Blood Meal Market

Blood Meal Market Size, Growth, Trends and Forecast:

The Blood Meal Market was estimated at USD 1.9 billion in 2021 and is determined to reach an extent of USD 2.2 billion by 2026 with a CAGR of about 3.1% throughout the conjecture period (2022 - 2027).

A blood meal is a dry, inert powder made from blood, used as a protein rich food for animals and as a fertilizer. It guarantees nutritious and safe food for animals. Blood is a perishable product; therefore, it is processed and collected during the slaughter of pigs, cattle, chickens and others. Blood meal contains a large amount of protein and is used as a food supplement based on plant by-products, grains and forage. The drying process is crucial because there is an inverse relationship between protein digestibility and the amount of heat applied. The increasing adoption of pets across the world is a crucial factor driving the growth of the blood meal market as it is prominent in the global pet food industry. The market is driven by increased consumption of animal products in emerging countries due to increased urbanization.

Impact of Covid-19 on Blood Meal Market:

The Covid-19 pandemic had an immense impact on the global blood meal market due to the shutdown of manufacturing units across the world, along with the shift of consumers from meat products to plant-based products. The rise in the animal diseases has encouraged people to consume fresh fruits and vegetables, resulting in a negative impact on the blood meal business. The trend is foreseen to continue for some time in the coming years.

Recent Developments:

Darling Ingredients Inc. announced that it has acquired a 50% interest in the joint venture EnviroFlight, LLC, owned by Intrexon Corporation, increasing its stake in EnviroFlight to 100% EnviroFlight, LLC., a leading developer of proprietary technologies that allow evolutionary breeding of non-pathogenic black soldier fly (BSF) larvae.

Drivers and Restraints of Blood Meal Market:

The main factors driving the growth of the global blood meal market are increased disposable income, urbanization, and demand for animal protein. With the increasing need for animal meat and animal products, there is a surge in the slaughter of animals, opening up various opportunities for blood meal manufacturers. The current trend of "going organic" is proving to be a positive factor for the blood meal market. A blood meal is one of the non-synthetic sources of nitrogen and is therefore used as a natural fertilizer. These foods are derived from animals, a natural source of high-quality protein and other nutrients are expected to gain ground due to the increasing demand for natural food ingredients.

The multiple benefits of blood meal for major industries are expected to spur market growth during the forecast period. The strict regulatory framework is likely to impede the development of the global blood meal market to some extent. Population growth, the growing demand for animal products, as well as the growing need for natural and organic food products are some of the main factors driving the world market for blood meal. Blood is considered a liquid protein due to its high protein concentration and is rich in amino acids such as lysine, and therefore has an advantage over plant proteins that are low in lysine. Blood meal is one of the highest non-synthetic nitrogen sources, and is used as a natural fertilizer. Lack of awareness and refusal to accept a blood-derived food ingredient are some of the factors hindering the growth of the global blood meal market.

BLOOD MEAL MARKET REPORT COVERAGE:

Blood Meal Market Segmentation:

Blood Meal Market – By Source:

• poultry

• pigs
• and ruminants

Blood Meal Market – By Process:

• Flash Drying
• Ring
• Spray
• Drum
• and Solar Drying

Blood Meal Market – By Application:

• poultry feed
• pig feed
• ruminant feed
• and others

The other segment includes aquatic nutrition, natural pest deterrence and organic fertilizers used on plants.

According to the source, it is estimated that the poultry segment represents the significant part of the market. Due to the presence of a high lysine content, which is the amino acid content, poultry is the most preferred raw material for producing a blood meal. Based on lawsuits, the poultry feed segment is expected to experience significant market growth during the forecast period. This is due to increased demand for bird feed in the emerging economies of the Asia Pacific, resulting in the slaughter of animals. Therefore, animals release a large amount of blood, creating many opportunities for the blood meal business. In addition, increased adoption of poultry products in this region is expected due to increased demand for protein-rich foods to drive market growth.

Furthermore, the pig feed segment is gaining significant ground in the market. A blood meal is generally used as a protein source in pig feed because it contains a large amount of raw protein. It acts as an alternative to soy flour in corn and soy-based diets in growing pigs. Therefore, it is estimated that the pig feed segment will experience a significant escalation during the forecast period.

Regional Analysis:

The Blood Meal market has been divided by geography in regions of North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. The Asia-Pacific region market is expected to dominate the global market in terms of revenue during the outlook period. The increasing inclination towards food of animal origin is a growth factor of the target market in this region. The presence of the main meat consuming countries such as pork in China and Vietnam is another factor that supports the growth of the target market in this region. Increasing urbanization and population growth are also factors driving the growth of the blood meal market in countries in the Asia-Pacific area. The North American market is supposed to experience lucrative revenue growth in the near future. The increase in people's consumption of meat, milk and eggs is a factor that is expected to drive growth in the target market in the coming years.

Leading Company:

West Coast Reduction Ltd. had the prominent portion of the Global Blood Meal Market in terms of sales and revenue in 2019.

Key Players:

The global Blood Meal Market is concentrated with key players that include Sanimax Corp., West Coast Reduction Ltd., FASA Group, The Boyer Valley Co., Inc., Allana Group, Darling Ingredients, Valley Proteins, and Pure Top Group Co., Ltd.