Animal Feed Protein Ingredients Market Size
Animal Feed Protein Ingredients Market size surpassed USD 234 billion in 2022 and is estimated to expand at 5.5% CAGR from 2023 to 2032, driven by the increasing industrial livestock production.
To get key market trends
Growing population and fast urbanization are hastening migration, which is driving a great demand for premium animal-derived food goods including meat, milk, and eggs, so enhancing livestock farming. Moreover, certain EU Members States—including Denmark, Italy, and Spain—are especially specialized in animal farming. Notably, in Europe, in 2021 there were 71 million sheep and goats, 76 million bovine animals, and 142 million pigs.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Animal Feed Protein Ingredients Market Size in 2022 | USD 234 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.9% |
| 2032 Value Projection | USD 555 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 550 |
| Tables, Charts & Figures | 702 |
| Segments covered | Product, Livestock, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Strict feed regulation compliances may hamper industry development
The growing consumption of meat and meat products has led to the implementation of strict regulatory requirements to maintain animal and human safety, so affecting the animal feed protein ingredient market by means of rigorous regulatory compliances for producers and distributors. Governments are intervening, though, to aid by lowering compliance with these rules and implementing many favorable policies as they realize the value of the cattle and poultry sectors in maximizing farming revenues.
Animal Feed Protein Ingredients Market Analysis
Learn more about the key segments shaping this market
By product, the animal feed protein ingredients market from the oilseed meals segment is projected to reach USD 475 billion in revenue by 2032, impelled by rising customer preference for plant-based protein ingredients. Moreover, businesses are taking efforts to commercialize in the thriving market and attract new customers, which is set to accelerate the industry growth. For instance, in April 2022, food company Bunge collaborated with startup CoverCress Inc. ("CCI") to launch a novel renewable oilseed & animal feed crop that is ideal as a lower carbon intensity feedstock to address the mounting biofuel demand.
Under oilseed meals, the animal feed protein ingredients market from soymeal sub-segment is slated to depict over 9.5% CAGR through 2032, backed by the growing inclination towards genetically modified (GM) crops due to high yields and improved quality for livestock and fish feeds. In May 2022, the Indian government approved the import of around 0.55 million tons of GM soymeal. Furthermore, as soybean harvesting is concentrated in some regions, particularly those with uncertain weather conditions, key countries such as China are focusing on improving their domestic yields to reduce their reliance on imports.
According to the report, the Asia Pacific animal feed protein ingredients market is forecast to exceed a valuation of USD 228 billion by 2032, owing to the high regional population, rising incomes, and changing diets, which are propelling livestock production. To cite an instance, the Indian government is promoting the livestock and poultry sectors’ expansion through several favorable policies to raise farmers' earnings and increase off-farm employment. Similarly, in December 2022, the Asian Development Bank approved a $62.9 million package to assist Cambodia in strengthening its food security and promoting inclusive economic growth by boosting animal healthcare and value chains.
Learn more about the key segments shaping this market
Regarding livestock, during the forecast period the animal feed protein ingredients market from the poultry category would show significant expansion at more than 9.5% CAGR. Particularly in developing and underdeveloped countries with limited production options, poultry has been the most consumed livestock product worldwide over the past two decades. While the United States, Brazil, EU, and Thailand have become well-known poultry exporters helping to meet the growing demand for protein-rich animal feed and driving market profitability, many nations have raised domestic chicken production to satisfy expanding demand.
Under livestock, by 2032 the broiler sub-segment is predicted to cross USD 165 billion. Since broiler production has a shorter production life cycle and requires less capital investment than other meat-producing animals, it is increasing profitability and helping commercial broiler farming to be more globally spread. The great demand for protein among broilers to enhance performance and output is probably going to help to expand the market greatly.
Animal Feed Protein Ingredients Market Share
Several prominent enterprises engaged in the animal feed protein ingredients market are
- Nutraferma LLC
- CJ Selecta
- Green Labs LLC
- GRF Ingredients
- Janatha Fish Meal & Oil Products
- Alltech
- Vetbiochem Group
- Nutrifish
- Fenchem
- Sotexpro
- ATA Foods
- Haarslev Processing Technology
The market is speculated to witness innovative product developments and product range expansions by companies. In August 2021, Hamlet Protein introduced HP FiberBoost, a pure fiber product made with beneficial fibers, specifically for dietetic use in pigs, which provides food producers another option when developing diets without zinc oxide.
Impact of COVID-19 pandemic
The coronavirus epidemic seriously affected the animal feed protein ingredients sector, even with the very constant demand for animal feed. Tight lockdowns and transportation restrictions impacted the animal feed supply chain, less availability of animal husbandry-related services, and limited access to marketplaces and consumers. Rising COVID-19 numbers in China, a major supplier of organic soybeans, interfered with global organic feed production. But since the government instituted lockdowns, many farmers started panic-buying animal feed, which became profitable for the market throughout the epidemic.
For the following sectors, this animal feed protein ingredients market research report offers in-depth coverage together with estimations and forecasts in terms of volume in million tons and revenue in USD million from 2018 to 2032
Click here to Buy Section of this Report
Market, By Product
- Oilseed meals
- Soymeal
- Rapeseed Meal
- Sunflower meal
- Copra Palm
- Cottonseed meal
- Other oilseed meals
- Fishmeal
- ABP Proteins
- Meat & Bone meal
- Feather meal
- Blood meal
- Poultry meal
- Meat Meal
Market, By Livestock
- Poultry
- Broiler
- Layer
- Turkey
- Others
- Swine
- Starter
- Grower
- Sow
- Cattle
- Dairy
- Calf
- Others
- Aquaculture
- Salmon
- Trout
- Shrimp
- Carp
- Yellow Catfish
- Snakehead
- Seabass
- Pomfret
- Herring
- Eel
- Turtle
- Crab
- Others
- Petfood
- Dogs
- Cats
- Birds
- Fish
- Equine
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Russia
- UK
- Netherlands
- Belgium
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Thailand
- LATAM
- Brazil
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Qatar
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy