Report : Asia Pacific Fish Protein Isolates Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Form (Powder and Liquid) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, Personal Care, and Animal Nutrition)
At 6.0% CAGR, the Asia Pacific Fish Protein Isolates Market is speculated to be worth US$ 403.89 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Asia Pacific fish protein isolates market was valued at US$ 284.14 million in 2022 and is expected to reach US$ 403.89 million by 2028, registering a CAGR of 6.0% from 2022 to 2028. Increasing number of fisheries and popularity of dietary supplements among millennials are the critical factors attributed to the Asia Pacific fish protein isolates market expansion.
Fish is a protein-rich product containing low cholesterol; therefore, the demand for fish and fish-related products has increased. The fishery industry is growing due to improved aquaculture production, lower prices, changing cultural preferences, and surging demand for fish and seafood. The increasing number of fisheries resulted in a large volume of fish waste, which is processed and used to manufacture fish protein isolates. It is prepared by extracting the oil from the fish, screening or settling out the bones, and drying the final product with higher protein content, i.e., 85-95%, and lower ash content than fish meal. Also, fish farming is one of the fastest-growing food production segments in the world, which generates employment and supports a country's economy. Thus, an increasing number of fisheries around the region is expected to provide lucrative growth opportunities to the Asia Pacific fish protein isolates market.
On the contrary, rising vegan population hurdles the growth of Asia Pacific fish protein isolates market.
Based on form, the Asia Pacific fish protein isolates market is bifurcated into powder and liquid. The powder segment held 94.2% share of the Asia Pacific fish protein isolates market in 2022, amassing US$ 267.54 million. It is projected to garner US$ 380.60 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on application, the Asia Pacific fish protein isolates market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and animal nutrition. The pharmaceuticals and nutraceuticals segment held 34.6% share of the Asia Pacific fish protein isolates market in 2022, amassing US$ 98.37 million. It is projected to garner US$ 134.88 million by 2028 to expand at 5.4% CAGR during 2022–2028.
Based on country, the Asia Pacific fish protein isolates market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia-Pacific. Our regional analysis states that the Rest of Asia-Pacific captured 40.1% share of the Asia Pacific fish protein isolates market in 2022. It was assessed at US$ 113.94 million in 2022 and is likely to hit US$ 154.33 million by 2028, exhibiting a CAGR of 5.2% during the forecast period.
Key players profiles in the Asia Pacific fish protein isolates market report are Advance International, Inc; Bio-marine Ingredients Ireland Ltd; Biomega Group AS; Copalis Industry SAS; Hofseth BioCare ASA; PeterLabs Holdings Sdn Bhd; and Sopropeche SA, among others.
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