Novel Proteins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Novel Proteins Market: Snapshot
Novel proteins are pet food ingredients that are made from exotic sourced differing from stable pet food ingredients, for example, pork, fish, poultry, and hamburger. Today a large number of the pet food makers offer wide variety of products with different choices to fulfil different needs of the pet owners. Clients can pick items relying upon different factors, for example, life stages, breeds, ingredient preferences, price points, and disease conditions. Along these lines changing dynamics is probably going to support the growth in the novel proteins market.
Additionally, rising adoption of cats and dogs alongside the increasing concentration on improving their health and efficiency is bolstering the growth in novel proteins market. Currently, most of the ingredients utilized in the making of animal food are made with chemicals that are easily accessible and cost-effective to produce.
Nevertheless, increasing concerns with respect to the ill-effects of certain manufactured ingredients is impeding the market. Notable reductions in the use of medicines, for example ethoxyquin, along with policymakers inclination focus on expanding the utilization of natural and common items are boosting the market.
Nations, for example, the U.S. and China, have a fair supply of products in the pet nourishment industry attributed to which, positive improvements are likely to be seen by the companies operating in the mentioned market.. Despite the fact that novel proteins are generally utilized in pet food ingredients, a mounting number of players in the novel proteins market are launching novel proteins appropriate for people to moderate natural effects of poultry production.
Novel Proteins Market Introduction
Novel proteins are pet food ingredients made of exotic sources that differ from the stable pet food ingredients, such as tuna, pork, beef, and poultry. Novel proteins are derived from unusual sources, such as rabbit, duck, elk, kangaroo, bison, ostrich, or venison, which are usually not fed to pets. Novel proteins are fed to pets to determine the allergies and food sensitivities or intolerances in pets.
Novel proteins are simply new proteins that have not been fed to pets previously and are added to pets’ diets; novel proteins are uncommon ingredients added to pet foods. Although novel proteins are used to figure out pet allergies and sensitivities, not all the pet foods with novel proteins can serve the purpose. Manufacturers in the novel proteins market label pet food products with novel proteins as “limited ingredient” foods, consuming which can only eliminate all the proteins that may be responsible for various pet allergies or intolerances.
Manufacturers in the novel proteins market make use of various, unusual sources to introduce high-quality novel proteins. Novel protein market players are launching innovative products and focusing on making available various types of over-the-counter novel protein products. Leading players in the novel protein market are also introducing new grain-free protein variants that pet have never been exposed to before to diversify their product range in the novel proteins market.
Novel Protein Market Dynamics
Rapidly Increasing Pet Population Worldwide Complements Growth of the Novel Proteins Market
The population of pets in the world has surged rapidly in the past few years, which is an important factors to influence growth prospect of the novel proteins market. According to a study published by an American nongovernmental organization – Insurance Information Institute, nearly 60.2 million households adopted dogs, 47.1 households adopted cats, and over 2.6 million adopted horses in the U.S. Another study conducted by the Japan Pet Food Association, more than 8.92 million households adopted dogs and 9.52 million adopted cats in Japan in 2017. Increasing concerns about pet health along with the speedily increasing pet population around the world is expected to create positive opportunities for players in the novel proteins market.
Rise of the Trend of ‘Pet Parenting’ Worldwide will Drive Growth of the Novel Proteins Market
With a mounting number of young-adults and the millennial population preferring to own a pet instead of having children, the trend of ‘pet parenting’ has witnessed tremendous growth. Pet health and wellness is among the biggest concerns for pet parents, which drives pet owners’ purchase-related decision, boosting sales of pet food and pet care products. Willingness of pet owners to spend hundreds of dollars per pet every year on pet health, grooming, and medical expenses to ensure their pet’s health and activity levels is expected to remain the primary driving engine for the novel proteins market in the upcoming years.
Emergence of Novel Proteins can Mitigate Environmental Impact of Poultry Productions
Increasing growth of the poultry industry is mainly attributed to the rise in demand for inexpensive supply of meat and eggs, which is mainly driven by needs for high-protein sources. Health-conscious consumers are modifying their dietary habits and increasing protein intake, primarily to accelerate weight loss, which has spurred poultry production across the world, resulting in severe environmental problems.
Increasing poultry production is mainly responsible for environmental impacts related to a variety of pollutants, including ammonia, nutrients (specifically nitrogen and phosphorus), oxygen-demanding substances, solids, pathogens, antibiotics, trace elements, hormones, pesticides, along with other airborne emissions. Growing environmental awareness about the pollution caused due to ever-growing poultry production is triggering adoption of novel proteins, thereby, complementing growth of the novel proteins market.
Even though novel proteins are more commonly used in pet food products, a mounting number of leading players in the novel proteins market are introducing novel proteins suitable for humans to mitigate environmental impacts of poultry production.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report