Feed Plant Based Protein Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

The Global Feed Plant Based Protein Market is anticipated to grow significantly through 2028 due to growing demand of plant-based protein source. In 2020, in India the production volume of rice of over 161 million metric tonnes was the highest among the plant-based proteins in India.

The Global Feed Plant Based Protein Market is projected to experience substantial growth through 2028, driven by the increasing demand for plant-based protein sources for animal feed.

The expansion of the Global Feed Plant Based Protein Market is attributed to the rising demand for feed plant-based protein. These proteins offer numerous benefits, such as high digestibility and nutritional value, which contribute to increased yield and productivity of various livestock products.

The growing demand for plant-based meat alternatives in animal feed has led to the inclusion of plant-based protein as a source of nutrition for animals. Soybean meal, canola meal, and sunflower meal are commonly used plant-based protein sources in animal feed, complementing feed made from grains and other ingredients. Incorporating plant-based protein into animal feed brings several advantages, including reducing the reliance on animal-derived protein sources like fishmeal, which can be costly and unsustainable. Additionally, it helps mitigate the environmental impact of animal agriculture by minimizing land, water, and resource usage in feed production.

However, it is crucial to note that the quality and digestibility of plant-based protein sources may vary, and some may not provide all the essential amino acids necessary for optimal animal health. Therefore, ensuring a balanced mix of protein sources in animal feed is vital to meet the nutritional requirements of the targeted animal species. Achieving this balance requires meticulous formulation and testing of animal feed.

The shift towards using plant-based products in animal feed is a response to the human population's demand for vegetarian protein. Evidence suggests that dogs and cats share their owners' preference for diets rich in plant-based proteins. Concerns about animal welfare and rights in meat-based diets for pets have driven the development of plant-based pet food in recent years. A significant number of pet owners, being animal lovers themselves, prioritize the humane and ethical treatment of animals used for food production. Pet food manufacturers must carefully formulate recipes to ensure they provide all necessary nutrients, including protein, essential amino acids, vitamins, and minerals, to promote the well-being of dogs and cats. Choosing high-quality pet food products and consulting with a veterinarian are essential for ensuring pets receive a nutritionally balanced diet.

For instance, according to the UK Pet Food Manufacturers Association Ltd, plant-based pet food is projected to offer a healthy diet for both cats and dogs by 2023.

Furthermore, the consumption of synthetic protein sources in animal food has been linked to various diseases, such as increased cholesterol levels, directly and indirectly impacting livestock health and impeding animal farming. To address this issue, many players in the animal farming industry are turning to plant-based products for animal feed due to their eco-friendliness, disease prevention properties, and cholesterol regulation.

For instance, in March 2022, One Good acquired PRO2FIT, a nutrition brand to produce plant-based nutrition products such as vegan protein powder.

Therefore, increasing demand for plant-based nutrient drives the growth of the market during the projected period.

Growing health consciousness

Animal feed has grown in significance as an integral part of the food chain. To create appropriate feed for various animal species, it is crucial to ensure the presence of essential components and feedstuffs such as vitamins, proteins, amino acids, colorants, minerals, and antibiotics in adequate quantities. Proteins, being the building blocks of life, play a vital role in body development, maintenance, and repair. There is a growing awareness among people about animal health and the nutritional value of different meals. Additionally, the desire for well-balanced meals containing all necessary nutrients is increasing, leading to a rise in the utilization of plant-based proteins. Moreover, to reduce their carbon footprint, more and more consumers are opting for plant-based proteins. The market for plant-based proteins is expanding due to the rising prevalence of food allergies, as plant-based meals are believed to cause fewer allergic responses compared to animal products. Plant-based protein has gained fresh interest in the animal feed industry due to its strong energy supply and high feed efficiency.

Manufacturers of animal nutrients are investing in research and development to produce plant-based proteins. Plant-based proteins are less likely to cause adverse effects compared to synthetic protein and can increase yield. As a result, poultry farmers are switching to plant-based proteins. For example, The Archer-Daniels-Midland Company produces a wide range of plant-based proteins, including soy, wheat, peas, beans, chickpeas, red and green lentils, amaranth, barley, buckwheat, and more.

Aquatic plants are also being used as a source of protein due to their impressive properties. Plant-based proteins are naturally produced through the conversion of energy from sunlight, which is used to combine different chemical components into a specific form. The primary component responsible for this unique process is chlorophyll present in plants. Research suggests exploring the potential of aquatic plants and macroalgae as feed ingredients in ruminant diets.

Increased awareness regarding health is expected to drive the growth of the Global Feed Plant Based Protein Market in the forecast years. Soy is anticipated to be the key source of protein, providing a complete nutritional profile that includes all essential nutrients. Soy protein promotes better heart health compared to animal protein and contains various vitamins, minerals, and antioxidants. Soy is highly beneficial for vegan and vegetarian consumers worldwide.

Furthermore, the presence of numerous manufacturers, large-scale production, cost-effectiveness compared to other plant proteins, increased demand for plant-based products, easy availability of raw materials, and wide-ranging applications across various industries contribute to the popularity of plant-based proteins. For instance, Titan Biotech Ltd. produces I-SORIZON soy protein, which offers all essential amino acids and important bioactive components. Peas, on the other hand, are not major allergens and have a high nutritional profile. They provide numerous health benefits and are commonly used in finished goods due to their small and simple structure. Pea protein is a high-quality protein source, containing vitamins, minerals, and low fat content. It aids in muscle growth, weight loss, and heart health. Ingredion produces Vitessence Pulse pea protein.

These various factors contribute to the growing demand for the Global Feed Plant Based Protein Market in the coming years. However, one of the rapidly emerging trends in specialty foods is the 'free-from' movement. The gluten-free and soy-free diet, known for its therapeutic and physiological benefits, has gained significant traction with the fastest growth rate among dietary trends. The increase in food sensitivities, regional dietary preferences, rising diagnosis of coeliac disease, and the concept of using food as medicine have led to the rise of soy-free and gluten-free food products, which has somewhat hindered market growth. Additionally, limited production of plant-based protein and high demand have caused material prices to rise, further impeding market growth.

Recent Developments

• In February 2023, Alltech and Finnforel announced the acquisition of a fish feed production facility, completing the circular-economy fish-farming chain.
• Roquette launched the new NUTRALYS organic range of texturized pea and fava proteins in June 2022.
• In October 2021, Roquette Frères opened the largest pea protein plant in Portage La Prairie, Manitoba.
• Cargill introduced Radipure pea protein for the Asia market in December 2019.

Market Segmentation

Global Feed Plant Based Protein Market is segmented based on type, livestock, source, region and competitive landscape. Based on type, the market is categorized into concentrates, isolates, and others. Based on livestock, the market is fragmented into poultry, ruminants, swine, aquatic animals, and others. Based on source, the market is segregated into soy, wheat, pea, sunflower, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.

Company Profiles

The Archer-Daniels-Midland Company, Cargill, Incorporated, Roquette Freres SA, Ingredion Incorporated, Bluestar Adisseo Co., Ltd, Kerry Group plc., Wilmar International Ltd, AGRANA Beteiligungs-AG, Avebe UA, Alltech, Inc. are some of the key players of Global Feed Plant Based Protein Market.

Report Scope

In this report, Global Feed Plant Based Protein market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Feed Plant Based Protein Market, by Type:

• Concentrates
• Isolates
• Others

Feed Plant Based Protein Market, by Livestock:

• Poultry
• Ruminants
• Swine
• Aquatic Animals
• Others

Feed Plant Based Protein Market, by Source:

• Soy
• Wheat
• Pea
• Sunflower
• Others

Feed Plant Based Protein Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive landscape

Company Profiles: Detailed analysis of the major companies in global feed plant based protein market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.