Fish Protein Concentrate is derived by utilizing enzyme and heat to precipitate fish proteins. It is a rich source of essential amino acids and possesses high digestibility. It provides nutritional value and enhances palatability in fish feed. The rising demand for cost-effective aquaculture and pet feeds is propelling the Fish Protein Concentrate market.
The Global Fish Protein Concentrate Market is estimated to be valued at US$ 143.2 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
Key Takeaways:
Key players: Key players operating in the Fish Protein Concentrate market are 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.
Growing demand: Rising aquaculture and pet feed production is fueling the demand for high-quality and cost-effective fish protein sources. Fish protein concentrate poses fewer restrictions than fishmeal and provides essential nutrients required for optimal growth.
Global expansion: Key players are expanding their global footprint by establishing production facilities across Southeast Asia, South America, and Europe to ensure consistent supply and better serve the growing international demand. Collaborations with local farmers and suppliers aid in strengthening supply chains.
Market Drivers:
The increasing Fish Protein Concentrate Market Demand for aquaculture and pet feeds is one of the key drivers propelling. Fish protein concentrate provides better nutritional value and enhances palatability at a lower cost compared to fishmeal. It contains higher protein content and fewer restrictions than fishmeal, driving its increasing adoption in the feed industry. Additionally, growing consumer awareness about protein-rich diets and surging pet ownership are augmenting the demand for fish protein concentrate.
Impact of Geopolitical Situation on Fish Protein Concentrate Market Growth
The fish protein concentrate market is significantly impacted by the current geopolitical uncertainties across various regions. The ongoing Russia-Ukraine conflict has disrupted key supply routes and ports, affecting the international trade of fish and seafood products including fish protein concentrates. Furthermore, rising political tensions between major economies has increased the risk of import/export restrictions and tariffs on fish and marine ingredients. This volatility in international trade policies creates challenges for market players in terms of long-term planning and supply chain management.
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