Animal Feed Protein Ingredients Market Size By Product (Oilseed Meals [Soymeal, Rapeseed/Canola Meal, Sunflower Meal, Copra Palm Meal, Cottonseed Meal], Fishmeal, Animal By-product Meals), By Livestock & Forecast, 2023-2032

Animal Feed Protein Ingredients Market Size By Product (Oilseed Meals [Soymeal, Rapeseed/Canola Meal, Sunflower Meal, Copra Palm Meal, Cottonseed Meal], Fishmeal, Animal By-product Meals), By Livestock & Forecast, 2023-2032

Animal Feed Protein Ingredients Market Size

Animal Feed Protein Ingredients Market size surpassed USD 234 billion in 2022 and is estimated to expand at 5.5% CAGR from 2023 to 2032, driven by the increasing industrial livestock production.

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Expanding population and rapid urbanization are accelerating migration, resulting in a strong demand for quality animal-derived food products, such as meat, milk, and eggs, which is expected to boost livestock agriculture. Furthermore, several EU Member States, such as Spain, Italy, and Denmark, are particularly specialized in livestock husbandry. Notably, in Europe, there were 142 million pigs, 76 million bovine animals, and 71 million sheep and goats in 2021.

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Strict feed regulation compliances may hamper industry development

The increased consumption of meat and meat products has resulted in the implementation of severe regulatory requirements to maintain animal and human safety, resulting in stringent regulatory compliances for producers and distributors, which is negatively impacting the animal feed protein ingredients market. However, as governments recognize the importance of the livestock and poultry industries in maximizing farming incomes, they are stepping in to help by reducing compliance with these laws and establishing several favorable policies.

Animal Feed Protein Ingredients Market Analysis

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By product, the animal feed protein ingredients market from the oilseed meals segment is projected to reach USD 475 billion in revenue by 2032, impelled by rising customer preference for plant-based protein ingredients. Moreover, businesses are taking efforts to commercialize in the thriving market and attract new customers, which is set to accelerate the industry growth. For instance, in April 2022, food company Bunge collaborated with startup CoverCress Inc. ("CCI") to launch a novel renewable oilseed & animal feed crop that is ideal as a lower carbon intensity feedstock to address the mounting biofuel demand.

Under oilseed meals, the animal feed protein ingredients market from soymeal sub-segment is slated to depict over 9.5% CAGR through 2032, backed by the growing inclination towards genetically modified (GM) crops due to high yields and improved quality for livestock and fish feeds. In May 2022, the Indian government approved the import of around 0.55 million tons of GM soymeal. Furthermore, as soybean harvesting is concentrated in some regions, particularly those with uncertain weather conditions, key countries such as China are focusing on improving their domestic yields to reduce their reliance on imports.

According to the report, the Asia Pacific animal feed protein ingredients market is forecast to exceed a valuation of USD 228 billion by 2032, owing to the high regional population, rising incomes, and changing diets, which are propelling livestock production. To cite an instance, the Indian government is promoting the livestock and poultry sectors’ expansion through several favorable policies to raise farmers' earnings and increase off-farm employment. Similarly, in December 2022, the Asian Development Bank approved a $62.9 million package to assist Cambodia in strengthening its food security and promoting inclusive economic growth by boosting animal healthcare and value chains.

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In terms of livestock, the animal feed protein ingredients market from the poultry segment will exhibit substantial growth at more than 9.5% CAGR during the forecast timeline. Over the last two decades, poultry has emerged as the world's most consumed livestock product, particularly in developing and emerging nations where production possibilities are limited. Many countries have increased domestic poultry production to fulfill expanding demand while the U.S., Brazil, EU, and Thailand have become prominent poultry exporters contributing to the rising requirement for protein-rich animal feed and fueling the market revenue.
 

Under livestock, the broiler sub-segment is expected to cross USD 165 billion by 2032. Broiler production requires less capital investment and has a shorter production life cycle than other meat-producing animals, which is bolstering profitability and facilitating the global expansion of commercial broiler farming. The high need for protein among broilers to improve performance and output is likely to significantly contribute to market expansion.
 

Animal Feed Protein Ingredients Market Share

Several prominent enterprises engaged in the animal feed protein ingredients market are

• Nutraferma LLC
• CJ Selecta
• Green Labs LLC
• GRF Ingredients
• Janatha Fish Meal & Oil Products
• Alltech
• Vetbiochem Group
• Nutrifish
• Fenchem
• Sotexpro
• ATA Foods
• Haarslev Processing Technology

The market is speculated to witness innovative product developments and product range expansions by companies. In August 2021, Hamlet Protein introduced HP FiberBoost, a pure fiber product made with beneficial fibers, specifically for dietetic use in pigs, which provides food producers another option when developing diets without zinc oxide.
 

Impact of COVID-19 pandemic

Despite the relatively consistent demand for animal feed, the coronavirus outbreak severely impacted the animal feed protein ingredients industry. Strict lockdowns and transport limitations affected the animal feed supply chain, reduced the availability of services related to animal husbandry, and restricted access to markets and customers. Rising COVID cases in China, a key supplier of organic soybean, disrupted the international manufacturing operations of organic feed. However, many farmers resorted to panic-buying of animal feed due to the government's implementation of lockdowns, which proved lucrative for the market during the pandemic.
 

This animal feed protein ingredients market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in million tons and revenue in USD million from 2018 to 2032, for the following segments

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Market, By Product

• Oilseed meals
  • Soymeal
  • Rapeseed Meal
  • Sunflower meal
  • Copra Palm
  • Cottonseed meal
  • Other oilseed meals
• Fishmeal
• ABP Proteins
  • Meat & Bone meal
  • Feather meal
  • Blood meal
  • Poultry meal
  • Meat Meal

Market, By Livestock

• Poultry
  • Broiler
  • Layer
  • Turkey
  • Others
• Swine
  • Starter
  • Grower
  • Sow
• Cattle
  • Dairy
  • Calf
  • Others
• Aquaculture
  • Salmon
  • Trout
  • Shrimp
  • Carp
  • Yellow Catfish
  • Snakehead
  • Seabass
  • Pomfret
  • Herring
  • Eel
  • Turtle
  • Crab
  • Others
• Petfood
  • Dogs
  • Cats
  • Birds
  • Fish
• Equine
• Others

The above information has been provided for the following regions and countries

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • Russia
  • UK
  • Netherlands
  • Belgium
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
• LATAM
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Qatar