Global Animal Protein Market

Animal Protein Market Size, Share, Growth Analysis, By Type(Egg Protein, Milk Protein Concentrates/Isolates), By Application(Dietary nutrition, functional nutrients) - Industry Forecast 2024-2031

Report ID: SQSG30I2049 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 68 | Figures: 75

Animal Protein Market Dynamics

Animal Protein Market Driver

  • Rising prevalence of chronic illnesses to drive demand for animal protein

The increased prevalence of chronic illnesses as a result of changing lifestyles, particularly among the millennial generation, is one of the primary drivers driving the adoption of protein-rich diets, which is expected to boost demand for animal protein throughout the forecast period. Consumption of high protein-based diets and a growing consumer focus on fitness are expected to stimulate demand for egg proteins for sports nutrition applications. Furthermore, the presence of selenium, zinc, and vitamins B2, D, and B6 in eggs is likely to contribute to market growth during the forecast period.

Animal Protein Market Challenge

  • Rise in demand for vegan plant-based proteins is anticipated to affect the global animal protein market

The growing number of vegan and lactose-intolerant customers turning to plant-based supplements is expected to stymie the growth of the animal protein market.

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Animal Protein Market size was valued at USD 44.08 billion in 2019 and is poised to grow from USD 46.59 billion in 2023 to USD 76.73 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

The animal protein is highly fragmented and competitive, with both publicly and privately held market competitors relying on innovation to remain competitive. Public companies in the industry are aggressive in developing methods to increase product adoption in the worldwide market. 'JBS S.A.', 'Tyson Foods, Inc.', 'Cargill, Incorporated', 'Smithfield Foods, Inc.', 'WH Group Limited', 'BRF S.A.', 'Marfrig Foods S.A.', 'Hormel Foods Corporation', 'NH Foods Ltd.', 'Tyson Fresh Meats, Inc.', 'Danish Crown A/S', 'Vion Food Group', 'Itoham Yonekyu Holdings Inc.', 'Perdue Farms, Inc.', 'Nippon Meat Packers, Inc.', 'Charoen Pokphand Foods Public Company Limited', 'OSI Group LLC', 'Sanderson Farms, Inc.', 'Pilgrim's Pride Corporation', 'Koch Foods, Inc.'

Rising prevalence of chronic illnesses to drive demand for animal protein

Food and beverage emerged as the largest end-user segment of animal protein. The market has benefited greatly from the rising demand for high-end, premium food goods. Organic, sustainable, grass-fed, and other similar claims are increasing appeal among customers, prompting businesses to develop appropriate offers. As a result, companies like Arla, Milk Specialties Global, and Kruger have been seen growing their clean-label animal protein production for the food and beverage industry. Furthermore, the segment is expected to grow at a substantial volume CAGR of 3.28% over the projection period.

North America is expected to hold a substantial market position in the animal protein market due to its well-established food sector and the availability of innovative technology for the processing and production of protein ingredients. The growing popularity of protein-centric diets among consumers is predicted to raise demand for animal protein to meet the Recommended Dietary Allowances (RDAs) of protein consumption. Europe is expected to rise rapidly due to rising demand for functional food and beverages in the region. The rising consumer demand for protein-rich foods is likely to boost market growth. Animal proteins are also widely employed in a variety of processed foods to improve flavor, texture, and stability.

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Global Animal Protein Market

Product ID: SQSG30I2049