FISH PROTEIN CONCENTRATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global fish protein concentrate market is estimated to be valued at USD 143.2 Mn in 2024 and is expected to reach USD 227.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.
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High nutritional value of fish protein concentrate
Fish protein concentrate is a rich source of high-quality protein that provides various health benefits. It contains all the essential amino acids required by the human body and is easily digestible. A single serving of fish protein concentrate can provide 15-20 grams of complete protein, which aids muscle growth and repair. In addition, it is low in fat and cholesterol compared to many other animal protein sources. As people become more health-conscious, they want protein options that not only satisfy hunger but also promote overall wellness.
Many nutrition experts praise fish protein concentrate for its balanced amino acid profile and high concentration of omega-3 fatty acids. While fish is known to contain beneficial fatty acids like EPA and DHA, fish protein concentrate allows people to maximize their omega-3 intake without consuming the entire fish filet. On top of reducing cardiovascular disease risk, omega-3s also play an important role in brain health and development. With growing awareness about the link between diet and mental wellness, consumers are increasingly looking to supplement their diets with omega-3 rich foods.
Fish protein concentrate is a versatile ingredient that can be easily incorporated into various foods and beverages. It is available in powdered form that can be added to baked goods, cereals, dressings, and other products for fortification. Many sport and health drinks now use fish protein concentrate for its functional benefits. Even for people who do not regularly eat seafood, fish protein concentrate provides a convenient way to obtain key nutrients supplied by fish. As life becomes busier, demand is growing for nutritious yet convenient ingredients that can make everyday foods more nourishing. Fish protein concentrate fulfills this need well while delivering a full spectrum of nutritional value.
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Increasing demand for low-fat and high-protein food products
In recent years, health-conscious consumers have been gravitating towards products lower in fat, sugar, and calories while higher in protein. This shift is driven by changing lifestyles as well as improved understanding of macronutrients and their impact on body composition. More people now realize that consuming adequate protein can aid weight management by reducing appetite and preventing muscle loss during dieting. Protein is also the most filling macronutrient that keeps people feeling satisfied for longer durations.
Food companies have responded to this growing preference for low-fat, high-protein options by reformulating many products and introducing new varieties. Fish protein concentrate presents itself as an excellent protein source that can lower fat content without compromising on taste and texture. It allows manufacturers to develop nutritious snacks, meal replacements, and indulgences with a favorable macronutrient balance. Body-conscious consumers no longer want to sacrifice enjoyment for health and are paying premium prices for guilt-free alternatives in their favorite foods.
Specialty wellness stores and health-focused supermarkets now occupy significant retail space as preventive healthcare gains mainstream interest. Seeking nutritious yet convenient choices, shoppers frequent these outlets for ready-to-eat meals, supplements, and ingredients that align with popular diets. Fish protein concentrate meets the criteria for “better-for-you” products that cater to this expansion of the healthy living market segment. As obesity rates climb globally, the demand for protein-rich ingredients like fish protein concentrate will continue rising to power the next generation of reduced-calorie, balanced nutrition offerings.
Key Takeaways from Analyst:
The global fish protein concentrate market is primed for steady growth owing to the rising demand for alternative proteins across various application sectors. The increasing health consciousness among consumers along with the desire to incorporate proteins from sustainable sources is positively impacting the market growth.
The Asia Pacific region, especially emerging economies like India and China, present lucrative opportunities due to a growing middle class population and shift toward healthy diets. One of the key drivers is the rising vegan and vegetarian population who prefer plant-based or marine-based proteins over meat. However, stringent fishery rules and regulations to curb overfishing in certain regions may hamper the raw material supply to some extent.
Product diversification with various flavors and textures can help manufacturers address a wider consumer base. The food processing industry remains the largest application area backed by the flourishing ready-to-eat segment. Advancements in fractionation and drying technologies are helping players offer innovative formats that are compatible with different food matrices. Sustainability being a growing concern, companies emphasizing on responsible sourcing practices can derive long-term benefits. Overall, the fish protein concentrate industry seems well-positioned to endure any potential challenges and sustain a positive momentum over the next decade, provided new avenues are continuously explored.
Market Challenges: High production cost of fish protein concentrate
One of the major challenges faced by the global fish protein concentrate market is the high production cost involved. Fish protein concentrate is produced through a heat treatment process that involves cooking, pressing, drying and processing of fish. This complex production process is energy intensive and requires sophisticated equipment and facilities. It also involves high labor costs for sorting, cleaning and processing of fish waste material. The low yield of only 20-30% fish protein concentrate from raw fish materials further increases the per unit production cost. Strict environmental regulations related to waste disposal from fish processing plants additionally burden the production costs. These high costs make fish protein concentrate less competitive as compared to other animal- and plant-based alternative proteins. Market players need to focus on automation, use of renewable energy, and waste optimization to lower the unit production costs to drive higher adoption of fish protein concentrates.
Market Opportunities: Growth of vegan and vegetarian population
The global fish protein concentrate market is expected to witness new growth opportunities due to the rising vegan and vegetarian population worldwide. According to surveys, around 8-10% of the global population follows a vegan or vegetarian diet due to health, ethical, or environmental reasons. This population segment is continuously on the lookout for sustainable and nutritious non-animal protein sources. Fish protein concentrate is a natural and complete plant-based protein that is attracting these health-conscious consumers. It is a suitable alternative to meat, poultry, and dairy proteins. With improved tastes and textures of fish protein concentrates, its use in vegan meat analogs, dairy substitutes, and nutrition bars is increasing. This growing vegan and vegetarian demographic is expected to drive the demand for clean label and sustainable fish protein concentrates in the coming years. Market players need to focus on product innovation and brand positioning to tap into this lucrative consumer segment.
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Insights by source: Tuna Leads the Sea: Consumer Preference and Health Benefits
In terms of source, tuna is expected to contribute 34.7% share of the market in 2024 owing to strong consumer preference and numerous health benefits. Tuna is a popular fish worldwide and features heavily in cuisines of many coastal regions. Its mild and versatile flavor profiles well in diverse recipes from salads and pasta dishes to snacks and burgers. The rising health consciousness among consumers is also driving the demand for tuna. It is low in saturated fat and calories but high in protein, vitamins, and minerals. The omega-3 fatty acids present in tuna are highly beneficial for heart and brain health. With increasing focus on fitness and wellness, tuna is perceived as a healthy and protein-rich addition to daily diets. Its year-round availability further enhances its appeal as a sustainable and affordable source of nutrition. These factors have made tuna a top choice for both home cooking and commercial food processing.
Insights by form: Powder Reigns: Ease of Use and Storage
In terms of form, powder is expected to contribute 66.5% share of the market in 2024, owing to distinct advantages over the liquid form. Fish protein concentrate in powder format offers improved ease of handling, incorporation, and storage compared to liquid. It can be easily mixed into various food products during processing without altering texture or consistency. The powder blends seamlessly into ingredients like baked goods, sauces, dressings, and formulated nutritional products. Being non-liquid in nature, it poses no risk of spillage or leakage during transportation and warehouse keeping. Less space is required for the storage and shipping of powder. Additionally, the longer shelf life and stability of powdered fish protein aids its utilization in global supply chains. These multiple functional and economic benefits have positioned powder as the preferred form for industrial uptake and commercialization.
Insights by application: Food and Beverages Take the Bite
In terms of application, food & beverages is expected to contribute 37.6% share of the market in 2024, due to vast opportunities for product development and enrichment. Fish protein concentrate lends itself well to fortifying an array of food items from dairy to meat products with protein, vitamins, and minerals. It can enhance the nutritional value of staples, snacks, and culinary preparations. Several commercial beverages already exploit fish protein for wellness promotion. Rising demand for healthy, sustainably-sourced ingredients in packaged food and drinks sectors is propelling the use of fish protein concentrate. Population growth and changing lifestyles are also expanding the markets for enriched, fortified convenience products around the world - favoring fish protein's role in the same. Hence, food and beverages emerge as the dominant and most innovative segment catalyzing fish protein concentrate consumption globally.
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North America has established itself as the dominant region in the global fish protein concentrate market. The region is expected to account for 38.7% of the market share in 2024. The region enjoys strong industry presence from key players who have been operating in the market for decades. With a well-developed protein and nutritional ingredients sector, North America serves as the innovation hub with companies continually investing in new product development.
Furthermore, North America has a robust seafood industry with the U.S. and Canada among the leading seafood producers and consumers globally. Abundant availability of raw materials within the region provides fish protein concentrate manufacturers with reliable supply chains and cost advantages over competitors. Local production also ensures just-in-time deliveries and flexibility in production schedules.
However, Asia Pacific has emerged as the fastest growing regional market in recent years. Countries like China, Indonesia, Vietnam, and India have seen rising disposable incomes and growing health consciousness among consumers. This has increased the demand for high-quality protein sources across the nutrition, wellness, and personal care segments. The large populations in Asia Pacific provide immense market opportunities for fish protein concentrate.
International players see Asia Pacific as an attractive investment destination and are expanding their operations in the region. Many source raw materials from Southeast Asia where fish landings are high. Regional trade agreements have also opened up market access while tax incentives offered by governments are attracting foreign direct investments. With food manufacturing hub status of countries like Thailand, the production and distribution network is being strengthened in Asia Pacific.
With continuous economic growth projected, Asia Pacific's demand for fish protein concentrate is expected to accelerate further. The prices in the region are also comparatively lower than North America, making it an important sourcing base. While North America continues to reign, fish protein concentrate manufacturers are focusing considerable attention on Asia Pacific to ensure future growth.
Fish Protein Concentrate Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 143.2 Mn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 6.8% | 2031 Value Projection: | US$ 227.1 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Scanbio Marine Group, Colpex International, BioOregon Protein, Omega Protein, Apelsa Guadalajara, Aroma NZ, Sopropeche, Peterlabs Holdings, Hofseth BioCare, Nutrifish, Olvea Fish Oils, Protein Feeds, Mukka Sea Foods, Qingdao Future Group, Seagarden, Shandong Fukui Foodstuff, Shandong Yuwang Ecological Food Industry, Taian Health Chemical, Zhejiang Zengus, and Zhejiang NHU |
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| Growth Drivers: |
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| Restraints & Challenges: |
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*Definition: The global fish protein concentrate market refers to the business of manufacturing and selling highly refined fish protein powders that are extracted from fish processing waste streams. Key players in this market produce fish protein concentrate through various processing techniques like isoelectric solubilization/precipitation or acid/alkali extraction from fish waste sources like bones, heads, skin, and tails. The concentrate products contain 70-85% protein and are sold as feed ingredients to aquaculture, pet food manufacturers, and nutritional supplement formulators.
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About Author
Sakshi Suryawanshi is a Research Consultant with 6 years of extensive experience in market research and consulting. She is proficient in market estimation, competitive analysis, and patent analysis. Sakshi excels in identifying market trends and evaluating competitive landscapes to provide actionable insights that drive strategic decision-making. Her expertise helps businesses navigate complex market dynamics and achieve their objectives effectively.
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