Animal Feed Protein Ingredients Market size to exceed $555 Bn by 2032

Animal Feed Protein Ingredients Market size is projected to reach USD 555 billion by 2032, according to a new research report by Global Market Insights Inc.
 

The market growth is driven by the high population, rapid urbanization, and rising economic standards, which are fueling the demand for meat and meat products. According to the OECD FAO, global per capita meat consumption is estimated to stabilize at around 35.6 kg/year by 2031. Furthermore, the long-term shift toward white meat due to its lower cost and ease of preparation is impelling poultry production.
 

Extensive use in feed to foster animal by-product segment growth

The animal feed protein ingredients market share from the animal by-product meals segment is expected to grow at 8.5% CAGR through 2032, as they are a widely sought-after source of amino acids, energy, and fatty acids. ABPs are extensively used in the manufacturing of fertilizers, feed, cosmetics, nutritional products, and sustainable fuels, including biodiesel. Additionally, in 2021, the scientific judgment on animal by-products by the European Food Safety Authority influenced the decision to partially lift the EU's Ban on ABP use as animal feed.
 

Rising use in aquaculture diets to impel blood meal segment share

Under animal by-product meals, the blood meal segment will cross USD 18 billion by 2032, owing to their growing utilization in premixes for bovine feed, swine diets, and aquaculture, since they are highly digestible, inexpensive, and can be easily incorporated into several types of feed. High demand for blood meals for aquaculture diets to improve fish growth, increase weight, and protein retention is speculated to drive the market revenue.
 

Browse key industry insights spread across 550 pages with 604 market data tables and 98 figures & charts from the report, “Animal Feed Protein Ingredients Market Size, By Product (Oilseed Meals [Soymeal, Rapeseed/Canola Meal, Sunflower Meal, Copra Palm Meal, Cottonseed Meal], Fishmeal, Animal By-product Meals [Meat & Bone Meal, Feather Meal, Blood Meal, Poultry Meal, Meat Meal]), By Livestock (Poultry [Broiler, Layer, Turkey], Swine [Starter, Grower, Sow], Cattle [Dairy, Calf], Aquaculture [Salmon, Trout, Shrimp, Carp, Yellow Catfish, Snakehead, Seabass, Pomfret, Herring, Eel, Turtle and Crab], Pet Food, Equine), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/animal-feed-protein-ingredients-market
 

High demand for blue food to contribute to the aquaculture segment expansion

As per livestock, the animal feed protein ingredients market share from the aquaculture segment is anticipated to generate over USD 26 billion by 2032, attributed to a growing global reliance on aquaculture to meet the rising demand for blue food, which is estimated to double by 2050. Moreover, increased government support for aquaculture sector development across various regions is set to supplement the industry growth. For instance, in January 2023, the Centre for Innovation Excellence in Livestock (CIEL), an Agri-Tech institute established by the UK government, announced initial funding for four new aquaculture projects.
 

Surge in salmon farming to accelerate market growth

Under aquaculture, the salmon segment is slated to depict over 9.5% CAGR from 2023 to 2032, due to the rising need for protein feed for the booming salmon farming sector. Moreover, increasing resources and knowledge that are providing potential growth opportunities for industry participants are likely to enhance segment progress. For instance, in November 2022, fish farm firm Norway Royal Salmon acquired SalmoNor from aquaculture expert NTS, clearing the path for its merger with leading farmed salmon producer SalMar, which was purposed to help both companies boost their market standing in the salmon farming sector in Norway.
 

Rising focus on improving livestock health to augment Europe industry share

The Europe animal feed protein ingredients market is predicted to surpass USD 149 billion by 2032. Livestock producers are embracing novel animal diets to enhance overall animal healthcare resulting from the rising emphasis on improving meat quality. As per the EU Commission, the EU sold over 9 million tons of beef, pork, poultry, and sheep & goat meat in 2020 and 2021. Additionally, the increased reliance on complex commercial aquafeed for the development of Europe's aquaculture sector is expected to impel the market demand.
 

Soaring focus on increasing feed palatability to define the competitive outlook

Some of the leading companies involved in the animal feed protein ingredients market include Alltech, Nutraferma LLC, CJ Selecta, GRF Ingredients, Green Labs LLC, Janatha Fish Meal & Oil Products, Nutrifish, Vetbiochem Group, Sotexpro, ATA Foods, Fenchem, and Haarslev Processing Technology. Industry players are working on product innovation to address emerging consumer demand, thereby enhancing the product landscape. For instance, in November 2022, ADM, a global leader in human and animal nutrition, introduced two new SUCRAM products: SUCRAM M'I Sweet and SUCRAM Specifeek, sweeteners developed to enhance feed palatability for young animals, specifically weanling pigs.