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Fish Protein Powder Market Analysis:
The global Fish Protein Powder Market will touch USD 5,066.33 million at a 5.70% CAGR by 2030, as per the latest Market Research Future report.
Drivers:
Use of Fish Proteins in Dietary Supplements and Sports Nutrition to Boost Market Growth
The use of fish proteins in dietary supplements and sports nutrition will boost market growth over the forecast period. Due to their high protein content, high bioavailability, and low lipid content, fish protein has become a popular ingredient in sports nutrition and supplements. Fish protein is especially beneficial for athletes and fitness enthusiasts because it helps build and repair muscle, reduce inflammation and pain, and improve overall athletic performance.
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Opportunities:
Increasing Awareness about Health Benefits of Omega 3 Fatty Acids to offer Robust Opportunities
The rising awareness concerning health benefits of omega 3 fatty acids that is present in fish will offer robust opportunities for the fish protein powder market in the forecast period. Because omega-3 fatty acids are proven to lower inflammation, boost brain development, and improve heart health, fish protein powder appeals to consumers who are health-conscious.
Restraints and Challenges:
Dearth in Raw Materials to act as Market Restraints
The dearth in raw materials, fluctuating fish prices, and changes in regulation may act as market restraints over the forecast period.
Market Segmentations:
The global fish protein powder market is bifurcated based on distribution, end user, application, and product type.
By product type, fish protein concentrates will lead the market over the forecast period.
By application, animal feed will domineer the market over the forecast period.
By end user, commercial will spearhead the market over the forecast period.
By distribution channel, B2B will spur the market over the forecast period.
COVID-19 Analysis:
Transportation, trade & labour disruptions had disrupted fish and aquatic food supply chains. Most fishmeal manufacturers were closed and the need for imported raw materials also reduced. All these influenced the growth of the Fish Protein Powder Market.
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Regional Analysis:
North America to Command Fish Protein Powder Market
North America will command the fish protein powder market over the forecast period. Increased fish production throughout the region and the ability to use the fish to obtain protein by sieving or sedimenting and drying the bones, or extracting the oil to obtain more protein, could lead to a market growth. Besides, sophisticated retail structures and increasing acceptance of fish protein due to rising obesity, increased consumer spending on diet foods and nutraceuticals is also contributing to the popularity of fish proteins in the region. However, due to increasing fish farming and increasing use of fishmeal in the animal feed industry, China is likely to witness the fastest CAGR growth over the forecast period.
Key Players:
Eminent industry players profiled in the global fish protein powder market report include Mukka Proteins Limited (India), Omega Protein Corporation (US), Hofseth Biocare ASA (Norway), Bio-Marine Ingredients Ireland (Ireland), BioOregon Protein (US), TripleNine (Europe), FF Skagen A/S (Europe), Hangzhou Nutrition Biotechnology Co., Ltd (China), Janatha Fish Meal & Oil Products (India), and Hayduk (Europe).
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