DUBLIN, Sept. 29, 2023 /PRNewswire/ — The “Feed Plant Based Protein Market – Global Industry Size, Share, Trends, Opportunity, and Forecast” report has been added to ResearchAndMarkets.com’s offering.
The report paints a detailed picture of the rapidly growing importance of plant-based proteins in the animal feed industry.
As the demand for sustainable, environmentally-friendly practices grows, the industry is shifting to utilize plant-based proteins in animal feed. This comprehensive report showcases the many benefits of plant-based proteins, including high nutritional value, improved digestibility, and a significantly decreased environmental footprint of animal agriculture.
Key Highlights from the Report:
- Consumer Consciousness Drives Growth: The increasing demand for plant-based proteins stems from a rising consumer consciousness about sustainability, animal welfare, and health. A considerable segment of the market growth can be attributed to pet owners prioritizing humane and ethical treatment in pet food manufacturing, in line with concerns about animal welfare and rights.
- Dominance of Plant-Based Proteins: India reported a production volume of rice surpassing 161 million metric tonnes in 2020, marking it as the highest among plant-based proteins in the nation.
- The Inclusion of Plant-based Proteins in Animal Feed: Sources such as soybean meal, canola meal, and sunflower meal have become predominant in animal feed, acting as a sustainable alternative to animal-derived protein sources, which can be both costly and environmentally detrimental.
- Quality Over Quantity: While plant-based proteins offer myriad benefits, it’s essential to understand that their quality and digestibility can differ. Achieving the correct balance of protein sources is critical for animal health and requires meticulous testing and formulation.
- Growth Driven by Health Consciousness: There’s a noticeable rise in awareness about animal health and nutritional value. The demand for balanced meals with all necessary nutrients has surged, coupled with a drive towards reducing carbon footprints through plant-based protein consumption.
- Recent Developments: Companies are making waves in the sector. In a significant move in February 2023, Alltech and Finnforel acquired a fish feed production facility. Moreover, Roquette has been making strides with its launch of the NUTRALYS organic range in June 2022 and the inauguration of the largest pea protein plant in 2021.
- Market Segmentation: The report provides a detailed segmentation of the market based on type, livestock, source, and region, enabling targeted strategies for businesses in each segment.
About the Leading Players:
Key industry players featured include The Archer-Daniels-Midland Company, Cargill, Incorporated, Roquette Freres SA, and Ingredion Incorporated, among others. These companies are spearheading the transition to plant-based proteins in the animal feed industry, pushing for innovations and sustainable practices.
For more information about this report visit https://www.researchandmarkets.com/r/6kb33d
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SOURCE Research and Markets