The global Feed Plant-based Protein Market size is 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 during the forecast period. Factors such as pet owners’ inclination toward organic pet food ingredients and innovative animal husbandry techniques to improve meat quality augment the demand for nutritional plant-based protein is driving the global feed plant-based protein market.
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Key players in this market include DuPont (US), Kerry Group (Ireland), Ingredion (US), Emsland Group (Germany), AGRANA (Austria), Avebe (Netherlands), Kroner (Germany), Batory Foods (US), Roquette Frères (France), and AGT Foods (Canada).
The key players are focusing heavily on improving their market shares by product launches and strategic expansion, while newer start-ups are being established rapidly in the market. The feed plant-based protein market can be classified as a consolidated market with major market share of 75-80% is acquired by top six key players operating in the market, present at the global level.
DuPont is a leading chemical company that focuses on investing in technology-driven innovations in providing products and solutions to various industries. DuPont Nutrition & Biosciences (Denmark) is a subsidiary of DuPont de Nemours, Inc. (US), which offers feed plant-based protein under its protein segment. The company has classified its business segments into agriculture, performance materials & coatings, industrial intermediates & infrastructure, packaging & specialty plastics, electronics & imaging, nutrition & biosciences, transportation & advanced polymers, safety & construction, and corporate. The Protein segment of the nutrition & biosciences business supplies plant-based protein ingredients for both animal nutrition and human nutrition and emphasizes on innovative solutions as per the industry requirements of the pet food and feed market.
Kerry Group has been an ingredient manufacturer in the food & beverage and feed industries. The company operates through two business segments: taste & nutrition and consumer foods. The company offers its products through the following business application segments: bakery, beverage, meals, meat & alternative meat, dairy, snacks, pet, animal, and pharma. It offers plant-based protein under the pet application segment. Kerry Group has been following an objective to mitigate the use of artificial preservatives and emulsifiers in pet food products, which promises promotable growth for plant-based protein. Kerry Group has its local manufacturing units in more than 130 locations and caters to 30 countries. The company sells its products across major regions such as North America, Europe, and Asia Pacific.
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Asia Pacific is the fastest-growing region in the global feed plant-based protein 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 feed plant-based protein 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.
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