Feed Plant-based Protein Market – Trend, Geographical Segmentation, Forecast

Chicago, 2021-Jun-16 — /EPR Network/ —

According to MarketsandMarkets, the global feed plant-based protein market size is estimated to be valued at USD 2.5 billion in 2020 and is projected to reach USD 3.4 billion by 2025, recording a CAGR of 6.3% in terms of value. The growth of feed plant-based protein market can be attributed to the increase in demand for plant-based pet food due to rise in awareness among the pet owners, pet owners’ inclination toward organic pet food ingredients, and innovative animal husbandry techniques to improve meat quality augments demand for nutritional plant-based protein. European region dominated the global feed plant-based protein market.

Feed plant-based protein refers to those proteins that are derived from various pulses and grains. Proteins are polymers of amino acids, which are used in livestock feed and pet food for their nutritional and functional properties. Feed plant-based proteins are offered to livestock such as ruminants, swine, poultry, aquatic animals, and pet food. Animals are unable to produce amino acids, which is hence required to be provided with protein diets. This poses as a crucial factor that promotes overall plant-based protein product demand.

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European region dominated the global feed plant-based protein market. It is largely driven by new product developments and sustainability concerns over conventional low nutritional protein ingredients. Humans across multiple regions are resorting to vegan trends and lifestyles, which has mirrored the shift toward plant-based pet products in Europe, which has resulted in businesses investing heavily in the development of plant-based pet food.

Based on sources, soy dominated the feed plant-based protein 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 feed plant-based protein market.

Based on livestock, ruminants accounted for the fastest-growing segment in the feed plant-based protein 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.

By type, the feed plant-based protein market is segmented into concentrates, isolates, and other types such as textured protein and hydrolyzed protein. Protein isolates are believed to have played a major role in the development of new varieties of formulated feed ingredients. It has a high concentration of protein, with the advantage of color, flavor, and functional properties, making it an ideal raw ingredient to be used in pet food and feed for ruminants, swine, poultry, and aqua feed. Key companies such as Roquette Frères (France) are among the major producers of protein isolates and have strong product lines that cater to their customer base.

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