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Casein Protein In Animal Feed Application Global Market Report 2024 Market Segments 2024-2033 | Size, Share And Insights
Casein Protein In Animal Feed Application Global Market
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According to The Business Research Company's, The casein protein in animal feed application market size has grown rapidly in recent years. It will grow from $2.67 billion in 2023 to $3 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to livestock industry growth, nutritional awareness, expanding international trade, disease outbreaks, changing consumer preferences towards high-quality dairy and meat.
The casein protein in animal feed application market size is expected to see rapid growth in the next few years. It will grow to $4.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to population growth, shifting climate patterns, growing focus on animal health and welfare, demand for environmentally sustainable animal farming, exploration of alternative protein sources. Major trends in the forecast period include personalized nutrition, plant-based alternatives, growing interest in traceability, digitalization, increasing trend of protein fortification.
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Market Drivers and Trends:
The growing animal health sector is expected to propel the growth of casein protein in animal feed application market going forward. Animal health companies have recognized the challenges associated with raising animals in a rapidly changing world and shown resilient growth. Casein protein is a dairy protein derived from the milk of various mammals with its numerous nutritional benefits and used to make a variety of products such as cheese, nutritional supplements, coatings, and pharmaceutical products, as a result, the growing animal health sector increases the demand for casein protein in animal feed. For instance, according to Health for Animals, a global animal health association, the global animal health sector increased to $38.3 billion, which is an increase of 12% in 2021. Therefore, the growing animal health sector drives the casein protein in animal feed application market.
Product innovations are key trends gaining popularity in the casein protein in the animal feed application market. Major companies operating in the casein protein in the animal feed application market are focused on developing new products to strengthen their position in the market. For instance, in 2021, GoodSport Nutrition, a US-based healthy sports drink manufacturing company, launched the GoodSport sports drink, a first-of-its-kind natural sports drink made from 97% dairy. The drink delivers three times more electrolytes and 33% less sugar than a conventional sports drink. The company claims that research has demonstrated that milk hydrates more effectively than other sports beverages and water.
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Major Key Players of the Market:
Cargill Incorporated, Archer Daniels Midland Company (ADM), Lactalis Group, Land O'Lakes Inc., Yili Group, Saputo Inc., Arla Foods AMBA, Royal FrieslandCampina N.V., Fonterra Co-Operative Group Limited, Kerry Group, Zoetis Inc., Savencia Fromage & Dairy India Private Limited, Perdue Farms, Glanbia plc, Kewpie Corporation, Jubilant Pharmova Limited, Milk Specialties Global, Grande Custom Ingredients Group, Batory Foods Inc., Farbest Brands, Erie Foods International Inc., ARMOR PROTEINES S.A.S., Hilmar Ingredients, SternMaid America LLC, Sodiaal S.A., AMCO Proteins, The Agropur Dairy Cooperative, Charotar Casein Company, Sachsenmilch Leppersdorf GmbH, CP Kelco India Pvt. Ltd., Tessenderlo Group, Balchem Corporation, Novus International Inc., Biovet JSC, Bunge Limited, Lesaffre Group, Nutreco N.V., Phibro Animal Health Corporation, Evonik Industries AG
Casein Protein In Animal Feed Application Market 2024 Key Insights:
• The casein protein in animal feed application market size is expected to see rapid growth in the next few years. It will grow to $4.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.
• Animal Health Sector Growth Catalyzes Demand For Casein Protein In Animal Feed
• Innovative Product Offerings Transform The Landscape Of Casein Protein In Animal Feed
• North America was the largest region in the casein protein in animal feed application market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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