NEWARK, Del, March 24, 2023 (GLOBE NEWSWIRE) -- The hydrolyzed animal protein market is expected to reach US$ 838.43 million by 2033, recording a CAGR of 6.1% over the forecast period, from an estimated value of US$ 463.78 million in 2023.
Key Determinants of the Hydrolyzed Animal Protein Market
The drastically transformed purchasing patterns of consumers and the rise in disposable money have led to an increase in the demand for nutrient-rich meals. The market is anticipated to develop as a result of the growing acceptance of protein-focused diets and the consequent rise in demand for hydrolyzed animal protein in the food and beverage industry.
To produce hydrolyzed animal protein, meals of animal origin are first cooked in potent hydrochloric acid, before being neutralized with sodium hydroxide. Animal protein is in high demand among consumers, as awareness of its benefits for health among consumers grows. The market for hydrolyzed animal protein is predicted to grow as customer interest in healthy food and drink increases.
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Bottlenecks of the Market
The demand for animal proteins, including meat and dairy proteins, is anticipated to decline as veganism becomes more popular. Consumers also believe that animal proteins are safer and healthier. The need for animal-based protein components and rising consumer concern about animal welfare are anticipated to restrain the growth of the hydrolyzed animal protein market.
Regional Outlook
Established markets dominate the global market environment. The popularity of veganism and vegan diets is promoting market expansion. The hydrolyzed animal protein market has the most significant manufacturers in North America and Europe. These regions collectively account for more than 60% of the global market.
As more people become aware of the health benefits of hydrolyzed animal proteins, and as their use in cosmetics and personal care items increases, the market is expanding. The growing nations of South Asia and East Asia are the next potential markets on the worldwide market for manufacturers.
Key Takeaways
- By the end of the analysis period, the food segment is predicted to record a CAGR of 6.4% and reach a valuation of US$ 490.7 million.
- The feed segment growth is anticipated to record a CAGR of 5.1% during the projection period.
- Through 2033, the United States hydrolyzed animal protein market is anticipated to reach a valuation of US$ 105.8 million.
- By 2033, China is expected to have a projected market size of US$ 219.57 million, recording a CAGR of 9.8% from 2023 to 2023.
- Japan is expected to record a CAGR of 3.6% between 2023 and 2023.
- The market growth in Canada is expected to increase between 2023 and 2023 at a CAGR of 5%.
- The hydrolyzed animal protein market in Germany is anticipated to increase between 2023 and 2023 at a CAGR of about 4.5%.
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Competitive Landscape
There are many domestic and international competitors vying for market dominance in the competitive hydrolyzed animal protein industry. Businesses are concentrating on the development of new products with healthier animal-based components and a clean label claim, as well as on acquisition, merger, partnership, and expansion as their primary marketing strategies.
Several of the leading firms in the hydrolyzed animal protein market around the world include Arla Foods Ingredients Group P/S, BRF S.A., Cargill, Inc., Essentia Protein Solution, Fonterra Co-operative Group, GELITA, Kemin Industries, Inc., Kerry, Inc., Lactalis Ingredients, and Novozymes A/S.
Recent Developments
- Launch - April 2019
A whey protein supplement derived from hydrolyzed whey protein was introduced in April 2019 by Dragon Pharma. The launch of the product is intended to meet the rising demand for hydrolyzed animal protein.
Key Segments
By Type:
- Dairy Proteins
- Meat
- Poultry & Beef Proteins
- Fish Proteins
By Form:
- Powder
- Liquid
By Application:
- Pharmaceuticals and Nutraceuticals
- Food
- Cosmetics and Personal Care
- Feed
By Region:
- North America
- Europe
- Asia Pacific
- The Middle East and Asia
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Table of Content
1. Executive Summary | Hydrolyzed Animal Protein Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Soy Protein Ingredient Market: The Soy Protein Ingredient market is valued at USD 10.2 Bn in 2022 and is projected to grow at a CAGR of 4.5% during the forecast period, to reach a value of USD 15.9 Bn by 2032
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