The Global Feed Plant-Based Protein Market is poised to grow from 2024 to 2028 driven by increasing demand for plant-based protein sources.
According to the TechSci Research report titled “Feed Plant Based Protein Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the market is expected to experience significant growth during this period. This growth is primarily fueled by the rising popularity of plant-based protein sources. Plant-based proteins offer similar nutritional benefits as animal or synthetic proteins but with fewer health impacts, easier digestibility, and anti-allergic properties, further boosting market expansion.
For instance, in February 2022, ADM released its outlook on alternative proteins across various sectors, highlighting ongoing industry developments.
Furthermore, the market is being further stimulated by the growing demand for health consciousness and innovation technology to improve meat quality.
However, high cost of plant-based proteins can slow down market growth. Also, increasing soy-free and gluten-free trend can further slowdown market growth.
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Global Feed Plant Based Protein Market is segmented based on type, livestock, source, and region.
Based on type, the market is categorized into concentrates, isolates, and others. Isolates are expected to hold the largest market share in the forecast period, 2024-2028. This is due to increasing demand for processed food products.
Based on livestock, the market is fragmented into poultry, ruminants, swine, aquatic animals, and others. Poultry is expected to hold the largest market share in the forecast period, 2024-2028. This is due to rising preferences for a specific color of yolk and meat for consumption.
Based on source, the market is segregated into soy, wheat, pea, sunflower, and others. Soy segment will experience the highest market share during the forecast period, 2024-2028. Due to its high nutritional value as well as easy breakdown and cheaper cost as well as it contains ingredients such as glutamine and BCAAs, which aid in muscle recovery and rapid absorption.
Major companies operating in the Global Feed Plant Based Protein Market are:
- The Archer-Daniels-Midland Company
- Cargill, Incorporated
- Roquette Freres SA
- Ingredion Incorporated
- Bluestar Adisseo Co., Ltd
- Kerry Group plc.
- Wilmar International Ltd
- AGRANA Beteiligungs-AG
- Avebe UA
- Alltech, Inc.
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“Europe is expected to grow at the highest rate during the forecast period due to increasing preference for natural ingredients in the pet food and feed industry. Additionally, consumers are cutting back on the consumption of meat for environmental, health, and animal welfare reasons creating lucrative opportunities for market growth. Furthermore, in North America, expanding the vegan population base, increasing awareness about the health benefits of plant-based products, and an increasing number of new product launches create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Feed Plant Based Protein Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Concentrates, Isolates, Others), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Others), By Source (Soy, Wheat, Pea, Sunflower, Others), By Region and Competition, has evaluated the future growth potential of global Feed Plant Based Protein market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Feed Plant Based Protein Market.”
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