Animal Feed Protein Market size to surpass USD 420 Billion by 2032

Animal Feed Protein Market size will be valued at more than USD 420 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
 

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.
 

Rising preference for plant proteins by vegan pet-owners in pet diets

The global plant 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.
 

Browse key industry insights spread across 1600 pages with 2752  market data tables and 88 figures & charts from the report “Animal Feed Protein Market Size, by Product (Plant Protein, Animal Protein, Alternative Protein) and Livestock (Poultry, Swine, Cattle, Aquaculture, Petfood, Equine), COVID-19 Impact Outlook, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/global-protein-market-for-animal-feed-application
 

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.
 

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.