Blood Meal Global Market 2024 To Reach $2.37 Billion By 2028 At Rate Of 3.6%
Blood Meal Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Blood Meal Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The global blood meal market has shown steady growth in recent years, expanding from $1.98 billion in 2023 to $2.06 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. This growth is driven by several factors, including the expansion of the animal feed industry, increased meat and poultry production, and the use of blood meal as an effective nutrient source and organic fertilizer. Looking forward, the market is projected to reach $2.37 billion by 2028, growing at a CAGR of 3.6%. This forecasted growth can be attributed to the growing aquaculture industry, the expansion of insect farming, and the rising demand for organic products.
Surging Demand for Animal Meat to Drive Market Growth
The increasing global demand for animal meat is3 a key factor driving the growth of the blood meal market. Blood meal, a by-product of animal slaughter, is rich in protein and serves as a valuable feed additive for livestock, including cattle, fish, and poultry. This trend is supported by data from the Agricultural Outlook 2022–2031 report by OECD–FAO, which predicts an increase in global edible fish consumption to 21.4 kilograms per capita by 2031, up from 20.5 kilograms in the baseline period. Similarly, global poultry meat consumption is expected to rise to 154 metric tons throughout the forecast period, representing roughly half of the total increase in meat consumption.
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Key Players and Market Trends
Major companies operating in the blood meal market include Boyer Valley Company LLC, Terramar Chile SpA, Darling Ingredients Inc., West Coast Reduction Ltd., and Valley Proteins Inc. These companies are focusing on innovation and expansion to maintain their competitive edge. Notably, advancements in blood meal processing technologies and increased research and development in animal nutrition and blood meal-based biostimulants are key trends expected to shape the market's future.
Segments:
• By Source: Porcine Blood, Poultry Blood, Ruminant Blood
• By Process: Solar Drying, Drum Drying, Ring and Flash Drying, Spray Drying
• By Application: Animal Feed, Agriculture, Other Applications
Geographical Insights: North America Leading The Market
North America was the largest region in the blood meal market in 2023, driven by robust meat production and established agricultural practices. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, supported by expanding aquaculture industries and growing demand for organic and sustainable agricultural products.
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Blood Meal Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Blood Meal Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on blood meal market size,2 blood meal market drivers and trends, blood meal market major players, blood meal competitors' revenues, blood meal market positioning, and blood meal market growth across geographies. The blood meal market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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