Thailand is among the largest markets of fish protein in the ASEAN region. The fish protein industry in Thailand currently holds around 6% of total Asia-Pacific fish protein market. The industry of other protein types such as whey, soy and wheat fairly lead to the fish protein industry by a huge margin in terms of growth and market revenue but with changing dynamics of the protein market since past few years, fish protein market of Thailand is expected to capture good growth in coming years. The fish protein market in Thailand is currently estimated at the revenue of $0.05 million in 2018. Due to rising demand of fish protein across various segments of the industry including food, beverage, dietary supplements and animal feed, the market revenue of fish protein is estimated to capture the value of $0.07 million by 2023, registering a CAGR of 6.8% during the forecast period.
Major drivers of the fish protein industry in Thailand includes ever-growing concern about the health concern especially obesity, demand of supplementary products-based medicine to cure heart diseases and surging population wanting to lead fit lifestyle. The application of fish protein across dietary supplements industry captures around 35% of market share which is highest among all the applications of fish protein in the country. With rising demand of supplement-based products among the sports and body builder’s community, the application of fish protein across supplements industry is estimated to grow at fastest CAGR of 7.3% during the forecasting period 2018 to 2023.
Beverage industry in Thailand has recorded considerable shift because of ever growing demand of highly nutritious products. Due to recommendations from various experts about the health benefits of high protein containing drinks and other products, there is huge scope for the fish protein manufacturers to expand its application across drinks, juices, shakes and other products across beverage industry. In Thailand, the consumption of fish is very high, and fish protein is found to provide various health benefits. Thus, there is huge scope to expand the application of fish protein isolates and fish protein concentrate across various segments of food industry including confectionery, bakery and snacks. Additionally, the demand of meat alternative has been growing rapidly due to increasing population giving up meat because of high fat content in it. Fish protein is added as an ingredient to enhance the taste, flavor and appearance of meat alternative. This shows that there is huge opportunity of fish protein across food industry which with intensive exploration will aid the growth of fish protein industry.
Key Deliverables
Major drivers of the fish protein industry in Thailand includes ever-growing concern about the health concern especially obesity, demand of supplementary products-based medicine to cure heart diseases and surging population wanting to lead fit lifestyle. The application of fish protein across dietary supplements industry captures around 35% of market share which is highest among all the applications of fish protein in the country. With rising demand of supplement-based products among the sports and body builder’s community, the application of fish protein across supplements industry is estimated to grow at fastest CAGR of 7.3% during the forecasting period 2018 to 2023.
Beverage industry in Thailand has recorded considerable shift because of ever growing demand of highly nutritious products. Due to recommendations from various experts about the health benefits of high protein containing drinks and other products, there is huge scope for the fish protein manufacturers to expand its application across drinks, juices, shakes and other products across beverage industry. In Thailand, the consumption of fish is very high, and fish protein is found to provide various health benefits. Thus, there is huge scope to expand the application of fish protein isolates and fish protein concentrate across various segments of food industry including confectionery, bakery and snacks. Additionally, the demand of meat alternative has been growing rapidly due to increasing population giving up meat because of high fat content in it. Fish protein is added as an ingredient to enhance the taste, flavor and appearance of meat alternative. This shows that there is huge opportunity of fish protein across food industry which with intensive exploration will aid the growth of fish protein industry.
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
