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Animal Derivatives Market: What is the Projected CAGR for 2024-2033?

The size of the animal derivatives market has seen robust growth in the recent past. From $11.85 billion in 2023, the market is projected to expand to $12.66 billion in 2024, marking a compound annual growth rate (CAGR) of 6.9%. The remarkable growth during the historic period can be credited to its conventional utilization in the food industry, growth in world’s population, increase in disposable income, cultural and dietary tendencies, and the demand for nutritional content and protein.

Strong growth is anticipated in the animal derivatives market in the approaching years, with the market size forecasted to reach $16.04 billion in 2028, achieving a compound annual growth rate (CAGR) of 6.1%. The anticipated growth during this time frame can be ascribed to factors like ongoing population rise, escalating urbanization and westernization, growing middle-class consumers, a focus on health and wellness, and a diversified range of product offerings. Crucial trends for this forecasted period encompass the adoption of plant-based alternatives, advancements in processing technologies, functional food integrations, worldwide regulatory progress, and the evolution of e-commerce and direct-to-consumer models.

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What Are the Primary Drivers Supporting the Growth of the animal derivatives Market?

The rise in spending on pet nutrition is anticipated to stimulate the expansion of the animal by-products market. Pet food, which is specially created and produced to meet the dietary requirements of tamed animals, often contains animal by-products as a vital source of protein and other essentials. For example, the American Pet Products Association (APPA), a non-profit industry association based in the US, reported in March 2023 that pet food expenditure in the US grew by 16.2% in 2022, reaching $58.1 billion, compared to the previous year. Consequently, the surge in pet food expenditure bolsters the demand for animal derivatives.

What Are the Core Segments of the Animal Derivatives Market?

1) By Type: Immunoglobulin, Serum Albumin, Fibrinogen, Other Types

2) By Animal Type: Ovine, Bovine

3) By Application: Food And Beverages, Pharmaceutical Industry, Cosmetic Industry, Pet Food Industry, Others Applications

What Trends Are Paving the Way for Change in the Animal Derivatives Market?

In the animal derivatives market, a prominent trend is product innovation. To solidify their market position, key players are developing unique products such as PureeX®. For example, in April 2023, Protix, a Dutch firm that manufactures ingredients for food supplements, introduced its PureeX insect meat. This product, derived directly from insects, serves as a highly nutritional and appealing ingredient for pet food. It also boasts of a minimal carbon footprint, high antioxidant content, and antimicrobial activity.

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Which Regions Are Leading the Charge in Animal Derivatives Market Development?

North America was the largest region in the animal derivatives market in 2023. The regions covered in the animal derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Animal Derivatives Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the animal derivatives market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Animal Derivatives Market Include

1. Animal Derivatives Market Executive Summary

2. Animal Derivatives Market Segments

3. Animal Derivatives Market Size And Template Market Growth Rate

4. Key Animal Derivatives Market Trends

5. Major Animal Derivatives Market Drivers

……

25. Key Mergers And Acquisitions In The Animal Derivatives Market

26. Top Animal Derivatives Companies

27. Animal Derivatives Market Opportunities And Strategies

28. Animal Derivatives Market, Conclusions And Recommendations

29. Appendix

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