FPH is a rich source of micronutrients and fatty acids and provides several health benefits
The global fish protein hydrolysate market size is projected to reach USD 361.5 million by 2027 registering a CAGR of 5.1%, according to a new report by Grand View Research Inc. The demand for Fish Protein Hydrolysate (FPH) is projected to be driven by the growing consumption of chemical-free and nutrient-rich food products among consumers across the globe. On account of the presence of vitamin A & D and minerals, the product is utilized as an ingredient in various food applications.
Since FPH is a rich source of micronutrients and fatty acids, it provides several health benefits, such as boosting the metabolic system and aiding in the development of healthier skin and bones in animals.
Suggestions from the report:
- Factors like low operating costs, ease of storage and transportation, and longer shelf life than a liquid solution, are projected to augment the demand for powdered FPH
- Anchovy source segment accounted for the largest revenue share of over 32% in 2019.
- Growing demand for the anchovy protein hydrolysate in skincare products, on account of the product’s ability to defend scleroprotein and nourish the skin, is likely to fuel the segment growth.
- Strong FPH manufacturing base and increased focus of companies on R&D activities are projected to drive the regional market
On the basis of source, anchovy-based protein hydrolysate led the global market and is projected to record a CAGR of 5.1%, in terms of revenue, from 2020 to 2027. Asia Pacific is expected to witness the fastest CAGR over the forecast years on account of the rising consumption of animal-rich protein sources.