Blood Meal Market Report - Market Size, Share, Price, Trend and Forecast 2027

The blood meal market was valued at US$ 1,825.9 million in 2018 and is expected to reach US$ 2,451.6 million by 2027; it is projected to grow at a CAGR of 3.4% from 2019 to 2027.

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Blood meal is dried form of animal blood collected from slaughtering of several livestock species such as cattle, pigs, and chickens under specific conditions. It is considered as rich source of proteins, and iron and nitrogen, and is used to supplement feed diets based on cereal grains, plant remains, and forages. Blood meal serves an advantage over plant-based protein and other feed ingredients owing to their rich nutritional profile and cost-effectiveness. Apart from their use in the feed industry, blood meal also finds application as natural and organic fertilizers. Therefore, the surge in demand for healthy feed products, coupled with increased focus on environmental sustainability and crop protection, is likely to drive the market for blood meal during the forecast period.

Top Companies:- Allanasons Pvt Ltd, APC Company, Inc., Apelsa Guadalajara, SA de CV, DAR PRO Ingredients, Ridley Corporation Limited, Sanimax, TerramarChile, The Boyer Valley Company, Inc., Valley Proteins, Inc., FASA Group

The blood meal market in North America is expected to grow at the highest CAGR of 4.1% during the forecast period owing to the rising applications in animal feed industries, such as poultry feed, ruminant feed, and aqua feed as well as in agricultural industry. Blood meal is manufactured from clean fresh animal blood that does not include extraneous materials such as hair and stomach contents. Such meal can be dried with the help of several processes, and spray-drying is among the more commonly used methods. Blood meal is known for its nutritional profile and is a rich source of protein as well as nitrogen. The rise in competition in the feed industry, along with high cost of conventional feed ingredients, is motivating the feed producers to procure less costly feed ingredients, such as blood meals. The growth of feed and agricultural sector in North America is expected to fuel the demand for blood meal in the region.

The recent COVID-19outbreak began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across all regions in the world. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-hit countries in terms confirmed cases and reported deaths. The outbreak has been affecting economies in various countries due to lockdowns, travel bans, and business shutdowns called as protective measures to stop the spread of COVID-19. Food processing industry is one of the major industries in the world that are suffering serious factory shutdown, supply chain disruptions, technology events cancellations, and office shutdowns as a result of this outbreak.

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Mergers and acquisitions, and research and development are the commonly adopted strategies by companies to expand their footprints worldwide, which is further impacting the size of the market. The players present in the blood meal market such Ridley Corporation Limited have been implementing the abovementioned strategies to expand their customer base and gain significant share in the global market, which also enables them to maintain their brand name globally.

Reason to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Blood Meal market
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Blood Meal market, thereby allowing players to develop effective long term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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This release was published on openPR.