NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The global blood meal market is expected to witness a CAGR of 2.84% to reach USD 1,950 million by 2025. Increasing demand from APAC region is expected to drive the market growth over the forecast period. Moreover, the increasing use of blood meal as a fertilizer offers a business opportunity for new entrants in the market.
Economic growth trends in developing countries have led to rising incomes and are contributing to dietary change of the demographic. This has given impetus to the meat production market of this region, in turn propelling the market for a blood meal. An opportunity lies in blood meal production in APAC, as it caters to the largest market and is likely to dominate the market over the forecast period.
Key findings from the report:
- The global blood meal market is expected to witness a CAGR of 2.84% to reach USD 1.950 million by 2025.
- By source, poultry blood segment is expected to be the fastest growing market over the forecast period.
- By application, poultry feed segment is anticipated to register the fastest CAGR over the forecast period.
- Asia-Pacific held the major share of the market in the year 2018 and the trend is likely to continue during 2019 to 2025.
- Some of the key companies operating in the market includes Pure Top International Group Co., Limited, Kleingarn Agrarprodukte GmbH, The Midfield Group, Darling Ingredients, Terramar, Allanasons Pvt Ltd, APC, Inc., The Boyer Valley Company, West Coast Reduction Ltd., and Ridley Corporation Limited among others.
Poultry Blood Segment: the fastest CAGR from 2015 to 2018
Poultry blood segment held the fastest CAGR from 2015 to 2018 and the trend is likely to continue over the forecast period. Global production of poultry meat has increased rapidly over the last decade, led by the USA, followed by China and Brazil. Remnant blood from the poultry slaughterhouse is used by manufacturers to produce blood meals, giving impetus to the market. The market for poultry farming is rapidly increasing, so the trend of poultry segment is likely to continue over the forecast period.
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Blood Meal - Regional insight
Asia-Pacific is expected to hold the largest share of the market over the forecast period. This is attributed to APAC’s largest share of the global animal feed market catering to the huge animal industry of this region. Furthermore, the rise in per capita income of the target demographic of this region is anticipated to drive the market growth in the coming years. Additionally, high production of blood meal products owing to increasing consumption of red and processed meat products in this region is expected to propel the market growth over the forecast period.
The report segments blood meal market based on drying process, source, application, and region.
By Drying Process
- Solar and Oven Drying
- Drum Drying
- Ring and Flash Drying
- Spray Drying
By Source
- Ruminant Blood
- Poultry Blood
- Porcine Blood
By Application
- Aqua Feed
- Ruminant Feed
- Poultry Feed
- Porcine Feed
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Central & South America
- Middle East & Africa
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