PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1489383
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1489383
According to Stratistics MRC, the Global Feed Fats & Protein Market is accounted for $7.93 billion in 2023 and is expected to reach $12.99 billion by 2030 growing at a CAGR of 7.3% during the forecast period. Feed fats are lipid supplements added to animal diets to provide concentrated energy. These fats serve as a dense source of calories, aiding in meeting the energy requirements of livestock for growth, reproduction, and maintenance. Protein supplements in animal feed are sources of amino acids crucial for growth, muscle development, and overall health. These proteins complement the dietary protein intake to ensure animals receive adequate nutrition for optimal performance and health.
According to the Food and Agriculture Organization (FAO), India's cattle population has grown from 191.9 million in 2018 to 193.2 million in 2021. In addition, milk production in densely populated countries like India reached 108.3 million metric tons in 2021, reflecting a substantial 20.6% increase from the figures recorded in 2018.
Growing awareness of animal nutrition
With a growing emphasis on animal nutrition among farmers and producers, there's a heightened need for superior feed components containing ample fats and proteins to elevate animal growth and productivity. Additionally, discerning consumers prioritize products sourced from animals fed with nutritionally rich diets, encouraging the adoption of high-quality feed fats and proteins in animal feed compositions. This heightened awareness stimulates a surge in demand for specialized feed supplements, fostering innovation and market development.
Stringent health and safety regulations
Stringent health and safety regulations in feed fats & protein are necessary to ensure product quality, labeling accuracy, and traceability, safeguarding animal and human health. Meeting rigorous standards requires significant resources and time, limiting market access for non-compliant products and potentially stifling innovation. Additionally, adherence to regulations may elevate prices, reducing market competitiveness and demand.
Growing meat consumption in emerging economies
As people in emerging economies experience rising incomes and urbanization, there is a shift towards diets rich in animal products. This trend drives the need for higher quantities of livestock feed, which contain fats and proteins essential for animal growth and development. Consequently, feed manufacturers and suppliers must meet the increased demand by producing and distributing a greater volume of feed fats and proteins. This results in expansion opportunities for companies involved in the production, processing, and distribution of feed ingredients, driving growth in the feed fats and protein market.
Competition from plant-based alternatives
Competitive plant-based alternatives for feed fats & protein include soybean meal, pea protein, and canola meal. These alternatives offer sustainable and cost-effective sources of essential nutrients, diverting demand from traditional animal-derived ingredients. As consumers increasingly prioritize sustainability and ethical considerations, the market faces the challenge of adapting to meet changing preferences. This shift reduces demand for conventional feed fats & protein, impacting market growth and prompting the need for innovation and diversification.
Covid-19 Impact
The covid-19 pandemic disrupted the feed fats and protein market, initially causing supply chain disruptions and logistical challenges. Lockdown measures led to labor shortages, affecting production and distribution. Reduced consumer spending impacted demand for meat and dairy, affecting feed ingredient requirements. Fluctuating commodity prices and currency devaluations added to market uncertainty. Increased consumer focus on health and nutrition also drove demand for high-quality animal products, stimulating the market's recovery.
The growth promoters segment is expected to be the largest during the forecast period
The growth promoters segment is estimated to have a lucrative growth. Feed fats and proteins are essential components of animal diets, providing energy, amino acids, and other nutrients crucial for optimal growth and development. By incorporating specific fats and proteins into animal feed formulations, producers can enhance feed efficiency, promote weight gain, and improve overall animal performance. This strategic supplementation supports efficient livestock production practices, enabling producers to meet the growing demand for meat, dairy, and other animal products in a sustainable and cost-effective manner.
The livestock feed segment is expected to have the highest CAGR during the forecast period
The livestock feed segment is anticipated to witness the highest CAGR growth during the forecast period. Feed fats and proteins play a crucial role in livestock feed applications, providing essential nutrients for animal growth, development, and overall health. Incorporating optimal levels of fats and proteins in livestock diets ensures balanced nutrition, improves feed digestibility, and enhances animal performance. Additionally, the selection of high-quality fats and proteins in feed formulations helps to meet the specific dietary requirements of different livestock species, contributing to overall productivity and profitability in the livestock industry.
The Asia-Pacific region's feed fats and proteins market is experiencing significant growth driven by factors such as increasing meat consumption, expanding livestock production, and rising awareness of animal nutrition. Rapid urbanization and income growth in countries like China and India are fueling demand for meat and dairy products, boosting the need for feed ingredients. The region's diverse agricultural landscape offers opportunities for the production and utilization of various feed fats and proteins, driving innovation and market expansion.
The North American feed fats and proteins market is characterized by steady growth, supported by a well-established livestock industry and a strong focus on animal nutrition. With a large meat-consuming population and advanced agricultural practices, the region demands high-quality feed ingredients to optimize livestock health and performance. The presence of key market players and robust research and development activities contribute to the region's position as a leader in the global feed fats and proteins market.
Key players in the market
Some of the key players profiled in the Feed Fats & Protein Market include Cargill Incorporated, Royal DSM N.V., Darling Ingredients Inc., Bunge Limited, Wilmar International Limited, Louis Dreyfus Company, Archer Daniels Midland Company, Nutreco N.V., ADM Animal Nutrition, Omega Protein Corporation, Scoular Company, Roquette Freres, Berg + Schmidt GmbH & Co. KG and Sojaprotein.
In May 2023, Cargill launched plant-based patty and ground products. The new offerings are part of Cargill's inclusive approach to the future of protein - advancing both animal and alternative protein products to meet the expected 70% growth in global demand for protein over the next 30 years.
In January 2022, Royal DSM, a global purpose-led science-based company, reveals its new integrated food & beverage operating structure which unifies three areas of DSM's nutrition business: Food Specialties, Hydrocolloids, and part of its Nutritional Products group. The unification was made to closely align with emerging customer and market needs. DSM says the new structure will deliver a "one-stop-shop" of solutions for food and drink brands.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.