According to a new report published by Allied Market Research, titled, “Animal Protein Market by Product Type, Form and Application: Opportunity Analysis and Industry Forecast, 2021–2027,” The global animal protein market size was valued at $44,090.0 million in 2019, and is projected to reach $58,500.3 million by 2027, registering a CAGR of 5.4%from 2021 to 2027. Animal protein are functional ingredients used in the preparation of a wide range of food products, cosmetic products, nutraceuticals, and others. They possess many functional properties and bioactivities, which aid in the processing food & beverages, nutraceuticals, feed, and cosmetics. The demand for animal protein is expected to grow due to the high demand from food & beverage sectors. Moreover, growing demand from cosmetic industry for animal protein like gelatin is likely to offer immense animal protein market opportunity during the forecast period. Furthermore, the consumption of animal protein supplement is the current animal protein market trend which driving the growth of the market.
Animal proteins such as egg protein, dairy protein, and gelatin, function as thickening agent, gelling agent, foaming agent, carrier, and texturizer, which are used in preparations of a wide range of food products, cosmetics and nutraceuticals. Moreover, they find their application in animal feed as well. Furthermore, manufacturers of food & beverages ingredients have been significantly investing in R&D activities to enhance functions, performance, and nutritional value of animal proteins. . In addition to this, animal protein market analysis includes the analysis of the regional as well as global market, key players, application areas and market segments.
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The outbreak of COVID-19 has disrupted the animal protein market in terms of value sales. The recent declaration regarding the shutdown of notable proportion of the hospitality industry, including full-service restaurants, and quick service restaurants, which has dramatically hampered the sale of animal protein like gelatin.
The animal proteins market growth is driven by increase in consumption in preparation of food products such as bakery, confectionery, snack products, processed meat, and seafood products. Furthermore, the demand is propelled by surge in need for nutritional food in the market. Owing to increase in awareness about the benefits offered by nutritional and health products, consumers are shifting their focus toward healthy diets and are increasing their intake of protein. This in turn has encouraged manufacturers for increasing the use of animal protein in their products, which significantly contributes toward the global animal proteins market growth.
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The global animal protein market segments are categorized into product type, form, application, and region. By product type, it is classified into egg protein, dairy protein, fish protein and gelatin. By form, the market is bifurcated into solid and liquid. By application, it is divided into food & beverages, pharmaceuticals & nutraceuticals, cosmetics & personal care and feed. Region wise, the animal protein market is analyzed across Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, ASEAN, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).
By product type, the egg protein segment accounted for the highest animal protein market share in 2019. However, the gelatin segment is expected to grow at the highest CAGR during the animal protein forecast period.
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By form, the solid segment accounted for the highest market share in 2019. However, the liquid segment is anticipated to grow at the highest CAGR during the forecast period.
By application, the food & beverages segment accounted for the highest market share in 2019 However, the pharmaceuticals & nutraceuticals segment is expected to grow at the highest CAGR during the forecast period.
Region wise, Europe accounted for the highest market share in 2019. However, Asia-Pacific is anticipated to grow at the highest CAGR during the animal protein market forecast period
Key Findings Of The Study
By product type, the egg protein segment accounted for the highest market share in 2019, growing at a CAGR of 4.6% from 2021 to 2027.
By form, the solid segment occupied maximum share in the market in 2019 and is expected to dominate the market during the forecast period.
By application, the food & beverages segment occupied maximum share in the market in 2019 and is expected to dominate the market during the forecast period.
Region wise, Europe accounted for highest share in 2019 and is expected to grow at a CAGR of 3.9% during the forecast period.
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The key players operating in the animal protein industry include Archer Daniels Midland Company, Arla Foods Inc, Cargill, Incorporated, Darling Ingredients Inc, Kerry group plc, The Kewpie Group, Nitta Gelatin Inc , PeterLabs Holdings, Shenzhen Taier, and Trobas Gelatine B.V
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