Blood Meal Market: Global Industry Analysis, Trends, Application Analysis and Growth by Forecast to 2030
Market Overview
Market Research Future (MRFR) studied the global blood meal market2021 along the review period till 2025. As per MRFR assessment, the worldwide blood meal market is expected to rise at 3.0% CAGR in the analysis period (from 2019 to 2025). By 2025, the global blood meal market value is likely to touch cross USD 2.1 Billion. Blood meal is a rich source of protein and is extensively used as animal feed. Its rich nitrogen content makes it a good fertilizer. The growing utility of blood meal as fertilizers in cultivation is expected to support the market rise. People are highly inclined towards organic products. This leads to the gradual rise in the demand for blood meal as farmers adopt extensive organic farming practices.
Segmental Analysis
The segment evaluation of the blood meal market is based on source, application, and process.
The source-based segments of the blood meal market are ruminant blood, and porcine blood, and poultry blood. The poultry blood segment of the blood meal market accounted for the highest market share, reveals MRFR data. The poultry blood segment is expected to expand at the highest CAGR in the evaluation tenure as the surge in the consumption of poultry meat is encouraging poultry farming activities, which, in turn, can favor the blood meal market across developing countries. The growing preference for poultry blood as the raw material in the preparation of blood meal due to its high amino acid content, especially lysine, is expected to prompt the market rise.
The process-based segments of the blood meal market are drum drying, spray drying, ring and flash drying, and solar drying. The solar drying segment is expected to garner decent revenue by 2025. The growing utility of solar drying in small-scale operations or in case of absence of advanced equipment is expected to support the market expansion.
The application-based segments of the blood meal market are fertilizers and animal feed. The fertilizers segment is likely to rise at a high pace as the demand for organic fertilizers is increasing. The rising adoption of organic farming and the growing demand for organic food supplies are other causes that are expected to prompt the growth of the fertilizer segment.
Regional Analysis
In the Asia Pacific region, the porcine blood meal is expected to grow at a considerable CAGR owing to several demographic causes. Extensive practise of organic farming and resulting in the adoption of organic blood meal fertilizers, thus driving their sales is expected to prompt the market upsurge in the near future. In addition, the spreading awareness among consumers about organic blood meal fertilizers is replacing synthetic fertilizers due to their harmful effects. This is expected to benefit the APAC blood meal market in the study tenure. Farmers are also focusing on the adoption of new products and methods to improve their yield from organic cultivation, which is observed to favor the use of blood meal as it is a rich source of nitrogen. The utility of blood meal as a composting activator is expected to favor the market rise in the near future.
In North America, the expansion of the e-commerce platforms is likely to thrive owing to the booming e-commerce sector. The presence of some giant retail stores in the region that offer enhanced user experience is expected to benefit the market in the years to come. The availability of effective distribution channels in APAC that aid in seamless delivery services is another important factor that is likely to benefit the blood meal market in the approaching years. The growing dominance of e-commerce platforms is likely to cause the non-store-based distribution channel to thrive by registering the higher CAGR by 2025. The growth of the non-store based segment is attributed to the convenience of delivery offered by differnet ecommerce platforms. Local producers of blood meal are opting for this form of sales channel by offering their products through well-established e-commerce portals.
Key Players
West Coast Reduction Ltd. (Canada), Darling Ingredients Inc. (US), Terramar Chile SpA. (Chile), Apelsa Guadalajara SA de CV (Mexico), Agro-industrial Complex Bačka Topola LTD (Serbia), Danone India (Nutricia) (India), The Jobe's Company (US), Integrative Therapeutics (US), Valley Proteins Inc. (US), The Boyer Valley Company (US), Allanasons Pvt Ltd (India), Ridley Corporation Limited (Australia), FASA Group (Brazil), Sanimax (US), and APC, Inc. (US) are some reputed companies in the blood meal market that are listed by MRFR.
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