Animal Feed Protein Market to Hit $420 Billion by 2032, says Global Market Insights inc.
Animal feed protein industry is expected to register 3.5% CAGR between 2023 and 2032, rising livestock production is likely to drive the industry growth.
Selbyville, Delaware, Dec. 15, 2022 (GLOBE NEWSWIRE) — As per the report published by Global Market Insights Inc., the Global Animal Feed Protein Market was estimated at USD 290 billion in 2022 and is expected to surpass a valuation of $420 billion by 2032, progressing at a CAGR of 3.5% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Protein plays an important role in the productivity of farm animals. Among the key nutritive protein supplements for animal feed, fishmeal and soy are considered as one of the best options, as they are not only full of proteins essential for animal growth, but they also have necessary amino acids. With rising government funding through loans and subsidies, and increasing livestock health awareness, the availability of high-quality feed ingredients in animal diets has increased significantly, which has positively anchored the industry trends. The notion of protein rich diets for poultry being highly digestible and devoid of less anti-nutritional factors (ANF’s) will drive the uptake in Asia Pacific region.
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Rising preference for plant proteins by vegan pet-owners in pet diets
The global animal feed protein market share from plant protein-based applications is forecasted to account for over USD 35 billion by 2032. Plant-based protein preferences in pets’ food diets have been demonstrated to closely resemble those of their vegan or vegetarian owners. The findings of a recent global pet survey reveal that over 38% of pet-parents opt for vegan diets for their pets since they are vegan themselves. The shift in human preferences for plant-based protein has influenced the animal feed choices over the years. Some common non-meat proteins are obtained from plant-based sources such as soybeans, rapeseed, sunflower, wheat, peas, other cereals & pulses. In the future, ease in product availability and cost-effectiveness will be the two major factors supporting the product demand
Essential protein needs in poultry to drive product adoption
Poultry segment is expected to reach over USD 200 billion by 2032. The rise in demand for packaged as well as processed meat together with significant growth in food processing technologies should drive animal feed protein market demand. Poultry includes domesticated birds that are kept by humans for meat, eggs, and for various other purposes. It also includes domesticated avian species such as goose, hen, turkey, duck, and others. Protein is a vital nutrient for poultry, and plays a significant role in growth, immunity, egg production, adaptation to the environment, and in many other biological functions. The growth in demand for insect protein in poultry livestock can also be attributed to a growing demand for the poultry meat industry.
Increasing pet population in North America to augment the market expansion
North America animal feed protein market is anticipated to witness over 3.5% CAGR by 2032. One of the prominent factors driving the market growth comprises the rising pet population in the U.S. A 2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA) found that 67% of U.S. households, or about 85 million families, own a pet. It is expected that this growing pet population in the U.S will generate high product demand for alternative protein in the region.
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Capacity expansion efforts to shape the competitive landscape for the animal feed protein market
Hamlet Protein A/S, E.I. DuPont De Nemours and company, Nordic Soy Oy, Deep Branch Biotechnology, Agriprotein Gmbh, Darling Ingredients, Archer Daniels Midland Company, Innovafeed, Calysta Inc., Lallemand Inc., AB Mauri, Titan Biotech Limted Company, Sojaprotein, Crescent Biotech, Ynsect, Angel Yeast, The Scoular Copmany, Cargill Inc., Nutraferma LLC, Evershining Ingredients, CHS Inc., Imcopa Food Ingredients B.V., CJ Selecta, Unibio Group and Kerry Group are some leading players comprising the competitive landscape of animal feed protein market.
Partial chapters of report table of contents (TOC):
Chapter 3 Animal Feed Protein Market Industry Insights
3.1 Industry segmentation
3.2 COVID-19 overview on world economy
3.3 Impact of Russia-Ukraine war on the Market
3.4 Industry ecosystem analysis
3.5 Raw material trends
3.6 Nutritive composition of different non-ruminant processed animal protein
3.7 Maximum inclusion rate of oilseed meals in livestock diets
3.8 Nutritive composition of different non-ruminant processed animal protein
3.9 Technology Landscape
3.10 Regulatory landscape
3.11 Pricing analysis
3.12 Cost structure analysis, 2021
3.13 Industry impact forces
3.14 Global animal feed industry overview
3.15 Growth potential analysis, 2021
3.16 Porter’s analysis
3.17 PESTEL analysis
3.18 Impact of COVID-19 on animal feed protein ingredients demand
Chapter 4 Competitive Landscape, 2021
4.1 Competitive landscape, 2021
4.1.1 Animal feed protein ingredients company market share, 2021
4.1.2 Plant protein company market share for animal feed, 2021
4.1.3 Animal protein company market share for animal feed, 2021
4.1.4 Alternative protein company market share for animal feed, 2021
4.1.5 Strategy dashboard- Plant Protein and animal feed protein ingredients
4.1.6 Strategy dashboard- Animal Protein from Animal Feed
4.1.7 Strategy dashboard- Alternative Protein from Animal Feed
4.1.8 Brands benchmark analysis
4.1.9 Price positioning strategy
4.1.10 Top players overview
4.1.11 Benchmark analysis against other premium protein products with similar profiles
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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