“Global Animal Extract Market” is the title of an upcoming report offered by Market.US. This comprehensive market research report on the animal extract industry contains inputs, as well as information & data from both primary and secondary sources, that have been validated and verified by target market experts. Apart from critical data and other related information, the report also includes factors that could be or are potential restraints to market growth, present & future key trends, recourses that can be leveraged for potential market expansion in untapped regions or countries, as well as factors that are presently fueling growth in animal extract market. It also covers challenges or threats for new, as well as existing market entrants. The report presents a thorough study of revenues, key developments, strategies, historical data and information by major players that offer crucial perspectives/insights into various market scenarios. The global animal extract market has been segmented on the basis of product type, application, as well as regions and countries.
The Global Animal Extract Market was valued at UЅD $7,265.9 Мn in 2020, and is projected to register а САGR of 9.0% over the next 10 years.
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Animal extracts refers to the extracts or products that are derived from animal tissue or organs. These extracts contain a mixture of amino acids, peptides, organic acids, minerals & vitamins, nucleotide fractions, etc., as such, they are widely utilized across a host of global industries for various applications.
As animal extracts are known to have several nutritional benefits, it is widely used across a host of end-use industries such as, a flavoring agent in the beverage industry, and as a food additive & taste enhancer in the food processing industry. They are also increasingly being utilized in the manufacture of medicinal products from the pharmaceutical industry. This surging adoption of animal extract products is expected to significantly boost the revenue growth of the global animal extract market over the next 10 years.
In light of the recent COVID-19 outbreak, the manufacturing and supply-chain operations of key industry players have been severely affected, and this is anticipated to have a negative impact on the market growth of this sector. Furthermore, what might be acceptable for human consumption in some areas of the world, may not be the norm in other areas. Due to this, there can be a certain level of friction in market growth, that is slated to impede on the overall future profitability of the global animal extract market.
However, increasing investments by manufacturers towards the development of innovative products is expected to improve adoption of animal extract products by end-use industries, thereby boosting market growth in the process.
Segmentation of the global animal extract market is as follows:
On the basis of product type, the beef extract segment accounted for the maximum number of revenue shares of the global animal extract market in 2020, and is also slated to index the highest CAGR of 9.3%, over the next 10 years. The chicken extract and pork extract segments accounted for the second and third-most number of revenue shares (USD $1,743.9 Mn, and $1,281.5 Mn respectively) of this global market in 2020, and are also anticipated to index considerable revenue growth rates respectively, in the coming years.
In terms of technology, the industrial microbial segment accounted for the majority revenue shares of the global animal extract market in 2020, and is slated to register the highest CAGR of 8.7%, with an attractiveness index of 7.7, over the next 10 years. The mechanical grinding segment is also anticipated to expand at a considerable rate of revenue growth in the coming years.
With respect to application, the collagen segment accounted for the maximum number of revenue shares (47.2%) of the global animal extract market in 2020, and is slated to register the highest CAGR, with an attractiveness index of 5.8, over the next decade. The gelatin segment is also anticipated to expand at a significant rate of revenue growth over the forecast period.
Concerning the end-use aspect of this global market, the F&B industry segment accounted for the highest number of revenue shares (41.1%) of this global market in 2020. However, the pharmaceutical segment is slated to index the highest CAGR of 9.3% in the coming years.
Regional Segmentation and Analysis:
North America accounted for the majority revenue shares (46.5%) of the global animal extract market in 2020, and is slated to index the highest CAGR, with an attractiveness index of 5.7, over the next decade. The markets in Europe accounted for the second-most number of revenue shares of this global market in 2020.
Key industry players of the global animal extract market are – Unilever PLC., Lauridsen Group Inc. (Proliant Biologicals LLC), Novozymes A/S, Colin Ingredients SAS, Elite Flavor Bioengineering Co. Ltd., Creative Enzymes, Carnad A/S, Nikken Foods Co. Ltd., Crescent Biotech, LIS France SA, DuPont de Nemours Inc., Koninklijke DSM N.V., BASF SE, Chr. Hansen Holding A/S, and Amano Enzyme Inc., among others.