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Redding, California - April 29, 2024

Animal Protein Market to be Worth $42.63 Billion by 2031

Animal Protein Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Protein {Milk, Whey Protein}, Egg Protein), Form (Liquid), Application (Food & Beverage {Bakery and Confectionery, Dairy}, Animal Feed, Pharmaceuticals) - Global Forecast to 2031

Meticulous Research^®— a leading global market research company, published a research report titled ‘Animal Protein Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Protein {Milk, Whey Protein}, Egg Protein), Form (Liquid), Application (Food & Beverage {Bakery and Confectionery, Dairy}, Animal Feed, Pharmaceuticals) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global animal protein market is projected to reach $42.63 billion by 2031, at a CAGR of 4.5% during the forecast period 2024–2031. The growth of this market is being propelled by factors such as the rising consumer awareness towards nutritional food, increasing demand for health supplements, rising population and urbanization, and rising need for protein-rich diets. Moreover, the growing emerging economies and technological development in the dairy industry are expected to offer growth opportunities for the players operating in this market. Additionally, increasing health and wellness and sustainable and ethical sourcing are major trends in the global animal protein market.

However, the growing demand for alternative proteins and rising milk allergies & lactose intolerance are expected to hinder the market growth to a certain extent. Furthermore, the increasing consumer awareness about the benefits of a vegan diet poses a challenge to market expansion.

Key Players

Some of the key players operating in the global animal protein market are Kerry Group plc (Ireland), Arla Foods amba (Denmark), Fonterra Co-Operative Group Limited (New Zealand), Royal FrieslandCampina N.V. (Netherlands), Groupe Lactalis S.A. (France), AMCO Proteins (U.S.), Glanbia plc (Ireland), Hilmar Cheese Company, Inc. (U.S.), Kewpie Corporation (Japan), Darling Ingredients Inc. (U.S.), Savencia Fromage & Dairy (France), Nitta Gelatin Inc. (U.S.), Agropur Cooperative (Canada), and Essentia Protein Solutions (Denmark).

The global animal protein market is segmented by type (dairy proteins {milk protein [milk protein concentrates, milk protein isolates, milk protein hydrolysates], whey protein[whey protein concentrates, whey protein isolates, whey protein hydrolysates], casein & caseinates}, egg protein {whole egg powder, egg white powder, and egg yolk powder}, gelatin {bovine gelatin, porcine gelatin, poultry gelatin, and others}, and other animal proteins), form (solid and liquid), application (food & beverage {bakery and confectionery, dairy products, beverage, meat, poultry, and seafood, snacks and cereals, and other foods}, nutritional supplements, animal feed, pet food, pharmaceuticals, and other applications), and geography (North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the country level.

Based on type, the global animal protein market is segmented into dairy proteins, egg proteins, gelatin, and other animal proteins. In 2024, the dairy proteins segment is expected to account for the largest share of 52.1% of the animal protein market. The large market share of this segment can be attributed to the increasing awareness about the health benefits of dairy proteins and rising demand for dairy protein-based infant formula and nutritional supplements. Furthermore, dairy proteins offer a complete amino acid profile, making it ideal for manufacturers looking to create protein-rich products. Its consumption is rapidly increasing in protein bars, meal replacement powder, high protein clinical formulation, and dietetic products.

Based on form, the global animal protein market is segmented into solid and liquid. The solid segment is expected to register a higher CAGR during the forecast period of 2024–2031. The growth of this segment is driven by its stability during processing and storage, making it ideal for use in various food manufacturing applications. Furthermore, the higher demand with ease in handling & transport, cost-effectiveness, and competence to maintain the stability of the ingredient are expected to support the growth of this market.

Based on application, the global animal protein market is segmented into food & beverage, nutritional supplements, animal feed, pet food, pharmaceuticals, and other applications. In 2024, the food & beverage segment is expected to account for the largest share of the animal protein market. The large market share of this segment can be attributed to the growing awareness and demand for protein-rich food products, changing consumer preferences, and increasing demand for healthy and functional ingredient-based processed food products. Furthermore, the growing consumer demand for healthy and premium food & beverage products is expected to support the growth of this market.

Based on geography, the global animal protein market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is projected to register the highest CAGR of 4.6% during the forecast period. The fast growth of this region is mainly attributed to the rising technological advancements in China and India’s food & beverage industry and regional population growth. Furthermore, the growing health consciousness among consumers, the growing food & beverage industry, rapid urbanization, and increasing awareness regarding the importance of protein-rich diets are expected to support the growth of this region.

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Key Questions Answered in the Report:

What are the historical market sizes and growth rates of the global animal protein market?
At what rate is the global animal protein demand projected to grow over the next 5–7 years?
What are the major factors impacting market growth at the regional and country levels? What are the opportunities for existing players and new entrants in the market?
Which segments, in terms of type, form, and application, are expected to create traction for the manufacturers in this market during the forecast period 2024–2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the players operating in the global animal protein market during the forecast period 2024–2031?
Who are the major players in the global animal protein market? What are their specific product offerings in this market?
What are the recent strategic developments in the global animal protein market? What are the impacts of these strategic developments on the market?

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Redding, California - April 29, 2024

Animal Protein Market to be Worth $42.63 Billion by 2031

Animal Protein Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Protein {Milk, Whey Protein}, Egg Protein), Form (Liquid), Application (Food & Beverage {Bakery and Confectionery, Dairy}, Animal Feed, Pharmaceuticals) - Global Forecast to 2031

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