The global blood meal market is estimated to be valued at USD 1.8 billion in 2019 and is projected to reach USD 2.1 billion by 2025, recording a CAGR of 3.0%
NEW YORK, May 8, 2019 /PRNewswire/ -- The blood meal market is projected to grow at a CAGR of 3.0% in terms of value.
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The global blood meal market is estimated to be valued at USD 1.8 billion in 2019 and is projected to reach USD 2.1 billion by 2025, recording a CAGR of 3.0%. The market is driven by factors such as an increase in the consumption of animal-based products, particularly in the emerging countries of the Asia Pacific and South America due to the increasing urbanization. China is projected to be a major revenue pocket in the blood meal market in the coming years, due to the large production and consumption of meat products. In addition, in North America, the US is projected to be a key growth market for blood meal due to the high consumption of livestock products such as meat, milk, and eggs in the country.
The poultry blood segment in blood meal market is estimated to account for the largest share in 2019.
Based on source, the poultry blood segment is estimated to account for the largest share in the blood meal market in 2019.Poultry blood is the most preferred raw material that is used to produce blood meal due to its high amino acid content, particularly Lysine.
Majority of the key players such as Darling Ingredients (US), Boyer Valley (US), Valley Proteins Inc. (US), TerraMar Ingredients LLC (Chile), and FASA Group (Brazil) offer blood meal products that are made of poultry blood.
The poultry feed segment in the blood meal market is estimated to account for the largest share in 2019.
Based on application, the poultry feed segment is estimated to account for the largest share in the blood meal market in 2019.The demand for poultry products is on the rise in developing countries of the Middle East & Africa as well as countries such as Brazil and China.
This has led to an increase in the number of slaughtering in the poultry industry generating blood, thus increasing the production for blood meal in the past few years.
The Asia Pacific blood meal market is projected to witness significant growth.
The Asia Pacific region is projected to be the fastest-growing market during the forecast period.The market in the region witnesses a significant growth due to the rapid growth in population, urbanization, and expansion of the middle-class population, with the increasing demand for animal food products.
The region consists of countries such as China and Vietnam, which are among the largest consumers of meat products such as pork. These factors are projected to increase the number of slaughters, thus creating opportunities for blood meal manufacturers.
Break-up of Primaries:
• By Company Type: Tier 1 – 45 %, Tier 2 – 33%, and Tier 3 – 22%
• By Designation: C-level – 33%, D-level – 45%, and Others* – 22%
• By Region: North America – 11%, Europe- 11%, Asia Pacific – 45%, and RoW*– 33%,
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America and the Middle East & Africa.
Leading players profiled in this report:
This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the blood meal market. It includes profiles of leading companies such as Darling Ingredients (US), Terramar (Chile), West Coast Reduction (Canada), Valley Proteins, Inc. (US), Ridley Corporation (Australia), Allanasons Private (India), The Boyer Valley Company (US), FASA Group (Brazil), Sanimax (Canada), APC, Inc. (US), and Apelsa Guadalajara (Mexico).
Research Coverage:
The report segments the blood meal market on the basis of source, application, and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global blood meal high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the blood meal market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the major countries/regions, in which blood meal is gaining popularity
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