blood meal Market

The global blood meal market was valued at US$ 1,825.9 million in 2018 and is expected to grow at a CAGR of 3.4% from 2019 to 2027 to reach US$ 2,451.6 million by 2027.

Blood meal is dried form of animal blood collected from slaughtering of several livestock species such as cattle, pigs, and chickens under specific conditions. It is considered as rich source of proteins, and iron and nitrogen, and is used to supplement feed diets based on cereal grains, plant remains, and forages. Blood meal serves an advantage over plant-based protein and other feed ingredients owing to their rich nutritional profile and cost-effectiveness. Apart from their use in the feed industry, blood meal also finds application as natural and organic fertilizers. Therefore, the surge in demand for healthy feed products, coupled with increased focus on environmental sustainability and crop protection, is likely to drive the market for blood meal during the forecast period.

The blood meal market, based on applications,is segmented into porcine feed, poultry feed, ruminant feed, aqua feed, and others. The poultry feed segment accounted for the largest share of market in 2018, whereas the aqua feed segment is expected to register the highest CAGR during the forecast period. Aquaculture is supplying half of the seafood, coupled with fishery products that are consumed worldwide. With the increasing world population, the future demand for seafood will grow at a rapid pace and can only be met through expanded and sustainable aquaculture production. Aquaculture practices are likely to become more intensive, and with this, the dependency on nutritious feed comprising superior-quality ingredients is also likely to rise. To meet this challenge, various companies provide a wide variety of scientifically formulated and completely balanced nutritional products for economically important aquatic species. Protein is known to be the most important nutrient in fish diet; however, it should not only be chemically available in the product, but it should also be biologically available for the fish to utilize it. Many experiments have been carried out to find out the comparative effect of imported fish meal, blood meal, and local fish waste-based diets on the growth and survival of juvenile tilapia in a concrete tank. Also, the Nigerian Institute for Oceanography and Marine Research (NIOMR) stated that there was improvement in weight gain, average daily weight gain, and average body length between the blood meal treatments in aquaculture farming. Blood meals also are given for the shrimp culture for their better growth. Due to these factors, blood meal as the aqua feed is gaining popularity among the farmers and industries.

The blood meal market is broadly segmented into North America, Europe, AsiaPacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2018, Asia-Pacificheld the largest share ofthe global blood meal market, followed by North America.Further, Asia Pacific is estimated to hold the largest share of the blood meal market by 2027. Asia-pacific is the largest continent in the world and is known for its organic agriculture and feed products.Asia is among the world’s top feed-producing regions, and China is dominates the regional market, in terms of share, followed by countries such as Japan, India, Vietnam, Korea, Thailand, Malaysia, and Indonesia. These countries are witnessing rising demand for poultry, egg, and meat products. Moreover, the blood meal is also extensively used as an organic fertilizer to promote the growth of crops as well as to control pests. The growing preference among consumers for adopting healthy lifestyle has added to the demand for healthy animal-derived products, including blood meal, in the global market.

AllanasonsPvt Ltd, APC Company, Inc., Apelsa Guadalajara, SA de CV, DAR PRO Ingredients, Ridley Corporation Limited, Sanimax, Terramar Chile, The Boyer Valley Company, Inc., Valley Proteins, Inc., and FASA Group are among the players present in the global blood meal market.
    
The global blood meal market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the blood meal market.