Fish Protein Hydrolysate Market Size, Share, Report by 2033

The global fish protein hydrolysate market size reached USD 317.20 million in 2023 and is anticipated to hit around USD 449.20 million by 2033, growing at a CAGR of 3.54% from 2024 to 2033.

Fish Protein Hydrolysate Market Size 2024 to 2033

The fish protein hydrolysate market is a rapidly growing industry, driven by the increasing demand for nutritional and health supplements, animal feed, and food products containing fish-derived proteins. Fish protein hydrolysates are made by breaking down fish proteins using enzymes or chemicals, resulting in smaller peptides that are easily absorbed by the body. These products have a wide range of applications, including use in dietary supplements, sports nutrition, infant formulas, pet food, and aquaculture feed. The market is seeing a surge in demand due to the growing awareness of the health benefits of fish proteins and the rising popularity of high-protein diets.

Growth Factors
Several factors contribute to the growth of the fish protein hydrolysate market. These include the increasing demand for functional foods and beverages, the rise in health-conscious consumers seeking protein-rich diets, and the use of fish protein hydrolysates in sports nutrition and weight management products. Additionally, the expansion of the aquaculture industry and the growing trend of using fish protein hydrolysates in animal feed and pet food are boosting market growth. The sustainability and eco-friendliness of using fish waste to produce hydrolysates also appeal to environmentally conscious consumers.

Region Insights
The fish protein hydrolysate market is expected to see growth across various regions, with the Asia-Pacific region leading the market due to its large population, increasing disposable income, and strong aquaculture industry. Countries such as China, India, and Japan are major consumers and producers of fish protein hydrolysates. North America and Europe are also significant markets, driven by the demand for high-protein diets and functional foods. Latin America and the Middle East & Africa regions are anticipated to witness steady growth as awareness of fish protein hydrolysates and their benefits increases.

Drivers
The market's growth is driven by the increasing demand for protein-rich diets, particularly in sports nutrition and health supplements. The rise in aquaculture production provides a consistent supply of fish by-products, which can be used to produce fish protein hydrolysates. Additionally, the potential health benefits associated with fish protein consumption, such as heart health and muscle recovery, drive consumer interest in fish protein hydrolysates.

Opportunities
The fish protein hydrolysate market offers numerous opportunities for expansion, including product innovation and the development of new applications in the food, beverage, and animal feed industries. Companies can capitalize on the growing trend of clean-label and natural products by offering fish protein hydrolysates made from sustainable sources. There is also potential for market growth in emerging markets where awareness of fish protein hydrolysates is increasing.

Challenges
Despite the positive outlook, the fish protein hydrolysate market faces several challenges, such as regulatory hurdles and potential safety concerns associated with fish protein hydrolysates' production. Ensuring consistent product quality and purity can be difficult due to variations in raw materials. Furthermore, market growth may be hindered by consumer allergies to fish and seafood, as well as competition from other protein sources such as plant-based proteins.

Recent Developments

In May 2022, Pioneer Points Partners and Verdane collaborated with Scan Bio Marine Group to fulfil the requirement to build one of the largest and leading aquaculture waste management providers in Europe.
In February 2022, Ireland-based bio marine ingredients, BMI, raised USD 7.4 million based on a loan note. The Irish company supplies fish protein hydrolysate, calcium, and lipids to the human nutrition, pet food, and fertilizer sectors. It can produce a fraction of 35% to 90% protein as it is customizable according to the consumer's demand.