Asia Pacific Fish Protein Hydrolysate Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology ; Form, Source ; Application, and Country
NEW YORK, June 24, 2020 /PRNewswire/ -- The Asia Pacific fish protein hydrolysate market is accounted to US$ 86.2 Mn in 2018 and is expected to grow at a CAGR of 5.9% to account to US$ 143.6 Mn by 2027 during the forecast period 2019 - 2027.
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Fish protein hydrolysate is a bioactive compound that is a blend of degraded proteins extracted by the hydrolysis of protein extracted from fish material or fish.It is generally produced through enzymatic hydrolysis technique that involves decomposing the minced fish together with enzymes, and the hydrolysis process gives out smaller peptides and amino acids as major products.
The enzymatic hydrolysis requires the use of expensive enzymes, such as chymotrypsin, pepsin, alcalase, and trypsin, which increases the cost of production.The dried fish protein hydrolysate manufacturing involves a complex process of removal of moisture content and results in substantial energy requirements, which further shoot the production cost.
The production of dried fish protein hydrolysate involves the removal of moisture content, which is a complex step that results in substantial energy requirements, which further adds to the cost.The growing awareness about the benefits of fish protein is anticipated to influence the fish protein hydrolysate market at greater extent.
Countries such as the China, Japan, and India are the major producers of fish protein hydrolysate in APAC.
Based on technology, the fish protein hydrolysate market is categorized into hydrolysis, autolytic hydrolysis, and enzymatic hydrolysis.In 2018, the enzymatic hydrolysis segment dominated the Asia Pacific fish protein hydrolysate market.
The autolytic hydrolysis segment is expected to register rapid CAGR during forecast period.On the basis of form, Asia Pacific fish protein hydrolysate market is bifurcated into powder and liquid.
Based on source, the market is segmented into tuna, sardine, Atlantic salmon, crustaceans, and others.In 2018, the tuna segment accounted for the largest share of the Asia Pacific fish protein hydrolysate market.
On the basis of application, the fish protein hydrolysate market is segmented into animal feed, pet food, pharmaceuticals, cosmetics, and others. In 2018, the animal feed segment held the largest share of the market, whereas the pharmaceuticals segment is estimated to register the highest CAGR in the market during the forecast period.
The Asia Pacific fish protein hydrolysate market is sub segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific.China accounted for the largest share of the APAC fish protein hydrolysate market in 2018.
The country has the largest population in APAC, leading to increasing demands for food & beverages, cosmetics and personal care products, which, in turn, would contribute to the growth of its fish protein industry.The low manufacturing and capital costs in China attract new investments in the food & beverages industry of the country, providing better opportunities to the players in this industry.
China has a well-established cosmetics industry which offers the fish protein manufacturers a huge market opportunity. Also the availability of this product in different forms such as powder, paste, and liquid—contributing to their portability and easy handling—is attracting a greater customer base.
Copalis Sea Solutions, Diana Group, Hofseth BioCare ASA, Janatha Fish Meal & Oil Products, SOPROPÊCHE, Marutham Bio Ages Innovations (P) Ltd, and SAMPI are among the major players in the Asia Pacific fish protein hydrolysate market.
The overall Asia Pacific fish protein hydrolysate market size has been derived in accordance to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the fish protein hydrolysate market.
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