Four things to know about animal feed protein ingredients market
Published: June 8, 2018
Source : https://www.gminsights.com/industry-analysis/animal-feed-protein-ingredients-market
The rising number of initiatives undertaken by regional governments to increase the expanse of the agriculture business will reportedly drive animal feed protein ingredients market trends. As per estimates, in 2016, poultry meat consumption in Asia Pacific crossed 35 million tons. The shift toward consuming high protein diets to combat malnutrition will also apparently drive the industry growth over 2018-2024.
Five trends driving animal feed protein ingredients industry:
- APAC animal feed protein ingredients market size will surpass USD 95 billion by 2024 owing to the rising enforcement of feed standardization policies and the growing aquaculture business. Rising demand for high quality feed for excellent yield in animals will also drive the regional growth.
- Soymeal animal feed protein ingredients industry size from poultry is expected to exceed 155 million tons by 2024 in terms of volume. The growth has been apparently attributed to the increasing demand for soybean pertaining to its high protein content and balance of digestible amino acids.
- Powered by the expansion of the aquaculture business and extensive rise in fish consumption, animal feed protein ingredients market size from aquaculture applications may exceed USD 10 billion by 2024.
- As per estimates, more than 60% of the global fish meal produced is used in aquaculture. Aided by the increasing demand for fish meal, specifically across the Asia Pacific, fish meal animal feed protein ingredients industry size will cross USD 10.5 billion by 2024.
- Animal feed protein ingredients market size from poultry applications has been projected to register a CAGR of 5.5% over 2018-2024. The growth has been credited to the rise in protein feed demand for poultry to increase their survival rate and immune function.
Titan Biotech, Alltech, Nutraferma LLC, Burcon NutriSciences, Dupont, and Koninklijke DSM N.V. are some of the top shots that reportedly comprise the competitive hierarchy of animal feed protein ingredients market. These manufacturers are known to develop innovative products focusing on feed safety and supplying the right protein quantity in the feed.
Source
https://www.gminsights.com/industry-analysis/animal-feed-protein-ingredients-marketRelated topics:
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Global Market Insights Inc.
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