Fish Protein Concentrate Market

Key Factors Shaping the Fish Protein Concentrate Market

Increasing Demand for Fish Protein Concentrate from Cereal Bar Manufacturers

Over the years, food consumption trends have changed drastically. People are more concerned about their health and fitness, due to which, the demand for healthy food products has also increased. People are looking for handy multi-component products, which are readily available in the market and also help to compensate for the fast moving lifestyle of the consumers.

Hence, cereal bar is considered as the perfect product, which is affordable and full of nutrients such as proteins, fatty acids, minerals, and different high-quality fibers, among others. With the growing demand for nutrient-rich cereal bars, the need for the development of cereal bars with healthier ingredients has also increased. Researchers have been seeking new food ingredients in order to improve the functionality and nutritional value of the product.

Hence, manufacturers of cereal bar are looking towards the fish processing industry, which generates ample amount fish protein concentrate for human consumption from fish residue. This fish protein concentrate is an excellent source of protein and can be easily blended with a cereal bar in order to enhance its nutrient content.

This surge in demand for fish protein concentrate from cereal bar manufacturers has bolstered the growth of the fish protein concentrate market and hence, it is expected to grow significantly over the forecast period.

Increasing Demand for Protein and Other Vital Nutrients will Propel the Market Growth

Robust growth of the food and dietary supplements industry is expected to lead to higher demand for fish protein concentrate over the forecast period, creating a lucrative opportunity for manufacturers of fish protein concentrate across the globe. The nutrient profile of fish protein concentrate is very compatible with the human digestion process.

In the coming years, with increasing demand for protein and other vital nutrients from consumers, fish protein concentrate could be used as a preferred source of protein. Fish protein concentrate can be used extensively during a specific growth stage of infants, for people with diseased conditions, or for broad stock purposes.

Moreover, fish protein concentrate is an important product for economically underdeveloped countries, which require an inexpensive source of animal protein for human consumption in order to tackle malnutrition. Fish protein concentrate produced from oily fish is also a good source of omega-3 fatty acids and other essential micronutrients.

Fish protein concentrate already has an established market in North America, but manufacturers operating in the fish protein concentrate market could focus on enhancing their footprint in other regions as well.

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Adoption of Advanced Processing Technologies by Manufacturers

Keeping the quality of fish protein concentrate up to the mark is the key challenge faced by the manufacturers of fish protein concentrate. In order to prevent fish protein concentrate from becoming rancid, and to improve the shelf life of fish protein concentrate, manufacturers have included spray drying technique in the final stage of processing. But with time, manufacturers are also looking for updated technologies for product manufacturing.

Hence, microencapsulation technology is now used to incorporate fish protein concentrate into food and stabilize fish protein concentrate-enriched food products. This technology not only improves the texture and stability of fish protein concentrate but also enhances the shelf life of the product.

Microencapsulated fish protein concentrate with enhanced stability finds applications majorly in infant formula, dietary supplements, and food and beverages. Hence, major manufactures are inclining towards the adoption of advanced processing technologies.

Preferential Inclination towards Non-Modified Functional Ingredients

The increasing health-conscious population has significantly increased the demand for non- GMO food ingredients. In the global food and beverages market, the trend indicated the need for manufacturers who offer non-GMO certified products to their customers. Parents, these days, are very concerned about the ingredients used in the baby products available in the market, which is creating the need for non-GMO food ingredients, resulting in the preferential inclination towards non-modified functional ingredients.

Fish Protein Concentrate Market Structure Analysis

• The global fish protein concentrate market represents a fairly consolidated competition landscape, where majority of the key players maintain their strategic focus on the development of solid distribution partnerships and joint ventures, targeting a firmer global footprint.
• Leading manufacturers of fish protein concentrate are currently prioritizing R&D and new product launches to resonate with the booming consumption of sports nutrition and dietary supplements.
• Portfolio extension is also identified to remain one of the key developmental strategies adopted by manufacturers of fish protein concentrate.
• Deeper understanding of the market trends and preferential shifts of end-use segments across various regions are likely to create a bottleneck for prominent players, looking forward to untapped opportunities in the fish protein concentrate market.

Fish Protein Concentrate: This Nutrition Auxiliary to be the Next Big Thing

Transition toward functional ingredients is in its prime, thanks to the ever-evolving consumer preferences for products offering tangible benefits. Use of fish protein concentrate has been imparting new dimensions of value-addition across umpteen application verticals, in view of the fact that it improves nutritional quality of the target product without necessarily affecting other characteristics.

As ‘utility marketing’ emerges as a key tactic among enterprises worldwide, businesses have started looking for new additions that would revitalize the degree of marketability of their products. This is where the use of fish protein concentrate comes into play, thereby unravelling new opportunities for the brands operating in the turbulent market space.

Fish Protein Concentrate Market: Boundless Opportunities on the Horizon

Over the last decade, product consumption trends have reflected a topsy-turvy journey in almost every known market. While there was a time when consumers used to favor the apparent characteristics of a specific product, the modern times represent the monopoly of ‘value-over-anything’. Food and beverage producers continue to count on fish protein concentrate for fortification, owing to the fact that consumer inclination toward preventive nutrition is treading on an ascending path.

Addition of fish protein concentrate in cereal bars is the newest trend spreading its roots in the sports food and nutritional supplements landscape, as consumers are resorting to on-the-go snacking options as a replacement to full-fledged meal formats. 

Use as a Flavor Enhancer in Pastas & Noodles: Bringing Wholesomeness to the Table

Use of fish protein concentrate in pastas and noodles is gaining traction as a trend, as food ventures are showing considerable interest to experiment with new ideas. As the demand for food items like pasta and noodles is taking off significantly, food producers are offering tastemakers and flavor enhancer that are fish protein concentrate-based to weave distinctive taste experiences.

As the nutritional value of fish protein concentrate is exceptionally high, food producers focusing on convergence of taste and functionality attributes have started relying on fish protein concentrate as an effective ingredient.

The Broader Perspective

Cosmetic and personal care brands are catching up with the trend of organic ingredients by using fish processing waste as a potential source of protein over the conventional sources. As fish skin waste is a great source of collagen and gelatin, brands developing cosmetic and personal care products are investing in fish protein concentrates to nourish their product utility.

Fish protein concentrate are highly cost-effective as compared to plant-based protein concentrates, which is another significant factor upholding the use of fish protein concentrate in cosmetic and personal care products.

How Growth will Unfold?

Brands in the fish protein concentrate market are entering into collaborations with renowned research centers. These collaborations are aimed at fine-tuning business strategies via up-to-date academic and scientific resources. Production of fish protein concentrate requires no dedicated facilities or special units, which is one of the key reasons placing manufacturers in this market in an advantageous position.

Participation in trade fairs and conferences for persuasive marketing continues to be a centerpiece of the overall marketing strategies, for the fact that these platforms offer immense exposure to larger audience segments.

Key Questions Answered by the Report

• What is the size of the fish protein concentrate market?

  The fish protein concentrate market was valued at US$ 110 million in 2019, with a growth rate of a promising 7% CAGR between 2019 and 2029.

• Which are the largest markets for fish protein concentrate?

  North America has been found to hold major market share for fish protein concentrate. Growing consumption of nutritional supplements and sports nutrition applications drives the market.

• Which are the top companies in fish protein concentrate market?

  Bio Marine Ingredients Ireland Ltd., Colpex International, Inc., Bio Phoenix Formulations, BioOregon Protein, Inc., Bevenovo Co., Ltd., and Scanbio Marine Group AS, are among the leading market players in the global fish protein concentrate market.

• What are the application of fish protein concentrate?

  Fish protein concentrate finds widespread use in a number of sectors, including biomedicine, food processing, animal feed, and cosmetics & personal care. Fish skin collagen has become quite popular in cosmetic products.

• In what types are fish protein concentrate available?

  Manufacturers produce fish protein concentrate in two types – liquid and powder. Powdered optiosn account for higher demand, owing to application in food supplements.

• What is the outlook of the Asia fish protein concentrate market?

  The growing popularity of fitness trends and health consciousness among Asian populations such as China and India have created a lucrative environment for fish protein concentrate producers.

• How is the fish protein concentrate market competition structured and evolved?

  The fish protein concentrate is largely consolidated with major market players focusing their efforts towards joint ventures and distribution partnerships for geographical expansion, in addition to research & development and product launch strategies.

Enquiry before Buying

• Is this research conducted by Future Market Insights?

  Yes, the fish protein concentrate market research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

• What research methodology is followed by FMI?

  FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

• Who are the respondents for primary research?

  FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

• What are the sources of secondary research?

  FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

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Key Segment

Type

• Type A
• Type B
• Type B

Form

• Liquid
• Powder

End Use

• Food and Beverages
• Cosmetics & Personal Care
• Sports Nutrition & Dietary Supplement
• Pharmaceuticals
• Others

Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa
• China
• India
• Mexico