The global Plasma Feed Market Size is anticipated to expand at a CAGR of 5.5% during the forecast period and reach a value of approximately USD 2.6 billion by the end of 2027.
The increase in demand for plasma protein animal feed as an alternative to antibiotics has fueled the development of the plasma feed industry. Antimicrobials added to feed, especially piglet feed, can be replaced with spray-dried plasma. Because of the increase in plasma feed consumption in aquafeed and the growth of the aquaculture industry, the market is expected to be lucrative for vendors in the global plasma feed industry. Furthermore, the consumer spending on pet food, especially in developing countries, is a major factor driving the Plasma Feed Market Size forward. Furthermore, since cold plasma is cost-effective, waste-free, and leaves minimal chemical residue on the product, its use has increased dramatically in recent years– a trend that is expected to continue throughout the forecast era.
Furthermore, rising government and non-government efforts to promote the animal feed industry for the benefit of livestock are expected to open up lucrative opportunities in the global market. Furthermore, the demand is projected to expand due to a rise in the sustainable supply of pet food feed and the expansion of the livestock feed market. For players in the current Plasma Feed Market Size environment, research and development activities have emerged as foundations of growth, and this trend is likely to continue in the coming years.
The outbreak of the novel COVID-19 pandemic is expected to push up research investments in the coming years. Following the outbreak of COVID-19, the demand for successful sterilization and disinfection of drugs, packaging materials, and other items has skyrocketed– a factor that is expected to boost the Plasma Feed Market Size throughout the ongoing pandemic. Furthermore, as customers remain cautious and demand high standards of hygiene and testing from players in the food and beverage industry, plasma feed technology is expected to gain traction in the coming months.
The uncertainty in the acceptance of products derived from animal blood, such as plasma feedstock for livestock and pets, has hampered the growth of the global plasma feed industry. Furthermore, the market's growth is hampered by the high capital needed to invest in blood plasma animal feed refining technology. However, rising pet owner and livestock grower concerns about animal welfare are expected to provide opportunities for market players in the coming years.
The global Plasma Feed Market Size has been segmented on the basis of source, application, and region.
Based on source, the global Plasma Feed Market Size has been segmented into bovine, porcine, and others. The porcine segment had the highest revenue share of the market and is expected to rise at the fastest pace during the forecast period. The segment's growth can be attributed to the porcine plasma feed's numerous health benefits. The large-scale slaughter of pigs for their meat aids in the collection of large volumes of their blood, which drives the segment's development.
The global Plasma Feed Market Size report is segmented by application into pet food, aquafeed, swine feed, and others. During the analysis period, the pet food segment is expected to dominate the industry, as plasma feed effectively meets the protein requirements of pets. Plasma feed is a safe, long-lasting, and cost-effective source of nutrition for pets. However, due to the demand for aquafeed and the expansion of the aquaculture industry, the aquafeed segment is expected to rise at the fastest pace during the forecast period.
By region, the global Plasma Feed Market Size has been classified as North America, Europe, Asia-Pacific, and the rest of the world.
Due to the demand for animal-based products such as blood plasma feed in the region, Asia-Pacific is expected to dominate the Plasma Feed Market Size during the forecast period. China, Vietnam, and South Korea are among the major country-level markets in Asia-Pacific that are driving market development. Furthermore, the high slaughter rate of animals in various Asia-Pacific countries fuels the regional market's development.
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EcooFeed LLC (US), FeedWorks (Australia), Sera Scandia (Denmark), Veos Group (Belgium), Lihme Protein Solutions (Denmark), SARIA Group (Germany), Puretein Agri LLC. (US), Kraeber & Co Gmbh (Germany), Lican Food (Chile), The Lauridsen Group Inc. (US), Darling Ingredients Inc. (US), and Rocky Mountain Biologicals (US), and Germains Seed Technology, Inc. (US), are some of the top players operating in the global Plasma Feed Market Size.
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