Processed Animal Protein Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Processed Animal Protein Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Processed Animal Protein Market

The Processed Animal Protein market size was valued at USD 12.32 billion in 2023, and the market is now projected to grow from USD 12.56 billion in 2024 to USD 15.21 billion by 2032, exhibiting a CAGR of 2.78% during the forecast period of 2024-2032.

Consumers were seen stockpiling nourishment items within the introductory stages of the worldwide COVID-19 widespread due to the sudden imposition of lockdown in numerous nations. Public places were closed down to check the spread of the infection. Also, the accessibility of laborers was too obliged, and transportation was influenced. This limited the availability of raw materials within the market and caused instability within the costs of the raw materials. In spite of the fact that the COVID-19 widespread disturbed the supply chain within the introductory stages, the pricing range of the raw materials was counterbalanced by the provoked demand for animal feed items in the market arena and this happening infuriated the processed animal protein market growth.

Consumer inclination for meat and poultry-based items is continually advancing, which is making unused challenges for mechanical creature ranches. For illustration, a few cultivate proprietors raise concerns approximately the sort and quality of nourish bolstered to the cultivate creatures. With the rising costs of soybean supper, the request for elective protein sources such as handled creature protein increments quickly. To counter this, producers are coordination unused devices and advances to extend generation efficiency and address the generation challenges faced.

In recent years, the sum of meat utilization has risen altogether. The rise in prepared meat utilization has driven to an increment within the generation of animal waste, which needs proper management. However, transfer of animal waste could be a cost-intensive handle that includes labor, crude materials, coordination, and expendable arrive to urge freed of squander items. In expansion, there are a few natural limitations related with the transfer of such waste as they may be mindful for contaminating air, water, or ground near them.

Comprehensive Analysis of Processed Animal Protein Market

The market pool for processed animal protein is generalized as beef, pork, poultry and others. As the time evolves, the poultry feed is rapidly increasing. The market on the basis of form is segmented into liquid and dry.

Asia Pacific dominated the processed animal protein market share due to significant animal generation within the region possessing a valuation of USD 4.30 billion. India, China, and Japan are noteworthy producers of pork, chicken, and meat items and depend on the great quality of creature nourish to extend their generation surrender. Thus, this market acts as an opportunity for the prepared creature protein producers to extend their benefit edge by propelling imaginative and cost-effective arrangements for the agriculturists.

The market pool for processed animal protein is prominently solidified, with major operating players and a few of the critical advertise players incorporate Tyson Foods Inc. (U.S.), Ridley Corporation Limited (Australia), West Coast Reduction Inc. (Canada), Sonac (The Netherlands), Sanimax (Canada), Leo Group (U.K.), BOYER VALLEY COMPANY, LLC. (U.S.) and others in creating high-quality bolstered items for the pet nourishment and nourish industry. With the appropriation of techniques such as mergers and acquisitions of companies with comparable competencies. Moreover, the companies point to create and progress their generation prepare and dispatch inventive items within the market.

In July 2021, the company Feednova, a Ukraine-based company, declared its plans to dispatch a plant for handling creature by-products into nourish and pet nourishment items. The assessed cost of plant establishment is within the run of USD 20 million.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Estimated Year

2021

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Billion)

Segmentation

By Source

Poultry

Pork

Beef

Others

By Form

Dry

Liquid

By Geography

North America (By Source, Form, and Country)

Europe (By Source, Form, and Country)

Asia Pacific (By Source, Form, and Country)

South America (By Source, Form, and Country)

Middle East and Africa (By Source, Form, and Country)Please Note: It will take 5-6 business days to complete the report upon order confirmation.