ID: MRFR/AGR/7087-HCR | February 2021 | Region: Global | 90 pages
Blood Meal Market is expected to cross USD 2.1 Billion by 2025 at a CAGR of 3.0% during the forecast period of 2019 to 2025. It is a perfect competition market due to the presence of numerous active buyers and sellers. The market is governed by several regional and local players recognized through their prominent brands. For instance, DAR PRO Ingredients is a subsidiary of Darling Ingredients Inc. and provides blood meal in the US. Market players are focusing on product development by investing in R&D and establishing strategic partnerships with distributors to strengthen and expand their distribution networks.
The Global Blood Meal Market is growing at a moderate pace. Blood meal is a valuable protein source and is, therefore, used in animal feed. It is a dry, inert powder made from the blood collected during the slaughter of livestock. Of all the animal waste from slaughterhouses, blood is the highest pollutant. However, the protein content in blood is around 18%; therefore, to avail of the valuable protein content and lower the pollution from animal slaughter, efforts have been made to ensure the proper utilization of animal blood on a large scale.
The amino acid profile of the protein in blood meal is similar to the ideal protein ratio as the lysine content is very high as compared to other food proteins such as bone meal and meat meal. Thus, blood meal is used as an alternative protein source in various animal diets for dairy cattle, beef cattle, sheep, pigs, poultry, and other species where protein is an important factor. The efficient utilization of such by-products has a direct impact on the economy and environmental pollution. These factors are expected to boost the demand for blood meal in the animal feed industry.
Blood meal can also be used as a high-nitrogen organic fertilizer as it contains highs amounts of nitrogen, phosphorus, and potassium, thus spurring demand by fertilizer manufacturers.
Prevention of digestive health conditions in livestock with few side effects.
Frequently Asked Questions (FAQ) :
Blood meal market is projected to grow at a 3.0% CAGR between 2019-2024.
North America is expected to dominate the blood meal market.
Blood meal market is predicted to touch USD 2.1 billion by 2023.
Fertilizers will lead the blood meal market.
Strict regulatory framework may limit the blood meal market growth.