Top 5 Insights From The Animal Derivatives Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
According to The Business Research Company’s Animal Derivatives Global Market Report 2023, the animal derivatives market is expected to show promising growth in the forecast period.
In this blog, we’ll delve into the dynamic world of the Animal Derivatives Market, focusing on its size, expected growth, and the driving forces behind its expansion. We’ll also investigate the role of increased spending on pet foods and the impact of product innovations. With major players and market segmentation, the Animal Derivatives Market offers a compelling narrative of growth and innovation.
Market Size and Growth
- 2022 Market Size
- The global animal derivatives market was valued at $11.06 billion in 2022.
- Projections for 2023
- Anticipations suggest that the market will grow to $11.85 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 7.1%.
- Glimpse into 2027
- Further predictions indicate that the animal derivatives market is on course to reach $15.03 billion by 2027 at a CAGR of 6.1%.
Pet Food Spending
- Fueling Growth Through Pet Food
- Increased spending on pet foods is a key driving force behind the growth of the animal derivatives market.
- Role of Animal Derivatives
- Animal derivatives, rich in proteins and nutrients, play a crucial role in pet food formulations.
- The American Pet Products Association (APPA)
- In March 2023, the APPA reported that spending on pet foods in the US surged by 16.2% in 2022, reaching $58.1 billion compared to 2021.
Major Players in the Animal Derivatives Market
- Prominent Market Players
- Leading companies in the animal derivatives market include ANZCO Foods Ltd., Rocky Mountain Biologicals Inc., and many more.
- Embracing Innovation
- These players actively engage in product innovations to maintain their market positions.
- Protix’s Breakthrough
- For example, Protix, a Netherlands-based manufacturer of ingredients for food supplements, introduced PureeX® insect meat in April 2023. This innovative product, derived from insects, is a highly nutritious and appealing ingredient for pet foods. It offers a low carbon footprint, high antioxidant levels, and antimicrobial properties.
Animal Derivatives Market Segmentation
- Segmenting the Animal Derivatives Market
- The global animal derivatives market is categorized based on type, animal type, and application.
- Types of Animal Derivatives
- Animal derivatives include immunoglobulin, serum albumin, fibrinogen, and more.
- Varieties of Animal Types
- The market encompasses animal derivatives from ovine and bovine sources.
- Diverse Applications
- Animal derivatives find applications in food and beverages, the pharmaceutical industry, the cosmetic industry, the pet food industry, and other sectors.
- Leading in North America
- In 2022, North America stood out as the largest region in the animal derivatives market, reflecting its strong presence in this industry.
View More On The Animal Derivatives Market Report 2023 – https://www.thebusinessresearchcompany.com/report/animal-derivatives-global-market-report
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The Animal Derivatives Global Market Report 2023 offers a comprehensive overview on the animal derivatives market size, growth rate, trends and drivers, opportunities, strategies, and competitor landscape. The countries covered in the animal derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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 Animal Derivatives 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
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