Animal Feed Insect Proteins Market Size to Surpass US$ 380 Mn by 2032
As per the report by Global Market Insights. “Worldwide Animal Feed Insect Proteins market was valued USD 260 million in 2021 and will surpass a revenue collection of USD 380 million by 2032 with an annual growth rate of 3.5% over 2023 to 2032.”
The global colostrum market is slated to exhibit substantial growth through 2032 owing to soaring livestock production. In addition, the expanding dairy sector is likely to further foster market progress over the forecast timeframe.
Major market players are monetising business opportunities by investing continuously in R&D, adopting new technologies, and collaborating to commercialise high-quality colostrum products for use in early childhood nutrition, immune health, animal health, sports nutrition, and skin health. The global dairy industry’s rapid expansion and the livestock industry’s rising production are projected to drive business growth.
The colostrum market has been segmented in terms of product, form, application, and region.
The colostrum industry has been bifurcated into specialty colostrum powder, skim colostrum powder, and whole colostrum powder. The skim colostrum powder segment is expected to propel at a steady rate in the forthcoming years. Skim colostrum powder encourages healthy growth in infants and newborn animals, which is estimated to fuel product usage in animal feed and infant food applications, positively influencing segment expansion.
The organic segment is anticipated to proliferate at a healthy pace over 2023–2032 due to the growing awareness among people about the health advantages of organic components used in food items, coupled with booming internet usage, which has boosted the availability of information about organic produce.
The colostrum market has been categorised into instant food, nutritional supplements, animal feed, cosmetics, and others. The animal feed segment is speculated to depict more than 3.5% CAGR through 2032 attributed to the increasing livestock populations and the transition from unorganised to organised livestock farming.
The others segment is poised to register around 3.5% CAGR over the view timeline. The surging demand for multifunctional goods that will come from developments in the pharmaceutical business is set to increase the need for colostrum.
The Latin America colostrum industry is set to expand at about 3.5% CAGR between 2023 and 2032 on account of the rising consumer expenditure on functional foods and nutritional supplements as a result of changes in customers’ lifestyles and diet preferences in developing nations like Peru, Brazil, Argentina, and others.
The Middle East & Africa colostrum market is slated to showcase steady progression at over 3% CAGR through the forecast timespan owing to the escalating customer demand for natural ingredients over conventional ones in products like food. Organic colostrum is widely used in a variety of sectors, including the cosmetic, food, as well as animal feed industries.
Some of the key players profiled in the Animal Feed Insect Proteins market report include INSECTIFii, Celitron Medical Technologies Kft, Bentoli, Ynsect SAS, Protix, Enviroflight, BETA HATCH, Nutrition Technologies, Hexafly Biotech, Enterra Feed Corporation, Innovafeed, NextProtein, HiProMine S.A., and Entobel
