 Others                                                  

          5.3 Asia-Pacific                                                                  

                   5.3.1 China                                                   

                   5.3.2 India                                                    

                   5.3.3 Japan                                                   

                   5.3.4 South Korea                                                    

                   5.3.5 Australia                                               

                   5.3.6 Thailand                                               

                   5.3.7 Israel                                                   

                   5.3.8 Saudi Arabia                                                    

                   5.3.9 Others                                                  

          5.4 South America                                                             

                   5.4.1 Brazil                                                   

                   5.4.2 Argentina                                                        

                   5.4.3 Colombia                                                       

                   5.4.4 Others                                                  

          5.5 Africa                                                               

                   5.5.1 South Africa                                                    

                   5.5.2 Egypt                                                   

                   5.5.3 Nigeria                                                 

                   5.5.4 Others                                                  

6. Competitive Analysis                                                                         

          6.1 Market Share Analysis                                                             

          6.2 Growth Strategies of leading players                                                             

          6.3 Investment and Development Prospects                                                                 

                   6.3.1 Investment in past five years                                                

                   6.3.2 Investment Opportunities                                                     

          6.4 Competition Pattern                                                               

                   6.4.1 Concentration Ratio                                                   

                   6.4.2 Industry Competition                                                 

          6.5 Price Trend Analysis                                                               

                   6.5.1 Product Classifications and Their Prices                                             

                   6.5.2 Factors Influencing Prices                                                     

7. Company Profiles                                                                    

          7.1 Triple Nine Group A/S                                                             

          7.2 Advance International Inc.                                                                

          7.3 Ingredients Inc.                                                           

          7.4 Omega Protein                                                            

          7.5 Alaska Protein Recovery                                                          

          7.6 Guyamas Protein Company                                                               

          7.7 Bacarel Express                                                           

          7.8 BioOregon Protein                                                                  

          7.9 Sopropeche                                                                

          7.10 Hofseth Biocare ASA                                                             

          7.11 A. Costantino & C. S.P.A.                                                                

          7.12 Aroma NZ                                                                 

Appendix                                                                         

          Sources                                                                 

          Disclaimer                                                              

 

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