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At What Rate is the Animal Feed Protein Market Predicted to Expand Between 2024 and 2033?

The market size for animal feed protein has experienced significant growth in the past few years. The rise from $286.91 billion in 2023 to $301.67 billion in 2024, with a compound annual growth rate (CAGR) of 5.1%, serves as evidence of this growth. An increase in demand for animal-related products, population surge, and urbanization, the escalation of livestock farming, dietary needs of livestock, and worldwide expansion of the livestock industry have all contributed towards the growth recorded in the historical period.

There is an anticipation for robust expansion in the animal feed protein market in the coming years, with its size predicted to elevate to $372.95 billion by 2028, growing at a compound annual growth rate (CAGR) of 5.4%. The growth expected throughout this period is due to increasing recognition of sustainable dietary practices, transition towards plant-based proteins, regulatory focus on the health of livestock, advancements in feed formulation technology, and an emphasis on the circular economy. The forecast period is expected to highlight sustainable and ethical sourcing trends, adoption of biotech innovations in protein production, a shift towards alternative protein ingredients, specialized protein mixtures for various livestock varieties, and the application of CRISPR technology for protein optimisation.

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What Forces Are Boosting the animal feed protein Market’s Growth?

An upward trend in the consumption of meat products is projected to augment the animal feed protein industry’s growth. Meat, which is derived through the processing of animals such as livestock, fuels the demand for animal feed protein. This feed protein, known for its exceptional protein quality, is used to supplement the protein intake of animals. This enhances their muscle growth and ensures they receive a wholesome diet that not only improves their overall health but also enhances the quality of by-products like meat, milk, and eggs. As per the Agricultural Outlook 2022-2031 report by a US-based intergovernmental organization in July 2022, global meat production witnessed a 5% growth in 2021, totaling an estimated 339 million metric tons – the driving factor for this substantial growth was a major 34% increase in pig meat production in China. Additionally, a study by The Culinary Institute of America, an eminent private institution in the US specializing in food and wine education, published in February 2021, revealed that the protein consumption of the average adult male American was 75% above necessary levels, while the typical adult female American’s diet comprised 50% more protein than required, with a significant portion coming from foods like meat, fish, poultry, eggs, and dairy. Consequently, the rising demand for meat products is fueling the growth of the animal feed protein market.

What Key Segments Make Up the Animal Feed Protein Market?

1) By Product: Plant Protein, Animal Protein, Alternative Protein

2) By Livestock: Poultry, Swine, Cattle, Aquaculture, Petfood, Equine

3) By Form: Dry, Liquid

What Are the Latest Trends Impacting the Animal Feed Protein Market?

A significant trend emerging in the animal feed protein market involves product innovation. Major players in this industry are aiming at creating innovative solutions to cement their market presence. For instance, German multinational chemical firm, BASF SE. launched its enzyme product, Natupulse, for animal feed in December 2021. This product enhances feed digestibility, positively impacting the animal. Moreover, it lowers the digesta viscosity in diets with varying feed compositions. Natupulse optimizes feeding costs and promotes the eco-friendly production of animal protein. It is a protein-based molecule that heightens nutrient utilization in feed.

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What Regions Are Dominating the Animal Feed Protein Market Growth?

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

The Animal Feed Protein 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 feed protein market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Animal Feed Protein Market Include

1. Animal Feed Protein Market Executive Summary

2. Animal Feed Protein Market Segments

3. Animal Feed Protein Market Size And Template Market Growth Rate

4. Key Animal Feed Protein Market Trends

5. Major Animal Feed Protein Market Drivers

……

25. Key Mergers And Acquisitions In The Animal Feed Protein Market

26. Top Animal Feed Protein Companies

27. Animal Feed Protein Market Opportunities And Strategies

28. Animal Feed Protein Market, Conclusions And Recommendations

29. Appendix

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