At 4.0% CAGR, the South & Central America Fish Protein Hydrolysate Market for Animal Feed Application is projected to be worth US$ 34.01 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America fish protein hydrolysate market for animal feed application was valued at US$ 25.76 million in 2023 and is expected to reach US$ 34.01 million by 2030, registering a CAGR of 4.0% from 2023 to 2030. Growing fish waste revolutionized the FPH demand, rising pet humanization, and nutritional benefits of fish protein hydrolysate in animal nutrition are the critical factors attributed to the South & Central America fish protein hydrolysate market for animal feed application expansion.

Pet humanization is increasing across the world due to the emerging pet-loving culture and media coverage of celebrities and their furry friends. Population of dogs, cats, birds, and other pet animals is on the rise. Factors responsible for the growing pet adoption are an aging population and lonely persons who adopt pets to fill the void. Moreover, studies conducted by researchers reveal that pets have a positive impact on children as their companionship helps prevent loneliness and depression; develop motor skills by feeding and grooming dogs; encourage outdoor activities such as regular walks with dogs; promote emotional development by encouraging responsibility involved in caring for pets. Pet parents are concerned about the diet and health of their pets and are taking measures to keep their pets healthy. They are adopting healthy food enriched with various nutrients such as proteins, vitamins, and fish protein hydrolysate. Therefore, manufacturers are developing pet food with fish protein hydrolysate and other nutrients to cater to the increasing demand of pet owners. Thus, rising pet humanization is expected to become a major trend in the fish protein hydrolysate market for animal feed application during the forecast period.

On the contrary, challenges related to supply chain hampers the South & Central America fish protein hydrolysate market for animal feed application.

Based on form, the South & Central America fish protein hydrolysate market for animal feed application is bifurcated into dry and liquid. The dry segment held 65.3% share of South & Central America fish protein hydrolysate market for animal feed in 2023, amassing US$ 16.82 million. It is projected to garner US$ 22.39 million by 2030 to expand at 4.2% CAGR during 2023-2030.

Based on application, the South & Central America 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 52.3% share of South & Central America fish protein hydrolysate market for animal feed in 2023, amassing US$ 13.49 million. It is projected to garner US$ 18.20 million by 2030 to expand at 4.4% CAGR during 2023-2030.

Based on country, the South & Central America fish protein hydrolysate market for animal feed application is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 45.6% share of South & Central America fish protein hydrolysate market for animal feed in 2023. It was assessed at US$ 11.75 million in 2023 and is likely to hit US$ 15.73 million by 2030, exhibiting a CAGR of 4.3% during 2023-2030.

Key players operating in the South & Central America fish protein hydrolysate market for animal feed application are Janatha Fish Meal & Oil Products, Kemin Industries Inc, Novozymes AS, Sopropeche SA, and Symrise AG, among others.

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