Animal Protein Ingredients Market Competition Dynamics In Forecast Period
Proteins extracted from various sources have become a necessity in the food and pharmaceutical industry. There are various sources from which proteins are extracted- plants, animals, eggs, and microbes. The animal protein ingredients include bone meal, blood meal, fish meal, feather meal, etc. They are usually derived from animal by-products. The products like hydrolase collagen and fish oil are very much dependent on the animal protein ingredients market. The animals are a much richer source of proteins and hence, the animal protein ingredients market lever an advantage and growth over its parallel industry, that is, plant-based proteins.
Animal Protein Ingredients Market: Segmentation
The animal protein ingredients market can be segmented on the basis of source and applications.
On the basis of source, the animal protein ingredients market can be segmented into fish and meat. The meat segment is further sub-segmented on the basis of animal origin, that is, pork, beef, and poultry. The fish derived proteins are typically used in the dietary supplements and cosmetic industry.
On the basis of applications, the animal protein ingredients market can be segmented as feed industry, pet food industry, the pharmaceutical industry, dietary supplements and food industry. The most common use of the animal protein ingredients is in the animal feed industry.
Animal Protein Ingredients Market: Drivers, Restraints, and Trends
The animal protein ingredients are mainly used for consumption and it is found that both animals and humans show better digestibility than other protein derived from other sources such as plants and microbes. This is an advantage for the animal protein ingredients market over proteins manufactured from other sources. The evident growth for the animal protein ingredients market is evaluated by the growing meat industry because a large share of the animal-based proteins is obtained from the animal by-products from the slaughterhouse industry.
The scientific fact that the animal proteins are a more abundant source of nutrients and are considered a whole food as compared to plant and other sourced proteins, also contribute to the growth of the animal protein ingredients market. Also, fishmeal which is an important source of animal protein ingredients, also promote the growth of the animal protein ingredients market, which can be attributed to the growing aquaculture industry.
Also, the trend of the sustainable mode of production of meat and feed is being followed across the world and contributes to the animal protein ingredients market as a macroeconomic factor. On the other hand, people are opting for more and more vegan and vegetarian sources for health benefits, and this may hinder the growth of the animal protein ingredients market.
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Animal protein Ingredient Market: Regional Outlook
The animal protein ingredient market is expected to grow in Asia Pacific owing to the growth in demand for value-added products and expansion in distribution channels offering animal protein ingredients. In Asia, the health concerns regarding the outbreak of several fatal diseases like Asian bird flu have raised issues regarding the safety of animal protein ingredients and may retard the growth of the animal protein ingredients market in Asia. The North America population has a clear preference for animal-based protein supplements, and as protein is the major part of the food consumed in North America, there are clear opportunities for the growth of animal protein ingredients market in this region.
A large share of protein-rich animal feed is exported by Latin America, which indicates growth for the animal protein ingredients market in this region. The Middle East contributes to the animal protein ingredient market by its large share in the import of animal-based proteins. In Europe, there is a certain shift in consumer preference from animal-based proteins to plant-based proteins, in a move to protect the environment and reduce animal farming, which may result in a relatively slower growth for the animal protein ingredients market in this region.
Animal Protein Ingredients Market: Key Players
The key players in animal protein ingredient Omega Protein Corporation, Gelita AG, Bovogen biologicals Pty. Ltd., Novozymes, BHJ A/S, Sonac, and Valley Proteins, Inc.
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