Feed Plant-based Protein Market Size, Revenue Growth Factors, Regions, Trends and Global Forecast

The global feed plant-based protein market size is projected to reach USD 3.4 billion by 2025, recording a CAGR of 6.3% in terms of value. The growth of 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 market, due to innovative product development in the region, backed with appropriate research and development facilities available in the region.

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By source, pea is projected to be the fastest growing segment in the market during the forecast period

Based on source, pea is the fastest growing segment in the market. Pea proteins are used in alternatives to conventional feed protein ingredients. Due to its nutritional benefits and easy integration into final products, the demand for pea protein grows as a crucial ingredient in the feed industry.

By livestock, pet is projected to account for the largest share in the feed plant-based protein market during the forecast period

Based on livestock, pet dominated the market. Plant-based ingredients and plant-based protein are trending among pet food manufacturing professionals and becoming more mainstream in the pet food market. The plant-based pet food trend is growing because pet owners have been more inclined to consume a meatless diet. Moreover, protein preferences in dog and cat food diets have been shown to closely mimic those of their vegan or vegetarian owners, with more of these owners opting to feed their pets a diet consisting of plant-based protein. These factors are expected to drive growth in the pet segment.

By type, concentrates segment is projected to account for the largest share in the market during the forecast period

By type, concentrates segment dominated the market, and the same trend is projected to follow during the forecast period. Feed plant-based protein concentrates deliver balanced nutrition, offering fibers and micronutrients, along with protein. They are sustainably sourced from soy, peas, lentils, and fava beans, which can generally comprise up to 80% of protein content. The production of plant protein concentrates is of great interest in the feed industry due to greater protein requirements and an increase in awareness among pet owners, especially in developing countries.

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Europe is projected to account for the largest market share during the forecast period

The European market accounted for the largest share in 2019. In Europe, the demand for feed plant-based protein is mainly concentrated from sources such as soy, pea, and wheat. Both North America and Europe are projected to contribute to the growth of the feed plant-based protein ingredients market due to the increasing preference for organic ingredients in the pet food and feed industry. However, the demand for feed plant-based protein in Asia Pacific is projected to remain high due to the rise in adoption of pets, rising urbanization, increase in animal husbandry, and growth in the meat consuming population. The demand for feed plant-based protein in China is projected to remain high, as the consumers in the country prefer opting for prepared pet food products.

Key Market Players:

DuPont (US), Kerry Group (Ireland), Ingredion (US), Emsland Group (Germany), AGRANA (Austria), Avebe (Netherlands), Kroner (Germany), Batory Foods (US), Roquette Frères (France), AGT Foods (Canada), Aminola (Netherlands), BENEO (Germany), Scoular Company (US), Vestkorn (Norway), E T Chem (China), Bio Technologies (Russia), FoodChem International (China), Crown Soya Group (China), BioScience Food Solutions (Germany), and Sotexpro (France).

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This release was published on openPR.