Feed Plant-Based Protein Market by Type (Concentrates, Isolates, and Others), Source (Soy, Wheat, Pea, and Others), Livestock (Ruminants, Poultry, Aquaculture, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026111 | Pages: 100 | Industry: Food and Beverages | Date: Sep 2022 | Type: Global

The market crossed US$ 2.5 billion mark in 2022 and is expected to hit US$ 3.8 billion by 2030, recording a CAGR of 6.3% during the forecast period.

Increasing focus on animal health and wellbeing to drive feed plant-based protein market

Nowadays, farmers are increasingly conscious about feeding nutritious food to maintain the animals’ health and wellbeing. Growing farm owners’ preference toward feeding plant-based feed to their animals is likely to drive the market growth. In addition, increasing veganism trend among the worldwide population is expected to favor the product demand globally. Furthermore, increasing number of people farming fish, turtle, and other animals for the development of their aquacultural business is expected to increase the plant-based animal feed products’ demand globally.

 Within the report, the market is segmented into type, source, livestock, and geography. By type, the market is further segmented into concentrates, isolates, and others. On the basis of source, the market is bifurcated into soy, wheat, pea, and others. By livestock, the market is categorized into ruminants, poultry, aquaculture, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Incidences of contamination of meat-based animal feeds to fuel market growth

Plant-based protein feeds are the major sources of proteins obtained from various plants such as pulses, soya, nuts, seeds, and others. Shifting consumers’ dietary patterns from meat-based protein feed to the plant-based once is mainly supporting the market growth. Furthermore, increasing incidences of spoilage and contamination of the meat-based animal feeds due to their improper handling practices and growing concerns of farm animal welfare & rights are expected to surge the plant-based protein feed products demand globally.

Rising demand for poultry products is one of the major factors accelerating the market growth.

Nowadays, poultry farmers prefer nutritious feeds to maintain their livestock chickens’ health and increase the egg production capacity. Rising consumption of eggs is expected to increase the plant-based protein feeds demand among poultry farmers, thereby driving the poultry segmental growth. According to the data presented by the International Egg Commission (IEC), in 2018, 76.7 million tons of eggs were produced globally. In addition, increasing number of fish aquaculture business owners preferring plant-based protein feeds for their animals is driving the aquaculture segmental growth.

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Recent strategic developments in feed plant-based protein market

The feed plant-based protein market has undergone several significant developments, and a few of these have been mentioned below:

  • In November 2021, Royal DSM, a global manufacturer of plant-based protein food and animal feed items acquired Vestkorn Miling, a European producer of pea and bean derived ingredients for plant-based products to increase its portfolio of nutritious plant-based animal feed items.
  • In November 2021, ADM, a global leader in aquaculture origination and processing acquired Sojaprotein, a Serbian producer of non-GMO plant-based ingredients for the pet food and animal feed categories to increase its ability to make a plant-based food animal feed.
  • In November 2021, AGT Foods partnered with FrieslandCampina Ingredients, a global innovator in the functional ingredients and solutions to develop multiple formulation-based plant-based protein feeds items. 

The feed plant-based protein market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. AGT Foods, AGRANA, Aminola, Avebe, DuPont, Batory Foods, BENEO, Emsland Group, Ingredion are among the prominent players operating in the market.

Target audience for the report:

  • Animal Feed Manufacturers
  • Animal feed distributors
  • Poultry Farms, aquacultural farms, dairy and livestock farms.
  • Feed plant-based ingredient manufacturers
  • Animal feed suppliers
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Concentrates
    • Isolates
    • Others
  • Source
    • Soy
    • Wheat
    • Pea
    • Others
  • Livestock:
    • Ruminants
    • Poultry
    • Aquaculture
    • Others
  • Companies profiled
    • AGRANA
    • AGT Foods
    • DuPont
    • Batory Foods
    • Aminola

Companies profiled

- AGRANA

- AGT Foods

- DuPont

- Batory Foods

- Aminola

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