The global animal placental protein market is estimated to be valued at US$551.9 million in 2023 and is expected to exhibit a growth rate of 5.6% from 2023 to 2030, according to a new report published by Coherent Market Insights. The market research report predicts that the market will reach a value of US$551.9 million by the end of the forecast period.
The global animal placental protein market is experiencing significant growth due to various factors such as increasing consumer awareness about the health benefits of animal placental protein, rising demand for natural and organic products, and growing prevalence of chronic diseases. Animal placental protein is known to possess various therapeutic properties and is widely used in the pharmaceutical, cosmetics, and food industries. However, the market is also faced with challenges such as ethical concerns regarding the sourcing of placenta and stringent regulations on the use of animal-derived products.
Market Key Trends:
One key trend in the animal placental protein market is the growing demand for anti-aging products. With the rise in the aging population worldwide, there is an increasing demand for products that help in reducing the signs of aging. Animal placental protein is rich in growth factors and bioactive molecules that promote tissue regeneration and repair, making it an ideal ingredient in anti-aging skincare products. For example, companies like XYZ incorporate animal placental protein in their anti-aging creams, which have gained popularity among consumers.
The animal placental protein market is segmented based on the source of placenta, including porcine, bovine, ovine, and others. Among these segments, the bovine placental protein segment dominates the market due to its wide availability and high commercial use. Bovine placental protein offers several health benefits and is used in various applications such as pharmaceuticals, cosmetics, and food products. Its dominance in the market can be attributed to its rich source of essential amino acids, vitamins, minerals, and growth factors.
Market size: The global Animal Placental Protein Market Growth is expected to witness high growth, exhibiting a CAGR of 5.6% over the forecast period. This growth can be attributed to the increasing demand for natural and organic products, as well as the rising prevalence of chronic diseases.
Regional analysis: The Asia-Pacific region is expected to be the fastest-growing and dominating region in the animal placental protein market. This can be attributed to the increasing consumer awareness about the health benefits of animal placental protein, as well as the growing demand for anti-aging and natural products in countries like China and Japan.
Key players: The key players operating in the global animal placental protein market include 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. These players focus on product innovation, partnerships, and acquisitions to gain a competitive edge in the market.
The global animal placental protein market is witnessing significant growth due to increasing consumer awareness and demand for natural and organic products. The market is dominated by the bovine placental protein segment, which offers various health benefits. The Asia-Pacific region is expected to be the fastest-growing region in the market. Key players in the market are focusing on product innovation and strategic partnerships to maintain their market position.