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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