PUBLISHER: The Business Research Company | PRODUCT CODE: 1414212
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414212
“Feed Fats And Proteins Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on feed fats and proteins market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for feed fats and proteins? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The feed fats and proteins market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Feed fats and proteins encompass animal feeds enriched with concentrated fats and proteins to enhance the health of the animals. They play a crucial role in delivering essential nutrition to support the overall well-being of the animals.
The primary sources of feed fats and proteins are derived from both animals and plants. Animals, referring to multicellular creatures within the animal kingdom, are utilized to produce a diverse range of products, including oilseed meal, fishmeal, animal by-product meal, and others. These feed products cater to various livestock categories such as ruminants, poultry, aqua, swine, equine, among others.
The feed fats and proteins market research report is one of a series of new reports from The Business Research Company that provides feed fats and proteins market statistics, including feed fats and proteins industry global market size, regional shares, competitors with a feed fats and proteins market share, detailed feed fats and proteins market segments, market trends and opportunities, and any further data you may need to thrive in the feed fats and proteins industry. This feed fats and proteins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The feed fats and proteins market size has grown strongly in recent years. It will grow from $8.73 billion in 2023 to $9.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion witnessed in the historical period can be ascribed to the industrialization of livestock farming, advancements in animal health and productivity, variations in feed ingredient prices, the globalization of livestock production, heightened nutritional awareness, and regulatory backing.
The feed fats and proteins market size is expected to see strong growth in the next few years. It will grow to $11.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated expansion in the forecast period is associated with an increasing need for aquaculture feed, the exploration of alternative protein sources, concerns regarding biosecurity, the influence of climate change, and a growing demand for animal protein. Noteworthy trends in the forecast period encompass technological advancements in feed formulation, emphasis on traceability and transparency, integration of digital technologies, innovations in feed additives, and a focus on sustainable sourcing.
The surge in pet adoption is anticipated to drive the growth of the feed fats and proteins market in the future. Pet adoption involves acquiring animals through rescue groups rather than purchasing them from pet shops or breeders. Meals rich in protein and fat contribute to building and repairing the bodies of companion animals such as dogs. In 2021, Chewy Inc., a US-based online retailer of pet food and products, reported that approximately 977,202 pets were adopted in the US, marking the highest adoption rate of 61% in the past six years. Moreover, a national survey conducted by Animal Medicines Australia (AMA) in November 2022 revealed that around half of Australian households had at least one dog, making dogs the most common pets. In 2022, 48% of households had dogs, up from 40% in 2019. Therefore, the increasing rate of pet adoption is fueling the growth of the feed fats and proteins market.
The growth in meat consumption is expected to boost the feed fats and proteins market in the coming years. Meat consumption involves the consumption of animal flesh as food and serves as a vital source of minerals, vitamins, iron, and proteins in the human diet. Feed fats and proteins play essential roles in the diets of animals raised for meat production, leading to a heightened demand for these components due to their crucial contributions to animal nutrition. In 2023, TheWorldCounts, a Denmark-based website providing information and statistics, reported a consumption of 329 tons of meat in 2023, and this figure is projected to reach 460 million by 2050. Hence, the increasing consumption of meat is steering the growth of the feed fats and proteins market.
Product innovations stand out as a prominent trend gaining traction in the feed fats and proteins market. Leading companies in this market are actively engaged in developing novel products and solutions to bolster their market standing. For example, in December 2021, BASF SE, a chemical company based in Germany, introduced Natupulse TS, an innovative feed enzyme designed for animal feed. This product aims to enhance nutrient digestion, making animal feed more cost-effective and sustainable. Natupulse TS incorporates beta-mannanase into the feed, reducing digest viscosity, improving feed efficiency, and supporting the more sustainable production of animal protein. This innovation contributes to increased nutrient absorption and affordability of animal feed, showcasing a commitment to sustainability.
Technological advancements are also shaping the landscape of the feed fats and proteins market, with innovations such as SucculencePB gaining prominence. This technology aids plant-based product manufacturers in retaining moisture and flavor, significantly elevating the taste and nutritional profile of their offerings. Kerry Group plc, an Ireland-based food company, introduced SucculencePB in March 2023 to enhance the taste and nutritional qualities of plant-based meat alternatives such as burgers and sausages. Incorporating SucculencePB in plant-based meat production delivers notable nutritional benefits, including a substantial reduction in fat, saturated fat content, and calorie count. Such advancements enable products to achieve higher scores on local and regional front-of-pack labeling and nutrition rankings, such as the Nutri-Score and the UK traffic light system.
In October 2022, United Petfood, a pet food manufacturer based in Belgium, acquired Gold Line Feeds in a deal of undisclosed value. This strategic acquisition is expected to reinforce United Petfood's position in the UK pet food market, providing access to Gold Line Feeds' facility, brands, and customer base. Gold Line Feeds Ltd., the acquired company, is a UK-based animal feed manufacturer.
Major companies operating in the feed fats and proteins market report are The Archer-Daniels-Midland Company, Darling Ingredients Inc., The Scoular Company, Omega Protein Corporation, Roquette Freres, Bunge Limited, Euroduna Rohstoffe GmbH, AGRANA Group, Land O'Lakes Inc., Smithfield Foods Inc., Nutricorn Co. Ltd., Tyson Foods Inc., BRF S.A., AarhusKarlshamn AB, Nutreco N.V, Cargill Incorporated, Wilmar International Limited, Westway Feed Products LLC, Calysta Inc., Gavilon Group LLC, Valley Proteins Inc., Biorigin S.A., EcooFeed LLC, De Heus Animal Nutrition, Titan Biotech Limited, Unibio A/S, Agrosuper S.A., EuroFeed Technologies, The Lauridsen Group Inc., Ample Hills Fats LLC
Asia-Pacific was the largest region in the feed fats and proteins market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global feed fats and proteins market the during the forecast period. The regions covered in the feed fats and proteins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the feed fats and proteins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The feed fats and proteins market consists of sales of soybeans, peanuts, flaxseed, and canola. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.