The plasma feed market Size is expected to grow at a compound annual growth rate of 6.14% over the forecast period to reach a market size of US$3.716 billion in 2025 from US$2.599 billion in 2019. The growth of the plasma feed market is driven by increasing demand for food that is devoid of antibiotics. Simultaneously, in light of the benefits of animal by products and the growing environmental concern associated with the animal slaughter industry too is expected to propel the growth of the market. The other factor is the increasing demand for pork meat around the world especially in the APAC region has led to a growing demand for an alternative protein source to be integrated into pig feed as a result of which, application-wise, the swine segment, albeit experiencing a dip due to the recent African Swine Fever (ASF) and CoVid19, is expected to hold a significant share in the plasma feed market. The latter is further substantiated by a study conducted in 2018 by an international team of researchers from the US and Brazil whereby it has been inferred that adding spray-dried porcine plasma (SDPP) to the diets of the older sows leads to the possibility of enhancing survival, performance and weaning weight of piglets. It also may be noted that earlier SDPP has been associated with enhanced feed intake, feed efficiency, and growth rate in young pigs. Later in 2019, a study was conducted by Darling Ingredients Inc. whereby it was inferred that in SDPP virus could be successfully inactivated after processing. The aforesaid development will aid the adoption of SDPP as the few nations recover from the setbacks suffered due to ASF. Another aspect that is poised to drive the growth of this market is the increasing preference of consuming seafood over red meat by a healthy section of consumers as they are increasingly recognized as a healthy alternative. Moreover, the health concern that arises from the use of antibiotic infused feed is another reason that will enable the aqua feed segment to drive the growth of the plasma feed market. To this end, research conducted by Darling Ingredients Inc. inferred that shrimp that are fed with plasma showed relatively more growth.
The other factor that is poised to lead to the meteoric rise of the plasma feed market during the forecast period is the increasing adoptions of pets which in turns is driving the pet food market necessitating the pet food manufacturers to invest in superior quality pet food ingredient to woo in more number pet-owners who are increasingly concerned about the health of their animal companion. Moreover, the inclination to own a pet has been propelled by the increasing realization of a host of benefits that arises from the bond between a human being and a companion animal. The benefits include the reduction of stress and enhancing fitness along with a sense of joy which further translates to reduced levels of blood pressure, reduced cholesterol levels, decreased feelings of loneliness, reduced levels of triglyceride, more opportunities for exercise and outdoor activities, more opportunities for socialization, among others. [Source: Centers for Disease Control and Prevention, U.S. Department of Health & Human Services]. Further, the sentiment of walking that extra mile for companion animals has augmented the demand for premium categories in pet food, successfully effectuating consumer expectations that have transitioned from superior quality offering to humanized offerings. The latter implies the desire for pet food options that resonate with the same health concerns which influence consumer choices while purchasing food for human consumption. Thus, setting the bar relatively high where pet food manufacturers are increasingly finding themselves not only competing with traditional pet food products but also with human foods that are considered by the pet parents as relatively safer and devoid of additives which are not derived naturally. Thus, the increasing enthusiasm with which consumers seek functionalities in purchases for their consumption is also shared when purchasing pet foods thus aiming for more healthy choices rather than indulgent choices. This shift in consumer preference to this end has been reflected in a decision by Petco which is a leading pet specialty retailer headquartered in California USA and operating out of more than 1500 location, back in 2018, when it had announced it will cease selling food and treats containing artificial colors, flavors, and preservatives for dogs and cats by May 2019. Further, a New Zealand based ZIWI Peak launched a new line of product called Provenance that includes both airdried and wet meals in February 2020. The wet diets comprise lamb plasma, eggs, and animal-based broths as natural binders. Thus, in addition to the quality of the product, the type of ingredients has emerged as one of the major determinants influencing a consumers’ choice.
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