(MENAFN- Ameliorate Digital Consultancy)
As revealed by Fact.MR in its newly published industry research report, the global blood meal market stands at US$ 2.28 billion in 2023. The market is projected to expand at a CAGR of 3.6% and reach a value of US$ 3.25 billion by 2033.
Growing demand for animal protein is leading to rising sales of blood meal. Increasing consumption of meat products is leading to the rising availability of different types of blood meal products. The benefits of blood meal are leading to its increased usage as a dietary supplement and organic fertilizer for livestock.
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Growth Drivers:
Rising Demand for Organic and Natural Fertilizers : With increasing awareness about environmental sustainability and organic farming practices, there was a growing demand for organic and natural fertilizers. Blood meal, being a natural source of nitrogen and other nutrients, was sought after by organic farmers as an alternative to synthetic fertilizers. Nutrient-Rich Source for Plants : Blood meal is rich in nitrogen, a crucial nutrient for plant growth and development. It provides a quick release of nitrogen to plants, making it valuable for crops that require a rapid boost in nutrient availability, such as leafy greens and vegetables. Animal Feed Industry : Blood meal is also used as an ingredient in animal feed due to its high protein content. It can be fed to livestock and poultry to supplement their diets with essential amino acids. The growth of the livestock industry and the demand for protein-rich animal feed contributed to the demand for blood meal. Increasing Meat Production : As global meat consumption and production continued to rise, so did the availability of blood as a byproduct of slaughterhouses. Blood meal production utilized this byproduct effectively, reducing waste and providing an additional revenue stream. Growing Awareness of Blood-Borne Pathogens : Blood meal can be processed and treated to minimize the risk of pathogens, making it a safer product for agricultural and feed use. The increasing awareness of proper processing techniques and safety measures contributed to the market's growth by addressing concerns about contamination. Sustainable Waste Management : Blood meal production contributes to sustainable waste management by utilizing a byproduct that might otherwise be discarded, thereby reducing the environmental impact of slaughterhouse waste. Competitive landscape:
Companies involved in the production and supply of blood meal are investing to ensure the quality control of products, strengthen their systems adopted for supply chain management, maintain product standards, etc.
Blood meal manufacturers are spending significantly on several R&D activities for product innovations to expand their reach across boundaries. They are adopting varistrategies, including product launches, collaborations, and others to get a competitive edge.
For instance :
In May 2022, Darling Ingredients Inc. acquired FGroup to extend its geographical presence and offer new products in the blood meal space. In January 2020, Sanimax launched a new animal protein, which consists of products, including blood meal from non-ruminants and blood meal from ruminants.
Key players in the blood meal market are Darling Ingredients Inc., West Coast Reduction Ltd., Terramar Chile SpA, Valley Proteins Inc., Allanasons Pvt. Ltd., Ridley Corporation Limited, The Boyer Valley Company, APC Inc., FGroup, SpeGuadalajarade CV, and Sanimax.
Segmentation of Blood Meal Industry Research:
Poultry Blood Porcine Blood Ruminant Blood
Solar Drying Drum Drying Spray Drying Ring & Flash Drying
Poultry Feed Aqua Feed Porcine Feed Natural Pest Deterrents Ruminant Feed Organic Fertilizers
North America Europe Asia Pacific Latin America Middle East & Africa
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Questionnaire answered in the Market outlook Report of Blood Meal include:
What is the key strategy deployed by large players to maximize Blood Meal Market growth? What are the main challenges faced by players in the Blood Meal market Demand? With the advent of technological advancement, how will the Blood Meal market landscape change over the forecast period? What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Blood Meal market size?
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