The blood meal market is estimated to account for a value of USD 1.8 billion in 2019 and is projected to grow at a CAGR of 3.0% from 2019, to reach a value of USD 2.1 billion by 2025. The rise in disposable incomes, urbanization, and increased demand for animal proteins in the Asia Pacific countries is projected to drive the blood meal market in the coming years. In addition, increasing consumption of livestock products such as meat, eggs, and milk in the US, is projected to drive the blood meal market in North America.
Report Objectives:
- To define, segment, and project the global market size for blood meal
- To understand the structure of the blood meal market by identifying its various subsegments
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the micromarkets, with respect to, individual growth trends, future prospects, and their contribution to the total blood meal market
- To project the size of the market and its submarkets, in terms of value and volume, with respect to the regions (along with their respective key countries)
- To profile key players and comprehensively analyze their core competencies
- To understand the competitive landscape and identify the major growth strategies adopted by players across key regions
- To analyze the competitive developments such as expansions & investments, mergers & acquisitions, new product launches, partnerships, joint ventures, and agreements
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The poultry feed segment is projected to be the largest revenue contributor in the blood meal market during the forecast period.
Poultry blood is one of the most preferred raw materials that is used for the production of blood meal. By source, the poultry feed segment is the largest segment in the global blood meal market, in terms of volume. Consumption of poultry blood is increasing in the emerging countries of the Asia Pacific and South America. This is projected to increase the number of animal slaughter in these regions, thus increasing the blood meal production in these regions.
The porcine feed segment is projected to record the fastest growth during the forecast period.
Blood meal is high in crude protein and is commonly used as a protein source in diets for porcine. In growing pigs, blood meal partially replaces soybean meal in maize- and soybean-based diets. Feeding growing pigs with fermented blood meal, in combination with molasses, allows the same feed intake, growth, and feed conversion efficiency as soybean meal. Dried blood meal is commonly used as a high-quality protein source in nursery pig diets. Thus, the porcine feed segment in the blood meal market is projected to record the fastest growth during the forecast period.
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The Asia Pacific region is projected to account for the largest market size during the forecast period.
The Asia Pacific region is projected to account for the largest share in the market during the forecast. The growing population and urbanization have encouraged consumers to opt for animal-source foods, which are some of the key factors that are driving the Asia Pacific blood meal market.
This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the blood meal market. It includes profiles of leading companies such as Darling Ingredients (US), Terramar (Chile), West Coast Reduction (Canada), Valley Proteins, Inc. (US), Ridley Corporation (Australia), Allanasons Private (India), The Boyer Valley Company (US), FASA Group (Brazil), Sanimax (Canada), APC, Inc. (US), and Apelsa Guadalajara (US).
