June 15, 2020
As per the report titled ‘Global Feed Fats and Proteins Market Size study, by Source (Animal, Plant and Other Source), by Livestock (Ruminants, Poultry, Aqua, Swine, Equine and Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global feed fats and proteins market was worth USD 7965.49 million in 2018 and is projected to record a y-o-y growth rate of 5.2% over 2019-2026.
Increasing demand for milk and milk products coupled with escalating consumption of animal meat among the consumers are driving the growth of global feed fats and proteins market. These additives aid in maintaining the nutritional level of the feed. Feed fats and proteins impart higher nutrition with lesser feed quantity, leading to increased production of high-quality meat, diary, and other livestock products. These fats & proteins are mixed with the feed in minimal amount to ensure the healthy growth of livestock.
Although global feed fats and proteins industry will witness a continuous demand from cultivators and farmers to ensure food security of the growing population, but rising environmental concerns and outbreak of diseases in livestock may impede the industry growth over the forecast period.
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Based on the source, the industry is classified into animal, plant, and others. Elaborating on the livestock spectrum, the market is categorized into poultry, swine, ruminants, aqua, equine, and others.
As per the regional analysis, global feed fats and proteins market is divided into North America, Asia Pacific, Europe, Latin America, and Rest of the World. North America currently accounts for significant market share. Milk production in United States increased from 94.64 million tons in 2015 to 97.76 million tons in 2017, claims the report. Steady increase in milk production and high consumption of meat in the region is supporting the North America market outlook.
On the other hand, Asia Pacific feed fats & proteins market is slated to expand at a rapid pace through 2026, attributable to higher consumption of milk and milk products in the region. For instance, according to National Diary Development Board (India), milk production saw a significant rise from 165.4 million tons in 2017 to 176.3 million tons in 2018.
Some of the renowned industry players include Agrana Beteiligungs-AG, Lansing Trade Group LLC, Euroduna Rohstoffe GmbH, Bunge Ltd., AarhusKarlshamn AB, Roquette Freres, Omega Protein Corporation, The Scoular Company, Darling International Inc., and Archer Daniels Midland (ADM) Company.