Plasma Feed Industry Size, Share, Growth, Trends and Forecast to 2027
Plasma Feed Industry has registered considerable growth over
the years due to augmenting interest of consumers in health of pet animals.
Addition of plasma proteins in animal feed has been found to be beneficial for
the healthy development of animals. With expanding consumption of animal
protein and increasing awareness about constituents of animal feed, addition of
enhanced nutrients in animal feed has become imperative, thus adding impetus to
Plasma Feed Industry.
Meat consumption across the globe has recorded considerable
increase in the past few decades as rise of middle class population in emerging
economies has shifted food preferences. This shifting trend of greater meat
consumption has been apparent in the expanding pork industry which has in turn
created greater opportunities for the Plasma Feed Industry.
For instance, with increased pork consumption over the last
few decades, concerns had been raised about the growth promoting and
therapeutic antibiotics in piglet feed due to their tendency of generating
antimicrobial resistance can be a risk to human lives when transferred through
consumption. The use of spray dried plasma instead of antibiotics considerably
reduces such risk and therefore has witnessed greater demand from Plasma Feed
Industry.
Recent studies in the U.S. have underlined the fact that the
food preference by the American population is also registering considerable
shift towards plant based protein consumption and while beef consumption is
registering a downward trend, chicken consumption is rising. Spray dried plasma
in pre-starter diets has been found to be beneficial for the gut health of
young poultry.
Spray dried plasma feed has also proved to be beneficial for
early lactation dairy cows. A recent study by a team of international
researchers demonstrated that addition of spray dried plasma feed in diets of
dairy cows improved milk yield and milk fat content.
Another prominent trend that has aided the growth of the Plasma
Feed Industry is the millennial preference of adopting companion animals
like cats and dogs. With substantial disposable incomes and fewer
responsibilities due to postponement of other more expensive and traditional
life goals, millennials are found to be spending more to ensure the well-being
of their pets. Spray dried plasma, which is rich in protein has found favorable
application in pet foods especially cat food due to preference showed by cats
and the physiochemical benefits spray dried plasma imparts to cat food. Due to
increasing demand, global Plasma Feed Industry is anticipated to register a
CAGR of 5.5% over 2019-2024 with market valuation surpassing USD 2.6 billion by
2024.
Segmentation:
Plasma Feed Industry is segmented on the basis of source and
application.
Based on source, Plasma Feed Industry is further subdivided
in to porcine, bovine and other sources. In 2018, porcine derived plasma feed
dominated the market shares and is expected to register a considerable CAGR
over the forecast period.
Based on application Plasma Feed Industry is subdivided in
to aquafeed, swine feed, pet food and others. Due to rising pet adoption and
greater expenditure on nutritionally rich pet food, Plasma Feed Industry earned
the biggest portion of its revenue share from pet food application in 2018.
However, over the forecast period, aquafeed is expected to replace pet food as
the dominating application segment in terms of growth rate.
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Regional Analysis:
Region wise, Plasma Feed Industry has been subdivided into
North America, Asia Pacific, Europe, South America and MEA. Increasing animal
protein consumption in Asia Pacific countries with emerging economies such as
Vietnam, China and South Korea has led to greater focus on animal nutrition
which in turn will add considerable growth impetus to Plasma Feed Industry.
Awareness and greater expenditure and research and development of animal feed
in countries with developed economies like those in Europe and North America
will also help to boost Plasma Feed Industry revenue share.
Competitive
Landscape:
The Plasma Feed
Industry is highly competitive due to the presence of various industry players
from all over the world such as EcoFeed LLC, Kraeber and Co, Darling
Ingredients, FeedWorks, Lican Food, Lihme Protein Solutions, Puretein Agri,
Rocky Mountain Biologicals, Sera Scandia, SARIA Group, Veos Group etc.
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States of America
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