New York, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The global animal protein market size is expected to expand at ~6% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 75 billion by the end of 2035, up from a revenue of ~USD 45 billion in the year 2022.The growth can be largely attributed to the growing demand for protein across the globe. The demand for protein as a food component is rising dramatically because of increased global population, urbanization, growing health consciousness, rising number of fitness centers, and rising earnings.
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For instance, more than 200 million tons of protein are currently needed worldwide to feed the world's 7 billion people. These factors are expected to drive the demand for animal protein.
Growing Demand for Seafood to Boost Market Growth
By 2050, the demand for seafood is predicted to nearly double owing to rapid population growth. By 2030, the demand for seafood will rise by over 13% worldwide. Seafood is one great source of high-quality, easily digestible, and well-balanced protein which is minimal in fat content and rich in vitamins and minerals. Fish especially species like salmon, trout, mackerel, and cod are examples of seafood that are significant providers of protein for human nutrition because of their high omega-3 fatty acid content. For instance, over 25% of people on the planet get their primary source of animal protein from seafood the global demand for which is predicted to increase by over 12% dramatically.
Animal Protein Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Health Consciousness to Drive the Growth in the Asia Pacific Region
The Asia Pacific animal protein market is estimated to garner the largest revenue by the end of 2035. This is largely due to the growing number of health-conscious consumers in the region. For instance, India's population of health-conscious customers is projected to rise from around 107 million in 2020 to more than 175 million in 2026. Moreover, Indian customers are prepared to pay more for natural foods, exercise courses, and activities, and have also become more conscious of the value of protein in their diets. Additionally, in India, eggs are the most popular form of animal protein which is produced in the majority of the nation. The country is one of the top three egg-producing nations in the world, behind China and the US, with more than 3 crore hens imprisoned in egg farms throughout the nation. India produced over 125 billion eggs in 2022—a considerable rise over the roughly 15 billion eggs produced in the fiscal year 1986.
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Growing Consumption of Meat to Drive Growth in the North America Region
The animal protein market in the North America region is estimated to garner the largest revenue by the end of 2035. The United States continues to lead the world in meat consumption per capita; as the average American currently consumes more than three times as much meat as the average person worldwide. For instance, broiler chicken accounted for around 98 pounds of meat consumption per person in the United States in 2022, and by 2032, this number will have increased to more than 105 pounds per person. During the past century, the amount of meat consumed in the US has almost doubled as Americans mostly rely on meat as their source of protein and lots of other nutrients that the body needs.
Animal Protein Segmentation by Application
- Food & Beverages
- Pharmaceuticals & Nutraceuticals
- Cosmetics & Personal Care
- Feed
The food & beverages segment is anticipated to hold the largest revenue by the end of 2035. This is mostly because of the rising intake of gelatin in the food & beverage sector. For instance, on average, gelatin is consumed more than 1 time every year. Particularly, in western parts of Europe, total gelatin usage is more than 59,000 tonnes per annum, of which around 79% is used by the food and beverage industry. Gelatin is frequently eaten in meals since it makes up 98–99% of protein and amino acids. Gelatin is produced by cooking collagen which is the most prevalent protein in both humans and animals and is present practically everywhere in the body, including the skin, bones, tendons, and ligaments. In addition to treating rheumatoid arthritis, osteoarthritis, and brittle bones, gelatin is used to help people lose weight and potentially enhance skin and hair appearance.
Animal Protein Segmentation by Product
- Egg Protein
- Dairy Protein
- Fish Protein
- Gelatin
The dairy protein segment in animal protein market is anticipated to hold the largest revenue by the end of 2035. This is largely due to the growing consumption of dairy products. For instance, India drank more than 85 million metric tons of cow milk in 2023, making it the world's largest consumer. Particularly, Fresh dairy product consumption is predicted to increase by over 1% yearly worldwide. Moreover, it is anticipated that the proportion of fresh dairy products consumed globally will rise owing to the rising demand from India and Pakistan, changes in consumption patterns brought about by rising incomes, and a growing global population. Dairy products like yogurt and cheese, as well as milk, have been shown to boost bone and heart health as they are excellent providers of protein. Whey and casein are the two foremost types of protein found naturally in dairy foodstuffs. For instance, casein accounts for around 79% of the protein in milk, with whey making up the remaining 21%. Milk, yogurt, and cheese contain all of the essential amino acids that our systems are unable to produce therefore, those who eat dairy products but not animal meat can choose protein from dairy foods.
A few of the well-known indsutry leaders in animal protein market that are profiled by Research Nester are Archer Daneils Midland Company, Arla Foods Ingredients Group P/S, Cargill, Incorporated, Darling Ingredients Inc., Kerry Group Plc, Kewpie Corporation, Nitta Gelatin India Limited, Peterlabs Holdings Berhad, Fonterra Co-Operative Group Limited, and other key market players.
Recent Development in the Animal Protein Market
- Kerry Group Plc to grow its business in the Middle East by opening a new, state-of-the-art 21,500-square-foot facility in Saudi Arabia. Furthermore, in the last few years, Kerry Group has made investments in the area of over USD 85 million.
- Fonterra Co-Operative Group Limited along with Columbia River Technologies a joint venture of Three Mile Canyon and Tillamook introduced Pro-Optima, a Grade A functional whey protein concentrate that can raise yogurt's protein content to the maximum amount.
Read our insightful Blogs and Data-driven Case Studies:
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