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Blood Meal Market Size

Report ID: GMI8108
Published Date: Feb 2024
Report Format: PDF

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Blood Meal Market Size

Blood Meal Market was valued at around USD 1.2 billion in 2023 and is anticipated to register a CAGR of over 3.6% between 2024 and 2032. The increasing demand for protein-rich animal feed, particularly in the livestock and aquaculture sectors, propels the growth of the industry.

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As a valuable source of protein, essential amino acids, and nutrients, blood meal is sought after for its ability to enhance the nutritional content of animal feed formulations. Additionally, the rising awareness and adoption of organic farming practices contribute to the demand for blood meal as an organic fertilizer, promoting soil fertility and sustainable agriculture. Furthermore, the expanding pet food industry, with a focus on high-quality and nutritionally balanced pet diets, is also fueling the demand for blood meal as an ingredient in premium pet food formulations. These factors collectively underscore the multifaceted demand drivers supporting the growth of the blood meal industry across various industries. Thus, the market is expected to attain a market value of over USD 1.7 billion by 2032.

Blood Meal Market Report Attributes
Report Attribute	Details
Base Year:	2023
Blood Meal Market Size in 2023:	USD 1.2 billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	3.6%
2032 Value Projection:	USD 1.7 billion
Historical Data for:	2018 - 2023
No. of Pages:	300
Tables, Charts & Figures:	230
Segments covered:	Source, Application, Process
Growth Drivers:	Rising Demand in Animal Feed Industry Increasing Awareness of Organic Fertilizers Expanding Pet Food Industry
Pitfalls & Challenges:	Regulatory and Cultural Challenges

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The use of blood meal in various applications, especially in animal feed and fertilizers, may face regulatory scrutiny and cultural resistance. Concerns related to the safety of using animal-derived products, ethical considerations, and cultural preferences may pose challenges to market growth. Adherence to strict regulations and effective communication addressing consumer concerns becomes crucial in navigating potential pitfalls.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for blood meal reached around USD 1 billion in 2023 and is projected to expand at over 3.6% CAGR between 2024 and 2032 attributed to the increasing demand for protein-rich animal feed, particularly in the livestock and aquaculture sectors.

Poultry blood meal industry generated USD 0.75 billion in 2023 and is projected to witness high demand owing to its higher protein content, particularly lysine, an essential amino acid crucial for animal growth and development.

North America industry for blood meal accounted for USD 0.43 billion in revenue in 2023 and is estimated to expand at a notable CAGR through 2032 owing to the region's expanding livestock and poultry industries, coupled with a growing demand for high-protein animal feed.

Some of the leading manufacturers engaged in the blood meal industry are Barentz, Bio-Nutrition, BVC Ingredients, Darling Ingredients, Dinnissen BV, Gea Farm Technologies, GNT Group, Grenada Beef, Hamlet Protein, Moy Park, NexGen Bioproducts, PBFS, Sanimax Group, Schroeder Industries.