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Plasma Feed Market Report 2024 - Plasma Feed Market Trends, Demand, And Opportunities
Plasma Feed Market
According to The Business Research Company's, The plasma feed market size has grown strongly in recent years. It will grow from $2.41 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased demand for animal protein, efforts to improve feed efficiency, nutrient-rich composition of plasma, concerns about animal health and immunity, regulatory approvals and compliance.
The plasma feed market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to focus on gut health in animals, research in plasma protein functionality, expansion of premium pet food market, consumer demand for ethical sourcing, globalization of animal feed trade. Major trends in the forecast period include customization for different animal species, technological innovations in feed additives, collaborations in feed industry, digitalization in animal agriculture, traceability and quality assurance.
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Market Drivers and Trends:
The growing demand for high-quality pet food is expected to boost the growth of the plasma feed market going forward. High-quality pet food refers to food with good quality and nutrition. Plasma feed is a functional and nutritious ingredient in pet food used as a source of functional proteins, nucleotides, and antibodies that provide unique health benefits, as a result, the growing demand for high-quality pet food increases the demand for plasma feed market. For instance, in March 2023, according to the article released by the American Pet Products Association (APPA), a US-based non-profit trade organization that represents the pet products industry, pet food and treat sales in the United States accounted for $58.1 billion in 2022, increased by approximately 39% compared to $42 billion in 2020. Furthermore, in 2023, pet food and treats are projected to account for $62.7 billion in sales in the U.S. Therefore, the growing demand for high-quality pet food is propelling the growth of the plasma feed market.
Product innovation is a key trend gaining popularity in the plasma feed market. Major companies operating in plasma feed are strengthening their market position by discovering new and advanced feed products. For instance, in November 2021, APC Inc., a leading US-based company specializing in producing high-quality protein ingredients for animal nutrition and health, introduced three new hydrolyzed protein products named Pepteiva, Peptein, and Cravings. The newly launched products by APC Inc. are aimed at reducing drug intake and the environmental impact on livestock, fish, and other farms. These products, pepteiva, and peptein, are specifically designed for animal nutrition and welfare improvement. They are approved for feeding to all animal species, including ruminants.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Darling Ingredients Inc.; Kraeber & Co. GmbH; Lauridsen Group Inc.; Lican Food; Lihme Protein Solutions; Puretein Agri LLC; Rocky Mountain Biologicals; Veos Group; Eccofeed LLC; Feedworks Pty Ltd.; SARIA Group; Sera Scandia A/S; Daka Denmark AS; Nutreco NV; APC Inc.; Valley Proteins Inc.; FASA Group; Octapharma AG; Terumo BCT Inc.; Catalyst Pharmaceuticals Inc.; ImmunoGen Inc.; AdaptHealth Corporation; Johnson & Johnson; AstraZeneca plc; Amgen Inc.; Allergan plc; China Biologic Products Holdings Inc.; Grifols S.A; CSL Limited; The Lauridsen Group Inc.
Plasma Feed Market 2024 Key Insights:
• The plasma feed market will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Surge In High-Quality Pet Food Drives Growth In The Plasma Feed Market
• Innovation In The Plasma Feed Market
• Asia-Pacific was the largest region in the plasma feed market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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