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.
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Rise in demand for infant formula drives the demand for animal protein such as dairy protein in the market. Moreover, rising demand for animal protein from cosmetics and personal care industry is expected to offer immense opportunity for the animal protein market growth during the forecast period. In addition, the animal protein market analysis is done based on regions, key players, end users and segments.
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.
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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.
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
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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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