Animal Protein Ingredients Market Growth and Forecast to 2024
Posted by shanigaram karthik on August 9th, 2019
Proteins extracted from different sources have become a necessity in the food and pharmaceutical market. There are different sources from which proteins are extracted- plants, animals, eggs, and microbes. The animal protein ingredients include bone meal, blood meal, fish meal, feather meal, etc. They are generally derived from animal by-products. The products like hydrolase collagen and fish oil are very much dependent on the animal protein ingredients market. The animals are a much richer source of proteins and therefore, the animal protein ingredients market lever a benefit and growth over its parallel industry, that is, plant-based proteins. The world animal protein ingredients market was valued USD xx billion in 2018 and expected to be growing at a CAGR of xx%, to reach USD xx billion by 2023.
Market drivers and restraints:
The animal protein ingredients are mainly employed for consumption and it is found that both animals and humans show better digestibility than other protein derived from other sources such as plants and microbes. This is a benefit for the animal protein ingredients market over proteins manufactured from other sources. The evident growth for the animal protein ingredients market is calculated by the growing meat market since a large share of the animal-based proteins is obtained from the animal by-products from the slaughterhouse industry.
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Report segmented as:
The regional segmentation is led by Europe in terms of consumption, whereas Asia Pacific is the fastest growing market, with a large share of the global market of animal protein components followed by North America, and the predictive growth is estimated to be good over the forecast period. Latin America exports a huge proportion of protein rich livestock feed, indicating growth on the market in animal protein ingredients in this region.
Important market players:
Major players operating in the global animal protein ingredients market are Novozymes, Bovogen biologicals Pty. Ltd., Omega Protein Corporation, Valley Proteins, Inc., Gelita AG, BHJ A/S, and Sonac.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorshanigaram karthik
Joined: June 19th, 2019
Articles Posted: 71
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