According to the latest industry research report by Fact.MR, the global blood meal market is currently valued at approximately USD 2.28 billion in the year 2023. This market is anticipated to witness a steady growth rate, with a projected Compound Annual Growth Rate (CAGR) of 3.6%, ultimately reaching a value of USD 3.25 billion by the year 2033.
The escalating demand for animal protein is a key driver behind the increasing sales of blood meal. The growing consumption of meat products is contributing to the greater availability of various blood meal products. Furthermore, the recognized benefits of blood meal are leading to its growing adoption as both a dietary supplement and an organic fertilizer for livestock.
For more insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4205
Growth Drivers:
- Rising Demand for Organic and Natural Fertilizers: With increasing awareness about environmental sustainability and organic farming practices, there was a growing demand for organic and natural fertilizers. Blood meal, being a natural source of nitrogen and other nutrients, was sought after by organic farmers as an alternative to synthetic fertilizers.
- Nutrient-Rich Source for Plants: Blood meal is rich in nitrogen, a crucial nutrient for plant growth and development. It provides a quick release of nitrogen to plants, making it valuable for crops that require a rapid boost in nutrient availability, such as leafy greens and vegetables.
- Animal Feed Industry: Blood meal is also used as an ingredient in animal feed due to its high protein content. It can be fed to livestock and poultry to supplement their diets with essential amino acids. The growth of the livestock industry and the demand for protein-rich animal feed contributed to the demand for blood meal.
- Increasing Meat Production: As global meat consumption and production continued to rise, so did the availability of blood as a byproduct of slaughterhouses. Blood meal production utilized this byproduct effectively, reducing waste and providing an additional revenue stream.
- Growing Awareness of Blood-Borne Pathogens: Blood meal can be processed and treated to minimize the risk of pathogens, making it a safer product for agricultural and feed use. The increasing awareness of proper processing techniques and safety measures contributed to the market’s growth by addressing concerns about contamination.
- Sustainable Waste Management: Blood meal production contributes to sustainable waste management by utilizing a byproduct that might otherwise be discarded, thereby reducing the environmental impact of slaughterhouse waste.
Competitive landscape:
Companies involved in the production and supply of blood meal are investing to ensure the quality control of products, strengthen their systems adopted for supply chain management, maintain product standards, etc.
Blood meal manufacturers are spending significantly on several R&D activities for product innovations to expand their reach across boundaries. They are adopting various strategies, including product launches, collaborations, and others to get a competitive edge.
For instance :
- In May 2022, Darling Ingredients Inc. acquired FASA Group to extend its geographical presence and offer new products in the blood meal space.
- In January 2020, Sanimax launched a new animal protein, which consists of products, including blood meal from non-ruminants and blood meal from ruminants.
Key players in the blood meal market are Darling Ingredients Inc., West Coast Reduction Ltd., Terramar Chile SpA, Valley Proteins Inc., Allanasons Pvt. Ltd., Ridley Corporation Limited, The Boyer Valley Company, APC Inc., FASA Group, Spelsa Guadalajara SA de CV, and Sanimax.
Segmentation of Blood Meal Industry Research:
- By Source :
- Poultry Blood
- Porcine Blood
- Ruminant Blood
- By Process :
- Solar Drying
- Drum Drying
- Spray Drying
- Ring & Flash Drying
- By Application :
- Poultry Feed
- Aqua Feed
- Porcine Feed
- Natural Pest Deterrents
- Ruminant Feed
- Organic Fertilizers
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
For in-depth competitive analysis, Buy Now:
https://www.factmr.com/checkout/4205
Questionnaire answered in the Market outlook Report of Blood Meal include:
- What is the key strategy deployed by large players to maximize Blood Meal Market growth?
- What are the main challenges faced by players in the Blood Meal market Demand?
- With the advent of technological advancement, how will the Blood Meal market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Blood Meal market size?
Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: [email protected]