The Global Animal Protein Market stood at 9. 16 billion usd in 2021 and is projected to register a CAGR of 3. 49% to reach 10. 88 billion usd in 2026. Key Highlights Largest Segment by Product Type - Whey Protein : Constant product developments, rising demand in beverage applications, and high nutrition profiles remained the major factors boosting whey protein demand across the globe.
New York, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Animal Protein Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026" - https://www.reportlinker.com/p06321764/?utm_source=GNW
Largest Segment by End User - Food and Beverages : The F&B segment led the market owing to high demand recorded by bakery & beverage segments due to consumer inclination towards more healthy protein-based food and drinks.
Fastest Growing Segment by Product Type - Collagen : Collagen is anticipated to grow the fastest as more people become aware of its ability to improve digestion, build lean muscle mass, boost immunity, and treat joint pain.
Fastest Growing Segment by End User - Personal Care and Cosmetics : Rise in demand for natural ingredients and protein enriched skin, body and hair care products is driving the segment. Thus the segment is projected to attain fastest growth.
Key Market Trends
Largest Segment By End User : Food and Beverages
Food and beverage emerged as the largest animal protein end-user segment. The market is largely benefitted from the growing demand for high-end, premium food products. Claims such as organic, sustainable, grass-fed, etc., are gaining popularity among consumers, leading manufacturers to roll out suitable offerings. In response, manufacturers such as Arla, Milk Specialties Global, and Kruger were seen expanding their clean-label animal protein production applicable to the food and beverage segment. Moreover, the segment is set to record a significant volume CAGR of 3.28% during the forecast period.
On the other hand, supplements remained the second-largest segment, followed by animal feed, and personal care and cosmetics. Among supplements, the sports nutrition sub-segment led the market owing to increasing fitness activities and consumers opting for supplements to aid their workout regime. In 2020, sports nutrition held a share of 75% of animal protein consumed by the supplements sector. In terms of growth, personal care and cosmetics outpaced other segments, recording a projected volume CAGR of 5.16% during the forecast period.
Largest Region : Asia-Pacific
Asia-Pacific held the largest share in the market, led by China. The demand is fairly led by growing active lifestyle users and their demand for high-protein diets. Particularly in China, about 88% of fitness enthusiasts happen to choose high-protein foods, including protein powders, shakes, etc., as a major source of energy and to strengthen muscles. The regional market is also highly benefitted by major players such as Myprotein trying to localize their offerings according to the taste and preference of certain countries. Nonetheless, besides the largest share, with a volume CAGR of 3.83%, the region is set to outpace the global growth rate over the forecast period.
The market is followed by North America and Europe, which are driven by high whey protein integration in the protein powder and snack bar categories. In 2020, whey protein accounted for about 47% and 30%, respectively, of the overall animal proteins demanded in the two regions.
The Global Animal Protein Market is fragmented, with the top five companies occupying 26.02%. The major players in this market are Darling Ingredients Inc., Fonterra Co-operative Group Limited, Glanbia PLC, Kerry Group PLC and Royal FrieslandCampina NV (sorted alphabetically).
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