PUBLISHER: The Business Research Company | PRODUCT CODE: 1413999
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413999
“Animal Derivatives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on animal derivatives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for animal derivatives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The animal derivatives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Animal derivatives encompass substances or products derived from animals and find applications across diverse industries as a valuable source of nutrients.
Key categories of animal derivatives include immunoglobulin, serum albumin, fibrinogen, and additional variants. Immunoglobulin represents a group of proteins generated by the immune system in response to foreign entities known as antigens. Ovine and bovine species are instrumental in various sectors, including the food and beverage industry, pharmaceuticals, cosmetics, pet food, and more.
The animal derivatives market research report is one of a series of new reports from The Business Research Company that provides animal derivatives market statistics, including animal derivatives industry global market size, regional shares, competitors with animal derivatives market share, detailed animal derivatives market segments, market trends, and opportunities, and any further data you may need to thrive in the animal derivatives industry. This animal derivatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The animal derivatives market size has grown strongly in recent years. It will grow from $11.85 billion in 2023 to $12.66 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed in the historical period can be ascribed to the traditional utilization within the food industry, the increasing global population, a rise in disposable income, cultural and dietary preferences, nutritional content, and the growing demand for protein.
The animal derivatives market size is expected to see strong growth in the next few years. It will grow to $16.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period is driven by ongoing population expansion, increasing urbanization and westernization, the growth of the middle-class consumer base, a shift towards health and wellness, and diversification in product offerings. Noteworthy trends expected in the forecast period encompass the proliferation of plant-based alternatives, advancements in processing technologies, integration into functional foods, global regulatory developments, and the surge of e-commerce and direct-to-consumer models.
The surge in expenditure on pet food is anticipated to drive the expansion of the animal derivatives market in the foreseeable future. Pet food constitutes commercially prepared nutrition tailored and produced for the dietary requirements and consumption of domesticated animals. In the realm of pet foods, animal derivatives serve as fundamental sources of proteins and assorted nutrients. As an illustration, figures from March 2023, sourced from the American Pet Products Association (APPA), a non-profit industry association in the US, disclosed a 16.2% surge in pet food spending in 2022, escalating to $58.1 billion compared to the preceding year. Consequently, the increased investment in pet foods significantly influences the demand for animal derivatives.
The advancing trend of urbanization is projected to propel the growth of the animal derivatives market in the foreseeable future. Urbanization encompasses the escalating concentration of populations in urban locales, encompassing the expansion and development of urban territories. This surge in urbanization invariably correlates with amplified requisites for animal-based proteins such as meat, eggs, and dairy produce. The burgeoning urban populace exhibits heightened consumption of protein sourced from animals, driven by factors such as augmented income levels and wider access to diverse food items. For instance, as per April 2023 data released by the World Bank, a US-based international financial institution supporting low- and middle-income nations, in 2023, 56% of the global populace, totaling 4.4 billion individuals, resided in urban precincts. This figure is anticipated to more than double by 2050, accentuating the role of rising urbanization in stimulating demand within the animal derivatives market.
Growing demand from the pharmaceutical industry is expected to propel the growth of the animal derivatives market going forward. The pharmaceutical industry refers to a sector of the healthcare industry dedicated to the research, development, manufacturing, and commercialization of drugs and medications. Animal derivatives play a role as both active and inactive ingredients in pharmaceuticals, and they are used in the production of drugs, including as binders, carriers, stabilizers, fillers, and colorants. For instance, according to the Livemint, a India-based business and financial daily newspaper, the Indian pharma industry is expected to see a growth of around 7% to 8% over FY24-FY25. Therefore, growing demand from the pharmaceutical industry is driving the growth of the animal derivatives market .
Innovation in products emerges as a prominent trend gaining traction within the animal derivatives sector. Leading market entities are introducing inventive offerings such as PureeX to fortify their market standing. As an instance, in April 2023, Protix, a Netherlands-based manufacturer specializing in food supplement ingredients, unveiled PureeX insect meat. This novel product, extracted freshly from insects, stands as a highly nutritious and enticing ingredient tailored for usage in pet foods. Additionally, it boasts a reduced carbon footprint, elevated antioxidant content, and exhibits antimicrobial properties, catering to the growing demand for sustainable and beneficial animal derivative-based products.
In April 2021, Eastman Chemical Company, a chemical manufacturer based in the United States, successfully acquired 3F Feed & Food for an undisclosed sum. This strategic acquisition played a pivotal role in broadening Eastman's product and solution portfolio while simultaneously extending the company's geographic reach. Notably, 3F Feed & Food, headquartered in Spain, specializes in the production of animal derivatives used in the manufacturing of pet food.
Major companies operating in the animal derivatives market report are ANZCO Foods Ltd., Rocky Mountain Biologicals Inc., Auckland BioSciences Ltd., LAMPIRE Biological Laboratories Inc., Proliant Biologics LLC, Sigma-Aldrich Co., Thermo Fisher Scientific Inc., Kedrion Biopharma Inc., LFB S.A, Octapharma AG, Takeda Pharmaceuticals Company, Sanofi S.A., Grifols S.A., Bayer AG, Commonwealth Serum Laboratories, Fusion Health Care Pvt. Ltd., Nippi Inc., Tessenderlo Group, Kewpie Corporation, Pure Ingredients, Ewald-Gelatine GmbH, Kerry Group, Darling International Inc., Gelken Gelatin Co. Ltd., Foodmate Co. Ltd., Weishardt Group, Trobas Gelatine BV, Nitta Gelatin Ltd., Gelita AG, Kraeber & Co. GmbH
North America was the largest region in the animal derivatives market in 2023. The regions covered in the animal derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the animal derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The animal derivatives market consists of sales of gelatin, bone meal, flesh, milk, eggs and fish oil. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.