SOMAR-certified consulting firm Future Market Insights’ recent report forecasts the global fish protein market to exhibit a 5.6% CAGR between 2016 and 2020. As per the study, growing health awareness and preference for organic and protein-enriched food & dietary supplements has accelerated the sales of a powder formulation of fish protein. Also, manufacturers have amplified the production of fish protein supplements available in different flavours such as chocolate, coffee, and strawberry to increase the sales of fish protein supplements.
Surging demand for fish protein for various applications within diverse end-use sectors such as food & beverages, pharmaceuticals, and others is expected to drive the market. Longer shelf-life and easy transportation have encouraged the production of a powder formulation of fish protein.
Furthermore, rising health issues such as obesity increased sugar levels, and others leading to cardiovascular diseases have increased the consumption of fish protein supplements across countries such as United States, India, Australia, and the UK, thereby, fueling the sales of fish protein supplements. Based on the aforementioned factors, FMI estimates, the global fish protein market is poised to expand at a 7.2% CAGR through 2031.
“Fish protein manufacturers are consistently developing supplements in powder form, which is resulting in high demand in the food & beverage industry and creating scope for expansion in the sports nutrition industry,” remarks the FMI analyst.
