Increasing Number of Fisheries is Expected to Provide Lucrative Growth Opportunities to the Middle East & Africa Fish Protein Isolates Market
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 Middle East & Africa fish protein isolates market.
Middle East & Africa Fish Protein Isolates Market Overview
The population in the Middle East & Africa is growing. Also, the consumption and demand for fish and fish-related products are rising in the region. According to the ITC Trade, the UAE imported frozen fish worth US$ 89.55 million in 2020. In the Middle East & Africa, the consumption of meat and meat-based products is significant. Owing to the booming tourism sector, rising food service industry, and growing awareness about the benefits of fish protein isolate and protein-based products for the treatment of different diseases related to heart and obesity in the region, is expected to create opportunities for fish protein producers. Therefore, the surging demand for high-protein diets and growing fitness regime are expected to propel the growth of the Middle East & Africa fish protein isolates market during the forecast period.
Middle East & Africa Fish Protein Isolates Market Segmentation
The Middle East & Africa fish protein isolates market is segmented into form, application, and country.
Based on form, the Middle East & Africa fish protein isolates market is bifurcated into powder and liquid. In 2022, the powder segment registered a larger share in the Middle East & Africa fish protein isolates market.
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. In 2022, the pharmaceuticals and nutraceuticals registered a largest share in the Middle East & Africa fish protein isolates market.
Based on country, the Middle East & Africa fish protein isolates market is segmented into Saudi Arabia, the UAE, South Africa, the Rest of Middle East and Africa. In 2022, the Rest of Middle East & Africa registered a largest share in the Middle East & Africa fish protein isolates market.
Advance International, Inc; Bio-marine Ingredients Ireland Ltd; Biomega Group AS; Hofseth BioCare ASA; and Sopropeche SA are the leading companies operating in the Middle East & Africa fish protein isolates market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 91.44 Million |
| Market Size by 2028 | US$ 123.22 Million |
| CAGR (2022 - 2028) | 5.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Form
|
|
Regions and Countries Covered
|
|
| Middle East and Africa | South Africa, Saudi Arabia, UAE, Rest of Middle East and Africa |
| Market leaders and key company profiles |
|
The Middle East & Africa Fish Protein Isolates Market is valued at US$ 91.44 Million in 2022, it is projected to reach US$ 123.22 Million by 2028.
As per our report Middle East & Africa Fish Protein Isolates Market, the market size is valued at US$ 91.44 Million in 2022, projecting it to reach US$ 123.22 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The Middle East & Africa Fish Protein Isolates Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Fish Protein Isolates Market report:
The Middle East & Africa Fish Protein Isolates Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Fish Protein Isolates Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Fish Protein Isolates Market value chain can benefit from the information contained in a comprehensive market report.
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