The global Animal Placental Protein Market is estimated to be valued at US$ 551.9 million in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Animal placental proteins are derived from the placenta of animals and are rich in essential nutrients and bioactive compounds. These proteins have gained significant attention in recent years due to their potential health benefits and therapeutic properties. They are used for various applications such as in functional foods and beverages, dietary supplements, cosmetics, and pharmaceuticals.
The market for animal placental proteins is driven by various factors. One major driver is the increasing demand for functional ingredients in the food and beverage industry. Consumers are becoming more health-conscious and are actively seeking products that offer additional nutritional benefits. Animal placental proteins, being rich in amino acids, vitamins, and minerals, provide an excellent source of functional ingredients.
Another driver for the market is the expanding application areas of animal placental proteins. These proteins have shown promising results in various health conditions such as wound healing, anti-aging, skin rejuvenation, and immune system enhancement. The growing popularity of personalized nutrition and the rising demand for natural and organic products are also contributing to the market growth.
The animal placental protein market can be segmented based on the source, application, and region. By source, the market can be further divided into bovine, ovine, and porcine. Currently, the bovine segment dominates the market due to the easy availability of bovine placenta and the high demand for bovine placental proteins in the food and cosmetic industries.
Political factors: There are no specific political factors that directly impact the animal placental protein market. However, regulatory policies regarding the use of animal-derived products may influence the market dynamics.
Economic factors: The increasing disposable income of consumers, especially in developing countries, is driving the demand for high-quality and functional products. This economic factor is positively impacting the market growth.
Social factors: The growing awareness among consumers about health and wellness has led to an increased preference for natural and organic products. Animal placental proteins, being derived from natural sources, align well with this consumer trend.
Technological factors: Advancements in technology have led to the development of innovative extraction and purification techniques for animal placental proteins, enhancing their quality and bioactivity.
The global Animal Placental Protein Market Growth is expected to witness high growth, exhibiting a CAGR of 5.6% over the forecast period, due to increasing demand for functional ingredients and expanding application areas.
The Asia-Pacific region is expected to be the fastest-growing and dominating region in the market, driven by the rising consumer awareness and the presence of key market players.
Key players operating in the global animal placental protein market are Sigma-Aldrich Corporation (Now part of Merck KGaA), Biotain Pharma Co., Ltd., New Zealand Health Food Company Limited, XABC Biotech Co., Ltd., BIOFAC A/S, Chaitanya Biologicals Pvt. Ltd., Serolab SA, Auckland BioSciences Limited, ANZCO Foods Limited, and Biocontinental Co., Ltd.
The global animal placental protein market is poised for substantial growth in the coming years. The increasing demand for functional ingredients and the expanding application areas present significant opportunities for market players. With advancements in technology and the growing consumer preference for natural and organic products, the market is expected to witness a surge in demand.