The global feed plant-based protein market is estimated to reach $3.4 billion by 2025, growing at a 6.3% compound annual growth rate (CAGR). The global market size was valued $2.5 billion in 2020. The market for feed plant-based protein in animal feed is growing as more farmers and feed producers look for sustainable and cost-effective alternatives to traditional animal protein sources. Plant-based protein sources such as soybeans, peas, and canola are commonly used in animal feed. These protein sources have been shown to have similar nutritional value to animal-based protein and can be produced at a lower cost.
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The Asia Pacific region is expected to grow at the highest CAGR during the forecast period
Asia Pacific is the fastest-growing region in the global market. The market is majorly driven by an 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 market. Furthermore, the region is also attributed to the rising demand for pet food products in countries such as China, Australia, and India, and an increasing focus on the health of pets are expected to drive growth.
Key Players in Feed Plant-based Protein Market
DuPont (US), Kerry Group (Ireland), Ingredion (US), Emsland Group (Germany), AGRANA (Austria), Avebe (Netherlands), Kroner (Germany), Batory Foods (US), Roquette Frères (France), AGT Foods (Canada), Aminola (Netherlands), BENEO (Germany), Scoular Company (US), Vestkorn (Norway), E T Chem (China), Bio Technologies (Russia), FoodChem International (China), Crown Soya Group (China), BioScience Food Solutions (Germany), and Sotexpro (France).
By livestock, pet is projected to account for the largest share in the feed plant-based protein market during the forecast period
Based on livestock, pet dominated the feed plant-based protein market. Plant-based ingredients and plant-based protein are trending among pet food manufacturing professionals and becoming more mainstream in the pet food market. The plant-based pet food trend is growing because pet owners have been more inclined to consume a meatless diet. 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. These factors are expected to drive growth in the pet segment.
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By type, concentrates segment is projected to account for the largest share in the market during the forecast period
By type, concentrates segment dominated the market, and the same trend is projected to follow during the forecast period. Feed plant-based protein concentrates deliver balanced nutrition, offering fibers and micronutrients, along with protein. They are sustainably sourced from soy, peas, lentils, and fava beans, which can generally comprise up to 80% of protein content. The production of plant protein concentrates is of great interest in the feed industry due to greater protein requirements and an increase in awareness among pet owners, especially in developing countries.
