Westford, USA, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The animal protein ingredients market has seen Europe emerge as a key region due to the high consumption of egg protein, driven by the rising demand for sports drinks and increased participation of young people in sports. The market is poised for significant growth, with improvements in supply chain management and technological advancements in the animal proteins industry supporting this growth. As a result of the growing need for proteins as functional and nutritional elements, the industry has experienced significant expansion.
According to SkyQuest, the growing acceptance and need for protein foods globally drive the animal protein ingredients market. Around 72% of consumers were willing to pay a higher price for such products in 2022. Furthermore, more than half of the global consumers surveyed were willing to pay an 11% premium for protein-fortified products. Additionally, 16% of consumers were willing to pay an even higher premium of 27%.
Browse in-depth T.O.C. on "Animal Protein Ingredients Market"
- Pages - 261
- Tables - 100
- Figures - 71
Protein is an essential nutrient for animals, as it is vital in supporting various physiological processes such as weight increase, growth performance, and overall health. Therefore, animal-derived proteins are a popular source of protein for various industries. Animal protein ingredients come from various animal sources such as eggs, dairy, fish, and others. These are distinct from plant-derived proteins and offer unique functional properties in multiple applications.
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Prominent Players in the Animal Protein Ingredients Market
- Kerry Group (Ireland)
- Fonterra Co-Operative Group Limited (New Zealand)
- Arla Foods amba (Denmark)
- Saputo Inc (Canada)
- Royal FrieslandCampina N.V. (The Netherlands)
- Lactalis Group (France)
- Sodilaal International (France)
- Glanbia plc (Ireland)
- AMCO Proteins (U.S.)
- Cargill Incorporated (U.S.)
- Hilmar Ingredients (U.S.)
- Savencia SA (France)
- Kewpie Corporation (Japan)
- Darling Ingredients Inc. (Brazil)
- Agropur Cooperative (Canada)
Milk Protein Concentrates Segment to Contribute Largest Revenue Share owing to Increasing Usage in Several Food Products
The milk protein concentrates (MPC) category held the greatest proportion of the animal protein ingredients market share in 2022. The stable growth of this segment is majorly driven by the widespread use of MPC in various food products such as cheese, yogurt, and soups, primarily due to its distinct dairy flavor. MPC is a concentrated protein source that contains high levels of protein, making it a popular choice for healthy foods and food fortification in the food industry. The demand for MPC is growing due to its nutritional benefits and versatility in various food products.
Europe was the largest market for animal protein ingredients in 2022, followed by North America and Asia-Pacific. The rising demand for protein-fortified personal care products largely drives the growth of the European market. SkyQuest's global research in the skincare industry has shown that a significant percentage of female consumers in the United States are actively seeking out specific ingredients in their skincare products. In fact, the study found that an overwhelming 92% of US women look for particular ingredients when selecting their skincare products. This trend is driving the growth of the market in the personal care segment, with an increasing number of companies incorporating animal protein ingredients such as keratin.
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Food and Beverage Segment to Register Fastest Growth Rate due to Growing Demand for Protein-Rich Products
The food and beverage category accounted for the highest percentage of the global animal protein ingredients market in 2022. This significant market share is largely driven by the increased demand for sugar-free, nutritious, and functional ingredient-based processed food items, along with expanding awareness and demand for protein-rich F&B products. As a result, consumers are increasingly seeking food and beverage products that are not only tasty but also healthy and nutritious. This trend has led to a rise in the use of animal protein ingredients in the food and beverage industry.
According to SkyQuest's research, the Asia-Pacific region is expected to experience the fastest CAGR in the market. This growth can be attributed to various factors, including the rising purchasing power of the middle class, an increasing baby nutrition business, and a rise in foreign investments in the region. In addition, the report suggests that in 2022, about 75-80% of fitness enthusiasts in the Asia-Pacific region chose high-protein foods as a primary source of energy and to strengthen their muscles. One of the major driving forces of this growth is the rising demand for high-protein foods among fitness enthusiasts.
SkyQuest's latest report on the animal protein ingredients market has shed light on various critical market trends currently driving the industry. In addition, the report highlights several key aspects, such as mergers, acquisitions, partnerships, product portfolios, product pipelines, and business policies that have significant implications for the market.
Key Developments in the Animal Protein Ingredients Market
- Darling Ingredients Inc., the world's leading company in food waste recycling and sustainable product production, has announced that it has agreed with Cattlemen's Heritage Beef Company. The agreement stipulates that Darling Ingredients will purchase the off-take from the beef processing facility in Mills County, Iowa. The planned beef-processing facility has a capacity of 2,000 heads per day. This agreement is expected to strengthen Darling Ingredients' ability to deliver high-quality protein, especially as the global demand for protein rises.
- Montana Dog Food Co. has launched its freeze-dried raw diets, supplements, and treats for dogs. The company aims to provide dogs with the nutrition they need throughout their lifetime by using responsibly sourced ingredients in all their products. One of the company's signature products is the Freeze-Dried Raw Dog Food, which is made with 85% animal protein, fruits and vegetables, antioxidants, and pre-and probiotics. The food is freeze-dried to preserve its nutritional value, aroma, and taste, making it a tasty and healthy option for dogs of all ages and sizes.
- Royal DSM, a global science-based company, has partnered with Foundation Earth to work on an eco-labeling initiative for food and beverage products. The partnership aims to promote transparency and credibility in food labeling by providing consumers with front-of-pack Eco Impact scores for animal protein products like eggs, milk, fish, and meat.
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Key Questions Answered in Animal Protein Ingredients Market Report
- What factors drive the growth of the animal protein ingredients market, and what is the projected CAGR for the forecast period?
- Which distribution channel will likely offer the most substantial business opportunities for players in the market?
- Which regulatory policies and environmental factors are likely to have the most visible impact on the global market?
- What are the major challenges facing the market, and how are players addressing them to maintain their competitive edge?
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