Global Plasma Feed Market Size 2024, Forecast To 2033
6 Mar, 2024
The plasma feed market has exhibited robust growth, escalating from $2.41 billion in 2023 to $2.61 billion in 2024, with a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period is attributed to increased demand for animal protein, endeavors to enhance feed efficiency, the nutrient-rich composition of plasma, concerns regarding animal health and immunity, and regulatory approvals and compliance. Forecasts suggest continued strong growth, reaching $3.47 billion in 2028, with a compound annual growth rate (CAGR) of 7.4%. This growth is driven by a focus on gut health in animals, research in plasma protein functionality, the expansion of the premium pet food market, consumer demand for ethical sourcing, and the globalization of the animal feed trade. Major trends in the forecast period encompass customization for different animal species, technological innovations in feed additives, collaborations in the feed industry, digitalization in animal agriculture, and traceability and quality assurance.
Global Plasma Feed Market Key Driver
The escalating demand for top-tier pet food is poised to amplify the expansion of the plasma feed market. High-quality pet food, characterized by superior quality and nutritional content, is driving the need for functional and nutritious ingredients like plasma feed. This ingredient serves as a source of functional proteins, nucleotides, and antibodies, offering unique health benefits to pets. In March 2023, the American Pet Products Association (APPA) reported that pet food and treat sales in the United States reached $58.1 billion in 2022, marking a substantial 39% increase from $42 billion in 2020. Projections for 2023 estimate sales to reach $62.7 billion in the U.S., further underscoring the escalating demand for high-quality pet food and consequently propelling the growth of the plasma feed market, with market sizes of 2023, 2024, and 2028 integral to this narrative.
Get A Free Sample Of The Global Plasma Feed Market ReportGlobal Plasma Feed Market Segments
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
By Geography:The regions covered in the plasma feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the plasma feed market in 2023. The regions covered in the plasma feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Plasma Feed Industry Players
Darling Ingredients Inc., Kraeber & Co. GmbH, Lauridsen Group Inc., Lican Food, Lihme Protein Solutions, Puretein Agri LLC, Rocky Mountain Biologicals, Veos Group, Eccofeed LLC, Feedworks Pty Ltd., SARIA Group, Sera Scandia A/S, Daka Denmark AS, Nutreco NV, APC Inc., Valley Proteins Inc., FASA Group, Octapharma AG, Terumo BCT Inc., Catalyst Pharmaceuticals Inc., ImmunoGen Inc., AdaptHealth Corporation, Johnson & Johnson, AstraZeneca plc, Amgen Inc., Allergan plc, China Biologic Products Holdings Inc., Grifols S.A, CSL Limited, The Lauridsen Group Inc.
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Plasma Feed Market Overview
Plasma feed is a type of animal feed that contains plasma protein as an ingredient. This is a highly digestible animal protein source that is used to improve feed palatability and gut health in various animal species.
Plasma Feed Global Market Report 2023 provides data on the global plasma feed market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The plasma feed market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.