Blood Meal Market

SKU: DMFB2923 | Last Updated On: Sep 12 2022 | Available Formats

>Blood Meal Market Expected to reach a high CAGR of 3% during the forecast period 2022-2029:

Blood Meal Market is segmented By Source (Porcine Blood, Poultry Blood, Ruminant Blood), By Application (Poultry Feed, Porcine Feed, Ruminant Feed, Aqua Feed, Natural Pest Deterrent, Organic Fertilizer), By Process (Solar Drying, Drum Drying, Ring and Flash Drying, Spray Drying), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Blood Meal Market is expected to grow at a CAGR of 3% during the forecasting period (2022-2029). The blood meal is an inert and dry powder made by drying the animal blood collected from animals killed and used for meat. Blood Meal is used as a protein source for animal feed and is one of many ingredients that a nutritionist will use to formulate a complete feed. This finished product is high in nitrogen and can be used in organic farming. Increasing production of feed, growing preferences towards aquaculture products, rising urbanization, and increasing demand for livestock products, growing awareness among the people regarding protein supplements will likely enhance the blood meal market's growth in 2020-2027. On the other hand, the rising demand for nutritional supplements for monogastric animals will further boost various opportunities to lead to the blood meal market.

Blood Meal Market Dynamics:

Growth of poultry feed industry

Among all feed ingredients, blood meal is an important feed ingredient primarily used in poultry feed as it is considered a best-performing, cost-effective ingredient. Its nutritional profile is widely known and rich in protein, iron, and lysine amino acid. Other than this, blood meal also enhances pepsin digestibility and is, therefore, used in supplementary proteins with plant-derived feed ingredients. Thus, the rising demand for poultry from nations worldwide has contributed to the rise and development of the blood meal market. To meet the constantly increasing demand for blood meal products in the poultry industry, several manufacturers—such as APC Company, Inc., Bar-Magen Ltd, and Ridley Corporation Limited—are engaged in blood manufacturing meals livestock feed. The increasing awareness regarding blood meals and their functional properties has also favoured the global blood meal market growth. However, the lack of awareness and unwillingness to accept a feed ingredient derived from blood hinders the blood meal market's growth.

Blood Meal Market Segmentation:

The poultry blood segment is predicted to hold a prominent share in the global market of blood meals.

The blood meal market, by source, has been segmented into porcine blood, poultry blood, and ruminant blood. By source, the market is estimated to be dominated by the poultry blood segment in 2020 and is also projected to grow at a higher CAGR of XX%. Poultry blood is collected mainly for two purposes—to obtain serum that can be tested for the presence of antibodies against various viruses and to obtain red blood cells, for which the blood is collected into anticoagulant. These cells can be further used in preparing blood meals. The minimum protein content found in poultry blood meals is 80%. A meal produced using poultry blood is one of the natural sources of protein used as an ingredient in animal feed for swine, poultry, fish, and other no ruminant species. The food manufacturing industry is the major contributor to poultry blood's overall demand due to the constant global demand for pet food.

Blood Meal Market 

Metrics

Details

Market CAGR

3%

Segments Covered

By Source, By Application, By Process, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Blood Meal Market Geographical Penetration:

The Asia Pacific is expected to be the fastest-growing market for the forecast period.

Asia Pacific is expected to dominate the global blood meal market with a market revenue share of XX% in 2020. Asia-pacific is the largest continent in the world and is known for its organic agriculture and feed products. Asia has ranked highest amongst feed-producing regions. China is dominating the regional market, followed by other countries such as Japan, India, Vietnam, Korea, Thailand, Malaysia, and Indonesia. These countries are witnessing rising demand for poultry, egg, and meat products. Apart from its utility in the feed industry, blood meat is extensively utilized as an organic fertilizer to promote growth and control pests. The growing consciousness among consumers for a healthy lifestyle has posed a demand for healthy animal-derived products, which is expected to boost blood meals in the region.

Blood Meal Market Competitive Landscape:

Blood meal market is highly competitive with existing players in the market. Many companies are taking an interest to invest in the blood meal market owing to increasing opportunities. For instance, Ridley Corporation has started a wholly new subsidiary (CSF Proteins) for animal protein products. Manufacturers invest in R&D and promote blood meal products like organic fertilizer because the prevention of iron chlorosis with Fe synthetic chelates is a widespread agronomical practice but implies high costs and environmental risks. Moreover, the market is governed by several regional and local players recognized through their prominent brands. For instance, DAR PRO Ingredients is a Darling Ingredients Inc. subsidiary and provides blood meals in the US.

COVID-19 Impact: COVID-19 harms the blood meal market

The food processing industry is one of the world's major industries suffering from serious factory shutdown, supply chain disruptions, technology events cancellations, and office shutdowns resulting from this outbreak. Consumer behaviour shifts are having a major impact on the food industry. They will likely lead to permanent changes in how consumers shop for food and how supply chains respond to changing consumer demand. As both retailers and manufacturers prioritize the re-stocking of essential food items in response to COVID-19, the daily routines and activities of food scientists, purchasing managers, and operations personnel have changed. The focus shifts from product innovation and new launches to minimizing supply disruptions and shortages. Weaker consumer demand for lifestyle and well-being products due to social restrictions and lockdown policies shall negatively impact the poultry feed industry's demand patterns.

Recent Developments:

  • In July 2019, Darling Ingredients Inc. opened its third organic fertilizer production facility in Fremont, NE.  The facility is located on a 10-acre site to produce 35,000 tons of Nature Safe Natural & Organic Fertilizers annually.  The new plant and finished product storage are designed to meet the needs of organic growers operating in the United States' central region. s

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