Saudi Arabia is among the strongest economies in the world. The protein industry in the country is growing slowly mainly because of very low awareness among the population about its potential health benefits. Nevertheless, with growing demand of highly nutritious products, along with other protein markets, the fish protein industry is estimated to capture the value of $0.03 million by 2023, growing at a CAGR of 6.1% during the forecast period 2018 to 2023.
The consumption of meat and meat-based products in Saudi Arabia is very high. But in past few years, with increase in penetration of social media among the consumers, the awareness about the benefit of protein-based products to cope with various prevailing diseases such as heart, cardiovascular and obesity, is growing. Additionally, the demand of lactose free products and gluten free products is booming due to increase in number of population sensitive towards lactose and gluten. Fish protein being free of both lactose and gluten can be used as an application across dairy alternative products. Because of such factors, the application of fish protein across food industry is estimated to reach at the value of $0.022 million by 2023, at a CAGR of 5.9% during 2018 to 2023.
The trend of attending gym and fitness studios among the population in Saudi Arabia is rising rapidly. Additionally, body builders and sports person are also demanding protein-based supplement products including protein bars, protein drinks, juices and other products. This could provide huge opportunity for the fish protein manufacturers to develop supplement products based upon the current demand of consumers. Some factors that hinders the fish protein market includes established market of whey, soy and wheat protein, increase in trend of vegan and vegetarian among the population and low awareness about the fish protein-based products across various industry segments.
Key Deliverables
The consumption of meat and meat-based products in Saudi Arabia is very high. But in past few years, with increase in penetration of social media among the consumers, the awareness about the benefit of protein-based products to cope with various prevailing diseases such as heart, cardiovascular and obesity, is growing. Additionally, the demand of lactose free products and gluten free products is booming due to increase in number of population sensitive towards lactose and gluten. Fish protein being free of both lactose and gluten can be used as an application across dairy alternative products. Because of such factors, the application of fish protein across food industry is estimated to reach at the value of $0.022 million by 2023, at a CAGR of 5.9% during 2018 to 2023.
The trend of attending gym and fitness studios among the population in Saudi Arabia is rising rapidly. Additionally, body builders and sports person are also demanding protein-based supplement products including protein bars, protein drinks, juices and other products. This could provide huge opportunity for the fish protein manufacturers to develop supplement products based upon the current demand of consumers. Some factors that hinders the fish protein market includes established market of whey, soy and wheat protein, increase in trend of vegan and vegetarian among the population and low awareness about the fish protein-based products across various industry segments.
Key Deliverables
- Market trends since 2014 and five year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects and competition pattern
- Insights on growth potential of the market
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Table of Contents
1. Introduction
2. Summary
3. Industry Dynamics
4. Market Size and Forecast
5. Competitive Analysis
6. Company Profiles
Companies Mentioned
- Triple Nine Group A/S
- Advance International Inc.
- Ingredients Inc.
- Omega Protein
- Alaska Protein Recovery
- Guyamas Protein Company
- Bacarel Express
- BioOregon Protein
- Sopropeche
- Hofseth Biocare ASA
- A. Costantino & C. S.P.A.
- Aroma NZ
