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Casein Protein in Animal Feed Application Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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Casein protein in animal feed application is projected to witness growth in few years, with an expansion to $4.85 billion in 2028. This rapid growth, corresponding with CAGR of 12.8%” - The Business Research Company
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How Has the Casein Protein in Animal Feed Application Market Grown Recently?
The casein protein in animal feed application market size has shown a rapid trajectory of growth in recent years. Growing from $2.67 billion in 2023 to $3 billion in 2024, the market illustrates a robust compound annual growth rate CAGR of 12.4%. Such noteworthy growth during the historic period can be traced back to various factors such as the expansion of the livestock industry, rising nutritional awareness, broadening international trade horizons, recent disease outbreaks, and altering consumer preferences favouring high-quality dairy and meat products.
The rapidly expanding animal health sector is marked as a crucial player propelling the growth trajectory of the casein protein in animal feed application market. Uplifting the demand for casein protein, the increasing global animal health sector values at an impressive $38.3 billion, marking a 12% increase in 2021, as cited by Health for Animals, a global animal health association.
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What Factors Will Influence the Market Going Forward?
The market of casein protein in animal feed application is projected to witness a swift upswing in the next few years, foreseeing an expansion to $4.85 billion in 2028. This rapid growth, corresponding to a compound annual growth rate CAGR of 12.8%, will be powered by multiple driving forces such as population growth, shifting climate patterns, heightened focus on animal health and welfare, stronger demand for environmentally sustainable animal farming, and ongoing exploration of alternative protein sources.
Furthermore, the forecast period will see the rise of major trends including personalized nutrition, plant-based alternatives, growing interest in product traceability, digitalization, and an increasing trend of protein fortification.
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How Is the Market Segmented Worldwide?
The global landscape of the casein protein in animal feed application market is characterized by a wide array of segments including:
1 By Type: Sheep-Milk Caseins, Cow-Milk Caseins, Other Types
2 By Function: Stabilizing, Emulsification, Foaming, Other Functions
3 By Applications: Food Production, Nutritional Supplements, Cosmetics, Pharmaceutical, Beverage, Other Applications
Which Region Has Dominated the Casein Protein in Animal Feed Application Market?
In 2023, North America emerged as the largest region in the casein protein in animal feed application market. The forecast period anticipates Asia-Pacific, with its fast-paced growth, to make substantial strides in the market. The market report delves into regions worldwide, covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Are the Leading Companies in the Market?
The casein protein in animal feed application market report identifies key industry players including Cargill Incorporated, Archer Daniels Midland Company ADM, Lactalis Group, Land O'Lakes Inc., Yili Group, Saputo Inc., Arla Foods AMBA, Royal FrieslandCampina N.V., Fonterra Co-Operative Group Limited, Kerry Group, Zoetis Inc., Savencia Fromage & Dairy India Private Limited, Perdue Farms, Glanbia plc, and many more. These corporations are at the forefront of the market, making significant contributions to the industry.
What Emerging Trends Are Projected in the Industry?
Emerging trends show that product innovations are gaining popularity in the casein protein in the animal feed application market, with major companies entering the industry geared towards strengthening their market positions through the development of new products.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.