The blood meal market is estimated to be valued at USD 1.8 billion in 2019 and is projected to reach USD 2.1 billion by 2025, recording a CAGR of 3.0% during the forecast period. The increasing consumption of livestock-based products, feed production, and standardization of meat products due to disease outbreaks, and implementation of innovative animal husbandry practices to improve the meat quality have led to high demand for blood meal.
- 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.
The Asia Pacific region is the fastest-growing market for blood meal and is projected to record the highest CAGR during the forecast period. The growing population and urbanization are encouraging consumers to opt for animal-sourced foods, which is significantly projected to drive the Asia Pacific blood meal market. Poultry meat and swine meat are popular among consumers in the Asia Pacific region. China is a major meat consuming country with a large population base of over 1 billion. This country is projected to be a major revenue pocket for blood meal manufacturers in the coming years. According to the Food and Agriculture Organization (FAO), the demand for livestock products has increased in this country in recent years.
Key players in the blood meal market include Darling Ingredients (US), Terramar (Chile), West Coast Reduction (Canada), Valley Proteins, Inc. (US), and Ridley Corporation (Australia). Market leaders such as Darling Ingredients (US) are focusing on tapping the potential markets through acquisitions.
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Key questions addressed by the report:
1. What are the new application areas for blood meal that companies are exploring?
2. Which are the key players in the blood meal market and how intense is the competition?
3. What kind of competitors and stakeholders such as blood meal companies, would be interested in this market?
4. What will be their go-to-market strategy for this market, and which emerging market will be of significant interest?
5. How are the current R&D activities and M&A’s in the blood meal market projected to create a disrupting environment in the coming years?
6. What will be the level of impact on the revenues of stakeholders due to the benefits of blood meal to different stakeholders‒‒from rising revenue, environmental regulatory compliance, to sustainable profits for the suppliers?
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