Report : North America Blood Meal Market to 2027- Covid-19 Impact and Regional Analysis by Source (Porcine Blood, Poultry Blood, and Ruminant Blood); Application (Porcine Feed, Poultry Feed, Ruminant Feed, Aqua Feed, Others), Process (Solar Drying, Drum Drying, Ring and Flash Drying, and Spray Drying), and Country
Rise in consumption of animal-derived productsto drive North AmericaBlood Mealmarket at CAGR of 4.1%
According to the latest study on “North AmericaBlood Meal Market Forecast to 2027 – Covid-19 Impact and Analysis- by Source (Porcine Blood, Poultry Blood, and Ruminant Blood); Application (Porcine Feed, Poultry Feed, Ruminant Feed, Aqua Feed, Others), Process (Solar Drying, Drum Drying, Ring and Flash Drying, and Spray Drying), and Country,”The North AmericaBlood Mealmarket is accounted to US$ 404.36Mn in 2018 and is expected to grow at a CAGR of 4.1%during 2019–2027, to account to US$ 576.13Mn by 2027. The report provides understanding on the key driving factors pertaining to the market growth and highlights the prominent players in the market along with their developments.
Blood meal is defined dried form of animal blood which is collected from slaughtering of several livestock species such as cattle, pigs, chickens, and others under specific conditions. Blood meal is considered as rich source of protein, iron and nitrogen and is used to supplement feed diets based on cereal grains, remains of plants and forages. Blood meal serves an advantage over plant-based protein and other feed ingredients owing to their rich nutritional profile and cost effectiveness. Apart from their use in feed industry, blood meal also finds application as natural and organic fertilizer to promote plant growth. Therefore, with the surge in demand for healthy feed products coupled with increase focused towards environment sustainability and crop protection, the market for blood meal is expected to rise over the forecast period.
The market for blood meal in North America is witnessing growth owing to the presence of several domestic and multinational companies that already have a strong foothold in the North American countries like the U.S. and Canada. The rise in demand for protein-rich feed additives has fueled the demand for products like blood meal. Increase in population along with growing demand for animal-based products such as eggs, meat and other products. Moreover, the rise in demand for natural and organic food products is also driving the demand for blood meal in North America market. The companies are continuously enhancing the overall business processes to meet the customers' demand for high-quality products and services in the best possible way. The United States is one of the major countries dominating the blood meal market in North America. The United States has is one of the largest market in the region where consumers are looking for protein-rich and nutritious animal food products. The production and consumption of blood meal is increasing in United States owing to growing demand for healthy food options along with growing focus towards organic product among population.
Recently, the World Health Organization (WHO) has announced the outbreak of COVID-19, the novel form of a disease caused by the virus SARS-CoV-2, as a pandemic. This outbreak started in December 2019 in Wuhan, China, and later, it turned into pandemic, causing thousands of deaths worldwide.The outbreak of COVID-19 pandemic has severely impacted the food and beverageindustry. Shutdowns of food & beverage and other industries along with the supply chain disruptions due to lockdown of countries has created a strain on the supplies of food and beverage products.The consequence and impact can be even worse and totally depends on the spread of the virus. In North America, U.S has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the food and poultry feed industry in the region as, due to the COVID-19 outbreak, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.
Allanasons Pvt. Ltd., APC Company, Inc., Apelsa Guadalajara, SA de CV., DAR PRO Ingredients, Ridley Corporation Limited, Sanimax, Terramar Chile SpA, The Boyer Valley Company, Inc., Valley Proteins, Inc. and FASA Group are among the well-established players present in the North AmericaBlood Mealmarket.
The report includes the segmentation of the North AmericaBlood Meal market as follows:
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