Various studies suggest that global fish protein concentrate market is expected to witness a robust growth in coming years. The studies suggest that the market is projected to witness an average growth of 5.5% CAGR in next few years. By 2018 the approximate consumption of the protein concentrate reached to the value of ~57,500 MT. This growth of market is attributes to changing lifestyle of the people across various countries. Rising awareness of health consciousness amongst people is also contributing towards this significant growth of global fish protein concentrate market.
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Factors Responsible for the Growth of the Market
“Strong Advertisement Campaigns to attract more customers and help improving the sales of a business.” –Says studies.
According to studies, businesses in global fish protein concentrate market are resorting to various strategies in order to overcome tough competition of the market. These businesses are inclining towards mergers, partnerships and collaborations so as to acquire necessary resources to compete against some of the prominent players of global fish protein concentrate market.
Moreover, players are also adopting strategies such and product launches in order to enhance their sales. These product launches allow businesses to strengthen their brand presence in the global fish protein concentrate market. They allow the players to attract new customers while retaining their existing ones. All these factors are supporting the growth the global fish protein concentrate market.
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Furthermore, the growth of the market is also defined by the formulations businesses offers to the customers. In addition various government policies in order to promote the fisheries industry is also influencing the growth of global fish protein concentrate market. Also, initiatives to promote healthy food habits, governments of countries such as Sweden, Japan, U.S., and Canada are focusing fish protein concentrate as a must have ingredient in food items. This as a result is also influencing the growth of global fish protein concentrate market.