Animal Feed Protein Ingredients Market to surpass $555 Bn by 2032

The latest study conducted by Global Market Insights Inc. claims that the ** global animal feed protein ingredients market size ** could exceed USD 555 billion by 2032. The significant rise in the consumption of meat and meat products across the Asia Pacific and a commendable surge in fish meal production in South American economies, such as Peru, betoken a promising future for animal feed protein ingredients.

Proteins are building blocks of animal tissues and are necessary to ensure the growth and regeneration of body tissues and organs. Therefore, they are of utmost significance in animal nutrition and feed products. Protein ingredients usually associate high prices, encouraging feed manufacturers globally to seek new ways to introduce affordable protein sources, thus, favoring market dynamics.

According to the latest research report by Global Market Insights Inc., the animal feed protein ingredients market size could surpass USD 550 billion by 2032. A noticeable surge in livestock production and rising concerns pertaining to animal health will drive product demand in the forthcoming years.

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Highlighting some of the major trends streamlining animal feed protein ingredients industry growth through 2032

** Rising meat demand across APAC**

As people across the globe become increasingly health conscious, the demand for protein-rich food is set to grow in the near future. As a result, meat and meat products, being an affordable and easy-to-access source of protein, have witnessed a noticeable rise in sales in recent years, especially across Asia Pacific economies such as China and India.

Based on the OECD-FAO Agricultural Outlook 2022-2031, world meat production reached an estimated 339 Mt in 2021, recording a 5% uptick. Pig meat production in China registered a 34% rise, while beef output in India increased by 12%.

The convenience associated with preparing meat and rising income levels across both developed and developing economies are among the major factors driving this demand. To suffice this, feed manufacturers globally are working on introducing efficient feed ingredients that ensure better productivity and animal health. This, in consequence, will create a favorable growth outlook for the animal feed protein ingredients market.

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** Commendable surge in poultry farming practices**

Poultry products, especially chicken, are in great demand due to a variety of factors. Compared to other livestock, chickens convert feed to meat more efficiently and mature and attain market weight faster. These can be raised in limited space, thus, enabling producers to raise poultry in varied environments, including small plots of land. These factors make poultry production more affordable, feasible, and a preferred alternative over beef and pork for farmers in developing and emerging markets.

According to USDA August 2022 report, the demand for poultry meat reached almost 128 million metric tons in 2021 from 69 million metric tons in 2001, depicting 86% growth. On the other hand, global poultry imports could reach 17.5 million metric tons by 2031.

Favorable scenarios associated with poultry demand globally will propel the demand for protein-rich feed products to offer a high level of available phosphorus, protein/amino acids, moderate amounts of other minerals, and levels of energy, thus, augmenting the animal feed protein ingredients sales trajectory.

Increasing popularity of oilseed meals

The shifting consumer preference toward plant-based protein ingredients has bolstered the adoption of oilseed meals for animal feeds. To make the most of available growth opportunities, businesses worldwide have been accelerating their efforts to commercialize such products and gain access to a broader consumer base.

To that end, in March 2023, Corteva and Bunge partnered to develop a commercial soybean variety with a rich nutritional profile, with higher protein and amino acid content, for the animal feed industry, notably swine, poultry, and aquafeed. Such innovations and efforts are likely to render a positive impact on the overall market growth in the coming years.

To sum up, the animal feed protein ingredients market will undergo significant transformation during 2023-2032, given the increasing demand for diversity in protein sources and changing dietary preferences. Moreover, the consistently improving economic landscape across developed and developing economies will strengthen the market outlook through 2032.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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