The global hydrolyzed animal protein market size is projected to witness impeccable growth in the forthcoming years. The transforming consumer lifestyle has augmented the demand for healthy foods due to a shift in dietary preferences. Hydrolyzed animal proteins are widely utilized to produce functional beverages and foods to enhance their nutritional attributes. The rising demand for functional beverages and foods is expected to foster market growth. Fortune Business Insights™ has presented this information in an upcoming report titled, “Hydrolyzed Animal Protein Market, 2021-2028”.
As per the report, the market is gaining immense popularity due to several reasons. For instance, the rising adoption of high protein diets for overall health maintenance and weight management is anticipated to bolster the market growth in the forthcoming years.
COVID-19 Impact-
The global pandemic has stagnated the growth of several industries and markets. The hydrolyzed animal protein has experienced a significant impact on the global pandemic. Though the sales of functional foods and beverages increased exponentially during the initial days of the pandemic due to stockpiling and hoarding trends, the low available workforce due to stringent lockdowns and curfews resulted in low production levels. Additionally, the disruptions in the global supply chain networks aggravated the situation. However, the vaccines are now available to the masses, and the market is gradually recovering. The market is expected to gain steep momentum post-pandemic.
Segmentation-
On the basis of type, the market trifurcates into fish proteins, dairy proteins, and meat, poultry & beef products. On the basis of form, the market bifurcates into liquid and powder. On the basis of application, the market segments into animal nutrition, dairy products, bakery products, functional foods & beverages, infant formula, dietary supplements, and other processed foods. Geographically, the market is classified into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
Report Coverage-
- The report highlights different market segments; type, form, application, etc.
- The report provides a granular research on specified regions, such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- The report comprehensively breaks down the competitive landscape and profiles companies accordingly.
- The report envisages PESTLE Analysis and SWOT Analysis for an infallible prediction.
- The report also analyzes the impact of the coronavirus pandemic.
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Drivers & Restraints-
Transforming Consumer Lifestyles to Fuel Market Growth
The growing importance of high protein diets to transform consumer lifestyles and preferences is expected to bolster the global hydrolyzed animal protein market growth. The rising product demand in weight management and overall health maintenance are expected to fuel the market growth. Additionally, the growing popularity of sports supplements amongst health enthusiasts is expected to foster market growth in the forthcoming years.
The growing numbers of pet food manufacturers in the pet food industry are also anticipated to bolster market growth.
The growing demand for high protein infant foods is expected to fuel the market growth due to the exponentially rising childbirth rate. Additionally, the extensive use of hydrolyzed animal protein in processed foods is projected to foster market growth in the forthcoming years.
Additionally, the easy mixing properties, portability, and high shelf life are expected to augment the market growth in the forthcoming years.
However, the expanding veganism and the growing popularity of proteins derived from proteins are anticipated to hinder the market growth.
Regional Insights-
North America to Hold the Lion’s Share
North America is projected to hold a huge portion of the global hydrolyzed animal protein market share. The presence of robust food industry and the accessibility to advanced technologies for the production and processing of protein ingredients are anticipated to bolster the market growth. Additionally, the growing adoption of high protein diets is likely to foster market growth.
Europe is anticipated to observe magnificent growth in the global market. The growth is attributable to the escalating demand for high protein foods and functional beverages & foods. Additionally, the extensive product incorporation in processed foods is expected to foster market growth.
Asia Pacific is expected to witness impeccable growth in the forthcoming years. The rising demand for dietary supplements amongst the elderly population and pregnant women is expected to foster market growth. The upsurge in the acceptance of protein ingredients due to extensive marketing and promotions by fitness centers is expected to complement market growth. The rising popularity of high protein sports supplements is expected to augment market growth.
Competitive Landscape-
Key Players Launch New Products to Strengthen Market Position
The global hydrolyzed animal protein market is fairly consolidated and comprises a few key players operating at domestic and international levels. The key players emphasize on organic growth strategies such as new product launches, product developments, patents, etc., to enhance their market presence and position. For instance, Dragon Pharma unveiled a new whey protein supplement composed of hydrolyzed whey protein in April 2019.
Key Players in the Global Hydrolyzed Animal Protein Market are:
- Lactalis Ingredients
- Arla Foods Ingredients Group P/S
- Fonterra Co-operative Group
- Kerry Inc.
- Novozymes A/S
- Kemin Industries Inc.
- BRF S.A.
- Cargill Inc.
- Essentia Protein Solutions
- GELITA
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