Fish Protein Concentrate Market Size Valued at USD 259.3 Mn by 2033

Introduction

New York, NY – February 11, 2025 – The global Fish Protein Concentrate (FPC) Market is experiencing significant growth and is expected to reach a value of approximately USD 259.3 Million by 2033, up from USD 128.2 million in 2023, reflecting a compound annual growth rate (CAGR) of 7.3% during the forecast period from 2024 to 2033.

This growth is driven by increasing demand for protein-rich alternatives in the food and animal feed industries, as well as the growing awareness of the health benefits associated with fish-derived proteins. Additionally, FPC’s rising popularity as a sustainable and nutrient-dense source of protein has fueled its demand, particularly in the health-conscious consumer segment.

The market is benefiting from various expansion opportunities, such as innovations in processing technologies and an expanding base of consumers seeking environmentally friendly and nutritious protein options. Furthermore, growing applications in functional foods, dietary supplements, and aquaculture feed are contributing to the market’s rapid development. As more regions adopt FPC as a viable protein source, especially in developing economies, the market is set to witness robust growth over the next decade, unlocking new opportunities for manufacturers and stakeholders across the value chain.

Key Takeaways

• Fish Protein Concentrate Market size is expected to be worth around USD 259.3 Mn by 2033, from USD 128.2 Mn in 2023, growing at a CAGR of 7.3%.
• In 2023, Type A held a dominant market position, capturing more than a 41.2% share.
• Tuna held a dominant market position, capturing more than a 32.2% share.
• Powder held a dominant market position, capturing more than a 61.2% share.
• Food & Beverages held a dominant market position, capturing more than a 39.1% share.
• North America leads with a commanding 42.3% market share, amounting to USD 54.3 million.

Report Scope

Emerging Trends

• Sustainability Focus: There is a growing shift towards sustainable sourcing of fish for protein concentrate production. Consumers and manufacturers alike are increasingly prioritizing eco-friendly practices, such as sustainable fishing methods and traceability, to reduce the environmental impact of fish farming and protein production, aligning with global sustainability goals.
• Increased Use in Animal Feed: Fish protein concentrate is gaining popularity as a key ingredient in animal feed, especially in the aquaculture and pet food industries. Its high-quality protein content supports animal growth and health, leading to its increasing use in both traditional livestock and more specialized sectors like aquaculture.
• Health-Conscious Consumer Demand: With a rise in health-conscious consumers, FPC is being incorporated into functional foods, supplements, and sports nutrition products. Its rich amino acid profile, essential fatty acids, and vitamins make it a highly attractive ingredient for products targeting improved muscle recovery, immune function, and overall well-being.
• Technological Advancements: Advances in processing technologies, such as enzymatic hydrolysis and membrane filtration, are enhancing the quality and yield of fish protein concentrate. These innovations improve the nutritional profile of FPC while reducing waste, making it a more efficient and cost-effective product for manufacturers.
• Plant-Based Protein Integration: The increasing popularity of plant-based diets is driving interest in plant-protein blends. Manufacturers are exploring combinations of fish protein concentrate and plant-based proteins to cater to the growing demand for hybrid protein products, balancing sustainability with nutritional benefits.

Use Cases

• Animal Feed in Aquaculture: Fish protein concentrate is widely used in aquaculture feed due to its high protein content and essential nutrients. It supports optimal growth and health in fish, improving feed conversion rates and reducing disease susceptibility, making it a valuable ingredient for sustainable fish farming practices.
• Pet Food Production: Fish protein concentrate is increasingly utilized in pet food formulations, offering a highly digestible protein source for pets, particularly for cats and dogs with sensitivities to common meat proteins. It helps in enhancing the overall nutritional value of pet food, promoting better skin, coat health, and immune function.
• Human Nutrition: FPC is increasingly used in functional foods and dietary supplements. Its rich amino acid profile, including essential fatty acids and minerals, makes it an ideal addition to protein bars, shakes, and meal replacement products. It supports muscle repair, immune health, and overall well-being for health-conscious consumers.
• Sports Nutrition: In sports nutrition, fish protein concentrate is gaining traction due to its high bioavailability and ability to support muscle recovery and growth. It is used in protein powders and supplements aimed at athletes, helping to reduce inflammation, enhance muscle repair, and improve endurance.
• Aquaculture Feed for Shrimp Farming: In shrimp farming, fish protein concentrate serves as a high-quality protein source that promotes faster growth, improves shrimp health, and enhances disease resistance. This use case is growing in response to the expanding global demand for shrimp and the need for more efficient and sustainable aquaculture practices.

Major Challenges

• Sustainability Concerns: One of the major challenges facing the fish protein concentrate market is ensuring sustainable sourcing practices. Overfishing and the depletion of marine resources can lead to environmental damage. Manufacturers need to adopt eco-friendly fishing practices and ensure traceability to meet consumer demand for ethically sourced products, which can be costly and complex to implement.
• Supply Chain Disruptions: The fish protein concentrate market is vulnerable to disruptions in the supply chain, particularly related to fish availability. Factors such as climate change, pollution, and geopolitical issues can impact the fishing industry, leading to fluctuations in raw material availability and price volatility, which affects production consistency and market stability.
• High Production Costs: The production of fish protein concentrate requires advanced processing techniques, which can be expensive. Technologies such as hydrolysis and filtration demand significant investment in equipment and energy. These high production costs can make it challenging for smaller manufacturers to compete with larger players and for the end product to remain cost-effective for consumers.
• Regulatory and Quality Control Issues: Fish protein concentrate production is subject to stringent regulations regarding food safety and quality standards. Compliance with these regulations can be challenging, especially in international markets, where standards may vary. Maintaining consistent product quality while adhering to these standards requires ongoing monitoring and significant investment in quality control processes.
• Consumer Awareness and Acceptance: While fish protein concentrate offers numerous health benefits, some consumers may have limited awareness or hesitation about its use, particularly those unfamiliar with fish-based products or dietary restrictions. Educating consumers about the nutritional advantages of FPC and overcoming skepticism, especially in new markets, is a challenge that requires focused marketing efforts.

Market Growth Opportunities

• Expansion in Emerging Markets: As income levels rise in emerging economies, there is an increasing demand for protein-rich foods. Fish protein concentrate presents a significant growth opportunity in these regions, where aquaculture and pet food industries are expanding rapidly, providing new markets for both animal and human nutrition applications.
• Increasing Popularity of Sustainable Products: With growing consumer preference for sustainable and eco-friendly products, fish protein concentrate offers a unique value proposition. Companies that focus on sustainable fishing practices and traceability will be able to capture a larger market share, especially among environmentally conscious consumers seeking ethically sourced protein alternatives.
• Innovation in Processing Technologies: Advancements in fish protein concentrate production technologies, such as more efficient filtration and extraction methods, present opportunities to improve yields, reduce costs, and increase product quality. These innovations can drive market growth by making FPC more accessible and affordable to a broader range of industries and consumers.
• Rising Demand in Pet Food: The pet food industry is witnessing strong growth, driven by an increasing number of pet owners and a rising focus on pet health. Fish protein concentrate is gaining popularity as a premium protein source in pet food formulations, opening up significant market opportunities for manufacturers targeting this rapidly expanding sector.
• New Applications in Functional Foods: Fish protein concentrate’s high nutritional profile makes it an ideal ingredient for functional foods, such as protein bars, meal replacements, and fortified snacks. As consumers increasingly seek health benefits from their food, the demand for FPC in these products is likely to grow, presenting a promising area for market expansion.

Recent Developments

1. Scanbio Marine Group

• Recent Developments:
  • Innovation: Scanbio Marine Group has been focusing on sustainable fish processing technologies, including the development of advanced hydrolysis methods for fish protein concentrate production. Their innovations aim to reduce waste and improve the nutritional quality of FPC.
  • Partnerships: In 2023, Scanbio partnered with a Norwegian research institute to explore the use of fish by-products in high-protein animal feed. This collaboration aligns with the EU’s circular economy goals.
  • Contribution to FPC Sector: Their advancements in hydrolysis and by-product utilization have significantly improved the efficiency and sustainability of fish protein concentrate production.

2. Colpex International

• Recent Developments:
  • Acquisitions: Colpex acquired a smaller fish processing company in 2023 to enhance its raw material sourcing capabilities.
  • Contribution to the FPC Sector: Colpex’s expansion has strengthened the supply chain for high-quality fish protein concentrate, particularly for the aquaculture and pet food industries.

3. BioOregon Protein

• Recent Developments:
  • Innovation: BioOregon Protein has developed a proprietary enzymatic process to produce highly digestible fish protein concentrate for use in aquaculture and pet food. This innovation was unveiled in early 2023.
  • Partnerships: In 2022, BioOregon partnered with a leading pet food manufacturer to supply FPC with high-protein pet food formulations.
  • Contribution to the FPC Sector: Their enzymatic process has set a new standard for digestibility and nutrient retention in fish protein concentrate.

4. Omega Protein

• Recent Developments:
  • Acquisitions: In 2023, Omega Protein, a subsidiary of Cooke Inc., acquired a fish oil refining company to integrate vertically and improve the quality of its fish protein concentrate and omega-3 products.
  • Innovation: Omega Protein has invested in R&D to produce FPC with enhanced amino acid profiles, targeting the sports nutrition and dietary supplement markets.
  • Contribution to the FPC Sector: Their vertical integration and R&D efforts have improved the quality and application range of fish protein concentrate.

5. Apelsa Guadalajara

• Recent Developments:
  • Partnerships: In 2023, Apelsa partnered with a Mexican university to research the use of fish protein concentrate in combating malnutrition in developing regions.
  • Contribution to FPC Sector: Their focus on sustainability and social impact has positioned Apelsa as a leader in ethical FPC production.

Conclusion

The Fish Protein Concentrate Market is poised for substantial growth, driven by increasing demand across various sectors, including aquaculture, pet food, and human nutrition. As consumer preferences shift toward sustainable, high-quality protein sources, FPC presents a valuable opportunity for companies to expand their product offerings.

However, challenges such as sustainability concerns, production costs, and market competition must be addressed to fully capitalize on this potential. With innovations in processing technologies and growing awareness of its nutritional benefits, fish protein concentrate is set to play a significant role in the global protein market over the coming years. As demand for sustainable and functional food ingredients rises, FPC’s market prospects look promising, offering exciting opportunities for manufacturers and stakeholders.

Discuss Your Needs With Our Analyst

Please share your requirements with more details so our analyst can check if they can solve your problem(s)

Request a Sample Download PDF