Marine Protein Hydrolysate Market Size, By Source (Fish, Crustaceans, Algae), By Form (Liquid, Powder), By Form (Liquid, Powder), By Application (Food and beverages, Animal feed, Pharmaceuticals) & Forecast, 2024-2032

Marine Protein Hydrolysate Market Size

Marine Protein Hydrolysate Market size was valued at USD 274.3 million in 2023 and is estimated to observe around 4.3% CAGR from 2023 to 2032. The market, derived from proteins in fish, crustaceans, and algae through enzymatic or acidic processes, is witnessing notable growth.
 

According to the National Oceanic and Atmospheric Administration (NOAA), the global fish production reached 179 million tons in 2022, with a significant portion allocated to the production of marine protein hydrolysates. This surge is primarily attributed to the increasing consumer appetite for nutraceuticals, driven by a growing awareness of their health benefits, notably omega-3 fatty acids. Additionally, the U.S. Department of Agriculture (USDA) reported a 15% increase in the consumption of omega-3 supplements in 2023, further propelling market growth.
 

The food and beverage industry's embrace of marine protein hydrolysate as a natural additive, along with its pivotal position in aquafeed formulations, is propelling its prominence. According to the U.S. Department of Agriculture (USDA), the demand for natural additives in food products increased by 15% in 2022.
 

Moreover, heightened demand for sustainably sourced ingredients, expanding pharmaceutical uses, advancements in production technology, health-driven consumer preferences, and ongoing research efforts are all aligning to propel the marine protein hydrolysate market towards sustained growth in the coming years. The Food and Agriculture Organization (FAO) reported a 10% increase in the use of marine protein hydrolysate in aquafeed formulations in 2023, further underscoring its growing significance.
 

The marine protein hydrolysate industry faces a significant challenge in the form of fluctuations in raw material supply. The reliance on marine sources such as fish, crustaceans, and algae make the industry susceptible to variability in these raw material inputs. Factors such as overfishing, environmental changes, and regulatory measures can impact the availability and cost of these marine resources. This inherent vulnerability poses a potential pitfall for the market, as disruptions in the raw material supply chain can lead to increased production costs, reduced product availability, and potential market instability.
 

Marine Protein Hydrolysate Market Trends

Current trends in the marine protein hydrolysate industry reflect a dynamic landscape shaped by evolving consumer preferences and industry advancements. There is a notable surge in demand for sustainable and responsibly sourced marine ingredients, aligning with heightened environmental consciousness. The market is witnessing increased innovation in product formulations and applications, particularly in the development of functional food and beverage products and pharmaceutical applications.
 

The expansion of the aquaculture industry continues to drive the demand for marine protein hydrolysates in aquafeed formulations, emphasizing the crucial role of the ingredient in promoting animal health and growth. Additionally, technological advancements in production processes are optimizing efficiency and quality, contributing to the market's competitiveness. As health and wellness remain key consumer priorities, the market is poised for further growth, with a focus on diversification and strategic partnerships driving the next wave of trends in the marine protein hydrolysate sector.
 

Marine Protein Hydrolysate Market Analysis

Based on source, the fish source segment dominated around USD 104.2 million revenue in 2023. The market for crustacean and algae-derived products is experiencing robust growth driven by several key factors.
 

 Crustaceans, including shrimp and crab, are witnessing increased demand due to their versatile applications in the food industry, particularly in the production of seafood-based products and sauces. The rising popularity of crustaceans as a rich source of protein and essential nutrients aligns with the global trend towards healthier food choices.
 

On the other hand, algae-based products are gaining traction in various sectors, including food and beverages, pharmaceuticals, and cosmetics, owing to their sustainability and nutritional benefits. The use of algae in plant-based foods, nutraceuticals, and biofuels underscores its versatility and contributes to market expansion.
 

Based on form, the liquid form segment accounted for 56% of the marine protein hydrolysates market share in 2023. The powdered format offers convenience and versatility, making it an attractive choice for incorporation into various products. Its applications span across food and beverages, animal feed, and pharmaceuticals, contributing to its widespread adoption.
 

In the food industry, powdered marine protein hydrolysates are utilized for their nutritional enrichment properties in products like protein supplements, functional foods, and sports nutrition items. The ease of handling and storage of powdered forms also enhances their appeal in animal feed formulations, promoting the health and growth of livestock and aquaculture species. Based on application, the market is segmented as food and beverages, animal feed, pharmaceuticals, and others.
 

The marine protein hydrolysate market exhibits a diverse application landscape, with significant contributions from the food and beverages segment emerging as the dominant force. The heightened consumer awareness of health and wellness has propelled the demand for marine protein hydrolysates in functional foods, dietary supplements, and sports nutrition products within the food and beverage sector.
 

The versatility of marine protein hydrolysates is also evident in their pivotal role in animal feed formulations, fostering better growth rates and disease resistance in livestock and aquatic species. In the pharmaceutical realm, marine protein hydrolysates are gaining traction for their bioactive properties, finding applications in wound healing and anti-inflammatory drugs. Beyond these key segments, marine protein hydrolysates are exploring innovative applications in sectors categorized under 'Others,' showcasing the adaptability and potential for continuous market expansion.
 

The U.S. has firmly established its dominance in the North American region, commanding a substantial majority marine protein hydrolysate market share and achieving a noteworthy revenue of USD 96 million in 2023. This robust performance underscores the U.S.'s pivotal role in shaping the market dynamics and highlights the nation's significant influence on the overall regional landscape. The success can be attributed to various factors, including a well-established seafood industry, advanced production technologies, and a growing awareness among consumers regarding the health benefits of marine protein hydrolysates.
 

The U.S. market's resilience and impressive financial figures also suggest a strategic alignment with evolving consumer preferences, such as a preference for sustainable and nutritionally rich ingredients. This noteworthy achievement positions the United States as a key player in the North American marine protein hydrolysate sector, poised for continued growth and influence in the years to come.
 

Marine Protein Hydrolysate Market Share

In the Asia-Pacific marine protein hydrolysate industry, Bio-marine Ingredients, Ireland Limited and Copalis Sea Solutions have established themselves as key players, capturing significant market shares through a combination of strategic factors. Bio-marine Ingredients, Ireland Limited has leveraged its expertise in extracting protein, calcium, and oil from fish to produce high-quality marine protein hydrolysates tailored to the specific needs of Asian consumers.
 

Copalis Sea Solutions, on the other hand, has capitalized on its innovative and sustainable production processes, utilizing advanced enzymatic methods to create premium marine protein hydrolysates that cater to the growing demand for eco-friendly products in the region. Both companies have effectively established themselves as leading providers of marine protein hydrolysates in the Asia-Pacific market, contributing to the region's overall growth and development.
 

Marine Protein Hydrolysate Market Companies

Top companies operating in the Marine Protein Hydrolysate industry include:

• Bio-marine Ingredients, Ireland Limited
• Copalis Sea Solutions
• CR Brown Enterprises
• Diana Group
• Hofseth BioCare ASA
• Janatha Fish Meal & Oil Products
• Marutham Bio Ages Innovations (P) Ltd
• SAMPI
• Scanbio Marine Group AS
• Sopropêche
• Vinh Hoan Seafood JSC
• Enviro Tech International Ltd.
• Amano Enzyme Inc.
• Bio-Cat, Inc.
• Biomax Ltd.
   

Marine Protein Hydrolysate Industry News

• In September 2023, Bio-marine Ingredients Ireland Limited, a leading producer of marine protein hydrolysates, has announced plans to expand into the Asia-Pacific market. The company is investing in a new production facility in Vietnam, which is expected to be operational in 2024.
   
• In July 2023, Copalis Sea Solutions, a leading producer of marine protein hydrolysates, has launched a new line of products specifically designed for the food and beverage industry. The new products are made from a proprietary blend of fish and shellfish proteins, and they are said to offer superior taste, texture, and functionality.
   

The marine protein hydrolysate market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Million) (Tons) from 2021 to 2032, for the following segments:

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Market, By Source

• Fish
• Crustaceans
• Algae

Market, By Form

• Liquid
• Powder

Market, By Application

• Food and beverages
• Animal feed
• Pharmaceuticals
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA