Increasing efforts towards animal health and wellbeing will foster the demand for alternative proteins in animal feed. The growing intake of meat and animal products has encouraged farmers as well as solution providers to incorporate various affordable feed management strategies for the betterment of animal health and the environment. There is also a surging need for protein-rich and nutritious foods in order to reimagine the global food system security.
This has paved the way for innovations in sustainable feed solutions across the agricultural sector to optimize animal health and productivity with finite natural resources. As per reports, the global alternative protein market for animal feed will reach an annual value of more than USD 4 billion by 2026.
Increased Preference for Insect Protein
The yearly revenue from the insect protein industry for animal feed is expected to reach a significant number owing to their growing preference, on account of their numerous health benefits. It has been estimated that insects comprise up to 82% protein and are rich in different amino acids. They are also known to be the most efficient protein source with regards to output per area of land.
Insect proteins also have optimum fatty acid content and antimicrobial peptides. Due to their high nutritional value, maximum feed conversion efficiency and environmental friendliness, edible insects are widely used as alternative protein sources.
Benefits from Soybean Protein Concentrate
The industry share of soybean protein concentrate for animal feed is anticipated to strike an exponential CAGR, considering their excessive adoption in animal nutrition. These substances are rich in protein content and are mainly used as an alternative to milk and fishmeal. For instance, soybean feed grade protein concentrate contains over 65% crude protein over 65% crude protein and is derived from feed-grade or food-grade soy meals.
Furthermore, soybean protein concentrates act as the main ingredient in commercial mixed feed for animals and poultry. They also exhibit high digestibility of protein, have beneficial amino acids, lower levels of anti-nutritional factors, and extended shelf life.
Rising Potential in Poultry Applications
Demand for alternative protein sources across poultry will gain significant traction over the next few years. This can be owed to the increasing need to limit the dependency of farmers on traditional sources of protein in terms of effective supply, availability, and nutritional value.
As per statistics, in livestock and poultry production, animal feed contributes to substantial single cost value that ranges close to 60-80% of the total cost 60-80% of the total cost. Along with this, the higher costs and lack of availability associated with commercial protein sources will foster product consumption in the poultry sector.
Providers of alternative protein sources for animal feed are keen on marketing initiatives like novel protein launches, acquisitions, mergers, capacity expansions, as well as product differentiations to expand their global reach albeit with the present COVID-19 pandemic. For instance, Nestlé’s Purina brand, in November 2020, introduced a pet food that is enriched with insect proteins as well as from plant proteins that are derived from fava beans and millets.
Hamlet Protein A/S, Nordic Soya, Deep Branch Biotechnology, Agriprotein Gmbh, CHS Inc, Innovafeed, Calysta Inc, Ynsect, Angel Yeast, Lallemand Inc, and DuPont De Nemours, are few other brands in the business.