Market Size of Australia Animal Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.01 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Animal Protein Market Analysis
The Australia animal protein market size is expected to grow from USD 96.6 million in 2023 at a CAGR of 4.01% over the next five years.
- The consumption of animal products like burgers, hotdogs, minced meat products, and many more is increasing in the country owing to increasing demand for convenience and processed food products. Animal proteins like casein, collagen, egg protein, and many more are used in processed products to increase their functionality and nutritional content. Proteins like caseins, gelatin, and casinates are used as stabilizers, thickeners, emulsifiers, and supplements in foods like salad dressings, soups, and others.
- Collagen is used as a binding agent and is used in the production of jelly and confectionery products as the application of animal protein is increasing. Owing to the increasing demand, the market players are launching new innovative animal proteins in the market to cater to growing demand. For instance, in May 2021, Darling Ingredients launched a range of purified pharmaceutical-grade gelatin X-Pure, which is used in supplements.
- Furthermore, animal proteins are used in animal feed and personal care products as well. In cosmetics and personal care products, animal proteins provide a natural glow, reduce wrinkles and premature aging, and help restore natural collagen. Animal protein-rich animal feed provides the animals with overall health and nutrition and improves their reproduction capacity. The production of animal protein is further increasing due to increasing consumer demand for protein-rich food and supplements.
- Animal protein provides the utmost nutrition and functionality, due to which the consumption of preventive health supplements is increasing. However, the demand for plant-based protein food and other products is also increasing in the country due to ethical and environmental concerns. This poses a restraint for the market.
