Houston, TX, Jan. 25, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Processed Animal Protein Market By Form (Solid And Liquid), By Source (Pork, Beef, Poultry, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Processed Animal Protein Market size & share in terms of revenue was valued at USD 12.6 billion in 2021 and it is expected to surpass around USD 15.2 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 2.8% during the forecast period 2022 to 2028.”
What is Processed Animal Protein? How big is the Processed Animal Protein Industry?
Processed Animal Protein Report Coverage & Overview:
Processed animal proteins (PAP) are used to produce healthy animals by the virtue of them being nutritionally rich feed ingredients. They are manufactured from animal by-products that are rendered qualified for human consumption. Processed animal proteins not only act as a great source of animal feed but also prevent food wastage by utilizing the immense amount of by-products created in the meat manufacturing industry. Since animal proteins in general are full of bio-functional properties, they are highly preferred in making food ingredients providing young animals with proper nutrition.
However, every country has its own set of restrictions and laws that regulate the manufacturing, import, and export of PAP owing to the controversial nature of the product in terms of feeding proteins generated from animals to animals, especially cattle or browsing mammals. In most cases, they are strictly used in feed for monogastric animals. In one-third of countries, the production and import of PAP fall under the World Organization of Animal Health (OIE). As per the recent regulation, in Europe, the use of PAP for feeding farmed animals is strictly prohibited. Hence it is important to optimize the products generated from the meat industry to be redirected toward more valuable thus encouraging sustainability. There are various varieties of processed animal protein present in the global market. They include blood meal which is around 90 to 95% protein, feathers consisting of 80 to 85% protein, poultry with over 65 to 68% protein, pork products containing 55 to 65% protein, and fishmeal.
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Global Processed Animal Protein Market: Growth Dynamics
The global processed animal protein market is projected to benefit from the rising concerns of environmental pollution for the meat industry. As per People for Ethical Treatment of Animals, the meat industry is one of the largest contributors to food shortages and pollution. Meat is known to contribute more than 60% of the greenhouse gasses generated by the food industry. The majority of the products generated in the meal industry go to waste or are termed by-products. For instance, in bovine slaughter, an average of 275 kilograms per ton of the total weight killed is qualified as solid waste.
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Due to the harsh impact, there are multiple governing bodies and regulatory procedures placed to make sure that the by-products are directed toward better use like the manufacturing of processed animal protein so that food wastage can be reduced and environmental impacts can be controlled. These measures are imposed in every country with varying standards but all manufacturers have to adhere to this protocol which is projected to aid global processed animal protein market growth.
The extremely strict government regulations may restrict global market growth, although a rise in the pet adoption rate is expected to provide growth opportunities. The lengthy approval process for distribution may challenge global market growth
COVID-19 Impact Analysis
Covid-19 impacted the global market cap owing to the various volatile and uncertain situations that arose as a consequence of supply chain restrictions and the closure of manufacturing units. Availability of raw materials became a major concern and regions that had a high import value of processed animal protein suffered the most because of travel bans. However, the demand in the market was growing driven by the increased adoption rate of house animals or pets.
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|Market Size in 2021||USD 12.6 billion|
|Projected Market Size in 2028||USD 15.2 billion|
|CAGR Growth Rate||2.8% CAGR|
|Key Market Players||Leo Group ltd., FASA Group, Ridley Corporation Limited, Valley Proteins, Nordfeed, West Coast Reduction, SYSCO Corp., BOYER VALLEY COMPANY, LLC, Tyson Food, Inc., Sonac, Smithfield Foods Inc., JBS USA Holdings Inc., and OSI Group LLC|
|Key Segment||By Form, By Source, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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Processed Animal Protein Market: Segmentation Analysis
The global processed animal protein market is segmented based on source, form, and region.
Based on the source, the global market is divided into pork, beef, poultry, and others. There is a huge surge in demand for proteins originating from the poultry section driven by its accessibility, availability, high value, and versatility. Poultry farms do not require as expensive maintenance as other forms encouraging the market players to invest in this section. Other forms like beef and pork have witnessed a lesser adoption rate owing to the increasing number of reported health risks associated with their consumption. For instance, as per reports, the US beef consumption per capita has reduced by 1/3rd since the 1970s.
By form, the global market is segmented into solid and liquid. The global market is dominated by the solid form of proteins owing to their easy storage and preference for human as well as pet consumption. Liquid forms need specialized storage units which may increase the overall cost of production and also require extra care for transportation. Since processed animal proteins have wide applications, they can be used in aqua feed, fertilizers, compound feed, etc. The inclusion level may vary anything from 5% to 30 % completely dependent on the species being fed.
The global Processed Animal Protein market is segmented as follows:
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Some of the main competitors dominating the global Processed Animal Protein market include -
- Leo Group ltd.
- FASA Group
- Ridley Corporation Limited
- Valley Proteins
- West Coast Reduction
- SYSCO Corp.
- BOYER VALLEY COMPANY LLC
- Tyson Food Inc.
- Smithfield Foods Inc.
- JBS USA Holdings Inc.
- OSI Group LLC
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Processed Animal Protein market is likely to expand at a CAGR of around 2.8% during the forecast period (2022-2028).
- In terms of revenue, the Processed Animal Protein market size was valued at around US$ 12.6 billion in 2021 and is projected to reach US$ 15.2 billion by 2028.
- Based on form segmentation, the solid was predicted to show maximum market share in the year 2021
- Based on source segmentation, poultry was the leading revenue-generating source in 2021.
- On the basis of region, North America was the leading revenue generator in 2021
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- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product Type, By Application, By End Use, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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The global processed animal protein market is projected to generate the highest revenue from North America owing to increased expenditure on animal care. The USA is expected to lead the regional growth owing to the ever-expanding meat industry in the region resulting in the production of tons of by-products that have to be put to good use. Europe is projected to grow at a high CAGR driven by the aquafeed sector in the region. In European territories, aquaculture is one of the leading means of food production out of which salmon is the most farmed fish. Salmon is a carnivorous fish which means that processed animal protein acts as a great source of feed for this fish species. Since 2013, non-ruminant PAPs have been allowed in Europe as aqua feed.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- In July 2021, Feednova announced that it will launch its first facility for producing high-protein feed and pet food products by processing animal by-products. The unit is expected to cost the company a total of USD 20 million. The plant can recycle over 220 metric tons of animal by-products in a single day producing more than 90 metric tons of protein-rich food items.
- In September 2020, FGV Holdings Berhad, a Malaysian animal feed company, announced the launch of the ALMA animal nutrition brand in the country. The newly launched brand is a high-quality chicken feed that will be manufactured by using 30,000 metric tons of by-product materials every year.
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FREQUENTLY ASKED QUESTIONS
- Which key factors will influence processed animal protein market growth over 2022-2028?
- What will be the value of the processed animal protein market during 2022-2028?
- Which region will contribute notably towards the processed animal protein market value?
- Which are the major players leveraging the processed animal protein market growth?
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