Animal Feed Protein Ingredients Market

Global Animal Feed Protein Ingredients Market Size (2024 to 2032)

As per our analysis report, the global Animal Feed Protein Ingredients Market is expected to reach USD 374.19 Billion by 2032 from USD 244.75 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.45% during the forecast timeline. The oilseed meals segment is expected to have significant growth in the market and a higher revenue share in the category owing to a rise in customer preference for plant-based protein ingredients. The Asia-Pacific region is expected to witness a high share in the market in terms of revenue owing to the high population, increasing income, and changing consumer diet preferences are contributing to higher livestock production.

MARKET DRIVERS

The increasing livestock population, rising production of fish meal, and increasing demand for meat-based products are expected to drive the animal feed protein ingredients market during the forecast period, where protein-rich feed plays an important role.

The increase in consumer concern about the quality of meat and the growing demand for animal protein among the consumer population are a few other factors that are fostering market growth. The overall growth of the market is anticipated to accelerate with the rising use of the coloring agent, along with the growth in demand for herbal cosmetics products, coupled with the rising usage of turmeric in cosmetic products. The increased awareness about animal nutrition requirements leads to an increased demand for high-quality ingredients, boosting the innovations in plant-based alternatives like Soybean meal and pea protein. 

Additionally, the growing consumer awareness about the quality of meat will generate various profitable opportunities for the animal feed protein ingredients market. The booming pet food industry also drives the demand for protein sources for customized and specialized diets. The increased urbanization, disposable income, and focus on animal health by growers are propelling the market growth rate. 

MARKET RESTRAINTS

Despite the market growth driving factors, there are certain other factors that are expected to restrict the growth and expansion of the animal feed protein ingredients market, including the stringent feed regulatory compliances and policies, shortage of workers, increase in the cost of production, and lack of working capital. The outbreak of the COVID-19 pandemic has posed a major challenge to the market growth rate. The price volatility and supply chain disruptions in sourcing the fishmeal and Soymeal have created uncertainty for producers. The rise in concern over sustainability and deforestation resulted in the implementation of strict regulations. Additionally, the competition from alternate protein sources for human consumption is hindering the availability and affordability of feed-graded protein ingredients. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Animal Feed Protein Ingredients Market Analysis By Product

The oilseed meals segment is expected to have significant growth in the animal feed protein ingredients market during the forecast period and a higher revenue share in the category. The rise in the customer preference for plant-based protein ingredients is propelling market growth. The market players are also focusing on commercializing the flourishing market and attracting new customers to increase market growth. Certain companies are focusing on the launch of new products through collaborations to address customer requirements. The Soymeal sub-segment in the oilseed is expected to see a higher CAGR growth in the market owing to the growing demand for genetically modified crops (GMO) because of their higher yields and improved quality for livestock and fish feeds. The government is also in favor of the GM crops imported in Soymeal. As the production of Soymeal is concentrated in some regions, which may result in import fluctuations in case of uncertainties, countries are focusing on improving the domestic yields to reduce dependency on imports.

Global Animal Feed Protein Ingredients Market Analysis By Livestock

The poultry segment is expected to have a significant growth rate in the animal feed protein ingredients market during the forecast timeline. Among the livestock products, mostly in developing and emerging countries, there is a huge consumption of poultry owing to the limited production possibilities in those areas. Many nations are focusing on improving the domestic production capacity to meet the rising demand, while some few nations like the U.S., Brazil, EU, and Thailand are the most prominent exporters of poultry and are contributing to the increasing demand for protein-rich animal feed. The broiler sub-segment is expected to witness significant growth in the livestock segment. The lower capital requirement and shorter production life cycle of the broilers than other meat-producing animals are expected to foster profitability and facilitate the expansion of broiler farming. The higher requirement of protein among broilers to improve performance and growth will likely propel the expansion of the animal feed protein ingredients market across the world.

Global Animal Feed Protein Ingredients Market Analysis By Source

The plant-based protein source segment is expected to have significant growth in the animal feed protein ingredients market. Soybean is the most used crop for the production of animal feed protein ingredients, and there has been an increase in the demand for protein ingredients in the past few years. Consumers prefer natural ingredients that are non-allergic and functional ingredients that are alternatives to synthetic ingredients, as consumers consume products made from these animals. So, the preference of the consumers in purchasing animal feed manufactured with the help of plant-based ingredients is ensured to be natural and safe for consumption.

REGIONAL ANALYSIS

Asia-Pacific region is expected to witness a high share in the animal feed protein ingredients market in terms of revenue during the forecast period. The high population, increasing income, and changing consumer diet preferences are contributing to higher livestock production. The Indian government also promotes the livestock and poultry sector expansion through several campaigns and policies to create awareness and increase farmers' earnings through off-farm employment. The Asian Development Bank has approved the USD 32.9 million package to assist Cambodia in strengthening food security and promoting economic growth by aiding animal healthcare and value chains.

Europe is anticipated to achieve a notable share in the animal feed protein ingredients market during the forecast period owing to the rise in innovation, the presence of a significant number of animal feed protein ingredient manufacturers, and the rising number of consumers preferring a healthy diet. The rise in the livestock population and production is contributing to the market growth in Europe. The market is dominated by key factors, including rising concerns about quality and increasing meat consumption in Europe.

KEY PLAYERS IN THE GLOBAL ANIMAL FEED PROTEIN INGREDIENTS MARKET

Companies playing a significant role in the global animal feed protein ingredients market are Nutraferma LLC, CJ Selecta, GRF Ingredients, Nutrifish, Fenchem, Vetbiochem Group, Green Labs LLC, Janatha Fish Meal & Oil Products, ATA Foods, Haarslev Processing Technology, Sotexpro; Alltech, Hamlet Protein, Cargill Incorporated, Tyson Foods, Inc, ADM, Evershining Ingredients Co., Ltd.

RECENT HAPPENINGS IN THE MARKET

• In 2022, to introduce new, healthy, novel ingredients for aquafarmers, Cargill and Innovafeed are partnering together by extending the time period from three years to 10 years. This partnership has aided in creating and developing insect meals to market to aquafeed customers. They developed the most sustainable seafood. The global animal nutrition capability of Cargill has been enhanced with the partnership, as well as strengthening the insect ingredients in numerous types of animal feed.
• In 2021, HP FiberBoost, which is an ideal functional fiber for pig microbiome, was introduced by the Hamlet Protein, which is made with pure fiber and has beneficial fibers that are mostly useful for dietetic use in pigs; it provides another food product choice when developing diets without zinc oxide. 

DETAILED SEGMENTATION OF THE GLOBAL ANIMAL FEED PROTEIN INGREDIENTS MARKET INCLUDED IN THIS REPORT

This research report on the global animal feed protein ingredients market has been segmented and sub-segmented based on product, livestock, source, and region.

By Product

• Oilseed meals (Soymeal, Rapeseed meal, Sunflower meal, Cottonseed meal, other oilseed meal)
• Fish Meal
• ABO Proteins (Meat & Bone meal, Blood meal, poultry meal)

By Livestock

• Poultry (Broiler, Layer, Turkey, Others)
• Swine (Starter, Grower, Sow)
• Cattle (Dairy, Calf, Others)
• Aquaculture (Salmon, Shrimp, Pomfret, Seabass, Eel, Carp, Others)
• Pet food (Dogs, Cats, Birds, Fish)
• Equine
• Others

By Source

• Animal
• Plant

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa