Report : Middle East & Africa 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 5.1% CAGR, the Middle East & Africa Fish Protein Isolates Market is speculated to be worth US$ 123.22 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Middle East & Africa fish protein isolates market was valued at US$ 91.44 million in 2022 and is expected to reach US$ 123.22 million by 2028, registering an annual growth rate of 5.1% from 2022 to 2028. Popularity of dietary supplements among millennials and increasing number of fisheries are the critical factors attributed to the c expansion.
The increased awareness among millennials regarding personal health and fitness and physical appearances, especially after the onset of the COVID-19 pandemic, boosted the demand for dietary supplements, such as health-boosting vitamins, minerals, and proteins. Due to the hectic work schedules and changing lifestyles of millennials, their dependence on dietary supplements to fulfill their nutrient requirements has increased. Owing to the growing number of fitness centers, health clubs, and gymnasiums, the demand for dietary supplements is increasing among health-conscious millennials. Fish protein isolates are primarily used in supplements as they contain low-fat, high-quality proteins; omega-3 fatty acids; and vitamins such as D and B2. It is also rich in calcium and phosphorus and is a good source of minerals such as iron, zinc, iodine, magnesium, and potassium. Therefore, the surge in demand for dietary supplements, such as fish protein isolates, among millennials is expected to propel the Middle East & Africa fish protein isolates market. Furthermore, millennials are better educated and more health-conscious than previous generations. Additionally, social media intensifies their desire to appear healthy, vibrant, and have fun. This factor is further surging the demand for dietary supplements among millennials, which is positively affecting the Middle East & Africa fish protein isolates market. Moreover, fish protein dietary supplements are cheaper and more affordable for millennials. Also, increasing acceptance of sports as a career is expected to increase the demand for sports nutrition, which benefits the market for dietary supplements. All these factors are contributing to the Middle East & Africa fish protein isolates market growth of fish protein isolates.
On the contrary, rising vegan population hurdles the growth of Middle East & Africa fish protein isolates market.
Based on form, the Middle East & Africa fish protein isolates market is bifurcated into powder and liquid. The powder segment held 93.3% share of the Middle East & Africa fish protein isolates market in 2022, amassing US$ 85.36 million. It is projected to garner US$ 115.20 million by 2028 to expand at 5.1% CAGR during 2022–2028.
Based on application, the Middle East & Africa fish protein isolates market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and animal nutrition. The pharmaceuticals and nutraceuticals segment held 36.1% share of the Middle East & Africa fish protein isolates market in 2022, amassing US$ 33.01 million. It is projected to garner US$ 43.14 million by 2028 to expand at 4.6% CAGR during 2022–2028.
Based on country, the Middle East & Africa fish protein isolates market has been categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 49.1% share of the Middle East & Africa fish protein isolates market in 2022. It was assessed at US$ 44.88 million in 2022 and is likely to hit US$ 58.33 million by 2028, exhibiting a CAGR of 4.5% during the forecast period.
Key players profiles in the Middle East & Africa fish protein isolates market report are Advance International, Inc; Bio-marine Ingredients Ireland Ltd; Biomega Group AS; Hofseth BioCare ASA; and Sopropeche SA, among others.
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