Fish Protein Hydrolysate Market Size, Share, Report by 2033

The global fish protein hydrolysate market size was estimated at USD 317.20 million in 2023, growing at a CAGR of 3.54% from 2024 to 2033.

Fish protein hydrolysate (FPH) is a rapidly growing market that involves the processing of fish waste and by-products to produce hydrolysates rich in bioactive peptides, amino acids, and other nutrients. These hydrolysates are widely used in the food and beverage industry, animal feed, pharmaceuticals, and cosmetics due to their functional properties and health benefits.

Fish Protein Hydrolysate Market Size 2024 to 2033

Key Points

Europe has accounted for 37% market share in 2023.
Based on form, the powder segment held the largest share of 68% in 2023.
Based on technology, the enzymatic hydrolysis segment dominated the market and accounted for 84% market share in 2023.
By the application, the animal feed industries segment has generated a 60% revenue share in 2023.
Based on source, the Atlantic salmon segment is observed to witness a significant growth rate during the forecast period.

Growth Factors:

The market is expected to grow due to increasing awareness of the health benefits of fish protein hydrolysate and its versatile applications in various industries. Additionally, the rising demand for protein-rich foods, nutritional supplements, and natural ingredients in skincare and pharmaceuticals contributes to the market’s expansion. Sustainable practices in fish processing and the need to utilize fish by-products efficiently also drive market growth.

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Region Insights:

The Asia-Pacific region is a major market for fish protein hydrolysate due to its large aquaculture industry and extensive seafood consumption. Countries such as China, India, and Vietnam have significant production and consumption of fish protein hydrolysate. Europe and North America are also important markets, driven by consumer preference for natural and organic products, as well as increased research and development in the health and nutrition sectors.

Fish Protein Hydrolysate Market Scope

Report Coverage	Details
Global Market Size in 2023	USD 317.20 Million
Global Market Size in 2024	USD 328.43 Million
Global Market Size by 2033	USD 449.20 Million
Growth Rate from 2024 to 2033	CAGR of 3.54%
Largest Market	Europe
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	By Form, By Technology, By Source, and By Application
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Fish Protein Hydrolysate Market Dynamics

Drivers: Key drivers of the market include the growing demand for protein supplements and functional foods, increased awareness of the health benefits of fish protein hydrolysate, and the need for sustainable fish processing methods. Additionally, the expanding aquaculture industry worldwide provides a steady supply of fish by-products for hydrolysate production.

Opportunities:

Opportunities in the market include the potential for developing innovative fish protein hydrolysate-based products with specific health and nutritional benefits. The cosmetics and personal care industry also presents a growing market for hydrolysates due to their antioxidant and anti-aging properties. Further, the use of fish protein hydrolysate in pet food and animal feed offers another avenue for market growth.

Challenges:

Challenges in the market include the potential for supply chain disruptions, particularly related to fish sourcing and processing. Regulatory hurdles and stringent quality standards can also pose challenges for market players. Additionally, the competition from alternative protein sources such as plant-based proteins may affect the growth trajectory of the fish protein hydrolysate market.

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.