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Harvesting Potential: Analyzing Market Dynamics and Growth Factors in the Animal Derivatives Market - Detailed Overview and Future Projections Revealed
Animal Derivatives Market
Animal Derivatives Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $16.04 billion In 2028 At A CAGR Of 6.1% :
The animal derivatives market size has grown strongly in recent years. It will grow from $11.85 billion in 2023 to $12.66 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to traditional use in food industry, growing global population, rising disposable income, cultural and dietary preferences, nutritional content and protein demand..
The animal derivatives market size is expected to see strong growth in the next few years. It will grow to $16.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to continued population growth, rising urbanization and westernization, expanding middle-class consumers, shift towards health and wellness, diversification in product offerings.. Major trends in the forecast period include expansion of plant-based alternatives, innovation in processing technologies, integration in functional foods, global regulatory developments, growth of e-commerce and direct-to-consumer models..
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Animal Derivatives Market Major Segments
The animal derivatives market covered in this report is segmented -
1) By Type: Immunoglobulin, Serum Albumin, Fibrinogen, Other Types
2) By Animal Type: Ovine, Bovine
3) By Application: Food And Beverages, Pharmaceutical Industry, Cosmetic Industry, Pet Food Industry, Others Applications
Key Driver - Increased Spending On Pet Foods Drives Growth In Animal Derivatives Market
The increased spending on pet foods is expected to propel the growth of the animal derivatives market going forward. Pet food is commercially prepared food specifically formulated and manufactured for domesticated animals' dietary needs and consumption. Animal derivatives are commonly used in pet foods as a source of proteins and other nutrients. For instance, in March 2023, according to the pet ownership and spending data released by the American Pet Products Association (APPA), a US-based non-profit industry association, spending on pet foods in the US increased by 16.2% in 2022 to reach $58.1 billion as compared to 2021. Therefore, the increased spending on pet foods drives animal derivatives.
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Prominent Trend - Innovative Products Drive Momentum In Animal Derivatives Market
Product innovations are a key trend gaining popularity in the animal derivatives market. Major companies in the market are introducing innovative products such as PureeX® to sustain their position in the market. For instance, in April 2023, Protix, a Netherlands-based manufacturer of ingredients for food supplements, launched PureeX insect meat. The new product is freshly extracted from insects and is a very nutritious and appetizing ingredient to be used in pet foods. It also has a low carbon footprint, high antioxidant levels, and antimicrobial activity.
Animal Derivatives Market Players
Major companies operating in the animal derivatives market report are ANZCO Foods Ltd., Rocky Mountain Biologicals Inc., Auckland BioSciences Ltd., LAMPIRE Biological Laboratories Inc., Proliant Biologics LLC, Sigma-Aldrich Co., Thermo Fisher Scientific Inc., Kedrion Biopharma Inc., LFB S.A, Octapharma AG, Takeda Pharmaceuticals Company, Sanofi S.A., Grifols S.A., Bayer AG, Commonwealth Serum Laboratories, Fusion Health Care Pvt. Ltd., Nippi Inc., Tessenderlo Group, Kewpie Corporation, Pure Ingredients, Ewald-Gelatine GmbH, Kerry Group, Darling International Inc., Gelken Gelatin Co. Ltd., Foodmate Co. Ltd., Weishardt Group, Trobas Gelatine BV, Nitta Gelatin Ltd., Gelita AG, Kraeber & Co. GmbH
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Largest And Fastest Growing Region In The Market
North America was the largest region in the animal derivatives market in 2023. The regions covered in the animal derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Animal Derivatives Market Report Structure
3. Animal Derivatives Market Trends And Strategies
4. Animal Derivatives Market - Macro Economic Scenario
5. Animal Derivatives Market Size And Growth
…..
27. Animal Derivatives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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