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Plasma Powder Market Revenue Report with Forecast to 2034
The global plasma powder market is estimated to reach over USD 4.78 Billion by 2034, exhibiting a CAGR of 5.1% during the forecast period.
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Plasma powder is a highly appealing protein concentrate used to enhance the nutritional content of pet food formulations. It is a high-quality protein-based binder that promotes good nutrition while improving palatability. This is an excellent source of essential amino acids compared to other protein sources. The increasing emphasis of leading firms on creating safe and nutritious animal feed is a critical driver driving the market. Limiting antibiotic use and increased consumer concerns about maintaining general health are projected to fuel growth. Plasma powder can improve gut health and feed palatability.
The use of spray-dried plasma powder as an in-feed alternative to zinc oxide and preventive antibiotics is expected to increase. The introduction of innovative plasma-derived therapies is moving the pharmaceutical industry forward. Furthermore, the increasing prevalence of genetic disorders will likely motivate healthcare providers to adopt plasma-derived drugs for treatment. The increased popularity of pets and the surge in demand for new ingredients from pet producers raise concerns about pet health. The ingredient variables are the primary concern in boosting pet food palatability, particularly for cats.
List of Prominent Players in the Plasma Powder Market:
Veos Group
APC Inc
ACTIPRO
Lican food
Merck KGaA
Darling Ingredients
Rock Mountain Biologicals
SARIA Group
Market Dynamics:
Drivers-
The development of novel plasma-derived medicines is propelling the pharmaceutical industry forward. Limiting antibiotic use and growing consumer awareness about overall health are expected to drive development. Plasma powder has the potential to improve intestinal health and feed palatability. Spray-dried plasma powder will likely become more popular as an in-feed alternative to zinc oxide and preventative antibiotics. Furthermore, the rising prevalence of genetic illnesses will likely push healthcare practitioners to use plasma-derived medications for treatment.
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Challenges:
The acceptability of blood-based products for livestock feed will be hampered by a lack of public awareness and costly commercial investment in refining technologies. Another issue impeding market expansion is the rising cost of raw materials necessary for the final product. The industry has several market growth challenges, including a demanding worldwide regulatory framework for animal-based protein in ruminant feed and low-standard livestock production practices. These can lead to disease outbreaks and significantly impact plasma manufacture. These are some significant problems the market is projected to face.
Regional Trends:
The North American plasma powder market is anticipated to register the highest share in the market. Because of the country's vast number of pet owners, the United States is likely to dominate the plasma powder industry in this region. In addition, there is a growing trend among livestock farmers to search out innovative alternatives to antimicrobial growth promoters (AGPs), enhancing growth. Growing customer demand for high-nutritional-value pet food should drive corporate growth.
Besides, Asia Pacific had a substantial share in the plasma powder market. Asia-rising Pacific's demand for livestock and dairy products has boosted the global plasma powder industry. Pet adoptions are increasing, and there is a growing concern for pet health. Thus, there is a strong need for pet feed with high nutritional content. Pet food sales are continuously expanding, which has aided in business success.
Recent Developments:
• In May 2021, The Rousse lot brand of Darling Ingredients announced the opening of a new Brazilian innovation lab. The revamped lab will serve the pharmaceutical, nutrition, and food businesses in their quest for the best product application. The company intends to use its new plant to expand its global lab network to give formulations for innovation, application, and expertise.
• In September 2021, Cargill announced a cooperation with a Dutch animal feed manufacturer for a new animal nutrition production plant in the Netherlands. By combining Cargill's global knowledge of animal nutrition with better manufacturing capabilities. The company's position in the plasma powder market will be strengthened due to this strategy.
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Segmentation of Plasma Powder Market-
By Source
• Bovine
• Porcine
• Others
By Application
• Food
• Animal feed
o Poultry feed
o Swine
o Aquafeed
o Pet food
o Ruminant feed
o Others
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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