Press release
Animal Derivatives Market Poised to Reach $17.02 Billion by 2029: Key Players, Growth Drivers and Trends Impacting the Industry
Animal Derivatives Market Size
What Is The Projected Market Size Of The Global Animal Derivatives Market And Its Growth Rate?
The projections for the animal derivatives market indicate robust growth:
• The market size will upswing from $12.55 billion in 2024 to $13.3 billion in 2025, growing at a CAGR of 6.0%.
• By 2029, the market size is expected to reach $17.02 billion, translating to a CAGR of 6.4%.
The factors attributing to this remarkable growth include rising global population, dietary preferences, and protein demand, among others.
What Is Driving The Growth In The Animal Derivatives Market?
The main growth driver for the animal derivatives market is the increase in spending on pet foods. Diet formulated and manufactured specifically for domestic animals often contains animal derivatives. For instance, spending on pet foods in the US spiked by 16.2% in 2022, reaching $58.1 billion. This stat, released by the American Pet Products Association (APPA), suggests that the increased spending on pet foods is directly influencing the animal derivatives market's growth trajectory.
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Who Are the Key Players Driving Animal Derivatives Market Growth?
The primary contributors to the animal derivatives market include but are not limited to:
• ANZCO Foods Ltd.
• Rocky Mountain Biologicals Inc.
• Auckland BioSciences Ltd.
• LAMPIRE Biological Laboratories Inc.
• Proliant Biologics LLC
• Sigma-Aldrich Co.
• Thermo Fisher Scientific Inc.
What Are The Key Trends In The Animal Derivatives Market?
Major trends influencing the animal derivatives market's growth include:
• The expansion of plant-based alternatives.
• Innovation in processing technologies.
• Integration in functional foods.
• Growth of e-commerce and direct-to-consumer models.
What Are The Segments Of The Global Animal Derivatives Market?
The animal derivatives market is segmented by:
• Type: Immunoglobulin, Serum Albumin, Fibrinogen, Other Types
• Animal Type: Ovine, Bovine
• Application: Food And Beverages, Pharmaceutical Industry, Cosmetic Industry, Pet Food Industry, Others Applications
Which Region Leads The Animal Derivatives Market?
In 2024, North America was the leading region in the animal derivatives market. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Animal Derivatives Market Global Market Report?
The report provides comprehensive analysis focusing on:
- Market Size Analysis of the Animal Derivatives Market.
- Market Segmentation Analysis for effective categorization.
- Key Player Focus to define market value, share, and competitive landscape.
- Growth Trends Analysis for individual growth trends and prospects in the market.
- Market Contribution of different segments to the overall growth.
- Growth Drivers detailing key factors influencing market growth.
- Industry Challenges analyzing the challenges and risks affecting the market.
- Competitive Developments including expansions, agreements, and new product launches in the market.
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