May 25, 2020
As per the report titled ‘Animal Feed Protein Ingredients Market Size By Product, By Livestock, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global animal feed protein ingredients market is expected to display significant growth over 2020-2026.
Increasing production of livestock, poultry and dairy, owing to surging demand for high quality meat and dairy products, rising disposable income, and nutritive value of protein ingredients are driving the growth of global animal feed protein ingredients market.
With respect to product, sunflower oilseed meal segment accounted for 5% market share in 2019 and is expected to see modest growth during the forecast period. Growing inclination towards plant-based protein ingredients and increasing product use for the purpose of feeding ruminants is stimulating the segment growth, cites the report.
Meanwhile, copra palm oilseed meal segment is slated to expand at 3.5% CAGR through 2026. The growth can be attributed to abundance of copra meal as a locally available feed proteins in tropic areas including Central America, some South East Asian countries, and few African countries.
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Elaborating on animal by-products meals segment, feather meal held 25% market share in 2019 and is projected to display strong growth in the coming years, as it the most important animal by-product due to its high protein content. Advancements in existing processing methods have improved the digestibility factor of feather meals for non-ruminant animals and accessibility of hydrolysed feather meal, thereby enhancing the segment growth.
Based on the livestock, cattle segment is further split into dairy, calf, and others. Calf segment garnered over 9.5% market share in 2019 and is anticipated to see modest growth during the study period due to the rising milk demand globally. Whereas, aquaculture segment is set to exhibit 5% CAGR, driven by increasing fish consumption globally. Pet food registered 2.5% market share in 2019 and is slated to see decent traction in the coming future owing to the upsurge in adoption of pets.
From a regional standpoint, North America animal feed protein ingredients market is estimated to register a CAGR of over 3% throughout the assessment period. Escalating consumption of non-vegetarian food products is supporting the regional market growth.
Prominent industry players include E.I. Du Pont De Nemours and Company, Hamlet Protein A/S, Archer Daniels Midland (ADM), Burcon NutraScience Corporation, CHS, CropEnergies AG, Nutraferma LLC, CJ Cheiljedang Corporation, Evershining Ingredients Company, CJ Selecta, Imcopa Food Ingredients B.V., Sojaprotein, Calysta, Inc., Koninklijke DSM N.V., A Constantino, and GRF Ingredients among others.