The plasma feed market size is expected to grow at a compound annual growth rate of 3.14% over the forecast period to reach a market size of US$3.225 billion by 2027 from US$2.597 billion in 2020.
There is an increasing demand for food that is free of antibiotics, which is driving the growth of the plasma feed market. Additionally, the growing environmental concern associated with the animal slaughter industry and the benefits of animal by-products are expected to propel the market's growth.
The other factor is that 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 COVID 19, 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 older sows leads to the possibility of enhancing the survival, performance, and weaning weight of piglets. It may also 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 the 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.
Health concerns driving the market growth
Another aspect that is poised to drive the growth of this market is the preference of consumers for 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 were fed with plasma showed relatively more growth.
Increasing zeal for pet adoption has propelled the growth of the market in a number of ways
The other factor that is poised to contribute to the meteoric rise of the plasma feed market during the forecast period is the increasing adoption of pets. Therefore, pet food manufacturers must invest in superior quality ingredients to woo in pet-owners who are more concerned about their animal companions' health, which is driving the pet food market.
Pet ownership has also surged due to the increasing realization that companion animals offer a host of benefits to humans. Additionally, there is a reduction of stress and enhanced fitness, as well as a sense of joy, which is further translated into lower levels of blood pressure, lower cholesterol levels, decreased feelings of loneliness, lower levels of triglycerides, and more opportunities for exercise and outdoor activities among others as per 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 that influence consumer choices when purchasing food for human consumption.
Thus, setting the bar relatively high where pet food manufacturers are increasingly finding themselves competing not only with traditional pet food products but also with human foods that are considered by the pet parents as relatively safer and devoid of additives that are not derived naturally. Thus, consumers seek functionalities in purchases for their consumption when purchasing pet foods, therefore choosing healthier options rather than indulgent ones.
Petco, a leading pet speciality retailer with over 1500 locations headquartered in California USA, announced in 2018 that it would stop selling dog and cat food that contains artificial colours, flavours, and preservatives by May 2019.
Furthermore, New Zealand-based ZIWI Peak launched a new line of products called Provenance that includes both air-dried and wet meals in February 2020. A wet diet consists of eggs, lamb plasma, and animal-based broths as natural binders. This type of ingredient has thus emerged as a major factor influencing a consumer's choice, along with the quality of the product.
Global plasma feed market growth has been strongly impacted by the COVID-19 pandemic in 2020. During the COVID-19 pandemic, the demand for effective sterilization and disinfection of products, packaging materials, and other commodities has increased exponentially - boosting the growth of the plasma feed market. Plasma feed technology is expected to gain traction in the upcoming months as consumers continue to tread cautiously and demand high levels of hygiene and testing from food and beverage companies. Research investments and usage of this technology are expected to rise during the forecasted period as the industry has recognized its importance during the pandemic.
|Market Size Value in 2020||US$2.597 billion|
|Market Size Value in 2027||US$3.225 billion|
|Growth Rate||CAGR of 3.14% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Source, Application, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||APC (The Lauridsen Group Inc.), Cargill, Incorporated, Darling Ingredients Inc., EccoFeed LLC, Feedworks Pty Ltd., Kraeber & Co Gmbh, Lican Food, Lihme Protein Solutions, PURETEIN AGRI LLC|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global plasma feed market?
A1. Plasma Feed Market was valued at US$2.597 billion in 2020.
Q2. What will be the plasma feed market size by 2027?
A2. The plasma feed market size is expected to reach US$3.225 billion by 2027.
Q3. What factors are anticipated to drive the plasma feed market growth?
A3. The plasma feed market growth is driven by increasing demand for food that is devoid of antibiotics.
Q4. What are the growth prospects for the plasma feed market?
A4. The global plasma feed market is expected to grow at a CAGR of 3.14% over the forecast period.
Q5. How is the plasma feed market segmented?
A5. The plasma feed market has been segmented by source, application, and geography.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Plasma Feed Market Analysis, By Source
6. Plasma Feed Market Analysis, By Application
6.2. Additives Swine-feed
7. Plasma Feed Market Analysis, by Geography
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. The Middle East and Africa
7.5.3. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. APC (The Lauridsen Group Inc.)
9.2. Cargill, Incorporated
9.3. Darling Ingredients Inc.
9.4. EccoFeed LLC
9.5. Feedworks Pty Ltd.
9.6. Kraeber & Co Gmbh
9.7. Lican Food
9.8. Lihme Protein Solutions
9.9. PURETEIN AGRI LLC
APC (The Lauridsen Group Inc.)
Feedworks Pty Ltd.
Kraeber & Co Gmbh
Lihme Protein Solutions
PURETEIN AGRI LLC
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.