Global Plasma Feed Market Overview
The key driver impacting the plasma feed market is the increase in production and consumption of meat globally. For instance, Global demand for meat is growing: over the past 50 years, meat production has more than tripled. Every year world produces over 340 million tonnes of meat. According to the FAO, Meat consumption will increase from 233 million t in 2000 to a potential 300 million t by 2020. Globally pigmeat is the most popular meat, but poultry production is increasing most rapidly. Global demand for pig meat will boost by 45%, poultry meat by 85%, beef by 80% by the year 2020. South Asia shows a significant climb in demand for poultry meat, as it is augmented by 725 % overall. This is driven by India's growing market, where a surprising 850% increase is expected in 30 years (from 1.05 to 9.92 million tonnes annually). The world meat economy has been determined both by the China pig sector and rapid growth in the international poultry industry. Moreover, the adoption of pets, humanization contributing to the demand for industrial applications of plasma feed, high protein pet food, and feed production, thus add growth to the market in the forecast period. Whereas with regards to volume,the market was calculated XX KT in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global plasma feed market size was valued at around USD 2100 million in 2020 and is estimated to grow at a CAGR of about 5.5% during the forecast period 2021 to 2027.
The demand for high protein animal meal is, estimated to augment plasma feed demand in the forecast period. For instance, As per the NCBI projection, global demand for animal-derived protein will double by 2050, ensuing in concerns for food security and sustainability. Seafood consumption is generally rising in many parts of the world, mainly for coastal communities. Aquaculture supplies around 50% of all fish consumed worldwide today. By 2030, it is forecasted that aquaculture will be the primary source of fish due to high demand from consumers and rapid depletion of wild capture fisheries. However, the increased investment in refining technology at a commercial scale may hamper the market in the long run. The uncertainty in acceptance of blood-based products for livestock feed negatively impacts the market. The current industry trends, such as the growth in demand for high-quality pet food and support from sustainability initiatives across the feed, livestock, and food industries, are expected to provide market players with new market opportunities.
The plasma feed market is vast, with many local and global players. The plasma feed market is extensive, with many local and international players. The key leaders follow different strategies to advance their market position, such as extending product portfolio, amalgamation, contracts, product upgrades, and acquisitions, to enlarge their market share across the globe. The significant players studied in the report are Daka Denmark A/S, Sera Scandia A/S, Puretein Agri LLC, Rocky Mountain Biologicals, VEOS Group, EccoFeed LLC, Lihme Protein Solutions, Lauridsen Group, Inc., Nutreco (SHV Holdings N.V.), Kraeber & Co GmbH, Rocky Mountain Biologicals, Darling Ingredients, Inc., VEOS Group, and Feed works Pty Ltd.
In this research report, the plasma feed market is segmented by source, application, and region.
Analysis by Source:
By source, the report is categorized into porcine, bovine, and others (Poultry, sheep, and goat). The porcine dominates the source segment with over 30% share in 2020. It is due to the increasing use of Porcine blood meal as it provides several health benefits to animals and is used extensively in poultry and porcine feed. Moreover, the rise in several swine slaughtered for food production contributes to the high demand for porcine in the forecast period.
Analysis by Applications:
By applications, the report is categorized into swine feed, pet food, aquafeed, and others (Poultry and ruminant feed). The Swine feed dominates the application segment with over 25% share in 2020. It is due to the animal-derived proteins are highly digestible and provides nutrition to swine and nurtures pigs. Moreover, the rising consumption of pork meat and its products is expected to drive the market demand from the swine feed in the forecast period.
Analysis by Region:
In the regional outlook of the global plasma feed market, the Asia Pacific region dominates globally with a 35% market share during the forecast period. It is due to the significant rise in meat and seafood consumption. Moreover, gradually improving the economy, increased disposable income, growth in urbanization, and population growth contribute to its growth across the Asia Pacific.
Market Segmentation covered in the Report:
- Others (Poultry, Sheep, and Goat)
- Swine feed
- Pet food
- Others (Poultry and Ruminant Feed)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.