Yahoo Finance Global Blood Meal Market Size To Worth USD 2.93 Billion By 2033 | CAGR of 3.24%
The Global Blood Meal Market Size was Valued at USD 2.13 Billion in 2023 and the Worldwide Blood Meal Market Size is Expected to Reach USD 2.93 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Darling Ingredients Inc., Terramar, West Coast Reduction Ltd, Valley Proteins, Inc, Allana Group, Boyer Valley, FASA Group, Sanimax, BVC Ingredients, NexGen Bioproducts, Moy Park, GNT Group, Bio-Nutrition, Gea Farm Technologies and other key vendors
New York, United States , June 26, 2024 (GLOBE NEWSWIRE) -- The Global Blood Meal Market Size is to Grow from USD 2.13 Billion in 2023 to USD 2.93 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.24% during the projected period.
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Dried animal blood that has been recovered after the animals have been slaughtered is used to make blood meals. Numerous nutrients, including potassium, phosphorus, and nitrogen, are present in it. In addition to the cattle sector, blood meal is also utilized as a soil nitrogen amendment in gardening. Nitrogen is an essential component for plant growth that gives plants the energy they need to develop and produce fruits and vegetables. Thus, adding blood meal to the soil will help to increase its nitrogen content, which will enhance plant productivity. One major element driving the global blood meal market is the increasing awareness of the nutritional benefits of blood meals. There is growing recognition of the role that nutrition plays in maintaining the health and production of animals. Pet owners and cattle both are realizing how important it is to offer animals a healthy, well-balanced diet. A blood meal is becoming more and more well-liked as a feed element since it may meet the nutritional needs of a wide range of animals. It is high in protein and nutrients. One important market element driving the global blood meal market is the growth of the pet food industry.
Browse key industry insights spread across 199 pages with 110 Market data tables and figures & charts from the report on the "Global Blood Meal Market Size, Share, and COVID-19 Impact Analysis, By Source (Porcine Blood, Poultry Blood, and Ruminant Blood), By Application (Poultry Feed, Porcine Feed, Ruminant Feed, and Aquafeed), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The poultry blood segment is anticipated to hold the largest share of the global blood meal market during the projected timeframe.
Based on the source, the blood meal market is divided into porcine blood, poultry blood, and ruminant blood. Among these, the poultry blood segment is anticipated to hold the largest share of the global blood meal market during the projected timeframe. Blood from poultry can be readily acquired from slaughterhouses and does not need to be processed as much as blood from swine or ruminants.
The poultry feed segment is anticipated to dominate the blood meal market during the projected timeframe.
Based on the application, the blood meal market is divided into poultry feed, porcine feed, ruminant feed, and aquafeed. Among these, the poultry feed segment is anticipated to dominate the global blood meal market during the projected timeframe. A reliable and affordable source of protein is needed for chicken feed formulae, and blood meal made from poultry processing wastes perfectly satisfies this need.
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North America is expected to dominate the global blood meal market over the forecast period.
North America is expected to dominate the blood meal market over the forecast period. The increased use of blood meal is being driven by the region's expanding cattle and poultry industries as well as the growing need for high-protein animal feed. A blood meal is becoming more and more popular as an organic fertilizer due to strict laws supporting sustainable farming practices and a focus on organic farming. The efficient utilization of meat processing industry byproducts, especially in the US and Canada, has increased the availability and affordability of blood meal in North America. North America holds a prominent position in the expansion of the blood meal market, owing to its advanced and sustainable agricultural techniques and well-established agriculture sector. These factors have played a major role in the industry's advancement.
Asia Pacific is predicted to grow at the fastest pace in the Blood meal during the projected timeframe. The Asia-Pacific region, comprising Japan, Australia, China, and India, has become a significant blood meal market. Due to the area's increased adoption of sustainable agricultural practices, the livestock and meat processing industries are expanding quickly, and this presents a substantial growth opportunity for industry players. The rising demand for meat products in the Asia Pacific area due to population growth is driving the market for blood meal. Blood meal is a byproduct that is produced in greater quantities as the meat industry expands. Furthermore, the demand for blood meal as a nutrient-rich soil amendment has increased due to the region's focus on boosting agricultural output and growing awareness of the advantages of organic fertilizers.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Blood meal include Darling Ingredients Inc., Terramar, West Coast Reduction Ltd, Valley Proteins, Inc, Allana Group, Boyer Valley, FASA Group, Sanimax, BVC Ingredients, NexGen Bioproducts, Moy Park, GNT Group, Bio-Nutrition, and Gea Farm Technologies and Others.
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Recent Developments
In August 2023, an innovative blood meal processing method was unveiled by NexGen Bioproducts that uses less energy and produces higher-quality results.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Blood Meal Market based on the below-mentioned segments:
Global Blood Meal Market, By Source
Porcine Blood
Poultry Blood
Ruminant Blood
Global Blood Meal Market, By Application
Poultry Feed
Porcine Feed
Ruminant Feed
Aquafeed
Global Precision Swine Farming, By Regional
North America
US
Canada
Mexico
Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa
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