CHICAGO, July 16, 2019 /PRNewswire/ -- According to the new market research report "Plasma Feed Market by Source (Porcine, Bovine, and Others), Application (Swine Feed, Pet Food, Aquafeed, and Others (Includes Ruminant and Poultry Feed)), Region (North America, Europe, Asia Pacific, and Rest of the World) - Global Forecast to 2025", published by MarketsandMarkets™, the Plasma Feed Market is projected to reach USD 2.9 billion by 2025, from USD 2.1 billion in 2019, at a CAGR of 5.7% during the forecast period. The use of animal-derived plasma proteins as the replacement for antibiotics in feed drives the market for plasma feed.
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Growing demand for high-quality pet food is one of the major factors affecting the growth of the plasma feed market during the forecast period.
The trend for the use of natural and bioactive products is very prevalent in the pet food industry. This is attributed to factors such as the expansion of the pet population, and customer attitudes toward their pets as companions or family. Additives play a significant role in enhancing the quality of feed for pets. Keeping the concerns of pet owners in mind, many companies are coming up with the feed products made up of naturally sourced ingredients. The increase in demand for naturally sourced pet food has resulted in the inclusion of animal-based plasma proteins as one of the major ingredients in pet food.
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90 – Tables
26 – Figures
183 – Pages
By source, the porcine segment dominated the plasma feed market in 2018.
A large number of swine slaughtered has led to a steady supply of blood plasma for the plasma manufacturers, due to which porcine was the dominant segment for plasma feed in 2018. According to FAO 2019, the rise in overall meat demand resulted in a higher share of pigs slaughtered in the livestock agriculture industry. USDA ERS projected that US pork export would reach 6.7 billion pounds by 2020, almost 7% above than the estimation of 2019. This resulted in the development of plasma feed products sourced, majorly from porcine.
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The Asia Pacific is projected to dominate the plasma feed market by 2025.
The Asia Pacific accounted for the largest share in the global plasma feed market for in 2018, and the market is projected to grow at the highest CAGR during the forecast period. China is the major reason for the dominance of Asia Pacific in the global plasma feed market, wherein China is one of the largest consumers and producer of overall meat products. China accounted for the highest share in the number of pigs slaughtered in 2017, which makes it the dominant market for porcine-based plasma feed. The Asia Pacific region is projected to be the fastest-growing market for the period considered for this study. The region's growing concentration of animal slaughtering and increased demand for animal-based food products poses a strong potential for plasma feed manufacturers.
This report includes a study of the development strategies, along with the product portfolios of leading companies such as Darling Ingredients Inc. (US), The Lauridsen Group Inc. (US), SARIA Group (Germany), Sera Scandia (Denmark), Lican Food (Chile), Puretein Agri LLC. (US), Veos Group (Belgium), Kraeber & Co Gmbh (Germany), Rocky Mountain Biologicals (US), Lihme Protein Solutions (Denmark), EcooFeed LLC (US), and FeedWorks (Australia).
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