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Published June, 2018
Asia-Pacific Fish Protein Market- Size, Trends, Competitive Analysis and Forecasts (2018-2023)

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In terms of economic growth, Asia-Pacific is one of the rapidly growing regions in the world. The growth of Asia-Pacific region has mostly been captured by intensive industrialization and infrastructure development. China and India are leading countries in the Asia-Pacific region. The protein industry in Asia-Pacific region has recorded considerable growth in past few years. Whey protein and soy protein are most popular protein types in the region, the popularity of both protein types is mainly because of its highest respective applications across dietary supplements and food industry. In past few years, the demand for alternative cheaper sources of protein has been growing steadily. Insect protein and fish protein are novel protein types which are expected to fulfil the expectations for cheaper protein rich ingredients from price sensitive Asian consumers.

Presently, Asia-Pacific region shares around 23% of global fish protein market share and holds estimated $0.83 million market revenue in 2018. Major drivers of fish protein market in the region includes rising health consciousness, improving lifestyle of middle income and lower income families, growing sensitiveness towards lactose and gluten and ever-growing awareness about the health advantages of protein among both regular population and fitness enthusiasts. Considering these drivers, the fish protein industry in region is expected to attain the value of $1.14 million by 2023, growing at a CAGR of 6.5% during the forecasting period 2018 to 2023.

Japan currently holds the leading position in terms of market revenue. Japan possess cutting edge food processing technology and has huge potential to innovate effective methods of fish protein extraction. Moreover, increasing number of Japanese consumers are giving up meat and meat-based products because of its health and switching to meat alternative products. Given the gap between current consumption and untapped  customer base, fish protein manufacturers have huge opportunity to expand their product range. Australia’s fish protein market captures around 15% of market share and possess similar attributes to the market of fish protein in western developed region.

China and India are rapidly growing nations in the region. Both the countries are major producers and consumers of fish and fish products. The fish protein market though in nascent stage but with rising demand for protein rich products and developing food processing industry provides huge opportunity to the fish protein market. Youngsters and middle-aged population in these countries are switching to gym and fitness clubs to lead healthy lifestyle and to maintain body weight. Hence, the rapidly growing dietary supplements industry of China and India presents huge scope for the fish protein manufacturers to expand fish protein application. South Korea and Thailand, both capture significant fish protein market share. Population in both countries are shifting towards the consumption of meat alternative products which presents opportunity for application of fish protein across food industry.

Rapidly rising market value of alternate protein types such as whey, soy and wheat protein, increasing adoption rate of vegan and vegetarian lifestyle, growing concern about the environment and low awareness about the fish protein in most of the countries in Asian region are some of the major restraints of the fish protein market in coming years. Aroma NZ based in New Zealand is among the leading fish protein producer across the globe. The company is planning to expand its operation across other region in the world by implementing various strategies such as product launch and acquisition. Though, at present the competition in the fish protein industry of Asia-Pacific is very low but with growing number of new entrants, the competition ratio is expected to surge in coming years

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
  • 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 Asia-Pacific                                                                  

                   5.1.1 China                                                   

                   5.1.2 India                                                    

                   5.1.3 Japan                                                   

                   5.1.4 South Korea                                                    

                   5.1.5 Australia                                               

                   5.1.6 Thailand                                               

                   5.1.7 Israel                                                   

                   5.1.8 Saudi Arabia                                                    

                   5.1.9 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                                                                 

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