Report : Asia Pacific Fish Protein Hydrolysate Market for Animal Feed Application Forecast to 2030 - Regional Analysis - by Form (Dry and Liquid) and Application [Poultry (Layers, Broilers, and Others), Ruminant, Swine, Aquaculture (Salmon, Tuna, Shrimps, and Others), Pets (Dogs and Cats), and Others]
At 5.6% CAGR, the Asia Pacific Fish Protein Hydrolysate Market for Animal Feed Application is speculated to be worth US$ 1,27,398.89 million by 2030, says Business Market Insights
According to Business Market Insights research, the Asia Pacific fish protein hydrolysate market for animal feed application was valued at US$ 86,883.82 million in 2023 and is expected to reach US$ 1,27,398.89 million by 2030, registering a CAGR of 5.6% from 2023 to 2030. Growing fish waste revolutionized the FPH demand and nutritional benefits of fish protein hydrolysate in animal nutrition are the critical factors attributed to the Asia Pacific fish protein hydrolysate market for animal feed application expansion.
Fish has a high protein content and low cholesterol; therefore, the demand for fish and fish-related products has increased. As per the Food and Agriculture Organization (FAO), global capture fisheries production was 90.3 million tons in 2020. The fishery industry is growing due to improved aquaculture production, changing cultural preferences, and surging demand for fish and seafood. The increasing number of fisheries generates a large volume of waste almost every year, estimated at nearly 60% of the biomass. The waste is processed and used to manufacture fish protein hydrolysate. Fish farming is one of the world's fastest-growing food production segments, creating a massive opportunity for fish protein hydrolysate market growth. Furthermore, fish protein hydrolysate has been used in aquaculture feed to enhance fish growth and survival. It promotes the overall development and immunity of numerous culture species. The amino acid composition and the FPH peptides are responsible for the healthy growth of various fish species. In aquaculture, FPH demand is gaining massive momentum as it enhances the metabolic system of species that protect them from the risk of diseases and infections. Hence, aquafeed producers are increasingly adopting effective feeding practices and incorporating health-promoting compounds such as proteins, hydrolysates, and bioactive peptides, including fish protein hydrolysate. Due to these factors, the growing aquaculture industry is expected to create lucrative opportunities for the FPH market in the coming years.
On the contrary, logistic issues hampers the Asia Pacific fish protein hydrolysate market for animal feed application.
Based on type, the Asia Pacific fish protein hydrolysate market for animal feed application is segmented into dry and liquid. The dry segment held 62.4% share of Asia Pacific fish protein hydrolysate market for animal feed application in 2023, amassing US$ 54,220.04 million. It is projected to garner US$ 79,947.44 million by 2030 to expand at 5.7% CAGR during 2023–2030.
Based on application, the Asia Pacific fish protein hydrolysate market for animal feed application is segmented into poultry, ruminant, swine, aquaculture, pets, and others. Poultry segment is divided into layers, broilers, and others. Aquaculture is segmented into salmon, tuna, shrimps, and others. Pets segment bifurcated into cats and dogs. The poultry segment held 49.4% share of Asia Pacific fish protein hydrolysate market for animal feed application in 2023, amassing US$ 42,896.93 million. It is projected to garner US$ 63,508.03 million by 2030 to expand at 5.8% CAGR during 2023–2030.
Based on country, the Asia Pacific fish protein hydrolysate market for animal feed application is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 43.2% share of Asia Pacific fish protein hydrolysate market for animal feed application in 2023. It was assessed at US$ 37,552.84 million in 2023 and is likely to hit US$ 55,887.33 million by 2030, exhibiting a CAGR of 5.6% during 2023-2030.
Key players operating in the Asia Pacific fish protein hydrolysate market for animal feed application are 21 Pine Freezers Road Pty Ltd, Bio-marine Ingredients Ireland Ltd, Euro Feed Services Holland BV, Janatha Fish Meal & Oil Products, Kemin Industries Inc, NAN Group JSC, and Symrise AG, among others.
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