Plasma Feed Market Share, Global Analysis, Size, Industry Demand by Forecast to 2024

Market Overview

Global Plasma Feed Market size is expected to reach a value of approximately USD 2.6 billion by 2024, expanding at a CAGR of 5.5% during the forecast period. Blood plasma feed or plasma protein animal feed refers to the plasma proteins derived from animal blood and used as an additive in animal feed as a rich source of proteins. However, presence of stringent regulations regarding the use of animal-derived ingredients in certain feed products such as plasma feedstock, especially ruminant feed, is expected to hamper the growth of the market players operating in the plasma feed industry.

Key Players

Some of the key players in the Global Plasma Feed Market are Lihme Protein Solutions (Denmark), EcooFeed LLC (US), Lican Food (Chile), Kraeber & Co Gmbh (Germany), FeedWorks (Australia), The Lauridsen Group Inc. (US), Rocky Mountain Biologicals (US), Darling Ingredients Inc. (US), Veos Group (Belgium), SARIA Group (Germany), Puretein Agri LLC.  (US), and Sera Scandia (Denmark).

Recent Market Developments

In October 2018, Darling Ingredients Inc. acquired the pet food ingredient operations of Triple - T Foods Arkansas, Inc. to expand its premium protein business catering to the pet food industry.

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Regional Analysis

Asia-Pacific is projected to dominate the global plasma feed market by 2024, expanding at the highest CAGR during the forecast period. The growing presence of players in the region is a crucial factor driving the growth of the market in the region. High dependence of farmers on livestock in the developing countries and increase in demand for livestock products such as meat are fueling the market growth in the region.

North America is expected to account for a significant share of the global plasma feed market due to the presence of an established animal feed market. Several prominent players operate in the region, which, in turn, is propelling the regional market growth. Additionally, an increase in spending on pet food, especially in the US, is boosting the demand for plasma protein animal feed in pet food.

Segment

The global plasma feed market has further been segmented by source and application.

By source, the global plasma feed market has been classified as bovine, porcine, and others. Porcine is expected to be the largest and the fastest-growing segment. On the basis of application, the market has been segregated into pet food, aquafeed, swine feed, and others. The pet food segment is expected to be the largest revenue generating segment of the market. However, the aquafeed products segment is expected to register the highest growth rate during the forecast period.

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