Feed Plant-based Protein Market

New Revenue Pockets: Increase In Demand for Plant-Based Pet Food Due to Rise In Awareness Among the Pet Owners is Going to Drive the Feed Plant-Based Protein Market

According to MarketsandMarkets, the global feed plant-based protein market size is estimated to be valued at USD 2.5 billion in 2020 and is projected to reach USD 3.4 billion by 2025, recording a CAGR of 6.3% in terms of value. The growth of feed plant-based protein market can be attributed to the increase in demand for plant-based pet food due to rise in awareness among the pet owners, pet owners’ inclination toward organic pet food ingredients, and innovative animal husbandry techniques to improve meat quality augments demand for nutritional plant-based protein. European region dominated the global feed plant-based protein market.

Feed plant-based protein refers to those proteins that are derived from various pulses and grains. Proteins are polymers of amino acids, which are used in livestock feed and pet food for their nutritional and functional properties. Feed plant-based proteins are offered to livestock such as ruminants, swine, poultry, aquatic animals, and pet food. Animals are unable to produce amino acids, which is hence required to be provided with protein diets. This poses as a crucial factor that promotes overall plant-based protein product demand.

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European region dominated the global feed plant-based protein market. It is largely driven by new product developments and sustainability concerns over conventional low nutritional protein ingredients. Humans across multiple regions are resorting to vegan trends and lifestyles, which has mirrored the shift toward plant-based pet products in Europe, which has resulted in businesses investing heavily in the development of plant-based pet food.

The European region consists of some major manufacturers from the feed plant-based protein market, such as Kerry Group (Ireland), Roquette (France), AGRANA (Austria), and Avebe (Netherlands). These key players have supported the usage of plant-based protein in this region by offering technologically advanced equipment for the extraction and usage in feed and pet food. They focus on undertaking a strategic collaboration with feed and pet food manufacturers to increase the usage of plant-based protein and enhance awareness among small- & medium-sized manufacturers.

Among various sources of feed plant-based protein, soy accounts for the major market share in the overall feed plant-based protein market. Soybean contains high nutritional protein enrichment that contains all eight essential amino acids, which are beneficial for animal nutrition. On the other hand, soy protein products are used in feed and pet food in order to increase water and fat retention and also to improve nutritional values. It has been a substitute for traditional chemical-based feed ingredients, and soy proteins have rapid dispersibility and excellent suspension properties. Owing to these factors soy protein is estimated to account for most of the share in the feed plant-based protein market.

Based on livestock, the ruminants segment is projected to be the fastest-growing during the forecast period. The plant-based protein ingredients, besides increasing the production of end products obtained from ruminants, also improve their health and immune systems. The requirement for plant-based protein ingredients has increased in North America and Europe as these regions are the leading beef producers and consumers.

Among various types, the concentrates segment is projected to be the fastest-growing from 2020 to 2025. Feed plant-based protein concentrates deliver balanced nutrition, offering fibers and micronutrients, along with protein. They are sustainably sourced from soy, peas, lentils, and fava beans, which can generally comprise up to 80% of protein content. Liquid extraction of a protein concentrate starts with protein coagulation and separation of the precipitated proteins and insoluble fibers using a decanter. The production of plant protein concentrates is of great interest in the feed industry due to greater requirement for protein, and an increase in awareness among pet owners, especially in developing countries.

Related Reports:

Feed Plant-based Protein Market by Source (Soy, Wheat, Pea, Sunflower), Livestock (Pets, Swine, Ruminants, Poultry, and Aquatic Animals), Type (Concentrates & Isolates), and Region (North America, Europe, Asia Pacific, and RoW) - Global Forecast to 2025

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Report Code
AGI 7819
RI Published ON
1/21/2021
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