Blood Meal Market 2024 | Market Trends, Key Drivers, Competitive Landscape, Share And Forecast To 2033
Overview and Scope
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.
Sizing and Forecast
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 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. It will grow to $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 growing aquaculture industry, expansion of insect farming, global population growth, application in biomedical research, 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, development of hydrolyzed blood meal.
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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
The growing demand for animal meat is expected to boost the growth of the blood meal market going forward. Animal meat refers to the flesh or other edible parts of domesticated or edible animals, such as cattle, swine, sheep, fish, and birds, that are used for food. A blood meal is a by-product of animal slaughter that is used as a dietary supplement for livestock such as cattle, fish, and poultry, which is high in protein and contains low levels of phosphorus and potassium used as a feed additive for animals. For instance, according to the Agricultural Outlook 2022–2031 report published by OECD–FAO, an Italy-based organization that provides consensus assessments for agriculture and fish markets, global apparent edible fish consumption is expected to reach 21.4 kilograms per capita in 2031, up from 20.5 kilograms in the baseline period (average 2019–2021). Furthermore, poultry meat consumption is expected to rise to 154 metric tons globally throughout the forecast period, accounting for roughly half of the increased meat consumed. Therefore, the growing demand for animal meat is driving the growth of the blood meal market.
Key Industry Players
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
The blood meal market report table of contents includes:
1. Executive Summary
2. Blood Meal Market Characteristics
3. Blood Meal Market Trends And Strategies
4. Blood Meal Market — Macro Economic Scenario
5. Global Blood Meal Market Size and Growth
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31. Global Blood Meal Market Competitive Benchmarking
32. Global Blood Meal Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Blood Meal Market
34. Blood Meal Market Future Outlook and Potential Analysis
35. Appendix
