The growth of feed plant-based protein 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.
The feed plant-based protein market is projected to grow at a CAGR of 6.3% during the forecast period
According to MarketsandMarkets, the global feed plant-based protein market size is estimated to be 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. The feed plant-based protein market is primarily driven by factors such as 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.
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By source, the pea segment is projected to grow at the highest CAGR during the forecast period
Based on source, the pea segment is expected to be the fastest-growing during the forecast period. This segment is rapidly growing and gaining popularity among feed plant-based protein manufacturers as it is an allergen friendly with various functional characteristics. Furthermore, pea proteins are used in alternatives to conventional feed protein ingredients.
By livestock, the pet segment is estimated to account for the largest share
The pet segment of the feed plant-based protein is dominating the market. The plant-based pet food trend is growing because the pet owners have been more inclined to consume a meatless diet themselves. 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. Owing to these factors the segment is accounted for the largest share.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to 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.
The feed plant-based protein market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, and RoW (South America, Middle East and Africa).
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Leading players profiled in this report include the following:
Research Coverage
This report segments the feed plant-based protein market on the basis of source, livestock, type, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, regulatory framework, value chain, ecosystem/market map, end-use analysis, pricing insights, and company profiles—which together comprise and discuss the basic views on the competitive landscape, and emerging & high-growth segments of the feed plant-based protein market, high-growth regions, industry trends, drivers, restraints, opportunities, and challenges.
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