There is a rapid growth in the production of fisheries and aquaculture industry driven by the development of fishing technologies. With rising production of fisheries across the globe, fish waste is produced in a substantial amount. According to The National Institute of Biotechnology Information (NCBI), about two-thirds of the total fish production is discarded as waste. The large amount of fish waste creates enormous economic and environmental concerns. Thus, the recycling and disposal of these wastes have become an important, compelling issue. Fish waste can be converted into value-added products such as FPH by adding various proteolytic enzymes. The skin, heads, bones, viscera, and liver of fish waste is a good source of amino acids, antioxidants, proteins, and peptides. The waste has also been found to possess desirable bioactive and functional peptides. Thus, companies are highly emphasizing on using fish waste as protein for various industries, animal feed being one of the significant industries. Thus, increasing fish waste by aquaculture and fisheries boosts FPH production which is driving the demand for the product in the animal feed industry.
North America Fish Protein Hydrolysate Market for Animal Feed Application Overview
The North America fish protein hydrolysate market for animal feed application is growing significantly due to the rising adoption of fish protein in the animal feed industry. An increasing number of individuals opting for protein-rich products has surged the demand for meat and seafood in the US, Canada, Mexico, and other countries in the region. Due to the increasing number of health-conscious consumers, the consumption of meat-based diets and spending on nutritional food is significantly increasing in the region. According to the Agriculture and Agri-Food Canada (AAFC), in 2021, consumers in Canada recorded US$ 601.1 million in per capita consumption of meat, which has increased compared to the value in 2017, which was US$ 523.9 million. At the same time, per capita consumption of poultry by Canadian consumers was 35.8 kilograms in 2021, a rise from 33.4 kilograms in 2017. The animal feed industry supports the sustainable growth in animal husbandry, and animal feed plays a significant role in the global food industry as it ensures safe and nutritious means of animal proteins. Fish protein hydrolysates are a rich source of amino acids and peptides. Most fish protein hydrolysate (FPH) are amorphous powders, hygroscopic in nature, containing 81–93% protein, less than 5% fat and 3–8% ash, and 1–8% moisture. It boosts the metabolic system of animals; hence, protecting them from the risk of infections and diseases. Therefore, the benefits associated with fish protein hydrolysate (FPH) have a massive demand in the animal feed industry, propelling the market growth.
North America Fish Protein Hydrolysate Market for Animal Feed Application Segmentation
The North America fish protein hydrolysate market for animal feed application is segmented into form, application, and country.
Based on type, the North America fish protein hydrolysate market for animal feed application is bifurcated into dry and liquid. The dry segment held a larger share of the North America fish protein hydrolysate market for animal feed application in 2023.
Based on application, the North 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 ruminant segment held the largest share of the North America fish protein hydrolysate market for animal feed application in 2023.
Based on country, the North America fish protein hydrolysate market for animal feed application is segmented into the US, Canada, and Mexico. The US dominated the share of the North America fish protein hydrolysate market for animal feed application in 2023.
Bio-marine Ingredients Ireland Ltd, Janatha Fish Meal & Oil Products, Kemin Industries Inc, and Symrise AG are some of the leading companies operating in the North America fish protein hydrolysate market for animal feed application.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 62,387.49 Million |
| Market Size by 2030 | US$ 85,701.64 Million |
| CAGR (2023 - 2030) | 4.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2030 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Fish Protein Hydrolysate Market is valued at US$ 62,387.49 Million in 2023, it is projected to reach US$ 85,701.64 Million by 2030.
As per our report North America Fish Protein Hydrolysate Market, the market size is valued at US$ 62,387.49 Million in 2023, projecting it to reach US$ 85,701.64 Million by 2030. This translates to a CAGR of approximately 4.6% during the forecast period.
The North America Fish Protein Hydrolysate 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 North America Fish Protein Hydrolysate Market report:
The North America Fish Protein Hydrolysate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Fish Protein Hydrolysate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Fish Protein Hydrolysate Market value chain can benefit from the information contained in a comprehensive market report.
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