Marine Derived Proteins Market Size - By Source (Fish-based, Shellfish-based, Algae-based), Form (Concentrates, Hydrolysates, Isolates), Distribution channel (Direct sales, Distributors, Retail), Growth Prospects, Regional Outlook & Forecast, 2024 - 2032

Marine Derived Proteins Market Size - By Source (Fish-based, Shellfish-based, Algae-based), Form (Concentrates, Hydrolysates, Isolates), Distribution channel (Direct sales, Distributors, Retail), Growth Prospects, Regional Outlook & Forecast, 2024 - 2032

The global marine derived proteins market is expected to grow at a CAGR of 10.2% during 2024-2032, driven by the rising popularity of algae-based sources, significant adoption of hydrolysates forms, and increasing focus on sustainability.

According to an article by The Good Food Institute in 2023, over 75% of consumers have tried or are open to trying plant-based meat, with 90% expressing a strong likelihood to consume it again. There is escalating demand for sustainable and eco-friendly protein sources. With a growing global population and increasing awareness of environmental concerns, there is a shift towards sourcing proteins from marine organisms. The marine environment, abundant with diverse and nutrient-rich species, offers an attractive solution to the protein needs of various industries, including food and beverage, pharmaceuticals, and cosmetics, thereby attracting a large consumer base.

The overall marine derived proteins industry is classified based on source, form, distribution channel and region.

The algae-based source segment is poised for continuous growth through 2032, driven by its status as an environmentally friendly alternative for protein production. These proteins not only provide a sustainable and scalable solution but also minimize environmental impact compared to traditional sources. Moreover, their appeal extends beyond the food and beverage sector, gaining traction across various industries.

The hydrolysates form segment is anticipated to gain popularity during the forecast period, driven by the demand for protein-rich products with improved solubility and functionality. Moreover, this form finds application in the pharmaceutical sector for the development of medical nutrition products, as well as in the sports nutrition sector for the formulation of protein supplements which has further contributed to its market appeal.

Asia Pacific marine derived proteins market is poised for a robust growth until 2032, driven by rising disposable incomes, a growing population, and increasing awareness of health & wellness. The region's thriving aquaculture industry, coupled with a rich marine biodiversity, further adds to market growth. Additionally, the increasing focus on sustainable practices and the incorporation of marine-derived proteins in traditional cuisines is expected to induce long term industry growth.