Plasma Feed Market

Global Plasma Feed Market Size (2024 to 2032)

The global plasma feed market was valued at USD 2.92 billion in 2023 and is anticipated to reach USD 3.10 billion in 2024 from USD 4.99 billion by 2032, growing at a CAGR of 6.14% from 2024 to 2032.

Plasma feed consists of the feed products that constitute animal-derived plasma proteins as the feed ingredient. The market for plasma feed has been expanding globally due to the increase in demand for alternative protein sources in the feed industry. The market for plasma feed is consolidated in nature as the significant share is occupied by a few players at the global level.  

The global plasma feed market is expected to be promising for the vendors active in the industry due to the surge in plasma feed-in aquafeed consumption and the aquaculture industry growth. Also, increasing initiatives by various government and non-government organizations to promote the animal feed industry for the betterment of livestock is expected to globally create lucrative opportunities.

Market Drivers

The primary factors propelling the plasma feed industry forward are the rising demand for high-quality pet food and the need to adopt sustainable food production methods. The increased plasma feed popularity in pet food results from people's tendency to treat animals like family members, generating a strong demand for good quality pet food. In the pet food sector, the shift towards the use of natural and bioactive products is prevalent. This is because of the expansion of the pet population and clients' attitudes towards their pets as companions or family. Plasma protein is considered a natural and sustainable source of pet food. Besides, it provides several benefits during the production process due to its water-binding ability, emulsifying characteristics, and palatability, which drive the demand for plasma feed among manufacturers, thus helping the industry grow further.

Market Restraints

Uncertainty in accepting blood-based products for livestock feed and stringent global regulatory framework for animal-based protein in ruminant feed is projected to hamper the global plasma feed market's growth.

Impact of COVID-19 on the Plasma Feed Market

The outbreak of the Coronavirus pandemic is expected to substantially impact the global plasma feed market's overall growth in 2020. During the COVID-19 situation, the need for effective sterilization and disinfection has witnessed tremendous growth. This factor is supposed to bolster the plasma's growth feed market amid the ongoing pandemic. Also, with the rising call for hygiene and tests from players in the food & beverages industry, the plasma feed market is likely to extend in the following years.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Plasma Feed Market Based On The Source

The global plasma feed market has been segmented into bovine, porcine, etc. The porcine segment accounted for the largest revenue share of the market and is estimated to register the highest growth rate in the outlook period. The expansion of the segment can be associated with several health benefits offered by the porcine plasma feed. The large-scale slaughter of pigs for their meat helps collect their blood in large volumes, which, in turn, propels the segment's growth.

Global Plasma Feed Market Based On Application

The global plasma feed market is separated into pet food, aquafeed, swine feed, and others. The pet food segment is projected to dominate the market during the conjecture period, as plasma feed efficiently fulfills protein requirements in pets. Plasma feed is a natural, sustainable, and efficient source of nutrition for pets. Nonetheless, the aquafeed segment is projected to grow at the highest CAGR during the forecast period because of the increasing demand for aquafeed and the expansion of the aquaculture industry.

Global Plasma Feed Market By Region

The Asia Pacific plasma feed market is estimated to value the largest share between 2021 and 2026 and will record the highest CAGR during the same period. The steadily developing economy has been propelling the global meat food market in the area, which has, in turn, been driving the plasma feed market as well. As per the Food and Agriculture Organization (FAO), livestock product demand has expanded in this region in recent years. For example, meat consumption has grown at a rate of 5% and dairy products at a rate of 3.5-4% per year. The rising demand for pork in the region and the rise in beef consumption in China is expected to increase the number of slaughters, eventually improving the market supply need for plasma feed manufacturers.

The United States and Mexico are the major markets that account for nearly 88% of the North American plasma feed market. Beef, poultry, and veal are the most popular meat in North America. In terms of value, North America accounts for 28% of the global market. The United States is a well-established and mature market with a strong demand for organic meat, which has compelled farmers to use natural ingredients. 

In 2017, the U.S. Food and Drug Administration prohibited the use of antibiotics as a feed supplement. Because of this ban, growth promoters are not expected to be available in the country. During this scenario, plasma feed protein sources can be used as a supplement for antibiotics. Stringent approval systems in place by the U.S. government on certain feed additives make it difficult to manufacture and market new products, thereby fueling the need for alternatives and boosting the demand for plasma feed ingredients.

KEY MARKET PLAYERS

Some of the prominent players operating in the global plasma feed market are Darling Ingredients Inc. (U.S.), The Lauridsen Group Inc. (U.S.), SARIA Group (Germany), Sera Scandia (Denmark), Lican Food (Chile), Puretein Agri LLC (U.S.), Veos Group (Belgium), Kraeber & Co Gmbh (Germany), Rocky Mountain Biologicals (U.S.), Lihme Protein Solutions (Denmark), EcooFeed LLC (U.S.), and FeedWorks (Australia).

RECENT DEVELOPMENTS IN THE GLOBAL MARKET

In January 2020, Darling Ingredients bought out Intrexon by acquiring the remaining 50% stake in EnviroFlight, a producer of non-pathogenic black soldier fly larvae at scale. EnviroFlight concentrates on enhancing the global food supply chain to meet the increase in demand among the population.

In January 2020, Nutreco announced the investment in Kingfish Zeeland, a Netherlands-based company that supplies yellowtail kingfish to Europe and the U.S. through a proprietary recirculating aquaculture system (RAS). This investment is likely to boost Nutreco's U.S. and European supplies of yellowtail kingfish.

In June 2018, Essentia completed the purchase of Scanflavour A/S, a protein manufacturing company based in Denmark. This acquisition helped the company grow its position as one of the leading global animal-based protein ingredients manufacturers. Essentia Protein Solutions belongs to The Lauridsen Group, Inc.

DETAILED SEGMENTATION OF THR GLOBAL PLASMA FEED MARKET INCLUDED IN THIS REPORT

This research report on the global plasma feed market is segmented and sub-segmented into the following categories.

By Source

• Bovine
• Porcine
• Etc

By Application

• Pet food
• Aqua feed
• Swine feed

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa