Blood Meal Global Market Report 2024

The blood meal market has grown steadily in recent years. It will grow from $1.98 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The expansion observed during the historic period can be attributed to several key factors, including the growth of the animal feed industry, the expansion of meat and poultry production, the recognition of blood meal as an effective nutrient source, the utilization of waste in abattoirs for resourcefulness, and the increased production of organic fertilizers. These elements collectively contributed to the growth and utilization of blood meal across various industries and applications.

The blood meal market is expected to see steady growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The projected growth in the forecasted period is expected to be driven by several significant factors, notably the expanding aquaculture industry, the growth of insect farming, the global increase in population, the application of blood meal in biomedical research, and the expanding market for organic products.

The escalating demand for animal meat is poised to propel the blood meal market's growth. Animal meat encompasses edible parts of domesticated animals, forming a vital food source. Blood meal, a by-product of slaughter, serves as a high-protein dietary supplement for livestock such as cattle, fish, and poultry. Forecasts from the OECD-FAO Agricultural Outlook 2022-2031 predict a rise in global edible fish consumption to 21.4 kilograms per capita by 2031, up from an average of 20.5 kilograms in the baseline period (2019-2021). Additionally, global poultry meat consumption is anticipated to reach 154 metric tons, constituting about half of the increased meat consumption. Thus, the surge in animal meat demand is steering the blood meal market's growth.

The burgeoning livestock population is set to drive the blood meal market forward. Livestock, including cattle, sheep, pigs, chickens, and more, are reared for various purposes such as food production and other resources. Blood meal, known for its high protein and nutrient content, becomes a valuable component in balanced animal feeds. Its efficient utilization in feed formulations supports the health, growth, and productivity of livestock and aquaculture species. According to the Brazilian Institute of Geography and Statistics, the hog and pig population grew by 3.2% in 2021, reaching a total of 42.25 million animals. Hence, the rise in livestock population is a significant driver of the blood meal market.

The increasing demand for food and beverages is expected to fuel the blood meal market's growth. Food and beverages encompass any consumable product for human consumption. Blood meal serves as a nutritional supplement for livestock, contributing dietary lysine to cattle, fish, and poultry. Reports from Statistics Canada, Farm Credit Canada (FCC), and the Food and Drink Federation indicate a consistent increase in food and beverage sales. For instance, in 2020, food and beverage manufacturing sales in Canada increased by 3.5% YoY to $122.9 billion, while the processed food and drink industry in the UK witnessed a growth from £105 billion in 2020 to £112 billion in 2021, accounting for 20% of the total UK manufacturing. Thus, the rising demand for food and beverages drives the blood meal market's growth.

Leading entities in the blood meal market are innovating with new pilot spray dryers to gain a competitive edge. These dryers, scaled-down versions of industrial counterparts, convert liquid or slurry feedstocks into powdered or granulated materials. For example, RELCO LLC launched the Parvus pilot spray dryer in April 2023, catering to various food applications. The system, available in two models, Nomad and Multi-Stage, accommodates trial batches and larger production volumes. It offers flexibility for testing and scalability, aligning with market demands in areas such as plant protein, fermentation, and collagen. The pilot spray dryer ensures moisture control and powder manipulation similar to full-scale systems but tailored for small-scale and trial requirements, addressing emerging market opportunities.

In May 2022, Darling Ingredients, a prominent agri-food producer based in the US, completed the acquisition of Fasa Group for an undisclosed sum. This strategic move facilitated Darling Ingredients in broadening its geographical reach and introducing new product lines in the blood meal market. Additionally, the acquisition provided an advantageous platform for expanding its specialty ingredients business. Fasa Group, headquartered in Brazil, specializes in the production of poultry blood meal and other sustainable ingredients catering to the animal feed sector, aligning with the growing demands associated with population growth and sustainable agricultural practices.

Major companies operating in the blood meal market report 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., 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., Frigorifico Allana Private Limited, Agridient Inc., Archer Daniels Midland Company, Ag Processing Inc., Cargill Incorporated, Coppens International B.V., Dinnissen Process Technology B.V., Duynie Group B.V., Fambrosa S.A.U., ForFarmers N.V., InVivo NSA, The J.M. Smucker Company, Land O'Lakes Inc., Nutreco Co. B.V., OJ Ingredients Ltd., Olmix Group.

North America was the largest region in the blood meal market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global blood meal market during the forecast period. The regions covered in the blood meal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the blood meal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary sources of blood meal include porcine (from pigs), poultry, and ruminant (from cattle, sheep, etc.) blood. Porcine blood, originating from pigs, undergoes various manufacturing processes such as solar drying, drum drying, ring and flash drying, and spray drying. These processes render the blood into a form suitable for applications in animal feed, agricultural purposes, and other related uses.

The blood meal market research report 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.

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.

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.


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