Global Blood Meal Market set to reach $2.93 billion by 2033, driven by nutritional benefits and demand growth

From GlobeNewswire: 2024-06-26 02:00:00

The Global Blood Meal Market is projected to grow from USD 2.13 billion in 2023 to USD 2.93 billion by 2033, with a CAGR of 3.24%. Blood meal, made from dried animal blood, is rich in nutrients like potassium, phosphorus, and nitrogen, making it beneficial for plant growth and animal nutrition. One driving factor is the increasing awareness of its nutritional benefits, especially in the pet food industry.

Poultry blood is expected to dominate the global blood meal market, as it is readily available and requires minimal processing. The poultry feed segment is anticipated to lead in application, as blood meal serves as a reliable and affordable protein source for poultry. North America is set to lead the market, driven by the expanding cattle and poultry industries.

In the Asia-Pacific region, including countries like Japan, China, and India, the demand for blood meal is rising due to the growing livestock and meat processing industries. This presents a significant growth opportunity for industry players, as the region focuses on sustainable agricultural practices and seeking nutrient-rich soil amendments. Major vendors in the blood meal market include Darling Ingredients Inc., Valley Proteins, and GEA Farm Technologies.

An innovative blood meal processing method was introduced by NexGen Bioproducts in August 2023, aiming to improve quality and energy efficiency. The market is segmented based on source (porcine, poultry, ruminant blood) and application (poultry feed, porcine feed, ruminant feed, aquafeed). Spherical Insights & Consulting provides actionable market research tailored for decision-makers in various industries, aiming to drive strategic improvements and achieve business objectives.



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