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Plasma Powder Market Size
Plasma Powder Market size surpassed USD 2.9 billion in 2022 and is projected to exhibit a CAGR of 5% between 2023 and 2032.
The mounting demand for high-quality and protein-based animal feed due to escalating animal health concerns will propel the market demand. Meat and meat products have gained tremendous traction over recent years, attributed to a noticeable transformation in people's dietary habits and subsequent inclination toward food items with rich nutritional composition. According to the latest OECD estimates, the global meat supply is predicted to reach 377 Mt by 2031, accelerated by increasing consumer demand and consistent technological improvements in animal management and breeding practices.
The ongoing herd and fleet expansion across low- and middle-income countries have further resulted in several health issues among livestock animals, stimulating the acceptance of animal feed with high protein content. Besides, the growing consumer awareness about animal feed protein ingredients and their safety, quality, and suitability for future supplies will further drive the plasma powder market growth.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 2.9 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 4.8 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 235 |
| Tables, Charts & Figures: | 253 |
| Segments covered: | Source, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Availability of low-cost protein alternatives to downsize plasma powder demand
Plasma powder is a protein source whose low-cost substitutes are easily available in the market. Several plant-based alternative protein sources, such as chickpeas, soybeans, groundnut cake, sunflower, cotton seed, and cowpeas, are relatively more affordable than spray-dried plasma powder, therefore, find increasing usage across various end-use industries. These factors, in consequence, may hamper market performance over the next ten years. In addition, reforms in government policies & regulations pertaining to emission standards and climate change goals will also hinder the industry outlook.
Plasma Powder Market Analysis
With regard to the source, the plasma powder market share from the porcine segment is anticipated to grow at 4.5% CAGR through 2032, led by the recognizable rise in the production and export of pig meat globally, resulting in the expansion of the swine feed market. Besides, the widespread utilization of porcine plasma powder in intensive swine production to reduce fetal growth restriction (FGR) of weaners and increase average daily growth will further influence product sales through 2032.
Regarding the application, the plasma powder market size from animal feed application segment will be worth over USD 4 billion by 2032. Plasma powder is extensively utilized in animal feed products such as poultry feed, ruminant feed, swine feed, pet food, and aquafeed to boost health & performance in the critical growth phase. The rapid growth in livestock-rearing practices and the large-scale consumption of animal products will foster the market revenue. Besides, the increasing concerns for pet health & nutrition, coupled with the growing demand for seafood due to its high nutritional value.
The Asia Pacific plasma powder market is set to witness a 5.5% CAGR and attain a valuation of over USD 1.5 billion by 2032. Increasing awareness about animal nutrition and the subsequent growth in demand for animal feed products that boost immune response, improve animal growth rate, and provide a good source of protein will support the market expansion. Furthermore, growing consumer interest in high-quality protein-rich food products such as pasta, which are nutritionally dense with high amounts of protein & fiber, will fuel the industry demand.
Plasma Powder Market Share
Major companies operating in the market are
- Darling Ingredients (Sonac)
- VEOS
- Lican Food Rocky Mountain Biologicals
- Acontex GmBH
- Merck KGaA
- GRG Enviro Sound Solutions Pvt Ltd
- Kraeber & CO. GmBH
- Cargill
- Incorporated
- Animix LLC
- Shenzhen Taier
- FeedStimulants
- Uruguayan Animal Proteins
- Actipro
- APC
Companies in this business space have been focusing on expanding production capacity and adopting other growth measures, such as mergers and acquisitions, in a bid to strengthen their global foothold. For instance, in May 2021, Darling ingredients, in collaboration with Rousselot brand, inaugurated an upgraded Brazilian innovation lab to fulfill the needs for best product application support across pharmaceutical, nutrition, and food markets. Through this move, the company strategizes to accelerate its global lab network to offer innovation, application, and expertise formulations.
COVID-19 impact
The plasma powder industry suffered a significant setback during the COVID-19 pandemic mainly due to unanticipated halts in global trade and subsequent supply chain constraints. The meat demand that witnessed a noticeable upsurge during the initial days due to panic buying and stockpiling noticed a downward trend soon after due to declining economic growth and reduced buying capacity. Also, the sales of animal feed products plunged significantly due to limited expenditure on animal health and nutrition.
This plasma powder market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Source
- Porcine
- Bovine
- Others
Market, By Application
- Animal feed
- Poultry feed
- Swine feed
- Aquafeed
- Petfood
- Ruminant feed
- Others
- Food
- Other
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Spain
- Germany
- France
- Russia
- UK
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Australia
- Vietnam
- Indonesia
- Latin America
- Brazil
- Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
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