The fermented protein market is gauged to be valued at $987.7 million out of 2022. This market has colossal development potential and is supposed to be worth US$ 2026.23 million by 2032. The market is supposed to develop at a CAGR of 7.5% from 2022 to 2032, up from 6.1% beforehand (2017-2021).
Fermented Protein is widely consumed for animal feed North America and Europe are the largest Fermented Protein consumer for animal feed with over 37.6% and 30.8% market share respectively for both the region. These fermented proteins in the animal feed help animals to absorb more absorb as the feed is pre-digested and increases the digestibility of phosphate and nitrogen compound. Fermented Protein for human consumption is also gaining great attention owing to a great source of vegan protein.
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Trends and Market Dynamics: Fermented Protein
Fermented protein has a longer shelf life making it an eye-catching product for consumers. Fermented protein is an impeccable product to be on-the-go health food. As it has a longer shelf life it reduces the wastage in packaging and wastage of the product.
With increasing awareness of fermented food among the consumer, rapid growth in demand for fermented protein is observed in recent times. This will certainly make the market grow twofold in the forecasted period. Regionally, the growth in demand has started to appear in North America and will increase with time.
Fermented Protein is also gaining traction because it is vegan in nature, and the vegan population is increasing rapidly. With booming vegetarianism and a flexitarian population, demand for fermented protein is expected to grow. Counties like Nigeria and Pakistan have recently witnessed the biggest jump in the population of vegetarians, hence these regions are expected to be the prime regions for the development of Fermented Protein Market.
Besides, this fermented protein is also gaining demand because of increasing meat and dairy need globally. Asia-Pacific is the highest meat producer in the world, with over 141.7 million metric tons, followed by America with over 104 million metric tons. These regions will gain an increased rate of demand for fermented protein for animal feed in the forecasted period.
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Key Players of Fermented Protein Market
Leading players in the global fermented protein market includes
- Genuine Health
- Body Ecology, Inc
- Jarrow Formulas
- Amazonia Pty Ltd
- Sun Brothers
- Whole Earth Sea
- FIT-BioCeuticals Ltd are some of the key players of Global Fermented Protein Market.
Innovations and Opportunities in Fermented Protein Market
Manufacturers have identified growing awareness and an increasing number of vegan, vegetarian, and flexitarian population as an opportunity to make the market grow. Responding to this increasing demand and growing trend, manufacturers are now innovating in different types of fermented protein product for the population.
For animal feed, producers are focusing on the quality of the feed. They are investing more into Research and Development for developing feed product that has even distribution of essential nutrients needed by the animals. For animal feed, Asia-Pacific and America are the potential markets where high opportunities are spotted by the manufacturers.
Manufacturers are innovating for producing various flavors and packaging with the objective to attract a population of all the ages. Flavors like brownie, banana, coconut, almond, mango, and other exotic flavors are being introduced in the market. Packaging attracts around 70% of the consumers based on the impression it leaves and becomes the key for consumers to differentiate among the products.
The Fermented Protein market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the Fermented Protein market report projects the attractiveness of each major segment over the forecast period.
Fermented Protein: Market Segmentation
- Food & beverage
Distribution Channel :
- Online Stores
- Retail Stores
- Convenience Stores
- Specialty Stores