Animal Protein Market Size, Share, Growth Forecast

The global animal protein market was valued at USD 20.11 billion in 2022 and is projected to grow from USD 21.09 billion in 2023 to USD 28.67 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.49% during the forecast period.

Proteins, essential macromolecules composed of amino acid chains, are crucial for muscle development. The increasing demand for nutraceutical products, particularly in the U.S., is a significant driver of growth in the North American animal protein market.

These insights are detailed in the research report by Fortune Business Insights™, titled “Animal Protein Market, 2023-2030.”

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Segmentation:

Whey Segment Stands out With the Highest Growth Rate Owing to Rise in Participation in Athletics

By type, the market is divided into whey, egg protein, gelatin, and caseinate. The whey segment to exhibit the highest growth rate during the forecast period. The growing participation in athletics, sports, and fitness regimes among people is augmenting the whey segment growth.

Food & Beverages Segment GripWith Highest Share Owing to Health-Conscious Trends and Infant Formula Demand

By end-use, the market is fragmented into pharmaceuticals, food & beverages, cosmetics, and animal feed. The food & beverages segment secures the highest share in the market owing to the increasing preference for a health-conscious lifestyle. Moreover, the surge in demand for infant formula contributes to this growth, prompting pharmaceutical and food and beverage manufacturers to introduce new products.

In terms of region, the market is categorized into Europe, North America, the Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report offers an in-depth analysis, focusing on key elements such as market types, end-uses, and leading companies. It also provides valuable insights into current market trends and highlights significant industry developments. Additionally, the report examines various factors that have been instrumental in driving market growth in recent years.

Drivers and Restraints:

Surging Demand for Protein-Rich Diets Among Individuals to Propel Market Growth

The increasing preference for protein-rich diets is a significant driver of the growing demand for animal proteins, such as whey and egg white powder, among food and beverage manufacturers. This trend is supported by heightened global awareness of the health benefits associated with these proteins.

However, concerns about the environmental impact of poultry and animal husbandry are limiting the consumption of animal proteins.

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Regional Insights:

Asia PacificHolds the Dominant ShareOwing to Rapid Urbanization and Increased Spending Capacity

The Asia Pacific region leads the animal protein market, driven by rapid urbanization and increased spending power in countries such as India and China. India, for example, accounts for approximately 22% of global milk production, underscoring the region’s significant role.

In North America and Europe, growth is projected to be supported by rising food product consumption, especially in the bakery sector. This trend is expected to contribute to market expansion in these regions.

Competitive Landscape:

Major Industry Participants Focuses on Product Launches to Meet Product Demand

Major players leading the global animal protein market include Kerry Group, Arla Foods, and Cargill. These companies are concentrating on technological advancements, new product launches, and regional expansion to meet the growing global demand for animal proteins. For instance, Cargill’s establishment of the Protein Innovation Hub in France highlights its commitment to developing innovative protein products to address the rising market demand.

Key Industry Development:

August 2020- The well-known meatpacker JBS announced that the company had invested approximately USD 400 million in launching its new collagen and gelatin business.

List of Key Players Mentioned in the Report:

• Arla Foods Inc. (Denmark)
• Nitta Gelatin Inc. (Japan)
• Shenzhen Taier Biotechnology Co. Ltd. (China)
• Kerry Group Plc. (Ireland)
• Peterlabs Holdings (Malaysia)
• Archer Daniels Midland Company (U.S.)
• Trobas Gelatine B.V. (Netherlands)
• Cargill Incorporated (U.S.)
• Kewpie Corporation (Japan)
• Darling Ingredients Inc. (U.S.)

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