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, 2024-2031
Market Overview
A Report by DataM Intelligence estimates the Global Blood Meal market to grow at a CAGR Of 3% during the forecast period 2024- 2031. The market is expected to grow because it becomes important in different industries like Poultry Feed, Porcine Feed, Ruminant Feed, Aqua Feed, Natural Pest Deterrent, Organic Fertilizer. The competitive rivalry intensifies with Boyer Valley Company, LLC, The Fetrell Company., Terramar Chile, and others operating in the market.
Market Summary
| 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 |
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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.
Market Segmentation Analysis
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 . 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.
Market Geographical Share
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 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.
Company and 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 on 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.
