The global animal feed alternative protein market size is expected to reach US$ 3.96 Billion and is projected to grow at a CAGR of 7.5% over the forecast period. As the world’s meat consumption rises, the demand for alternative proteins for animal nutrition will increase by the year 2033 and reach a value of US$ 8.2 Billion.
Food demand is increasing due to an increasing world population. It is likely that animal protein will continue to be in high demand even as alternative protein sources become available. In order to meet this demand safely and sustainably, the feed industry will need to strengthen its relationships with producers of animal proteins from all species and geographies in order to successfully meet consumer demand.
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Sustainability in breeding strategies is a major growth driver among dairy farmers. In the future, cattle husbandry will be industrialized more thoroughly, resulting in the use of compound feeds in appropriate quantities and advanced management practices. As a result, the cattle feed alternative protein market is expected to grow over the forecast period.
Key Takeaways from the Market Study
According to the report, the cattle livestock market is expected to reach US$ 2.6 billion by 2033.
The animal feed alternative protein industry is expected to grow at a CAGR of 7.5% between 2023 and 2033.
Insect Protein is expected to grow at a CAGR of 8.2% during the forecast period.
The global Hamlet Protein market is expected to grow at a CAGR of 8% between 2023 and 2033.
North American animal feed alternative protein sales are expected to grow 21% by 2033.
“Growing consumer awareness of pet health, increasing pet adoption, dairy farming, and technologies is likely to lead to an increase in animal feed alternative protein demand in the future,” comments an analyst at FMI.
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Competitive Landscape
Hamlet Protein A/S, E.I. Du Pont De Nemours and Company, Archer Daniels Midland Company, Nordic Soy Oy, Deep Branch Biotechnology, CHS Inc., Agriprotein Gmbh., Darling Ingredients, Innovafeed, Ynsect, Angel Yeast, Calysta Inc., Lallemand, Inc., AB Mauri, Titan Biotech Limited Company, Sojaprotein, Crescent Biotech, The Scoular Company. Cargill Incorporated, Nutraferma LLC.
These firms are pursuing a number of strategies to improve their competitive position and gain market share, including launching new products, expanding their facilities, merging, collaborating, partnering, and acquiring to strengthen their competitiveness. For instance,
As part of its commitment to meet strong demand growth, ADM, a global leader in nutrition, is investing approximately $300 million to expand its alternative protein production in Decatur, Illinois. With the opening of a new protein innovation center, also in Decatur, ADM will enhance its alternative protein capabilities even further. This $300 million expansion will nearly double Decatur’s extrusion capacity of soy protein concentrate.
Powered by partnerships, innovation, and speed, the Decatur-based Protein Innovation Center will meet the growing needs of customers
BioMar and Deep Branch have formed a long-term technical and commercial partnership to enhance the efficiency, profitability, and sustainability of the aquaculture industry, as well as redefine traditional aquaculture feed ingredients. In the near future, the cooperation will focus on optimizing salmon feed by utilizing ProtonTM, a single-cell protein that Deep Branch has developed for the feed industry. Deep Branch creates ingredients for a more sustainable food system using clean and renewable carbon and energy sources.
A clear scale-up roadmap has been developed as the company deploys its proprietary technology across the value chain. Through collaboration with local raw material providers, Deep Branch ensures that customers have access to nutritious, high-quality food and feed.
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More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the animal feed alternative protein market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the animal feed alternative protein market analysis report by Product (Insect Protein, Soy Protein Isolates, Soy Protein Concentrate, Fermented Soy Protein, Duckweed, Single Cell Protein, Grain Protein, Fungal Protein, Yeast Protein, Algae Protein, Others, Hamlet Protein, Others), by Livestock (Poultry(Broiler, Layer, Turkey, Other), Swine (Starter, GRower, Swo), Cattle (Dairy, Calf, Others), Aquaculture (Salmon, Trout’s, Shrimps, Carp, Others), Pet Food, Equine) and by By Region – Global Forecast 2022-2032
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