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Fish protein concentrate (FPC) is a stable fish preparation that in intended for human consumption and contains protein in high concentration than the original fish. The FPC is bland tasting, white to tan-brown and contains 75-95% of high-quality protein. The demand for FPC has increased in recent years due to the increase in global fish production and increased consumption. According to the Food and Agriculture Organization (FAO) in 2015, fish accounted for approximately 17% of total animal protein consumed globally. Along with this, fish provides 20% of the average per capita animal protein intake in about 3.2 billion people. Thus, the abundant availability of fish protein and its growing popularity have cumulatively driven the global market growth.
Fish protein concentrate is widely consumed across the world as an energy source, along with its dietary contribution as a high-quality, easily digestible animal protein. This has nudged the manufactures to incorporated FPC in various processed foods such as bread, cookies, and biscuits to enhance its nutritional properties and to suffice the consumers surging demand. Further, in the developing economies, it is an affordable animal protein ingredient and is utilized by the food processors in many local and traditional recipes such as soups, stew, macaroni, spaghetti sauce, and others. Such attributes of FPC have aided in boosting the market growth.
The increasing awareness among the consumers about the benefits associated with consuming fish protein has encouraged fortified foods and dietary supplements manufacturers to incorporate them into their products. It offers health benefits such as healthy heart and brain which is a main driving factor in its market growth. Further, their bioactive and antioxidant properties aids in relieving several gastrointestinal issues such as irritable bowel syndrome, thus, contributing to the market growth.
The higher chances of microbial contamination due to exposure to air and moisture leads to an increase in storage and preservation costs to avoid spoilage, which acts as a major restraint in the market growth. The high initial investment costs for setting up the plants and lengthy process for the production of fish protein concentrates can also impede market growth.
Key Market Driver -
Growing Demand for FPC in Dietary Supplements
Key Market Restraint -
High Preservation Cost and Chances of Microbial Contamination
The key companies operating in the global fish protein concentrate market are, Colpex International Inc., Omega Protein Corporation, BioOregon Protein, Inc., Scanbio Marine Group AS, Advance International, Inc., Aroma NZ Ltd., Bevenovo Co., Ltd, Bio Phoenix Formulations, Apelsa Guadalajara, S.A. de C.v, and Bio Marine Ingredients Ireland Ltd.
The type A fish protein concentrate segment is likely to hold the larger share in the market owing to its high protein content than the other variants. Type A FPC contains 80% of protein concentrate and is an odourless and tasteless powder. It is usually incorporated in wheat bread to increase their lysine content, which is widely consumed as a staple food in parts of the world.
The food and beverage application segment is anticipated to account for the major share as it is widely used as a flavour enhancer in many food items such as pasta and noodles. The demand for instant food products such as pasta and noodles are expected to drive its market. Further, their incorporation in tastemakers and flavour enhancers to offer new distinct flavour and improved functionality is expected to boost the market growth.
North America is expected to hold a major share in the market due to the extensive consumption of FPC as protein-rich dietary supplements for boosting the overall health of the consumers. In 2016, according to FAO, the U.S. along with Europe, and Japan accounted for approximately 64% of the total world imports of fish and fish products. Further, the growing enthusiasm towards fitness and healthy weight management has led to an increase in consumption of FPC, which is expected to drive the regional market growth.
Asia Pacific is anticipated to hold immense potential to emerge as a fastest-growing region in the market as it is one of the largest producers of fish and fish products. According to FAO, in 2016, China was the worlds’ top producer of fish followed by India, Vietnam, and Bangladesh. Further, the abundant raw material and easy labour availability are also the factors that will positively impact the regional market growth.
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