The global feed plant-based protein market size is estimated to be valued at USD 2.5 billion in 2020. It is projected to reach USD 3.4 billion by 2025, recording a CAGR of 6.3% in terms of value. An increase in demand for plant-based pet food due to rise in awareness among pet owners, pet owners’ inclination toward organic pet food ingredients, and innovative animal husbandry techniques to improve meat quality augments the demand for nutritional plant-based protein is driving the global feed plant-based protein market.
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The Asia Pacific region is expected to grow at the highest CAGR during the forecasted period
Asia Pacific is the fastest-growing region in the global market. The market is majorly driven by an 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 market. Furthermore, the region is also attributed to the rising demand for pet food products in countries such as China, Australia, and India, and an increasing focus on the health of pets are expected to drive growth.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such DuPont (US), Kerry Group (Ireland), Ingredion (US), Emsland Group (Germany), AGRANA (Austria), Avebe (Netherlands), Kroner (Germany), Batory Foods (US), Roquette Frères (France), AGT Foods (Canada), Aminola (Netherlands), BENEO (Germany), Scoular Company (US), Vestkorn (Norway), E T Chem (China), Bio Technologies (Russia), FoodChem International (China), Crown Soya Group (China), BioScience Food Solutions (Germany), and Sotexpro (France).
The soy segment accounted for the largest share in the feed plant-based protein market
Based on sources, soy dominated the market. Soy protein products are used in feed and pet food to increase water and fat retention and improve nutritional values. It has been a substitute for traditional chemical-based feed ingredients, and soy proteins have rapid dispersibility and excellent suspension properties. Moreover, soy concentrates consist of approximately 70% protein and are highly digestible with low antigenicity. Due to these factors, soy protein is estimated to account for most of the share in the market.
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The ruminants segment is projected to grow at the highest growth rate in the feed plant-based protein market during the forecast period
Based on livestock, ruminants accounted for the fastest-growing segment in the market. The rising demand for dairy & dairy-based products such as milk, cheese, yogurt, and butter in both the developed and developing countries is projected to drive the growth of the nutritional feed ingredients for the consumption of ruminants. The plant-based protein ingredients, besides increasing the production of end products obtained from ruminants, also improve their health and immune systems. Owing to these factors, the segment is projected to grow at the highest CAGR.
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