Global Blood Meal Market Outlook
The continuous increase in population has led to a continuous increase in demand for food and beverage products. There is thus increase in demand for the various plant as well as animal-based products. The feed sector, as well as the fertilizer sector, thus have become important and hence there is an increasing demand for feed additives as well as fertilizers. A large number of animals are slaughtered every day and thus a huge amount of blood is obtained as a waste product. However, a very little part of that blood is utilized and the rest is wasted. Blood meal is the dry powder form of blood. Blood meal is considered as one of the rich sources of protein as well as nitrogen. Blood meal is thus used as the supplement in animal feed products as well as a fertilizer. Thus with the increasing demand for sustainable products like blood meal by animal feed as well as crop protection sector the global blood meal market is expected to increase over the forecast period.
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Global Blood Meal Market Dynamics
The growing demand for protein-rich feed additives is expected to increase the demand for products like blood meal. Growing population, increasing demand for animal-based products, as well as growing demand for natural and organic food products are some of the prime factors driving the global blood meal market. Blood is considered as liquid protein owing to its high concentration of protein and is rich in amino acids like lysine, and thus has an advantage over plant-based protein which has low lysine content. Blood meal is one of the highest non-synthetic sources of nitrogen and hence is used as a natural fertilizer. Blood meal being derived from animals, a natural source of high-quality protein as well as other nutrients is expected to gain traction owing to increasing demand for natural feed ingredients. The lack of awareness and unwillingness to accept a feed ingredient derived from blood are some of the factors hindering the growth of the blood meal market. However, with the increasing demand for protein-rich animal feed, demand for natural fertilizer with high nitrogen concentration, the demand for blood meal is expected to increase positively both in terms of volume and value over the forecast period.
Global Blood Meal Market Segmentation
On the basis of Source, the global blood meal market can be segmented as
- Ruminants
- Porcine
- Poultry
On the basis of Application, the global blood meal market can be segmented as
- Feed
- Ruminant Feed
- Porcine Feed
- Poultry Feed
- Aqua Feed
- Others
- Fertilizer
On the basis of Process, the global blood meal market can be segmented as
- Solar Drying
- Ring Drying
- Drum Drying
- Spray Drying
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Global Blood Meal Market: Key Players
- Darling Ingredients Inc.
- West Coast Reduction Ltd.
- Terramar
- Valley proteins Inc.
- Allana Group
- The Fertrell Company
- The Boyer Valley Company, Inc
- Agro-industrial Complex Baka Topola LTD
Opportunities for Market Participants
The global blood meal market is gaining traction and thus opening several opportunities for existing as well as emerging market players. With the increasing demand for animal meat as well as animal-based products, there is an increase in the slaughter of animal leading to the release of large amounts of blood opening various opportunities for manufacturers of the blood meal. The on-going ‘move to organic’ trend proves to be a positive factor for blood meal market. This opens several opportunities for manufacturers to invest in R&D and promote blood meal products as organic fertilizer. With the growing opportunities and increasing demand, the global blood meal market is expected to grow over the forecast period.