Growth Drivers
Growing Demand for Protein Supplements – Protein supplements have become the prime ingredient in the diets of muscle-builders and gym freaks. Every 2 in five Americans often eat protein beverages and smoothies, that account for 46% of the population. Moreover, most Americans consume twice as much protein as they need.
Rising use of Collagen-based Products – Collagen is frequently used in cosmetics with the goal of minimizing the appearance of fine lines and wrinkles, cellulite and enhancing the flexibility of the skin. Most of the collagen is extracted from beef and fish. Cellulite is likely to affect 80 to 90 percent of females, and it usually affects the thighs and glutes.
Rising Production of Meat – Growing production of meat is expected to create lucrative opportunities for animal proteins. According to the reported data, in comparison to fifty years ago, the world currently produces more than three times as much beef. About 340 million tons were produced in 2018.
Rise in the Number of Cattle – Higher population of livestock and aquaculture is likely to give a major boost to the production of animal-based products. In 2021, there were around 996 million cattle in the world, which further increased to nearly 1 billion in the year 2022.
Higher Consumption of Baby Formula – Infant formula milk are very important for the healthy growth of the baby, it provides essential nutrients and vitamins. Baby formula contains different types of animal proteins, such as whey protein, cow’s milk, goat’s milk, milk protein isolate, and others. Over the course of the first month, newborns steadily eat more baby formula and eventually reach a feeding size of 3 to 4 ounces (90 to 120 ml) per feeding, or 32 ounces per day.
Challenges
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~6% |
Base Year Market Size (2022) |
~ USD 45 Billion |
Forecast Year Market Size (2035) |
~ USD 75 Billion |
Regional Scope |
|
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.3% |
Base Year Market Size (2024) |
USD 50.96 billion |
Forecast Year Market Size (2037) |
USD 111.04 billion |
Regional Scope |
|
Author Credits: Radhika Pawar
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