According to a new report published by Allied Market Research, titled, “Animal Protein Market by Product Type, Form and Application: Opportunity Analysis and Industry Forecast, 2021–2027,” The global animal protein market size was valued at $44,090.0 million in 2019, and is projected to reach $58,500.3 million by 2027, registering a CAGR of 5.4%from 2021 to 2027. Animal protein are functional ingredients used in the preparation of a wide range of food products, cosmetic products, nutraceuticals, and others. They possess many functional properties and bioactivities, which aid in the processing food & beverages, nutraceuticals, feed, and cosmetics. The demand for animal protein is expected to grow due to the high demand from food & beverage sectors. Moreover, growing demand from cosmetic industry for animal protein like gelatin is likely to offer immense animal protein market opportunity during the forecast period. Furthermore, the consumption of animal protein supplement is the current animal protein market trend which driving the growth of the market.

The key players operating in the animal protein industry include Archer Daniels Midland Company, Arla Foods Inc, Cargill, Incorporated, Darling Ingredients Inc, Kerry group plc, The Kewpie Group, Nitta Gelatin Inc , PeterLabs Holdings, Shenzhen Taier, and Trobas Gelatine B.V

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By product type, the egg protein segment accounted for the highest animal protein market share in 2019. However, the gelatin segment is expected to grow at the highest CAGR during the animal protein forecast period.

By form, the solid segment accounted for the highest market share in 2019. However, the liquid segment is anticipated to grow at the highest CAGR during the forecast period.

By application, the food & beverages segment accounted for the highest market share in 2019 However, the pharmaceuticals & nutraceuticals segment is expected to grow at the highest CAGR during the forecast period.

Region wise, Europe accounted for the highest market share in 2019. However, Asia-Pacific is anticipated to grow at the highest CAGR during the animal protein market forecast period

Key Findings Of The Study

By product type, the egg protein segment accounted for the highest market share in 2019, growing at a CAGR of 4.6% from 2021 to 2027.
By form, the solid segment occupied maximum share in the market in 2019 and is expected to dominate the market during the forecast period.
By application, the food & beverages segment occupied maximum share in the market in 2019 and is expected to dominate the market during the forecast period.
Region wise, Europe accounted for highest share in 2019 and is expected to grow at a CAGR of 3.9% during the forecast period.