Plasma Feed Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Plasma Feed Market is segmented By Source (Porcine, Bovine, Others), By Application (Swine Feed, Pet Food, Aquafeed, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Plasma Feed Market Overview

Plasma feed is a form of animal feed that contains plasma proteins extracted from the animals. Vitamin phosphorus, vitamin B12, calcium, sodium, potassium, chloride, and magnesium are all found in large quantities in plasma feed. It's also high in essential amino acids and has been shown to outperform other protein sources including skim milk. Increasing applications from the aquafeed industry, growing demand for plasma feed as compared to antibiotics due to their benefits, rising demand for various and high protein feed ingredient, increasing need to adopt sustainable methods for food production are some of the major as well as vital factors which are expected to augment the growth of the plasma feed market in the forecast period. On the other hand, rising support and initiatives from livestock, the food industry, and changing diet patterns, urbanization, and economic growth will further contribute by generating massive opportunities that will lead to the growth of the plasma feed market.

Plasma Feed Market Scope

To Know More Insights - Download Sample

Plasma Feed Market Dynamics

Increasing demand for animal-based protein sources

The livestock industry has been under increasing pressure in recent years to meet rising demand for meat and high-value animal protein. Global livestock consumption has increased as a result of population growth, rising incomes in developing nations, and urbanization. The intake of milk, meat, and eggs, which is increasing at the expense of staple foods, is directly related to level of income and consumption of animal protein. As a result of urbanization, there is a higher demand for milk and meat products in cities than rural areas, resulting in the rising per capita consumption from 42.13 kg in 2010 to 43.71 kg in 2016. The consumption of animal meat has been steadily increasing, according to the OECD-FAO. It grew from 320446.22 million tons in 2017 to 327230.41 million tons in 2019. According to the International Feed Industry Federation (IFIF), global demand for animal protein is steadily increasing from the poultry, dairy, and fish sectors. On a per capita basis, apparent fish consumption is projected to be 21.4 kg in live weight equivalent (LWE) by 2029, up by 4.7% from 20.4 kg in 2017-2019. As more people are becoming aware of the health benefits of fish consumption, demand for fish is rapidly increasing. As a result, the global plasma feed market is being driven by increasing life expectancy and limited land and water resources for animal feed production, as well as strong demand for animal-based protein sources.

However, factors such as uncertainty in acceptance of blood-based products for livestock feed, high investment in refining technology at a commercial scale, stringent global regulatory framework for animal-based protein in ruminant feed are restraining the market growth over forecast period. Moreover, low standard livestock production practices causing disease outbreaks are affecting plasma manufacturing.

Plasma Feed Market Segmentation

Pet Food is expected to be the fastest growing segment with a high CAGR during the forecast period 2022-2029.

The tendency of people to humanize pets and treat them as family members has resulted in a high demand for better quality pet food, which is expected to be a major factor of plasma feed adoption in pet food. The use of natural and bioactive products is becoming increasingly common in the pet food industry. This can be due to a variety of factors, including the growing pet population and customer attitudes toward their pets as companions or family members. Plasma protein is a natural and sustainable source for pet food, according to Darling Ingredients, a major brand involved in the production of plasma feed products. Plasma feed has many benefits, including water binding capacity, emulsifying properties, and palatability, which drives the demand for pet food manufacturers.

As a result, the growing enthusiasm with which consumers pursue functionality in purchases for their own consumption is also shared when purchasing pet foods, with the aim of making healthier rather than indulgent choices. This shift in consumer preference to this end has been reflected in a decision by Petco which is a leading pet specialty retailer headquartered in California USA and operating out of more than 1500 location, back in 2018, when it had announced, it will cease selling food and treats containing artificial colors, flavors, and preservatives for dogs and cats by May 2019.  Further, a New Zealand based ZIWI Peak launched a new line of product called Provenance that includes both airdried and wet meals in February 2020. The wet diets comprise lamb plasma, eggs, and animal-based broths as natural binders. Thus, in addition to the quality of the product, the type of ingredients has emerged as one of the major determinants influencing a consumers’ choice.

Plasma Feed Market Geographical Penetration

Asia Pacific is witnessing a highest CAGR of XX% during the forecast period

The Asia Pacific plasma feed market is expected to be the largest between 2021 and 2028 and is expected to grow at the highest CAGR of XX% during the same period. The region's overall meat food market has been driven by a steadily improving economy, which has boosted the plasma feed market as well. The demand for livestock products in this region has increased in recent years, according to the Food and Agriculture Organization (FAO). For instance, meat consumption has increased by 5% per year, while dairy consumption has increased by 3.5-4 percent per year. According to the OECD-FAO, India's consumption of poultry meat has been steadily increasing. From 3,428.04 thousand tons in 2016 to 3,819.24 thousand tons in 2019, it has risen. As a result, plasma feed is in higher demand in Asia Pacific to boost animal health. Moreover, 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 supply need for plasma feed manufacturers.

Plasma Feed Market Competitive Landscape

The plasma feed industry is still in its infancy, resulting in a consolidated market. Even in developed economies, the plasma feed market is still in its infancy due to a lack of awareness and a regulatory framework that is impeding market development. Furthermore, the market in a few developed economies is heavily regulated, making it difficult for new players to enter the market. Some of the major players of the market include Daka Denmark A/S, Darling Ingredients, Inc., Lauridsen Group, Inc., Kraeber & Co GmbH and Lican Food. These players are undertaking strategies such as new product launches and acquisitions to improve their market positions and extend their competitive advantage. For instance, in January 2020, Darling Ingredients bought out Intrexon by acquiring the remaining 50% stake in EnviroFlight, a producer of non-pathogenic black soldier fly larvae at scale. In November 2019, Darling Ingredients Inc. has acquired the stock of PPH Conto Ltd., a food-grade animal fat processing facility in Lubien Kujawski, Poland.

COVID-19 Impact on Plasma Feed Market

Global plasma feed market is expected to witness positive impact owing to the pandemic

This outbreak is expected to substantially impact the global plasma feed market’s overall growth in 2020. During the COVID-19 situation, the need for effective sterilization and disinfection has witnessed tremendous growth. This factor is expected to increase the plasma’s growth feed market amid the ongoing pandemic. Also, with rising call for hygiene and tests in the food and beverages industry, the plasma feed market is likely to grow in the forecast period.