Pune, India, July 14, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Fish Protein Isolates Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Form, Application, and Geography,” the fish protein isolates market is expected to grow from $1.18 billion in 2022 to $1.53 billion by 2028; it is estimated to grow at a CAGR of 4.4% from 2022 to 2028.
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North America held the largest share of the fish protein isolates market in 2021. The growth in the region is attributed to rising demand for protein rich food and increasing awareness regarding the health benefits of fish protein isolates. In addition, growing application in various end use industries such as pharmaceuticals & nutraceuticals, food & beverages, personal care, and animal nutrition has further contributed to the growth of the market. The food and beverage manufacturers in the region are focused on developing products fortified with fish protein and enhancing the palatability of ready-to-eat fish products. The rising health concerns, such as obesity, and increasing awareness of dietary supplements across the region are expected to fuel the demand for fish protein isolates during the forecast period.
Surge in Demand for Protein-rich Food Products to Drive Fish Protein Isolates Market Growth during Forecast Period:
The demand for protein-rich food products is increasing in the global food & beverages industry, owing to the surge in the number of health-conscious consumers, rising disposable income, and growing consumer awareness. The consumption of fish protein isolates offers various health benefits, including a healthy heart and brain. Protein-rich food products reduce appetite and hunger, increase muscle mass and strength, reduce cravings, boost metabolism, and help maintain weight loss. Further, the antioxidant and bioactive properties of fish protein isolate aid in relieving several gastrointestinal issues, such as irritable bowel syndrome. Also, the fish protein isolate is easily soluble in food products and is highly suitable for human consumption. Moreover, rising disposable income, increasing population, and surging literacy rates, coupled with increasing awareness among people, are also indirectly contributing to the market growth.
Global Fish Protein Isolates Market: Segmental Overview
Based on form, the fish protein isolates market is bifurcated into powder and liquid. The powder segment held a larger market share in 2021, and is expected to register a higher CAGR during the forecast period. The powder segment dominates the fish protein isolate market owing to various benefits offered by fish protein isolates in powder form such as practical application, stability during storage, and no special storage conditions.
Based on application, the fish protein isolates market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and animal nutrition. The food and beverages segment is anticipated to register the highest CAGR during the forecast period. Fish protein isolates possess functional properties such as water-holding capacity, gelation, foam stability, and emulsion capacity. It is used in applications such as emulsification, gelling agents, and nutritional supplements.
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Impact of COVID-19 Pandemic on Global Fish Protein Isolates Market:
The imposition of lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic hindered economies and industries in various countries of North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA). These shutdowns disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the bans imposed by various governments of countries in Europe, Asia Pacific, and North America on international travel forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the food & beverages, personal care, and animal nutrition industries in 2020 and early 2021, which restrained the growth of various markets related to this industry, including the fish protein isolates market.
Global Fish Protein Isolates Market: Competitive Landscape and Key Developments
Advance International Inc, Bio-marine Ingredients Ireland Ltd, PeterLabs Holdings Sdn Bhd, Hofseth BioCare ASA, Sopropeche SA, Copalis Industry SAS, and Biomega Group AS are a few of the key players operating in the fish protein isolates market. These companies provide a wide range of product portfolios for the market. These companies have a widespread global presence, which provides a lucrative opportunity for the market to serve a large number of customers and increase the market size.
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