Feed Plant-Based Protein - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Feed Plant-Based Protein Market is accounted for $2.50 billion in 2020 and is expected to reach $4.73 billion by 2028 growing at a CAGR of 8.3% during the forecast period. Pet owners’ inclination toward organic pet food ingredients, increase in demand for plant-based pet food due to a rise in awareness among pet owners, and innovative animal husbandry techniques to improve meat quality are the factors driving the market growth. However, stringent regulatory framework restrains international trade is hampering the growth of the market.
Feed plant-based protein is obtained by various grains and pulses. The requirement of protein for animals is necessary as they are incapable of producing the proteins themselves which are polymer of amino acid and therefore these proteins are given through food. Plant proteins are highly nutritious not only as good sources of protein, but also because they provide other nutrients such as vitamins, fibre, and minerals. Feed plant-based proteins are ideal for pet food and animal feed where protein quality and nutritional value is important.
Based on the source, the soy segment is going to have lucrative growth during the forecast period as soy protein products are used in feed and pet food to increase water and fat retention and improve nutritional values in pet animals. Soy is used as a substitute for traditional chemical-based feed ingredients as soy proteins have rapid resolvable and excellent suspension properties. Moreover, soy concentrates consist of approximately 70% protein and are highly digestible with low antigenicity and due to these factors, soy protein is estimated to account for most of the share in the feed plant-based protein market.
By geography, Asia Pacific is going to have high growth during the forecast period as the region's market is majorly driven by an increase in the demand and consumption of livestock-based products. A rise in feed production and the implementation of innovative animal husbandry practices to improve the meat quality and output of other livestock-based products are majorly in practice in this region. The increasing awareness about livestock nutrition and healthy diet, and the rise in consumption of meat & other livestock-based products have led to an increase in the size of the feed plant-based protein market in the Asia Pacific region.
Some of the key players profiled in the Feed Plant-Based Protein Market include DuPont, Kerry Group, Ingredion Incorporated, Emsland Group, AGRANA, Batory Foods, Roquette Frères, Scoular Company, Vestkorn, FoodChem International, Bioscience Food Solutions GmbH, AGT Food and Ingredients Inc. and Aminola.
• Other Types
• Aquatic Animals
• Other Sources
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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