Numerous companies in the animal feed protein ingredients market are depicting a keen interest in the adoption of various strategies for strengthening their industry position. Several of them are showing a greater inclination toward acquisitions, mergers, collaborative agreements, and partnerships for establishing a strong industry foothold.
To illustrate, in December 2021, ADM acquired Sojaprotein, a major provider of non-GMO soy ingredients. The deal represented a substantial expansion to ADM’s global alternative protein capabilities and its ability to meet the escalating demand for plant-based beverages and foods.
Similar advancements are expected to impel industry expansion through the ensuing years. As cited by Global Market Insights Inc., animal feed protein ingredients market size is projected to surpass USD 280 billion by 2027.
A few of the major players operating in the industry include DuPont, ADM, Catalysta, Burcon Nutrascience Corporation, Titan Biotech, CJ Cheiljedang Corporation, GRF Ingredients, and others.
Europe: Favorable regulatory policies to propel the regional industry landscape
The animal feed protein ingredients market share in Europe is anticipated to expand at a CAGR of 6% over 2021 and 2027. This upsurge is on account of an increase in the enforcement of favorable regulatory policies in the region.
Citing an instance, in August 2021, the EU authorized the usage of processed animal proteins secured from insects (insect PAPs) in pig and poultry feed. The Commission Regulation (EU) 2021/1372 regarding the act was published in the Official Journal of the European Union. The act was welcomed by IPIFF (International Platform of Insects for Food and Feed).
According to reliable sources, the regulation is looked upon as a crucial step in the upscaling of the European insect sector. The act is expected to play a vital role in fostering circularity in food production, enhancing the self-sufficiency and sustainability of the livestock sector in Europe.
North America animal feed protein ingredients market: A brief overview
The market size in North America is expected to record appreciable growth through 2027. This rise can be credited to the surging regional demand for products with apt animal feed protein content. For the same, numerous regulators are formulating suitable policies and regulations.
One such example is the Federal Food, Drug, and Cosmetic Act (FD&C Act). The act requires that any substance added to or anticipated to become a component of animal food must be utilized in accordance with a food additive regulation. This is applicable unless the product gets regarded as Generally Recognized as Safe (GRAS) for that use.
The complete list of ingredients with their definitions has been provided in the Official Publication of AAFCO (Association of American Feed Control Officials). Some of the constituents include minerals, grains, added vitamins, fats/oils, milling by-products, and other nutritional and energy sources.
To sum up, the animal feed protein ingredients market is expected to register an increasing emphasis on balancing the nutrients in diet via the minimum usage of fish meal. The enhanced demand can be attributed to the growing need for meeting specific amino acid requirements for reproduction, fast growth, and the reduction of feed costs. These factors are expected to drive the demand for animal feed protein powder and various components through the forthcoming years.