Fish Protein Concentrate Market Size, Industry Trends, Forecast 2032

Fish Protein Concentrate Market: Industry Perspective

The global fish protein concentrate market size was worth around USD 134.17 million in 2023 and is predicted to grow to around USD 242.55 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.8% between 2024 and 2032. The report analyzes the global fish protein concentrate market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fish protein concentrate industry.

Fish Protein Concentrate Market Overview

The study covers forecasts and breakdowns for the fish protein concentrate market on a global and regional level. The research report presents a complete valuation of the market, emerging trends, opportunities, competition, and industry-validated market statistics. The report provides historical data from 2018 to 2022 along with an estimation from 2024 to 2032 based on revenue (USD Million) and volume (Million Units).

The global fish protein concentrate market has abundant opportunities on the horizon. The global fish protein concentrate market is expected to register a high CAGR within the forecast period. As there is an increasing demand for on-the-go food products such as pasta & noodles, fish protein concentrates are in high demand owing to their use as a flavor enhancer. Moreover, fish protein concentrates are also used in sports supplements owing to their exceptionally high nutritive value.

Fish Protein Concentrate Market: Segmentation

Based on the type, the global fish protein concentrate market has been classified into Type A, Type B, and Type C. The largest market share was contributed by the Type A segment in 2023 and is anticipated to grow at the highest CAGR as Type A fish protein concentrate (FPC) is an odorless and tasteless powder having a maximum protein content of up to 80%. Growing demand for fish protein concentrates among fitness enthusiasts to fulfill protein requirements of the body is accelerating segment growth. The Type B fish protein concentrate (FPC) has a fishy flavor and can be used as a flavoring agent in soups or stews. Surging demand for ready-to-eat food products requiring flavor enhancers is expected to boost the segment growth.

The global fish protein concentrate market is categorized into liquid and powder form. Powder form has accounted for the largest market share in the global fish protein concentrate market and is expected to have significant growth over the forecast period. The growing popularity of dietary supplements in powdered form among fitness enthusiasts is stimulating the segment growth.

Based on end-use, the global fish protein concentrate market has been fragmented into food processing, cosmetics & personal care, animal feed, and biomedical applications. The cosmetics & personal care segment in the global fish protein concentrate market is considered for the largest market share. As the fish skin left-over is a good source of gelatin & collagen, manufacturers producing cosmetics and personal care products are investing in fish protein concentrates to promote their product value. Rising trends of organic ingredients by using fish processing waste as a potential source of protein over conventional sources are fuelling the segment's growth.

Fish Protein Concentrate Market: Report Scope

Fish Protein Concentrate Market: Regional Analysis

North America region accounted for the sizeable growth in the global fish protein concentrate market and is likely to upswing the market in the forecast period. Growing fitness trends in the region and health consciousness among the people have shaped lucrative opportunities for the global fish concentrate market in the region. Additionally, increasing the consumption of sports nutrition and dietary supplements has generated significant demand for fish protein concentrate. Asia-Pacific region is gaining momentum in the global fish protein concentrate market and is expected to register a high CAGR. Heavy consumption of seafood, especially fish foods in various forms for the protein requirement is catering to the demand for fish food concentrate market in the region.

Fish Protein Concentrate Market: Key Players

The fish protein concentrate market is vastly associated with major players including:

• Colpex International Inc.
• BioOregon Protein Inc.
• Scanbio Marine Group AS
• Ingredients Inc.
• Advance International Inc.
• Apelsa Guadalajara
• S.A. de C.v.
• Aroma NZ
• Bevenovo Co. Ltd.
• Bio Phoenix Formulations
• Bio Marine Ingredients Ireland Ltd.

The major strategies implemented by these leading companies in the market are partnerships, mergers & acquisitions and recent developments. These companies are focusing much on investment in innovations, expansions, and collaborations, to increase their market share.

This report segments the global fish protein concentrate market as follows:

Global Fish Protein Concentrate Market: Type Segment Analysis

• Type A
• Type B
• Type C

Global Fish Protein Concentrate Market: Form Segment Analysis

• Liquid
• Powder

Global Fish Protein Concentrate Market: End-Use Segment Analysis

• Food Processing
• Cosmetics & Personal Care
• Animal Feed
• Biomedical Applications

Global Fish Protein Concentrate Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa