Blood Meal Global Market Report 2023
Major players in the blood meal market are Boyer Valley Company LLC., Terramar Chile SpA, Darling Ingredients Inc., West Coast Reduction Ltd., Valley Proteins Inc., Sanimax APC Inc., The Fertrell Company, Ridley Corporation Limited, Allanasons Pvt Ltd.
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Meal Global Market Report 2023" - https://www.reportlinker.com/p06479794/?utm_source=GNW
, FASA Group, The Boyer Valley Company, Apelsa Guadalajara S.A. de C.V., Bar-Magen Ltd., Agro-industrial Complex Backa Topola LTD., APC Company Inc., and Frigorifico Allana Private Limited (FAPL).
The global blood meal market is expected to grow from $1.90 billion in 2022 to $1.98 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The blood meal market is expected to reach $2.27 billion in 2027 at a CAGR of 3.4%.
The blood meal market consists of sales of ruminant feed, poultry feed, and porcine feed.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Blood meal refers to the ground-dried blood of animals which is a non-synthetic source of nitrogen used for feeding livestock as a nitrogenous fertilizer. It is used as a high-nitrogen organic fertilizer and a high-protein animal feed.
North America was the largest region in the blood meal market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in blood meal report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main sources of blood meal are porcine blood, poultry blood, and ruminant blood.Porcine blood refers to blood from pigs.
It is manufactured through various processes such as solar drying, drum drying, ring and flash drying, and spray drying for animal feed, agriculture, and others.
The growing demand for animal meat is expected to boost the growth of the blood meal market going forward.Animal meat refers to the flesh or other edible parts of domesticated or edible animals, such as cattle, swine, sheep, fish, and birds, that are used for food.
A blood meal is a by-product of animal slaughter that is used as a dietary supplement for livestock such as cattle, fish, and poultry, which is high in protein and contains low levels of phosphorus and potassium used as a feed additive for animals. For instance, according to the Agricultural Outlook 2022–2031 report published by OECD–FAO, an Italy-based organization that provides consensus assessments for agriculture and fish markets, global apparent edible fish consumption is expected to reach 21.4 kilograms per capita in 2031, up from 20.5 kilograms in the baseline period (average 2019–2021). Furthermore, poultry meat consumption is expected to rise to 154 metric tons globally throughout the forecast period, accounting for roughly half of the increased meat consumed. Therefore, the growing demand for animal meat is driving the growth of the blood meal market.
Increasing demand for food and beverages is expected to propel the growth of the blood meal market going forward.Food and beverages are any raw, cooked, or processed edible product used or intended for use in whole or in part for human consumption.
Blood meal is used as a livestock nutritional supplement, providing dietary lysine to cattle, fish, and fowl. For instance, in March 2021, according to Statistics Canada and farm credit Canada (FCC), a Canada-based agricultural term lender, the food and beverage manufacturing sales increased by 3.5% year-over-year (YoY) in 2020 from $118.7 billion to $122.9 billion. Furthermore, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover grew from £105 ($115.01) billion in 2020 to £112 ($122.68) billion in 2021, increased by 3.4% since 2020, accounting for 20% of the total UK manufacturing. Therefore, the increasing demand for food and beverages is driving the growth of the blood meal market.
In May 2022, Darling Ingredients, a US-based agri-food producer acquired Fasa Group for an undisclosed amount.This acquisition helped Darling Ingredients in expanding its geographical presence along with new product offerings in the blood meal market and also provides a premier location for the expansion of its specialty ingredients business.
Fasa Group is a Brazil-based company that produces poultry blood meal and other sustainable ingredients for animal feed and population growth.
The countries covered in the blood meal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The blood meal market research report is one of a series of new reports that provides blood meal market statistics, including blood meal industry global market size, regional shares, competitors with a blood meal market share, detailed blood meal market segments, market trends and opportunities, and any further data you may need to thrive in the blood meal industry. This blood meal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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