The North America blood meal market 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. Blood meal is defined as a dried form of animal blood which is collected from slaughtering of several livestock species such as cattle, pigs, chickens, and others under specific conditions.
New York, July 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Blood Meal Market to 2027- Covid-19 Impact and Regional Analysis by Source ; Application, Process, and Country" - https://www.reportlinker.com/p05934828/?utm_source=GNW
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.
Based on Source, the North America blood meal market has been segmented into porcine blood, poultry blood and ruminant blood.The poultry blood segment dominated the blood meal market in 2018 and is projected to grow at a faster pace over the forecast period.
However, the porcine blood segment is expected to grow at a rapid pace during forecast period.Some of the industries are offering glutaraldehyde-stabilized freshly prepared pig red blood cells for research or other purposes.
Porcine blood, which is also known as pig blood or swine blood, encapsulates many of the similar characteristics of human blood and is quite a useful animal model in many areas of research.Poultry blood is collected from chicken mainly for two purposes, such as to obtain serum, which can be tested for various disease virus antibodies, no anticoagulant is required in this process, and the blood is allowed to clot.
Ruminant blood is collected mainly from a cow. Fresh and whole blood is collected from slaughterhouses, then coagulated, and finally steam dried, which is often referred to as animal protein transformed from the blood. The demand for a ruminant blood meal is increasing among the animal farmers since they are quite concerned about the healthy yield of the ruminants and others. Also, the rising demand for nutritious meat products among the consumers globally is further influencing the ruminant blood meal market
Geographically, the North America blood meal market is segmented into US, Canada and Mexico.US is considered as a major market for blood meal due to the flourished food and beverage industry.
The rapid rise in population expansion along with increased urbanization and focus towards improved quality of life in has led to increased demand for food products at an unprecedented pace in the last few decades.The livestock industry plays a most crucial role in meeting out the growing demand.
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.The rises in disposable income of consumers have motivated to look forward healthy feed ingredients, which are expected to boost the growth of the market.
US is an attractive market where the production and consumption of blood meal is high. Also, the region is dominated by the presence of a number of manufacturers who are focused upon devising better strategies to enhance 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 major players operating in the North America blood meal market.
Wuhan (China) is the city in which the outbreak of covid-19 initially started in in December 2019.Since then, it has spread at a fast pace across the world.
China, Italy, Iran, Spain, republic of Korea, France, Germany, and the US are some of the worst affected countries in terms confirmed cases and reported deaths.Due to the outbreak of covid-19, there has been a severe downfall in the revenue of different industries.
Lockdowns, travel bans, and business shutdowns have drained the amount of money available with the people and companies, which in turn has restrained the economic flow in the market.The food and beverage industry shutdown and supply chain disruptions due to the lockdown of countries have curbed the supplies of food and beverage products worldwide.
Decrease in the out-of-home consumption has impacted the food and beverage industry figures adversely. If we go through the data, 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 in the North America region.
The overall North America blood meal market size has been derived in accordance to both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America blood meal market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America blood meal market.
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