Market Trends of united kingdom animal protein Industry
This section covers the major market trends shaping the United Kingdom Animal Protein Market according to our research experts:
Food and Beverages is the largest End User
- By application, the food and beverage industry is the leading end-user segment in the UK animal protein market, followed by supplements. The bakery products sub-segment accounts for the major volume in the food and beverage segment, followed by the snacks sub-segment. The food and beverage segment is likely to outpace the growth of other applications in terms of value and record a CAGR of 6.79% during the forecast period (2023-2029). Around 4,000 bakers in the country are continuously innovating and developing products like lactose-free animal proteins, like gelatin, collagen, and insect proteins, because the lactose-intolerant population is increasing in the United Kingdom.
- The supplements segment accounts for the second-largest share of the UK animal protein market, led by the sports/performance nutrition industry, which is anticipated to register a CAGR value of 6.67% during the forecast period. Among all animal proteins, insect protein has a price advantage in the market because it costs 40% lesser than other well-known animal proteins, such as milk proteins. The number of sports and fitness enthusiasts increased to around 180,000 in 2021, thereby increasing the demand for supplements.
- The market observed a hike of 0.91% in terms of value on a Y-o-Y basis from 2018 to 2020. Due to the COVID-19 pandemic-related restrictions and work-from-home norms, the market for snacks grew by around USD 2 million from 2019 to 2020. This situation positively impacted the growth of the animal protein market in the United Kingdom. For instance, around 5.6 million people were working from home in 2020 and 2021, which majorly increased the consumption of snacks, beverages, and bakery products.
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