ID: MRFR/AGR/6832-HCR | 90 Pages | Published By Snehal Singh on April 2023
Plasma Feed Market Size is anticipated to reach USD 3 Billion by 2030, registering a CAGR of 6% during 2022-2030.
Plasma feed or blood plasma animal feed refers to the plasma proteins derived from animal sources and added in animal feed as protein ingredients. The global plasma feed market is anticipated to expand at a CAGR of 5.5% during the forecast period and reach a value of approximately USD 2.6 billion by the end of 2024. The growth of the plasma feed industry can be attributed to the rise in demand for plasma protein animal feed as an alternative to antibiotics. Spray-dried plasma is an effective replacement for antimicrobials added in the feed, especially piglet feed. Additionally, increasing consumer spending on pet food, especially in the developed nations, is a prominent factor boosting the growth of the plasma feed market. Animal-derived spray-dried plasma is rich in protein and is a highly preferred ingredient in canned pet food, especially cat food, due to its physicochemical properties and preference by cats.
Restraints in the growth of the global plasma feed market can be attributed to the ambiguity in the acceptance of products derived from animal blood such as plasma feedstock for livestock and pets. Moreover, the need for high capital to invest in the blood plasma animal feed refining technology inhibits the growth of the market. However, rising animal health concerns among the pet owners and livestock growers are expected to create opportunities for the market players during the next few years.
The global plasma feed market has been segmented on the basis of source, application, and region.
Based on source, the global plasma feed market has been divided into bovine, porcine, and others. The porcine segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period.
In terms of application, the global plasma feed market has been segregated into pet food, aquafeed, swine feed, and others. In 2018, the pet food segment garnered the largest revenue share of the global market. However, the aquafeed segment is expected to register the highest growth rate during the forecast period.
By region, the global plasma feed market has been classified as North America, Europe, Asia-Pacific, and the rest of the world.
The North American plasma feed market has further been segmented into the US, Canada, and Mexico. The market in Europe has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The plasma feed market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The plasma feed market in the rest of the world has been categorized as South America, the Middle East, and Africa.
Regional Market Summary
Global Plasma Feed Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Asia-Pacific is expected to dominate the plasma feed market during the forecast period due to the increasing demand for animal-based products such as blood plasma feed in the region. China, Vietnam, and South Korea are among the major country-level markets driving the market growth in Asia-Pacific. Additionally, high slaughter rate of animals in various Asia-Pacific countries fuels the growth of the regional market.
Global Plasma Feed Market, by Source
Global Plasma Feed Market, by Application
Global Plasma Feed Market, by Region
plasma feed market is projected to grow at approximately 5.5% CAGR during the assessment period (2019-2024).
plasma feed market is estimated to reach a valuation of approx. USD 2.6BN by the end of 2024.
Based on source, the porcine segment and based on application, the pet food segment, holds the major share in the global plasma feed market.
Asia Pacific holds the largest share in the global plasma feed market, followed by North America and Europe, respectively.
EcooFeed LLC (US), FeedWorks (Australia), Sera Scandia (Denmark), Veos Group (Belgium), Lihme Protein Solutions (Denmark), SARIA Group (Germany), Puretein Agri LLC. (US), Kraeber & Co Gmbh (Germany), Lican Food (Chile), The Lauridsen Group Inc. (US), Darling Ingredients Inc. (US), and Rocky Mountain Biologicals (US), and Germains Seed Technology, Inc. (US), are some of the top players operating in the global plasma feed market.