Market Overview
The Blood Meal Market is expected to reach USD 2.53 Billion by the end of the forecast period at a CAGR of 3.50% during the forecast period.
The global blood meal market is expanding at a reasonable rate. Because blood meal is a valuable protein source, it is used in animal feed. It is a dry, inert powder formed from the blood of animals killed during slaughter. Blood is the most polluting of all the animal waste from slaughterhouses. However, because blood contains roughly 18% protein, efforts have been undertaken to guarantee that animal blood is properly utilized on a broad scale to take advantage of the rich protein content while also reducing pollution from animal slaughter. When compared to other food proteins like bone meal and meat meal, the amino acid profile of blood meal protein is similar to the optimal protein ratio since the lysine level is very high. As a result, blood meal is utilized as an alternate protein source in the diets of dairy cattle, beef cattle, sheep, pigs, poultry, and other animals that require a lot of protein. The effective use of such by-products has a direct impact on the economy and pollution levels. Blood meal demand in the animal feed sector is predicted to increase as a result of these causes. Animal proteins are not allowed in ruminant feed due to strict rules. Because blood meal contains large concentrations of nitrogen, phosphate, and potassium, it can be utilized as a high-nitrogen organic fertilizer, causing fertilizer makers to be in high demand.
Regional Classification
Because of the presence of an established animal feed sector and the rising consumption of meat products such as meat, eggs, and milk, North America maintained the biggest regional market share. The Blood Meal Market Insights of the Asia-Pacific region during the forecast period is considered the regional market and is predicted to grow at the fastest rate due to growing awareness of the benefits of blood meal and improved product availability.
Market Segmentation
Based on the Process, the market is segmented into Solar Drying, Drum Drying, Ring Flash Drying, and Spray Drying.
Based on the Application, the Blood Meal Market Insights are segmented into Animal Feed and Fertilizers.
Based on the Source, the Blood Meal Market Outlook is segmented into Poultry Blood, Porcine Blood, and Ruminant Blood.
Based on the market region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Industry News
The major key players in the market are Darling Ingredients Inc. (US), Terramar Chile SpA. (Chile), West Coast Reduction Ltd. (Canada), Valley Proteins Inc. (US), Ridley Corporation Limited (Australia), Allanasons Pvt Ltd (India), The Boyer Valley Company (US), FASA Group (Brazil), Sanimax (US), APC, Inc. (the US), Apelsa Guadalajara SA de CV (Mexico), Agro-industrial Complex Bačka Topola LTD (Serbia), and The Jobe's Company (US). Due to a large number of active buyers and sellers, it is a perfect competition market. Several regional and local firms dominate the market, as seen by their well-known brands. Product development is a priority for market participants, who are spending on RD and forming strategic alliances with distributors to improve and expand their distribution networks.
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