Blood Meal Market is expected to cross USD 2.1 Billion by 2025 at a CAGR of 3.0% during the forecast period of 2019 to 2025. In the current market scenario, blood meal is sourced from the blood of animals such as cattle or hogs from slaughterhouses. The demand for animal-based products remains high in emerging economies, resulting in the large-scale slaughter of animals. Thus, a large amount of blood is released from animals, creating opportunities for blood meal manufacturers. In addition, blood meal acts as a high source of protein and is, thus, mainly used as a dietary supplement for cattle, fish, and poultry.
The Global Blood Meal Market Trends is growing at a moderate pace. Blood meal is a valuable protein source and is, therefore, used in animal feed. It is a dry, inert powder made from the blood collected during the slaughter of livestock. Of all the animal waste from slaughterhouses, blood is the highest pollutant.
- Darling Ingredients Inc. (US)
- Terramar Chile SpA. (Chile)
- West Coast Reduction Ltd. (Canada)
- Valley Proteins Inc. (US)
- Ridley Corporation Limited (Australia)
- Allanasons Pvt Ltd (India)
- The Boyer Valley Company (US)
- FASA Group (Brazil)
- Sanimax (US)
- APC, Inc. (US)
- Apelsa Guadalajara SA de CV (Mexico)
- Agro-industrial Complex Bačka Topola LTD (Serbia)
Growth Opportunities in the Market
Rising demand for organic fertilizers: The adoption of organic farming practices is increasing around the world due to rising awareness among consumers about the harmful effects of chemicals in the form of fertilizers used in conventional farming. Additionally, farmers are looking for new products and methods to increase yield during organic cultivation. The nitrogen, phosphorus, and potassium (NPK) index of blood meal is N=13.25%, P=1.0%, and K=0.6%, making blood meal one of the highest non-synthetic sources of nitrogen. The use of blood meal is permitted in certified organic production as a soil amendment. Blood meal is also used as a composting activator.
Growth of e-commerce platforms: While store-based distribution channels dominated the market for blood meal in 2018, the growth of e-commerce platforms is expected to result in the non-store-based distribution channel segment registering the higher CAGR. This growth can be attributed to the convenience and delivery offered by e-commerce platforms. Manufacturers of blood meal have adopted this sales channel by offering their products through their websites and established e-commerce portals.
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North America: In 2018, North America held the largest regional market share due to the presence of an established animal feed industry and the increasing consumption of meat products, including meat, eggs, and milk.
Asia-Pacific: Rising awareness regarding the benefits of blood meal and increased availability of the products are expected to result in the regional market registering the highest CAGR during the forecast period of 2019 to 2024.
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