Global Blood Meal Market: Overview
A blood meal is the dried blood of animals having high protein and nitrogen content, which is primarily used for feeding livestock. A majority of the key players operating in the blood meal market, such as Boyer Valley, Darling Ingredients, and Valley Proteins Inc., and FASA Group, prefer to use poultry blood as a raw material.
Globally, the growing feed and fertilizer sectors is a key factor for the increased consumption of blood meal. Further, the increasing demand for protein-rich feed additives is anticipated to boost the demand for products like blood meal. The worldwide blood meal market is growing at a faster pace since last decade, and thus, opening numerous opportunities for emerging market players.
The increasing number of meat consumers and animal-based products is leading to the release of a massive amount of blood, which is offering large amounts of raw material to manufacturers. The current ‘move to organic’ trend is influencing market growth to a great extent. This opens numerous opportunities for researchers and manufacturers to promote blood meal products, such as organic fertilizers.
Global Blood Meal Market: Key Players
In the global blood meal market, prominent manufacturers are focusing on developing sustainable fertilizers and animal feed. Government regulations related to blood meal in several countries are forcing manufacturers to find alternative raw materials for the production of blood meals.
Some key market participants are Darling Ingredients, Terramar, West Coast Reduction, Valley Proteins Inc., Ridley Corporation, Agro-industrial Complex Backa Topola LTD, Allana Group, The Fertrell Company, Allanasons Private, The Boyer Valley Company, FASA Group, Sanimax, APC Inc., Apelsa Guadalajara, and Allana Group, among other prominent players.
Global Blood Meal Market to Grow at a Moderate CAGR over Forecast Period
The global market of blood meal is likely to showcase moderate growth during the forecast period, owing to the shifting consumer preference of using organic fertilizers. According to Fact.MR, the market is likely to grow at a moderate during the forecast period.
The blood meal market is dominated by the APEJ region, and this dominance is expected to continue throughout the forecast period. Historically, market growth in Europe and Latin America is is expected to remain stagnant over the forecast period.
Countries such as the U.S., Indonesia, Brazil, India, China, Turkey, and japan are expected to significantly propel the demand for blood meal over the forecast period. Key players in the blood meal market are focused on getting FDA (Food and Drug Administration) approval for developing blood meal from other animal blood.
Increase in Demand for Nutritional Supplements for Monogastric Animals and Fertilizers
Blood meal is primarily used as a feeding material for ruminant, procaine, poultry, and aquatic animals. Compared to other animals, the consumption of blood meal for poultry feed is the highest. The demand for blood meal in APAC countries is expected to rise during the forecast period, owing to increasing agricultural activities.
Chemical fertilizers are not complete and balanced. They only provide an artificial version of three elements, which is not enough for plants to thrive. The multiple benefits of blood meal for prominent industries are expected to boost market growth during the forecast period.
Global Blood Meal Market: Segmentation
The blood meal market has been segmented into different parts based on source, type, application, sales channel, and region.
Based on source, the blood meal market is segmented into:
- Porcine Blood
- Poultry Blood
- Ruminant Blood
Based on type, the blood meal market is segmented into:
- Drum Dried
- Ring and Flash Dried
- Solar Dried
- Spray Dried
Based on application, the blood meal market is segmented into:
- Poultry Feed
- Porcine Feed
- Ruminant Feed
- Aqua Feed
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