Global Plasma Feed Market Outlook
Plasma Feed Market Size was valued at USD 2.1 Billion in 2022. The plasma feed market industry is projected to grow from USD 2.226 Billion in 2023 to USD 3.5479058 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 – 2032). The increasing demand for high-quality animal protein, developing trends in animal health and nutrition, the expanding demand for high-quality animal protein, and the growing understanding of the advantages of plasma-based animal feeds in improving animal performance and general health, are the key market drivers enhancing market growth.
Growing Need for High-Quality Pet Food to Boost Market Growth
Future market expansion for plasma feed is anticipated to be aided by the rising demand for premium pet food. Food of good quality and nutrients is referred to as high-grade pet food. Plasma feed is a useful and nutritious component of pet food that is utilized as a good source of nucleotides, functional proteins, and antibodies that offer special health advantages. As a consequence, the market for plasma feed is becoming more and more in demand as consumers want higher-quality pet food.
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Growing Need for Animal-Based Protein to offer Robust Opportunities
In order to supply the increased demand for meat and high-value animal protein, the livestock sector has been under rising pressure in recent years. Population expansion, growing affluence in emerging countries, and urbanization has all contributed to an increase in the consumption of cattle worldwide. The amount of milk, meat, & eggs consumed—which is rising at the cost of staple foods—is closely correlated with income levels and animal protein intake. Urbanization has increased per capita consumption since there is a greater need for milk & meat products especially in cities than in rural regions. Fish demand is rising quickly as more people become aware of health advantages of eating fish. As a result, rising life expectancy, a lack of available land and water for the production of animal feed, as well as a high demand for protein sources derived from animals, are all factors driving the worldwide plasma feed market.
Restraints and Challenges
High Manufacturing Cost to act as Market Restraint
The high manufacturing and processing cost coupled with uncertainty in acceptance may act as market restraints over the forecast period. Besides, the impact of the COVID-19 may also impede market growth.
The global plasma feed market is bifurcated based on application and source.
By source, porcine will lead the market over the forecast period.
By application, pet food will domineer the market over the forecast period.
North America to Head Plasma Feed Market
Because of the increasing awareness of plasma’s many advantages among North Americans and an increase in the incidence of respiratory ailments, North America will continue to lead the market over the time of the projection. Additionally, the Canadian market had the quickest rate of growth in the North American area, while the U.S. plasma feed industry had the biggest market share. The largest market is the United States. In North America, the most popular meats to eat are beef, poultry, and veal. Additionally, factors like the substantial demand for organic meat, the expansion of sustainable feed supply especially for pet food production, and the production of aquafeed are all contributing to the market growth in this area.
Eminent market players profiled in the global plasma feed market report include Sera Sc andia, Saria Group, Rocky Mountain Biologicals, LicanFood, Veos Group, Baxter International Inc., Grifolis S.A., CSL Limited, The Lauridsen Group Inc., PureteinAgri LLC., Darling Ingredients Inc., EcooFeed LLC., Accuray Inc., and Boston Scientific Corp.
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