Functional Animal Protein Market - Forecasts from 2022 to 2027

The global functional animal protein market is projected to witness a healthy CAGR during the forecast period. The increased consumer consciousness towards health and growing awareness about the role of protein-rich foods in muscle building and weight management are the major forces driving the functional animal protein market. Moreover, the rising middle-class population, changing dietary patterns, and increased per capita spending on health supplements have also contributed to the growth of the market. However, the dependence of the functional animal protein market on the price fluctuations of distribution channel ingredients and end-user market dynamics acts as a major challenge.

By Application

On the basis of application, the global functional animal protein market is segmented into Dietary Supplements, food & beverages, pharmaceuticals, cosmetics, personal care, and Animal Feeds. The use of functional animal proteins in dietary supplements and the food and beverage market is growing rapidly to meet global nutritional deficiencies. Functional animal proteins also have a significant contribution to the healthcare sector for the production of insulin, gelatine, and other purposes.

By Distribution channel

By distribution channel, the global functional animal protein market is segmented as online and offline. The offline segment is expected to hold a significant share of the market owing to the high visibility of convenience stores and supermarkets as key selling channels in developing economies like China, India, and Brazil. Besides, the online channel is anticipated to grow at a substantial rate on account of the growing popularity of e-commerce around the globe.

By Geography

On the basis of geography, the global functional animal protein market is segmented into North America, Europe, the Middle East, and Africa, Asia-Pacific, and South America. North America is expected to grow at a significant rate during the forecast period due to increased consumer awareness and spending. Europe is likely to see a surge in the functional animal protein market owing to an increase in demand for beef and pork. An increasing number of gyms and fitness centers due to rising awareness among people in the Asia-pacific region will accelerate the growth of the market in this region.

Competitive Landscape

The global functional animal protein market is highly competitive owing to the presence of several multinational and local players. Market growth, the development of innovative solutions, increased consumer demand, and favorable government policies are some of the key factors attracting new players in the market and thereby enhancing competitive rivalry. The competitive landscape details products, strategies, and investments being made by key companies to boost their market share.

Some of the major players discussed in this report are Cargill Inc., Arla Foods, Maple Leaf Foods, Bovogen Biologicals Pty Ltd, and Cooke Inc., among others.

Recent developments:

• DSM-Novozymes Alliance launched ProAct 360TM, a second-generation protease, in June 2021. This innovative feed solution provides more consistent growth performance improvements, as well as improved matrix values for key amino acids and faster action.
• DSM launched SustellTM, an intelligent sustainability service, in May 2021 to improve the environmental footprint and profitability of animal protein production. DSM is emphasizing its commitment to its strategic initiative We Make It Possible through SustellTM, which is driving a robust and achievable global transformation toward sustainable animal protein production.

COVID-19 Impact on the Functional Animal Protein Market

The widespread COVID-19 virus hampered the development of numerous industries. However, the pandemic had a positive impact on the healthcare industry because people adopted healthier eating habits, which increased product demand. During the pandemic, rising awareness of the benefits of consuming dietary supplements and plant-based proteins aided market growth. Furthermore, these advantages increased consumer preference for the product in terms of health, wellness, and protein sustainability.

Market Segmentation:

• By Form

Dry

Liquid

• By Application

Dietary Supplements

Food & Beverages

Pharmaceuticals

Cosmetics and Personal Care

Animal Feeds

• By Distribution channel

Online

Offline

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• United Kingdom
• Spain
• Others

Middle East and Africa

• Israel
• Saudi Arabia
• Others

Asia Pacific

• China
• Japan
• South Korea
• India
• Others