According to MarketsandMarkets, the global feed plant-based
protein market size
is estimated to be valued at USD 2.5 billion in 2020 and is projected to reach
USD 3.4 billion by 2025, recording a CAGR of 6.3% in terms of value.
The feed plant-based
protein market is primarily driven by factors such as increase in demand for
plant-based pet food due to rise in awareness among the pet owners, pet owners’
inclination toward organic pet food ingredients, and innovative animal
husbandry techniques to improve meat quality augments demand for nutritional
plant-based protein.
Leading players
profiled in this report include the following:
·
DuPont (US)
·
Kerry Group (Ireland)
·
Ingredion (US)
·
Emsland Group (Germany)
·
AGRANA (Austria)
·
Avebe (Netherlands)
·
Kroner (Germany)
·
Batory Foods (US)
Download PDF
brochure
By source, the
pea segment is projected to grow at the highest CAGR during the forecast period
Based on source, the
pea segment is expected to be the fastest-growing during the forecast period.
This segment is rapidly growing and gaining popularity among feed plant-based
protein manufacturers as it is an allergen friendly with various functional
characteristics. Furthermore, pea proteins are used in alternatives to
conventional feed protein ingredients.
Market
Dynamics:
Drivers
·
Increase in demand for plant-based pet food due to rise in
awareness among the pet owners
·
Pet owners’ inclination toward organic pet food ingredients
·
Innovative animal husbandry techniques to improve meat quality
augments the demand for nutritional plant-based protein
Restraints
·
Stringent regulatory framework restrains international trade
·
Possibilities of nutritional and vitamins deficiency among pets
Opportunities
·
Technological advancements to develop plant-based protein for
feed
·
Focus on cannabis and aquatic plants as new and emerging
plant-based protein sources
Challenges
·
Concern over quality of feed due to GM adulteration
·
High initial investment costs involved for small & medium
enterprises
By livestock,
the pet segment is estimated to account for the largest share
The pet segment of the
feed plant-based protein is dominating the market. The plant-based pet food
trend is growing because the pet owners have been more inclined to consume a
meatless diet themselves. Moreover, protein preferences in dog and cat food
diets have been shown to closely mimic those of their vegan or vegetarian
owners, with more of these owners opting to feed their pets a diet consisting of
plant-based protein. Owing to these factors the segment is accounted for the
largest share.
Make an Inquiry
The Asia
Pacific region is projected to grow at the highest CAGR during the forecast
period
Asia Pacific is
projected to be the fastest-growing market for the period considered for this
study, due to increase in the demand and consumption of livestock-based
products, a rise in feed production, and the implementation of innovative
animal husbandry practices to improve the meat quality and output of other
livestock-based products. The increasing awareness about livestock nutrition
and healthy diet, modernization of the livestock industry, and the rise in
consumption of meat & other livestock-based products have led to an
increase in the size of the feed plant-based protein market.
The feed plant-based
protein market is segmented region-wise, with a detailed analysis of each
region. These regions include North America, Europe, Asia Pacific, and RoW
(South America, Middle East and Africa).
