Plasma Feed Market is projected to expand at a high CAGR from 2020 to 2030
According to the report, the global plasma feed market was valued at US$ 2.4 Bn in 2019 and is projected to expand at a high CAGR from 2020 to 2030. Plasma feed can be defined as feed products, which involve animal-derived plasma proteins and plasma as feed ingredients. Plasma, as an animal feed ingredient, is easily digestible and offers high quality protein. It primarily contains essential plasma proteins, including globulins and albumin. In terms of revenue, Asia Pacific was the major market for plasma feed in 2019. Strong growth of the plasma feed market in the region can be ascribed to significant production capacity of spray dried porcine plasma in China, which is the major producer and consumer of plasma feed.
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Strategic Acquisitions among Key Market Players
Leading players, such as Darling Ingredients and Daka Denmark, focus on enhancing market presence by adopting inorganic growth strategies. This, in turn, enables them to cater to the rising demand and consolidate their position in the global plasma feed market. In January 2020, Darling Ingredients bought Intrexon by acquiring the remaining 50% stake in EnviroFlight, a producer of non-pathogenic black soldier fly larvae at scale. EnviroFlight focuses on enhancing the global food supply chain to meet the demand among the growing population. In 2018, Darling Ingredients, Inc. acquired all the assets of Triple -T Foods Arkansas, Inc., including a wet pet food ingredient operation in Springdale, AR, along with a cold storage operation in Rogers, AR. This acquisition enabled the company to enhance its presence in the pet food industry.
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Swine to be Major Source
In terms of source, the swine segment is projected to account for a major share of the global plasma feed market during the forecast period. The growth of the segment can be attributed to swine plasma being considered effective protein source, which aids in enhancing the growth rate and feed intake, especially during the post-weaning phase. Natural IgG from swine plasma is used as feed supplements in modern swine production, owing to its ability to control post-weaning diarrhea (PWD) and reduce the usage of antibiotics in animal feed.
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Plasma Feed Market: Prominent Regions
The global plasma feed market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global plasma feed market in 2019. China was a major market for plasma feed in the region in 2019. The plasma feed market in the country is expected to be driven by rise in use of blood plasma products in food and pet food industries, rapid development in blood collection technologies, and increase in number of vendors focusing on improving distribution network. It is a major producer and consumer of plasma feed.
The plasma feed market in Asia Pacific is likely to expand at a high CAGR from 2020 to 2030 driven by developing countries such as China and India. Rise in consumption of animal-based products in emerging countries, increase in urbanization, and expansion of the animal feed industry are projected to drive the plasma feed market in the region. Additionally, surge in capacity of existing animal feed producers and focus on ensuring quality feed in adequate quantity boost the growth of the plasma feed market in Asia Pacific. According to Feed International’s World’s Top Feed Companies report, Asia Pacific accounted for 37% of the world’s compound feed production. Moreover, Asia’s top five aqua feed producing countries accounted for 65% of the total feed production volume in Asia.
Focus on Strategic Acquisitions and Partnerships by Key Players to Propel Global Market
The global plasma feed market is fragmented in terms of number of players. Key players operating in the global plasma feed market are Daka Denmark A/S (SARIA Group), Lauridsen Group, Inc., Sera Scandia A/S., Nutreco (SHV Holdings N.V.), Puretein Agri LLC, Kraeber & Co GmbH, Rocky Mountain Biologicals, Darling Ingredients, Inc., VEOS Group, Lihme Protein Solutions, EccoFeed LLC, and Feedworks Pty Ltd.
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