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Report Overview
The global feed protein market size was approximately USD 66.64 billion in 2023. The market is further projected to grow at a CAGR of 8.4% between 2024 and 2032 to attain a value of USD 137.35 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Feed Protein Market Size
The global feed protein market size was approximately USD 66.64 billion in 2023. The market is further projected to grow at a CAGR of 8.4% between 2024 and 2032 to attain a value of USD 137.35 billion by 2032.
Key Takeaways
- According to the Food and Agriculture Organisation (FAO), poultry meat is predicted to account for 41% of all protein derived from meat sources globally in 2030.
- In 2022, pork accounted for the largest share of meat consumption globally with 112.54 MMT of pork consumed.
- According to the OECD-FAO Agricultural Outlook, the global meat supply is projected to reach 374 Mt by 2030.
Meat is the main source of protein in developed markets and is witnessing a growing market in developing countries, especially in Asia and Africa, owing to a rise in disposable income. This aids the demand for feed protein in swine and poultry farming. According to the Organisation for Economic Co-operation and Development (OECD) Food and Agriculture Organization (FAO) Agricultural Outlook 2021-2030, poultry meat is anticipated to represent 41% of all the protein from meat sources in 2030, globally. The swift expansion of the population, along with rising awareness of health, play a role in the worldwide surge in the consumption of seafood products and the demand for feed protein to sustain aquatic life.
Some of the factors driving the feed protein market growth are the growing focus on optimal nutrition of livestock, the growing demand for meat and dairy, and the trend of pet humanisation.
Feed Protein Market Report Snapshots
Feed Protein Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 66.64 billion.
The feed protein market is assessed to grow at a CAGR of 8.4% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 137.35 billion by 2032.
Protein is an essential nutrient to ensure the productivity of farm animals. Feed proteins are crucial requirements in feed rations as they provide substantial levels of protein and essential amino acids.
Soybean meal, a by-product of oil extraction, has a high crude protein content of 44-50% and a balanced amino acid composition.
Major market drivers are increasing consumption of meat and dairy products and rise in demand for animal feed with added benefits.
The key trends of the market include growing health awareness, growing focus on optimal animal health, and the robust growth of the aquaculture sector.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different applications of the product are poultry, swine, cattle, aquatic, pet food, and others.
The key market players, according to the report, are Roquette Frères, Kerry Group plc, AGRANA Beteiligungs-AG, Royal Avebe, Ingredion Corporation, CropEnergies AG, EW Nutrition, Emsland Group, Nuproxa Switzerland Ltd., Schils BV, and AMINOLA BV, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124