Meticulous Research® – a leading global market research company published a research report titled “Animal Protein Ingredients Market by Type (Dairy Protein (Milk Protein, Whey Protein, Casein Protein), Egg Protein, Gelatin) and Application (Food and Beverages, Animal Feed, Nutritional Supplements, Pharmaceuticals) -Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the global animal protein ingredients market is expected to grow at a CAGR of 6.1% from 2020 to 2027 to reach $46.04 billion by 2027. This market is majorly driven by factors such as increasing demand for health supplements, rising population and urbanization, growing consumer awareness towards nutritional food, and improvement in supply chain management. Moreover, technological developments in the animal proteins industry further support the growth of this market. However, the increasing prevalence of milk allergies and lactose intolerance hinders the growth of this market to some extent. On the other hand, increasing consumer awareness about the benefits of a vegan diet poses a challenge to the animal protein ingredients market.
The global animal protein ingredients market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on type, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on type, the global animal protein ingredients market is segmented into dairy proteins, egg proteins, and gelatin. The dairy protein ingredients segment accounted for the largest share of the overall animal protein ingredients market in 2020. The leading position of this segment is mainly attributed to its huge demand in the food processing industries due to its versatile functionality. Its consumption is rapidly increasing in protein bars, meal replacement powder, high protein clinical formulation, and dietetic products. Additionally, the rising trend of healthy snacking culture and expansion of active nutrition will further contribute to the rapid growth of the dairy proteins segment during the forecast period.
Based on application, the global animal protein ingredients market is mainly segmented into food and beverages, nutritional supplements, animal feed, pharmaceuticals, and others. The food and beverage segment accounted for the largest share of the overall animal protein ingredients market in 2020. The large share of this market is mainly attributed to the rising acceptance of sugar-free, healthy, and functional ingredient-based processed food products and growing awareness and demand for protein-rich F&B products. However, the nutritional health supplements segment market is expected to witness rapid growth during the forecast period due to the rising fitness industry; increasing distribution channels of sports nutrition; and rising demand for protein bars, energy drinks, and other healthy snacks.
Geographically, Europe accounted for the largest share of the overall animal protein ingredients market in 2020, followed by North America, Asia-Pacific, Latin America, and the Middle East & Africa. The large share of this market is mainly attributed to growing innovation, increasing number of people preferring a healthy diet, the presence of a large number of animal protein ingredient manufacturers, and increasing demand for functional ingredients. However, the Asia-Pacific animal protein ingredients market is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of this market include the increasing purchasing power of the middle-class population, expanding infant nutrition industry due to decreasing breastfeeding rate, growing foreign investment, and increasing demand for western dairy products, such as yogurt, fermented milk, and artisan dairy products.
The key players profiled in the global animal protein ingredients market are Kerry Group (Ireland), Arla Foods amba (Denmark), Fonterra Co-Operative Group Limited (New Zealand), Royal FrieslandCampina N.V. (The Netherlands), Saputo Inc (Canada), Sodilaal International (France), Lactalis Group (France), AMCO Proteins (U.S.), Glanbia plc (Ireland), Hilmar Ingredients (U.S.), Cargill, Incorporated (U.S.), Kewpie Corporation (Japan), Savencia SA (France), and Agropur Cooperative (Canada).
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