REDDING, Calif., April 8, 2021 /PRNewswire/ -- According to a new market research report titled "Animal Protein Ingredients Market by Type (Dairy Protein (Milk Protein, Whey Protein, Casein Protein), Egg Protein, Gelatin) and Application (Food and Beverages, Animal Feed, Nutritional Supplements, Pharmaceuticals) -Global Forecast to 2027", the animal protein ingredients market is expected to grow at a CAGR of 6.1% from 2020 to 2027 to reach $46.04 billion by 2027.
Animal protein ingredients are extracted majorly from dairy to placate nutritional, organoleptic, and functional needs. Initially, dairy ingredients were produced as stabilizing milk components (proteins and fat). However, the development in consumer spending has resulted in an increased demand for animal protein ingredients. Animal protein ingredients are highly valued in the food industry and are considered essential ingredients for industrial and functional application. The growing consumer concerns about health and the perception that diet directly affects health are sharply propelling nutritional food demand.
The healthy eating trend is gaining traction and evoking the population's interest, which is significantly driving the development of healthy food formulation. Moreover, the increased urbanization has led to high disposable income and demand for high-quality dairy products, which has stimulated the infrastructure of cold chains, transportation facilities, and R&D centers that further support the quality, innovation, and shelf life of animal-based ingredients.
The animal protein ingredients market is mainly segmented based on type, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Covid-19 Impact on the Animal Protein Ingredients Market
The COVID-19 pandemic has been a significant disruptor in 2020, causing the attention to shift animal-based product supply and food security across the globe. The COVID-19 affected the animal protein ingredients sector in three main ways: by directly affecting production and demand, disrupting the supply chain, and impacting on investment sector. The animal protein ingredients market is experiencing a positive impact mainly due to the key role of protein in immune system health. During the pandemic, individuals have become highly focused on boosting immunity and reducing weight, increasing the demand for protein ingredients. However, this industry has faced some challenges from the manufacturing and distribution point of view. As the global population is entering the recovery phase of COVID-19, stakeholders across animal protein ingredient categories have started to adapt to the new normal.
However, during the lockdown, the outbreak has led to massive disruptions in supply chains and caused demand-based fluctuations in raw material prices, which may increase animal protein ingredient prices. The COVID-19 outbreak followed by lockdowns, has significantly affected the customer purchase of highly processed food products. Moreover, the closure of offices, sports clubs, and gyms resulted in the decreased sale of health supplements, beverages, and personal care products. This hampered the demand for animal protein ingredients for some duration in 2020. However, the overall demand has increased with a focus on the consumption of protein-rich diets.
Key Findings in the Animal Protein Ingredients Market Study:
Based on type, the animal protein ingredients market is segmented into dairy proteins, egg proteins, and gelatin. The dairy proteins segment accounted for the largest share of the overall animal protein ingredients market in 2020. This segment's leading position is mainly attributed to its huge demand in the food processing industry due to its versatile functionality. Its consumption is rapidly increasing in protein bars, meal replacement powder, high protein clinical formulation, and dietetic products. Additionally, the rising trend of healthy snacking culture and expansion of active nutrition will further contribute to the rapid growth of the dairy proteins segment.
Based on application, the animal protein ingredients market is mainly segmented into food and beverages, nutritional supplements, animal feed, pharmaceuticals, and others. The food and beverage segment accounted for the largest share of the overall animal protein ingredients market in 2020. The large share of this market is mainly attributed to the rising acceptance of sugar-free, healthy, and functional ingredient-based processed food products across the globe and growing awareness and demand for protein-rich food and beverage products.
Geographically, Europe accounted for the largest share of the global animal protein ingredients market in 2020, followed by North America, Asia-Pacific, Latin America, and the Middle East & Africa. Demand for animal protein ingredients in Europe is majorly driven by growing innovation, increasing number of people consuming a healthy diet, and presence of a large number of animal protein ingredient manufacturers. However, the Asia-Pacific animal protein ingredients market is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of this market include the increasing purchasing power of the middle-class population, expanding infant nutrition industry due to decreasing breastfeeding rate, growing foreign investment, and increasing demand for western dairy products, such as yogurt, fermented milk, and artisan dairy products.
The key players operating in the global animal protein ingredients market are Kerry Group (Ireland), Arla Foods amba (Denmark), Fonterra Co-Operative Group Limited (New Zealand), Royal FrieslandCampina N.V. (The Netherlands), Saputo Inc (Canada), Sodilaal International (France), Lactalis Group (France), AMCO Proteins (U.S.), Glanbia plc (Ireland), Hilmar Ingredients (U.S.), Cargill, Incorporated (U.S.), Kewpie Corporation (Japan), Savencia SA (France), and Agropur Cooperative (Canada) among others.
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