The global hydrolyzed animal protein market size is poised for significant growth, projected to reach a valuation of US$ 838.43 million by 2033, from an estimated US$ 463.78 million in 2023. This promising expansion reflects a compound annual growth rate (CAGR) of 6.1% over the forecast period.
Growth Factors Fueling the Market
Hydrolyzed animal protein, produced through the hydrolysis of animal-origin foods, has gained popularity due to its numerous health benefits. As consumer awareness of these benefits increases, so does the demand for hydrolyzed animal protein in diets, particularly within the functional foods and beverages sector.
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Several key factors are driving this market growth:
- Rising Consumer Awareness and Demand for Functional Foods: Consumers are increasingly seeking nutrient-rich and functional foods, spurred by evolving lifestyles and higher disposable incomes. This trend is particularly pronounced in protein-centric diets, which have significantly boosted the demand for hydrolyzed animal protein in the food and beverage industry.
- Expansion in Animal Nutrition and Feed Additives: The animal nutrition and feed additive industries are major contributors to market growth. The increasing number of livestock producers drives the demand for hydrolyzed animal protein, particularly as protein hydrolyzates become more prevalent in sports nutrition and dietary supplements.
- Opportunities from the Veganism Trend: Although primarily an animal-derived product, the growing trend towards veganism is expected to create new development opportunities. This trend, combined with the rising demand for plant- and animal-based protein hydrolyzates, supports the market’s expansion.
- Innovations in Protein Isolates and Concentrates: The development of various protein isolates and concentrates has led to a broader application of hydrolyzed animal protein in products such as dairy goods, dietary supplements, bakery items, confectionery, and infant formula.
However, the market faces challenges, including high R&D and production costs, and stringent government regulations on the disposal of fish waste. Despite these obstacles, the superior protein content of animal-based sources compared to plant-based counterparts continues to drive market growth.
Historical Market Performance and Future Outlook
Between 2018 and 2022, the hydrolyzed animal protein market grew at a CAGR of 5.1%, rising from US$ 209.92 million to US$ 282.92 million. Looking ahead, the market is expected to maintain its robust growth trajectory, fueled by increasing demand in the pharmaceutical industry, sports nutrition, and dietary supplements.
Regional Insights
- North America: The region dominates the global market, thanks to a well-established food industry and advanced processing technologies. The growing popularity of protein-centric diets and functional foods is expected to further drive demand.
- Asia Pacific: High market growth is anticipated, driven by an aging population, increased demand for nutritional supplements among pregnant women, and a rising acceptance of protein components due to fitness centers’ promotional efforts.
- Europe: The demand for baby formula and weight management products, combined with rising consumer health consciousness, supports market growth. However, high processing costs and competition from plant-based proteins may pose challenges.
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Competitive Landscape
Key players in the global hydrolyzed animal protein market include Lactalis Ingredients, Arla Foods Ingredients Group P/S, Fonterra Co-operative Group, Kerry, Inc., Novozymes A/S, Kemin Industries, Inc., BRF S.A., Cargill, Inc., Essentia Protein Solutions, and GELITA.
Recent developments include:
- Optimum Nutrition launched a new Gold Standard Protein Shake in August 2022.
- Kerry opened a state-of-the-art facility in Jeddah, Saudi Arabia, in January 2022.
- Dragon Pharma introduced a whey protein supplement derived from hydrolyzed whey protein in April 2019.
- Fonterra JV partnered with Tillamook Country Creamery Association and a three-mile canyon farm to release Pro-Optima TM, a functional whey protein concentrate, in June 2022.
Market Segmentation
- By Type: Dairy Proteins, Meat, Poultry & Beef Proteins, Fish Proteins
- By Form: Powder, Liquid
- By Application: Pharmaceuticals and Nutraceuticals, Food, Cosmetics and Personal Care, Feed
- By Region: North America, Europe, Asia Pacific, Middle East and Asia
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