However, high investments required for refining technology at commercial and high cost of plasma feed products might hamper the growth of the plasma feed market. In addition, uncertainty concerning the acceptance of blood-based products for livestock feed would be a lag in the growth of the plasma feed market.
Plasma Feed Market: Introduction
- Plasma feed can be defined as feed products that involve animal derived plasma proteins as the feed ingredient. Plasma, as an animal feed ingredient, is easily digestible and offers high quality protein. It mainly contains essential plasma proteins, including globulins and albumin.
- In terms of amino acids, plasma is considered to be rich in threonine and lysine. However, owing to the high cost of the plasma feed additives, it is being included mainly in the diets of young piglets, in the swine industry.
Key Drivers and Restraints of Global Plasma Feed Market
- The growth of the plasma feed market can be attributed to increase in demand for alternate protein sources
- The strong growth in the meat industry, rise in the global meat production and consumption, and significant demand for livestock, have been contributing to the growth of the plasma feed market. According to the Food and Agriculture Organization (FAO), the meat consumption has increased by over 5% over the years and the demand for dairy products has increased by over 4% over the years.
- The tendency of humanizing pets has been growing significantly over the years, which has been creating high demand for high quality pet feed. Plasma feed is considered as a sustainable and natural source of pet food, owing to various advantages such as palatability, emulsifying properties, and water binding capacity. This has been contributing to the growth of the plasma feed market.
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- However, high investments required for refining technology at commercial and high cost of plasma feed products might hamper the growth of the plasma feed market. In addition, uncertainty concerning the acceptance of blood-based products for livestock feed would be a lag in the growth of the plasma feed market.
North America to Lead Global Plasma Feed Market
- In terms of region, the global plasma feed market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global plasma feed market in 2018. Strong growth in the beef, dairy, and swine industries, creates a demand for feed protein supplements, thereby contributing to the growth of the plasma feed market in the region. In addition, growth in the sustainable feed supply for pet food manufacturing and aquafeed manufacturing, contribute to the growth of the plasma feed market.
- Europe was the second largest market for plasma feed in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for plasma feed, followed by Latin America and Middle East & Africa. The strong growth of the market in Asia Pacific can be attributed to increasing consumption and production of meat and focus on high quality pet food. In addition, the growing shift of consumers toward high meat consumption in various countries of Asia Pacific is one of the driving factors of the plasma feed market in the region.
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- However, high investments required for refining technology at commercial and high cost of plasma feed products might hamper the growth of the plasma feed market. In addition, uncertainty concerning the acceptance of blood-based products for livestock feed would be a lag in the growth of the plasma feed market.
- However, high investments required for refining technology at commercial and high cost of plasma feed products might hamper the growth of the plasma feed market. In addition, uncertainty concerning the acceptance of blood-based products for livestock feed would be a lag in the growth of the plasma feed market.
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