Global Blood Meal Market Size 2024, Forecast To 2033
6 Mar, 2024
The blood meal market size 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 growth in the historic period can be attributed to the animal feed industry growth, meat and poultry production expansion, effective nutrient source, waste utilization in abattoirs, organic fertilizer production. The blood meal market size is expected to see steady growth in the next few years, reaching $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to the growing aquaculture industry, expansion of insect farming, global population growth, application in biomedical research, and market expansion for organic products. Major trends in the forecast period include technological advancements in processing, research and development in animal nutrition, research in blood meal-based biostimulants, organic, and non-GMO trends, and the development of hydrolyzed blood meal.
Global Blood Meal Market Key Driver
The blood meal market is poised for growth owing to the growing demand for animal meat. Animal meat, derived from domesticated or edible animals such as cattle, swine, and poultry, serves as a significant food source globally. Blood meal, a by-product of animal slaughter, is utilized as a protein-rich dietary supplement for livestock. The OECD-FAO Agricultural Outlook 2022–2031 predicts a rise in global apparent edible fish consumption to 21.4 kilograms per capita by 2031, up from 20.5 kilograms in the baseline period (average 2019–2021). Additionally, poultry meat consumption is projected to increase to 154 metric tons globally during the forecast period, accounting for nearly half of the increased meat consumption. Therefore, the escalating demand for animal meat fuels the growth of the blood meal market.
Get A Free Sample Of The Global Blood Meal Market ReportGlobal Blood Meal Market Segments
The blood meal market covered in this report is segmented –
1) By Source: Porcine Blood, Poultry Blood, Ruminant Blood
2) By Process: Solar Drying, Drum Drying, Ring and Flash Drying, Spray Drying
3) By Application: Animal Feed, Agriculture, Other Applications
By Geography:The regions covered in the blood meal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Blood Meal Industry Players
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
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Blood Meal Market Overview
Blood meal refers to the ground-dried blood of animals which is a non-synthetic source of nitrogen used for feeding livestock as a nitrogenous fertilizer. It is used as a high-nitrogen organic fertilizer and a high-protein animal feed.
Blood Meal Global Market Report 2023 provides data on the global blood meal market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The blood meal market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.