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Plasma Powder Market Trends, Top Companies, Share, Growth And Forecast 2033
Plasma Powder Market Trends
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According to The Business Research Company's, The plasma powder market size has grown strongly in recent years. It will grow from $2.9 billion in 2023 to $3.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to material science advancements, rise in surface modification techniques, demand for advanced coatings, semiconductor and electronics industry, medical and biomedical innovations.
The plasma powder market size is expected to see strong growth in the next few years. It will grow to $3.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to emerging nanotechnology integration, exploration in catalytic applications, integration in smart materials, adoption in 3d printing, demand in biomedical engineering. Major trends in the forecast period include plasma-polymer composite materials, hybrid additive manufacturing processes, customizable smart coatings, bioresorbable implants and coatings, plasma powder for 5g technologies.
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Market Drivers and Trends:
The increasing demand for high-quality protein feeds is expected to propel the growth of plasma powder going forward. An increase in demand refers to the increase in consumption of high-quality feed by pets and domestic livestock. Plasma powder plays the role of an essential ingredient in making the feed healthy and nutritious for the animals. For instance, in March 2021, according to the American Feed Industry Association, a US-based not-for-profit organization that represents the feed industry, it was estimated that by 2025, animal food consumption could increase by 2.5% to 254.6 million tons worth roughly $48.8 billion, above that of 2020, which was 248.4 million tons. Furthermore, it is estimated that feed consumption could reach 263.1 million tons by 2025. Therefore, the increasing demand for high-quality protein feeds is driving the growth of the plasma powder market.
Product innovation is a key trend gaining popularity in the plasma powder market. Companies involved in the plasma powder market are focused on launching new product lines to sustain their position in the market. For instance, in February 2023, Octapharma AG, a Switzerland-based pharmaceutical company, obtained European Union (EU) approval for its octaplasLG powder, a plasma powder, or a lyophilized (freeze-dried) form of their well-established plasma for transfusion. This line extension will be marketed in Europe as a powder and solvent solution for infusion. OctaplasLG powder is a pharmaceutical-grade human plasma product that offers standardized quality and exceptional pathogen safety profiles, achieved through Octapharma's integrated pathogen elimination and inactivation concept.
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Major Key Players of the Market:
Takeda, Merck KGaA, CSL Behring, Darling Ingredients, Grifols, Octapharma, Kemin Industries, Kedrion, Valley Proteins Inc., Proliant Biologicals, Lican Food, IQI Petfood, Veos Group, Uruguayan Animal Proteins, Haripro SpA, Lihme Protein Solutions, Proliant Biologicals, Saria SE & Co. KG, Acontex GmbH, APC Inc., British Aqua Feeds, Feed Stimulants, Otto Chemie Pvt Ltd, Shenzhen Taier Biotechnology Co. Ltd, Animix LLC, Kraeber & Co GmbH, Rocky Mountain Biologicals.
Plasma Powder Market 2024 Key Insights:
• The plasma powder market size is expected to see strong growth in the next few years. It will grow to $3.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Surging Demand For High-Quality Protein Feeds To Drive Market Growth
• Product Innovations Transforming The Plasma Powder Market
• North America was the largest region in the plasma powder market in 2023
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