The Plasma Feed Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Plasma Feed Global Market Report 2024, The plasma feed market size has grown strongly in recent years. It will grow from $2.41 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased demand for animal protein, efforts to improve feed efficiency, nutrient-rich composition of plasma, concerns about animal health and immunity, regulatory approvals and compliance.
The plasma feed market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to focus on gut health in animals, research in plasma protein functionality, expansion of premium pet food market, consumer demand for ethical sourcing, globalization of animal feed trade. Major trends in the forecast period include customization for different animal species, technological innovations in feed additives, collaborations in feed industry, digitalization in animal agriculture, traceability and quality assurance.
The growing demand for high-quality pet food is expected to boost the growth of the plasma feed market going forward. High-quality pet food refers to food with good quality and nutrition. Plasma feed is a functional and nutritious ingredient in pet food used as a source of functional proteins, nucleotides, and antibodies that provide unique health benefits, as a result, the growing demand for high-quality pet food increases the demand for plasma feed market. For instance, in March 2023, according to the article released by the American Pet Products Association (APPA), a US-based non-profit trade organization that represents the pet products industry, pet food and treat sales in the United States accounted for $58.1 billion in 2022, increased by approximately 39% compared to $42 billion in 2020. Furthermore, in 2023, pet food and treats are projected to account for $62.7 billion in sales in the U.S. Therefore, the growing demand for high-quality pet food is propelling the growth of the plasma feed market.
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The plasma feed market covered in this report is segmented –
1) By Source: Porcine, Bovine, Other Sources
2) By Sales Channel: Online, Offline
3) By Application: Swine Feed, Pet Food, Aquafeed, Other Applications
Product innovation is a key trend gaining popularity in the plasma feed market. Major companies operating in plasma feed are strengthening their market position by discovering new and advanced feed products. For instance, in November 2021, APC Inc., a leading US-based company specializing in producing high-quality protein ingredients for animal nutrition and health, introduced three new hydrolyzed protein products named Pepteiva, Peptein, and Cravings. The newly launched products by APC Inc. are aimed at reducing drug intake and the environmental impact on livestock, fish, and other farms. These products, pepteiva, and peptein, are specifically designed for animal nutrition and welfare improvement. They are approved for feeding to all animal species, including ruminants.
The plasma feed market report table of contents includes:
1. Executive Summary
2. Plasma Feed Market Characteristics
3. Plasma Feed Market Trends And Strategies
4.Plasma Feed Market analysis
5. Plasma Feed Market Size And Growth
6.Plasma Feed Segmentation
7.Plasma Feed Regional And Country Analysis
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27.Plasma Feed Competitive Landscape And Company Profiles
28.Plasma Feed Key Mergers And Acquisitions
29.Plasma Feed Future Outlook and Potential Analysis
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