Protein Market for Animal Feed Application Size, by Product (Plant Protein, Animal Protein, Alternative Protein) and Livestock (Poultry, Swine, Cattle, Aquaculture, Petfood, Equine), COVID-19 Impact Outlook, Industry Analysis Report, Regional Outlook, Gro

Protein Market for Animal Feed Application Size, by Product (Plant Protein, Animal Protein, Alternative Protein) and Livestock (Poultry, Swine, Cattle, Aquaculture, Petfood, Equine), COVID-19 Impact Outlook, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2032

Protein Market for Animal Feed Application is expected to demonstrate massive growth through 2032 due to increased industrial livestock production. The development of livestock production has shifted to an industrialized type of farm animal rearing worldwide. It is also gaining traction in the practice of farm animal production. The revolution of livestock production from a small-scale animal husbandry family to a large-scale corporate business is expected to yield significant gains to the protein market for animal feed applications through 2032.

Furthermore, the consistent population growth and the subsequent rise in the demand and uptake of meat and other animal-based products have massively boosted livestock production in recent years. This is expected to be a major factor driving the protein business for animal feed applications between 2023-2032.

The key players operating in this industry are continuously incorporating strategic initiatives such as mergers and acquisitions, partnerships, and launching new products to expand their portfolio. For instance, in 2021, the agribusiness conglomerate Archer Daniels Midland Company acquired Deerland Probiotics & Enzymes, a firm specializing in developing science-backed solutions. The strategic association between the two firms aims to benefit microbiome health using probiotics, prebiotics, and enzymes.

Overall, the protein market for animal feed applications is classified in terms of product, livestock, and region.

With respect to the product, the alternative protein segment is expected to reach over USD 8 billion by 2032. The alternative protein industry for animal feed derived from insect-based protein is expected to record considerable growth owing to the increasing R&D investments intending to search for alternative protein sources worldwide. In addition, the rising demand for animal feed will encourage producers to unveil innovative technologies and raw materials, further bolstering segment gains.

Based on livestock, the pet food segment is expected to register market estimates of more than USD 16.5 billion by 2032, owing to the rising need for pet food rich in essential nutrients such as protein, energy, vitamins, and minerals.

From a regional perspective, the Asia Pacific protein market for animal feed applications is expected to exhibit more than 3% CAGR through 2032. The growth can be attributed to the increasing seafood consumption in nations such as India, Japan, and China. Besides, the flourishing aquaculture industry and the increased usage of alternative animal and pet food proteins as feed attractants to enhance the aquaculture feed's flavor, texture, and odor, are further slated to augment the market sales trajectory during 2023–2032.

In addition, over the past few decades, the amount of meat consumed in emerging nations has increased three times faster than in industrialized nations. As a result, demand is the main factor driving the livestock revolution, escalating market expansion.