Blood Meal Market Trends and Key Insights 2024

"The Business Research Company recently released a comprehensive report on the Global Blood Meal Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The blood meal market size has grown steadily in recent years. It will grow from $1.98 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to animal feed industry growth, meat and poultry production expansion, effective nutrient source, waste utilization in abattoirs, organic fertilizer production.

The blood meal market size is expected to see steady growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to growing aquaculture industry, expansion of insect farming, global population growth, application in biomedical research, market expansion for organic products. Major trends in the forecast period include technological advancements in processing, research and development in animal nutrition, research in blood meal-based biostimulants, organic and non-gmo trends, development of hydrolyzed blood meal.

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Market Drivers and Trends:

The growing demand for animal meat is expected to boost the growth of the blood meal market going forward. Animal meat refers to the flesh or other edible parts of domesticated or edible animals, such as cattle, swine, sheep, fish, and birds, that are used for food. A blood meal is a by-product of animal slaughter that is used as a dietar*y supplemen*t for livestock such as cattle, fish, and poultry, which is high in protein and contains low levels of phosphorus and potassium used as a feed additive for animals. For instance, according to the Agricultural Outlook 2022-2031 report published by OECD-FAO, an Italy-based organization that provides consensus assessments for agriculture and fish markets, global apparent edible fish consumption is expected to reach 21.4 kilograms per capita in 2031, up from 20.5 kilograms in the baseline period (average 2019-2021). Furthermore, poultry meat consumption is expected to rise to 154 metric tons globally throughout the forecast period, accounting for roughly half of the increased meat consumed. Therefore, the growing demand for animal meat is driving the growth of the blood meal market.

Major companies operating in the blood meal market are developing new pilot spray dryers to gain a competitive edge in the market. Pilot spray dryers are scaled-down versions of industrial spray dryers used for the production of powdered or granulated materials from liquid or slurry feedstocks. For instance, in April 2023, RELCO LLC, a US-based food processing equipment company, launched the Parvus pilot spray dryer, designed for various food applications. The system is available in two models: Parvus Nomad, a single-stage dryer for trial batches and smaller production volumes, and Parvus Multi-Stage, featuring a wide-body design for larger production volumes. The pilot spray dryer offers flexibility for initial testing and scalability, enabling integration with other pilot technology for full-scale planning. It provides moisture control and powder manipulation capabilities similar to full-scale systems but caters to small-scale and trial needs. The system is designed for easy setup and takedown, and its compact size accommodates space constraints and shipping considerations. The pilot spray dryer addresses emerging opportunities in markets like plant protein, fermentation, and collagen.

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Major Key Players of the Market:

Boyer Valley Company LLC; Terramar Chile SpA; Darling Ingredients Inc.; West Coast Reduction Ltd.; Valley Proteins Inc.; Sanimax APC Inc.; The Fertrell Company; Ridley Corporation Limited; Allanasons Pvt. Ltd.; FASA Group; The Boyer Valley Company; Apelsa Guadalajara S.A. de C.V.; Bar-Magen Ltd.; Agro-industrial Complex Backa Topola Ltd.; APC Company Inc.; Frigorifico Allana Private Limited; Agridient Inc.; Archer Daniels Midland Company; Ag Processing Inc.; Cargill Incorporated; Coppens International B.V.; Dinnissen Process Technology B.V.; Duynie Group B.V.; Fambrosa S.A.U.; ForFarmers N.V.; InVivo NSA; The J.M. Smucker Company; Land O'Lakes Inc.; Nutreco Co. B.V.; OJ Ingredients Ltd.; Olmix Group

Blood Meal Market 2024 Key Insights:

• The blood meal market size will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%.
• Surging Demand For Animal Meat To Drive Market Growth
• Roles, Importance, And Agricultural Applications In The Blood Meal Market
• North America was the largest region in the blood meal market in 2023

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