Report : Middle East & Africa Fish Protein Hydrolysate Market for Animal Feed Application Forecast to 2030 - Regional Analysis - by Form (Dry and Liquid) and Application [Poultry (Layers, Broilers, and Others), Ruminant, Swine, Aquaculture (Salmon, Tuna, Shrimps, and Others), Pets (Dogs and Cats), and Others]
At 5.1% CAGR, the Middle East & Africa Fish Protein Hydrolysate Market for Animal Feed Application is projected to be worth US$ 22.93 million by 2030, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa fish protein hydrolysate market for animal feed application was valued at US$ 16.19 million in 2023 and is expected to reach US$ 22.93 million by 2030, registering a CAGR of 5.1% from 2023 to 2030. Growing fish waste revolutionized the FPH demand and nutritional benefits of fish protein hydrolysate in animal nutrition are the critical factors attributed to the Middle East & Africa fish protein hydrolysate market for animal feed application expansion.
There is a rapid growth in the production of fisheries and aquaculture industry driven by the development of fishing technologies. With rising production of fisheries across the globe, fish waste is produced in a substantial amount. According to The National Institute of Biotechnology Information (NCBI), about two-thirds of the total fish production is discarded as waste. According to the Food and Agriculture Organization (FAO), apart from the quality losses in the supply chain worldwide, about 130 million tonnes of fish waste is produced yearly (i.e., ~75% of total fish production). The large amount of fish waste creates enormous economic and environmental concerns. Thus, the recycling and disposal of these wastes have become an important, compelling issue. Fish waste can be converted into value-added products such as FPH by adding various proteolytic enzymes. The skin, heads, bones, viscera, and liver of fish waste is a good source of amino acids, antioxidants, proteins, and peptides. The waste has also been found to possess desirable bioactive and functional peptides. Thus, companies are highly emphasizing on using fish waste as protein for various industries, animal feed being one of the significant industries. Thus, increasing fish waste by aquaculture and fisheries boosts FPH production which is driving the demand for the product in the animal feed industry.
On the contrary, challenges related to supply chain hampers the Middle East & Africa fish protein hydrolysate market for animal feed application.
Based on form, the Middle East & Africa fish protein hydrolysate market for animal feed application is segmented into dry and liquid. The dry segment held 70.1% share of Middle East & Africa fish protein hydrolysate market for animal feed in 2023, amassing US$ 11.35 million. It is projected to garner US$ 16.20 million by 2030 to expand at 5.2% CAGR during 2023-2030.
Based on application, the Middle East & Africa fish protein hydrolysate market for animal feed application is segmented into poultry, ruminant, swine, aquaculture, pets, and others. Poultry segment is divided into layers, broilers, and others. Aquaculture is segmented into salmon, tuna, shrimps, and others. Pets segment bifurcated into cats and dogs. The poultry segment held 54.7% share of Middle East & Africa fish protein hydrolysate market for animal feed in 2023, amassing US$ 8.86 million. It is projected to garner US$ 12.64 million by 2030 to expand at 5.2% CAGR during 2023-2030.
Based on country, the Middle East & Africa fish protein hydrolysate market for animal feed application is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East and Africa. Our regional analysis states that the Rest of Middle East and Africa captured 39.3% share of Middle East & Africa fish protein hydrolysate market for animal feed in 2023. It was assessed at US$ 6.37 million in 2023 and is likely to hit US$ 8.65 million by 2030, exhibiting a CAGR of 4.5% during 2023-2030.
Key players operating in the Middle East & Africa fish protein hydrolysate market for animal feed application are Janatha Fish Meal & Oil Products, Kemin Industries Inc, Novozymes AS, Sopropeche SA, and Symrise AG, among others.
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