Selbyville, Delaware, United States, November 4 2020 (Wiredrelease) Global Market Insights, Inc –:Animal feed protein ingredients market is expected to surpass USD 220 billion by 2026. Rising animal feed protein ingredients demand due to fostering agricultural business supported by rise in living standards globally will promote overall market growth.
Some major findings of the animal feed protein ingredients market report include:
Rising farmers focus towards healthy livestock to inhibit their deteriorating health conditions for enhanced productivity will support market expansion Major industry players are implementing various R&D programs for improved product utilization among livestock including poultry, swine, cattle, aquaculture, pet food and equine Major market participants in market are “Dupont, Burcon Nutrascience Corporation, ADM, Hamlet Proteins, Alltech, Catalysta, Koninklijke DSM N.V., Nutraferma LLC, CHS, Titan biotech and Proliver Market” for animal feed protein ingredients across poultry livestock accounted for the majority share and expected to grow further at the highest pace than the swine, cattle, and aquaculture the Asia Pacific attained majority share in the animal feed protein ingredients market
Swine livestock accounts for more than 20% share in the market due to rising prevalence of African Swine Fever (ASF) which is highly contagious that mainly affects pigs and wild boar with no vaccines found yet. Animal feed protein ingredients help in boosting immunity and nutritive value of livestock resulting in battling contagious viruses and high productivity which should propel product demand.
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Supportive initiatives including “We Care Initiative” enforced by U.S. national pork board, National pork producer’s council and state organizations representing farmers. The core values of this initiative include produce safe food, protecting & promoting animal wellbeing and protect the public. Thus, the aforementioned factors will drive animal feed protein ingredients market growth.
Rising pork consumption owing to persuading health benefits including a high content of protein, thiamin, selenium, niacin, vitamin B-6, riboflavin, phosphorus, zinc and potassium is likely to spur overall product demand.
As per animal feed protein ingredients industry analysis, companies are participating in manufacturing capabilities expansion to boost productivity and contribute to market growth. In March 2019, Kemin industries, a global nutritional ingredients producer announced its expansion of its existing manufacturing plant located in Chennai, India. The company will be investing USD 8 million for Chennai Plant 2 expansion. This additional capacity is to address the rising demand for specialized nutritional ingredients for South Asian animal protein market. Through this capacity expansion, the company will be able to increase its annual production output and cater wider customer base.
Rising fish meal production in Peru has strengthened South American animal feed protein ingredients market. Peru is the largest producer of fish meal and accounted for 16% of the total world’s fish meal production. Fish meal production in Peru was over 730 kilo tons in 2017 with an increase of 11% from 2016. In 2016, fish meal production drops down to 27% from 2015 up to 660 tons owing to the El Nino effects. The Peruvian fish meal production regained its position due to favorable climatic conditions which has positively impacted anchovy fish quality along with rise in fish meal imports to cater increasing demand. Thus, accelerating regional market growth.
Market participants are investing more on research & development activities to boost product innovations towards alternative protein sources including potato & lentil would ensure safe, easier and continuous supply of the ingredients. Companies are expanding their market reach by establishing multiple manufacturing units worldwide to withstand growing competition.
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(eTN): Animal Feed Protein Ingredients Market Size | Global Industry Analysis 2020 to 2026 | re-post license | post content
