The global plasma feed market is projected to grow from USD 2.1 billion in 2019 to USD 2.9 billion by 2025, at a CAGR of 5.7%. Plasma feed includes the feed products that involve animal-derived plasma proteins as the feed ingredient. The market for plasma feed has been growing at the global level due to the rise in demand for alternative protein sources in the feed industry. The market for plasma feed is consolidated in nature as the major share is occupied by a few players at the global level.
Growing demand for high-quality pet food is one of the major factors affecting the growth of the plasma feed market during the forecast period.
The trend for the use of natural and bioactive products is very prevalent in the pet food industry. This is attributed to factors such as the expansion of the pet population, and customer attitudes toward their pets as companions or family. Additives play a significant role in enhancing the quality of feed for pets. Keeping the concerns of pet owners in mind, many companies are coming up with the feed products made up of naturally sourced ingredients. The increase in demand for naturally sourced pet food has resulted in the inclusion of animal-based plasma proteins as one of the major ingredients in pet food.
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Based on the source, the porcine segment is projected to be the larger contributor to the plasma feed market during the forecast period
The plasma feed market has been segmented, based on source, into porcine, bovine, and others, which includes sheep, goat, and poultry. The market for porcine plasma feed is projected to record a higher market share between 2019 and 2025. Porcine blood meal offers various health benefits to animals and is used significantly in poultry and porcine feed. For instance, as per the National Center for Biotechnology Information (NCBI), “pigs fed diets containing porcine plasma had greater average daily feed intake (ADFI) and average daily growth (ADG).”
Plasma feed is projected to be used majorly in pet food during the forecast period
The major factor for the higher adoption of plasma feed in pet food is anticipated because the tendency of people to humanize pets and treat them like their family members has resulted in the high demand for better quality pet food. The trend for the use of natural and bioactive products is very prevalent in the pet food industry. This is attributed to factors such as the expansion of the pet population, customer attitudes toward their pets as companions or family. As per Darling Ingredients, one of the major brand engaged in the production of plasma feed products quoted that plasma protein is a natural and sustainable source for pet food. It has several advantages such as water binding capacity, emulsifying properties, and palatability, which in turn drives the market for plasma feed among pet food manufacturers.
The Asia Pacific is projected to account for the largest market share during the forecast period
The Asia Pacific plasma feed market is projected to be the largest between 2019 and 2025 and is expected to grow at the highest CAGR during the same period. The steadily improving economy has been driving the overall meat food market in the region, which has, in turn, been boosting the plasma feed market as well. According to the Food and Agriculture Organization (FAO), the demand for livestock products has grown in this region in recent years. For instance, meat consumption has grown at a rate of 5 % and for dairy products at a rate of 3.5-4% per year. The increased demand for pork in the region, along with the rise in the consumption of beef in China is expected to increase the number of slaughters, which can eventually improve the market suppply need for plasma feed manufacturers.
Key players in plasma feed market include Darling Ingredients Inc. (US), The Lauridsen Group Inc. (US), SARIA Group (Germany), Sera Scandia (Denmark), Lican Food (Chile), Puretein Agri LLC. (US), Veos Group (Belgium), Kraeber & Co Gmbh (Germany), Rocky Mountain Biologicals (US), Lihme Protein Solutions (Denmark), EcooFeed LLC (US), and FeedWorks (Australia).
Critical questions the report answers:
Where will all these developments take the industry in the mid-to-long term?
What are the upcoming commercial prospects for the plasma feed market?
What is the impact of high capital investment on the plasma feed market?
What are the new technologies introduced in the plasma feed market?
What are the latest trends in the plasma feed market?
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