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Animal Feed Microbial Protein Market Size
- Report ID: GMI5616
- Published Date: May 2023
- Report Format: PDF
Animal Feed Microbial Protein Market Size
Animal Feed Microbial Protein Market size crossed USD 140 million in 2022 and is projected to expand at over 8% CAGR from 2023 to 2032, due to the growing demand for sustainable and cost-effective alternatives to traditional protein sources.
The animal feed microbial protein industry growth is fueled by increasing awareness regarding animal health across the world. Animal welfare and health are emerging as important trends among consumers, which has boosted the need for high-quality animal feed that incorporates microbial protein due to its proven benefits on animal health and productivity. In March 2022, USDA-NIFA invested nearly USD 13 million in treating and eradicating livestock diseases exploring several prevention strategies including animal feed sources.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Animal Feed Microbial Protein Market Size in 2022: | USD 140 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.2% |
| 2032 Value Projection: | USD 319 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 371 |
| Segments covered: | Source, Livestock, Fermentation Technology, Form |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Despite a positive outlook for the animal feed microbial protein market, the price competition is negatively impacting product sales. The animal feed market is highly competitive which has put price pressure on microbial protein compared to traditional animal feed sources. This is limiting the profitability of microbial protein and restraining overall industry expansion. Nonetheless, growing awareness regarding the benefits of using microbial protein compared to alternatives due to rising environmental concerns will help overcome this issue.
Frequently Asked Questions (FAQ) :
Animal Feed Microbial Protein Market Scope
