Selbyville, Delaware , March 06, 2024 (GLOBE NEWSWIRE) -- Blood Meal Market size is projected to accrue USD 1.7 billion in revenue by 2032, as per a recent study by Global Market Insights Inc.
The expanding animal feed sector worldwide is fuelling the market growth. With increasing awareness about the nutritional benefits in animal diets, the usage of blood meal in feed formulations is on the rise. Rich in protein and essential nutrients, blood meal serves as a valuable supplement for livestock and poultry. For instance, in October 2023, it was reported that over the past decade, there was a significant expansion of nearly 50% in animal protein production used for feed in Russia. Furthermore, the growing awareness among livestock and poultry producers about the nutritional benefits of blood meal in animal diets will anchor the market development.
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Rising preference for porcine blood source
Blood meal market from the porcine blood segment may exhibit a decent growth rate over 2024-2032. Porcine blood, rich in protein and essential nutrients, serves as a valuable ingredient in animal feed formulations, particularly for monogastric animals like pigs. With the global rise in pork consumption and the increasing demand for high-quality feed ingredients, porcine blood-derived blood meal has also become an indispensable component for optimizing animal nutrition and enhancing productivity.
Growing incorporation in porcine feed
Blood meal market from the porcine feed segment will register a noteworthy CAGR from 2024 to 2032. Porcine feed formulations rely on blood meal as a crucial ingredient due to its rich protein content and nutrient profile. With the global pork industry expanding to meet the growing consumer demands, the need for high-quality feed ingredients is intensifying. Porcine-derived blood meal has also emerged as a valuable solution for enhancing the nutritional value of feed and supporting optimal growth and health in swine.
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Europe to witness higher utilisation
Europe blood meal market size will register a robust CAGR from 2024 to 2032. With the growing emphasis on sustainable agricultural practices and animal welfare, several European livestock producers are increasingly incorporating blood meal into feed formulations. The presence of stringent regulations is also favoring the use of blood meal due to its nutritional benefits and safety profile. Additionally, the rising demand for high-quality protein sources in animal diets will further drive the regional market growth.
Blood Meal Market Players
BVC Ingredients, NexGen Bioproducts, Moy Park, GNT Group, Bio-Nutrition, Darling Ingredients, Gea Farm Technologies, Schroeder Industries, Gowans, Hamlet Protein, Sanimax Group, Dinnissen BV, Grenada Beef, PBFS, and Barentz are some of the blood meal industry contenders. These companies are actively investing in R&D activities to tailor their products to meet the specific needs of the niche market. They are also focused on enhancing the nutritional value, quality, and sustainability of blood meal through innovative processing techniques and formulation methods. For instance, in June 2022, Darling Ingredients Inc., acquired Brazil's largest independent rendering firm FASA Group in a bid to expand its specialty ingredients business.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
