Feed Plant Based Protein Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Concentrates, Isolates, Others), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Others), By Source (Soy, Wheat, Pea, Sunflower, Others), By Region, and Competition 2018-2028
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationFeed Plant Based Protein Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Concentrates, Isolates, Others), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Others), By Source (Soy, Wheat, Pea, Sunflower, Others), By Region, and Competition 2018-2028
In 2020, in India the production volume of rice of over 161 million metric tonnes was the highest among the plant-based proteins in India.
Global Feed Plant Based Protein Market is expected to expand during the projected period due to increasing demand of plant based protein for animal feed. As these proteins provide various benefits such as high digestibility and nutritional value to the livestock, it helps to increase the yield and productivity of various livestock products.
Growing Demand of Plant based Meat Alternatives in Animal Feed
Plant-based protein can be included in animal feed as a source of nutrition for the animals. Some common plant-based protein sources that are used in animal feed include soybean meal, canola meal, and sunflower meal. These protein sources are often used to supplement animal feed made from grains and other ingredients. Including plant-based protein in animal feed with several benefits. It can help reduce the use of animal-derived protein sources such as fishmeal, which can be expensive and unsustainable. Additionally, it can help reduce the environmental impact of animal agriculture by reducing the amount of land, water, and other resources needed to produce animal feed.
However, it is important to note that the quality and digestibility of plant-based protein sources can vary, and some may not provide all the necessary amino acids that animals need for optimal health. Therefore, it is important to ensure that the animal feed contains a balanced mix of protein sources to meet the nutritional needs of the animals. This can be achieved through careful formulation and testing of animal feed to ensure that it meets the nutritional requirements of the targeted animal species.
The shift in the usage of animal products in animal feed is a result of the human population's need for vegetarian protein. There is proof that dogs and cats share their owners' preference for a diet high in plant-based proteins. The main issue with diets based on meat for pets is the welfare and rights of farm animals. Majority of pet owners are animal lovers, which makes them more likely to respect the humane and ethical treatment of animals used for food production. Unhealthy perceptions of meat and worries about the production of animal proteins for the environment and sustainability have been major development drivers in recent years for plant-based pet food. Pet food manufacturers must carefully formulate their recipes to ensure that they provide all the necessary nutrients, including protein, essential amino acids, vitamins, and minerals, that dogs and cats need to thrive. It's important to choose high-quality pet food products and consult with a veterinarian to ensure that the pet is receiving a nutritionally balanced diet.
For instance, in 2023,
Moreover, the consumption of synthetic protein source in animal food causes many diseases such as increase in cholesterol that affect directly and indirectly the health of livestock which hamper the animal farming. To overcome this issue many animal farming players use plant-based product for animal feed as they are eco-friendly, preventing chronic illnesses, and regulating cholesterol.
For instance, in March 2022, One Good acquired PRO2FIT, a nutrition brand to produce plant-based nutrition products such as vegan protein powder.
Therefore, increasing demand of plant-based nutrient drives the growth of market during the projected period.
Growing health consciousness
Feed for animal have thus grown in importance as a part of the integrated food chain. To create the proper feed for different animal species, components, and feedstuffs such as vitamins, proteins, amino acids, colorants, minerals, and antibiotics, found at in adequate quantities. As protein is the building blocks of life. Muscles are constructed of protein, which is a necessary food for body development, maintenance, and repair. People are becoming more aware about the health of animals and learning about the nutritional worth of various meals. Also, the desire to eat balanced meals full of all the necessary nutrients is growing, which is fueling the use of plant-based proteins. Yet to lessen their carbon footprint, more and more consumer is choosing plant-based proteins. The market for plant-based proteins is expanding because of the increased prevalence of food allergies, as plant-based meals are thought to cause less allergic responses than animal goods.
Manufacturer of animal nutrient are investing in the research and development to produce plant-based protein. Plant based protein are less likely to cause negative effects than synthetic protein and increase yield. Therefore, poultry farmers are switching to plant based protein.
For instance, The Archer-Daniels-Midland Company produces large number of plant-based protein which includes soy, wheat, pea, beans, chickpeas, red & green lentils, amaranth, barley, buckwheat, etc.
In addition, many producers use aquatic plants as a source of protein due to their impressive properties. Plant-based proteins are produced naturally by evolvement of energy from sunlight, which is used to combine different chemical components into a particular shape. The primary component causing this unusual process is the chlorophyll present in plants. According to research, aquatic plants and macroalgae as potential feed ingredients in ruminant diets.
Soy will be the Key Source of Protein
Soy is one of the demanding plant-based proteins that provides a complete nutritional profile that contains all the essential nutrients. Soy contains all essential amino acids, more than any other plant protein. Soy protein promotes better heart health rather than animal protein. Soy foods contain protein along with a lot of vitamins and minerals, such as B vitamins, zinc, and iron and some supplements of calcium and vitamin D with lot of antioxidants. This characteristic property of soy makes it a highly beneficial source of plant-based protein for vegan and vegetarian consumers around the world.
Moreover, the presence of many manufacturers and their high scale of production, low cost than other types of plant proteins, increased demand for plant-based products, easy availability of raw materials, and many applications in various industries.
For instance, Titan Biotech Ltd. produces I-SORIZON soya protein which provides all essential amino acids and important bio-active components.
Additionally, peas are not a major allergen and have a high nutritional profile. Along with it, peas provide numerous health advantages and due to its small and simple structure it is used in finished goods. Pea protein is a high-quality protein and a great source of iron as well as containing vitamins and minerals with low fat. It helps in muscle growth, weight loss and heart health.
For instance, Ingredion produces Vitessence Pulse pea protein.
All these factors increase the
However, one of the fastest-growing trends in specialty foods is the "free-from" movement. Due to its therapeutic and physiological advantages, the gluten-free and soy-free diet has swiftly emerged as the dietary trend with the quickest rate of growth. The growth in food sensitivities, regional dietary preferences, an increase in the diagnosis of coeliac disease, and the concept of utilizing food because the rise in soy-free and gluten-free food products is primarily the result of medicine which slow down the market growth. Limited production of plant-based protein and high demand result in the hike of the price of material which further slowdown the market growth.
Recent Developments
- In February 2023, Alltech and Finnforel announced
the acquisition of a fish feed production facility that will complete the
circular-economy fish-farming chain.
- Roquette launched a new NUTRALYS® organic range
of texturized pea and fava proteins in June 2022.
- In October 2021, Roquette Frères opened largest
pea protein plant in Portage La Prairie, Manitoba.
- Cargill introduces Radipure pea protein for Asia market in December 2019.
Market Segmentation
Global Feed Plant Based Protein Market
Company Profiles
The Archer-Daniels-Midland Company, Cargill, Incorporated, Roquette Freres SA, Ingredion Incorporated, Bluestar Adisseo Co., Ltd, Kerry Group plc., Wilmar International Ltd, AGRANA Beteiligungs-AG, Avebe UA, Alltech, Inc. are some of the key players of Global Feed Plant Based Protein Market.
|
Attribute |
Details |
|
Base
Year |
2022 |
|
Historic Data |
2018 – 2021 |
|
Estimated
Year |
2023 |
|
Forecast Period |
2024 – 2028 |
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Quantitative
Units |
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
|
Report coverage |
Revenue forecast, company
share, competitive landscape, growth factors, and trends |
|
Segments
covered |
Type Livestock Source |
|
Regional scope |
North America, Europe,
Asia Pacific, South America, Middle East & Africa |
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Country
scope |
United States; Mexico; Canada; France; Germany; United Kingdom; Spain;
Italy; China; India; South Korea; Japan; Australia; Brazil; Argentina; South
Africa; Saudi Arabia; UAE |
|
Key companies profiled |
The Archer-Daniels-Midland
Company, Cargill, Incorporated, Roquette Freres SA, Ingredion Incorporated,
Bluestar Adisseo Co., Ltd, Kerry Group plc., Wilmar International Ltd, AGRANA
Beteiligungs-AG, Avebe UA, Alltech, Inc |
|
Customization
scope |
10% free report customization with purchase. Addition or alteration
to country, regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase
options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special request) |
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