Global Animal Derivatives Market Analysis 2024 – Estimated Market Size And Key Drivers

The Animal Derivatives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Animal Derivatives Global Market Report 2024, The animal derivatives market size has grown strongly in recent years. It will grow from $11.85 billion in 2023 to $12.66 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to traditional use in food industry, growing global population, rising disposable income, cultural and dietary preferences, nutritional content and protein demand..

The animal derivatives market size is expected to see strong growth in the next few years. It will grow to $16.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to continued population growth, rising urbanization and westernization, expanding middle-class consumers, shift towards health and wellness, diversification in product offerings.. Major trends in the forecast period include expansion of plant-based alternatives, innovation in processing technologies, integration in functional foods, global regulatory developments, growth of e-commerce and direct-to-consumer models..

The increased spending on pet foods is expected to propel the growth of the animal derivatives market going forward. Pet food is commercially prepared food specifically formulated and manufactured for domesticated animals’ dietary needs and consumption. Animal derivatives are commonly used in pet foods as a source of proteins and other nutrients. For instance, in March 2023, according to the pet ownership and spending data released by the American Pet Products Association (APPA), a US-based non-profit industry association, spending on pet foods in the US increased by 16.2% in 2022 to reach $58.1 billion as compared to 2021. Therefore, the increased spending on pet foods drives animal derivatives.

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The animal derivatives market covered in this report is segmented –
1) By Type: Immunoglobulin, Serum Albumin, Fibrinogen, Other Types
2) By Animal Type: Ovine, Bovine
3) By Application: Food And Beverages, Pharmaceutical Industry, Cosmetic Industry, Pet Food Industry, Others Applications

Product innovations are a key trend gaining popularity in the animal derivatives market. Major companies in the market are introducing innovative products such as PureeX® to sustain their position in the market. For instance, in April 2023, Protix, a Netherlands-based manufacturer of ingredients for food supplements, launched PureeX insect meat. The new product is freshly extracted from insects and is a very nutritious and appetizing ingredient to be used in pet foods. It also has a low carbon footprint, high antioxidant levels, and antimicrobial activity.

The animal derivatives market report table of contents includes:
1. Executive Summary
2. Animal Derivatives Market Characteristics
3. Animal Derivatives Market Trends And Strategies
4. Animal Derivatives Market – Macro Economic Scenario
5. Global Animal Derivatives Market Size and Growth
….
31. Global Animal Derivatives Market Competitive Benchmarking
32. Global Animal Derivatives Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Animal Derivatives Market
34. Animal Derivatives Market Future Outlook and Potential Analysis
35. Appendix

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