Global Blood Meal Market Outlook
Market
Research Future (MRFR) forecasts a promising future for the blood meal market,
with a projected growth from USD 2.2 billion in 2022 to USD 2.99 billion by
2032, translating to a CAGR of 3.50%. This growth is driven by several key
factors:
- Rising Demand for Meat
Products: The
increasing consumption of meat, particularly poultry, is a major driver.
Blood meal, rich in protein and essential amino acids, is a valuable
ingredient in animal feed, promoting healthy growth in livestock.
- Focus on Sustainability: Blood
meal market offers a sustainable solution for utilizing byproducts
from the meat industry. It reduces waste and provides a valuable source of
nutrients for animal feed and fertilizers.
- Cost-Effectiveness: Compared to some
plant-based protein sources, blood meal offers a cost-effective option for
animal feed producers.
- Organic Farming Trends: The growing demand for
organic food creates synergies with blood meal, as it can be used as a
natural fertilizer without compromising organic certification.
Market
Trends Shaping the Future
- Consumer Preferences: Consumers' willingness to
pay a premium for sustainably produced food incentivizes farmers to adopt
practices that utilize blood meal.
- Focus on Protein Quality: Blood meal's high protein
content and essential amino acid profile, particularly lysine, make it a
valuable protein source for animal feed.
- Regulatory Landscape: Stringent regulations
related to animal welfare and environmental sustainability might impact
the market. However, increased focus on traceability and responsible
sourcing could lead to new growth opportunities.
Market
Segmentation: A Deeper Dive
The blood
meal market can be segmented based on source, process, and application:
- By Source:
- Poultry
Blood: The dominant segment due to the increasing popularity of poultry
farming.
- Porcine
Blood: Rich in crude protein and gaining traction for porcine diets.
- Ruminant
Blood: Expected to see moderate growth.
- By Process:
- Ring
and Flash Drying: Generates the highest revenue due to its efficiency in
drying blood meal while preserving its nutritional value.
- Other
Processes: Solar drying, drum drying, and spray drying are also used.
- By Application:
- Animal
Feed: The largest segment due to the rising demand for meat products.
- Fertilizers:
A growing segment fueled by the increasing adoption of organic farming
practices.
Regional
Market Insights
- North America: Holds the largest market
share due to the presence of a well-established animal feed industry and
high meat consumption.
- Europe: Focuses on blood meal as a
cost-effective and protein-rich alternative to plant-based feed
ingredients.
- Asia-Pacific: Expected to witness the
fastest growth due to the expansion of livestock production and growing
awareness of sustainable practices.
Key Players
and Competitive Landscape
Leading
companies in the blood meal market are:
- Darling Ingredients Inc.
(US): A
major player with a global presence, offering various blood meal products
and investing in R&D for innovative applications.
- Sanimax (US): A family-owned company
with a focus on innovative and sustainable blood meal processing.
- Other Key Players: Terramar Chile SpA.
(Chile), West Coast Reduction Ltd. (Canada), FASA Group (Brazil), Valley
Proteins Inc. (US), Ridley Corporation Limited (Australia), Allanasons Pvt
Ltd (India), The Boyer Valley Company (US), APC Inc. (US), and Apelsa
Guadalajara SA de CV (Mexico).
Industry
Developments
- May 2022: Darling Ingredients
acquired Fasa Group, expanding its geographical reach and product
portfolio.
- January 2020: Darling Ingredients
invested in EnviroFlight, showcasing their commitment to innovative
protein solutions.
- Sanimax: Launched new blood meal
products derived from ruminant and non-ruminant sources.
About US
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