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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 Trends
Consumers in developing countries in Asia and Africa are witnessing an increase in their population and disposable incomes. Further, people are focussing on consuming healthier foods and incorporating animal protein products, like meat and eggs into their diets. Diverse plant-based protein sources for animal-feed proteins aid the manufacturing of nutritious animal feed. For instance, animal-feed protein can be obtained from a variety of plant sources, including soybean, pea, cereals, pulses, and rapeseed, all of which have excellent nutritional value that is crucial for the health and immunity of animals.
As per the feed protein market report, the trend of pet humanisation is aiding the demand for soy protein concentrate (SPC) in pet foods. Owners seek high-quality and nutritious foods for their pets. This aids the market for SPC which is a rich source of crude protein to produce dry extruded, semi-moist, or canned foods for pets. SPC also improves the texture and palatability of pet food.
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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