According to latest report, the global hemoglobin feed market reached value at US$ 217 Mn in 2020 and projected to hit around US$ 340 million by 2030. Rise in usage of hemoglobin powder as a replacement for fish meal is projected to drive the global hemoglobin feed market
The global hemoglobin feed market growth is expanding at a CAGR of 4.1% from 2021 to 2030. Hemoglobin feed is isolated by acquiring the red part of platelets of pigs. This feed is inferred by a warmth cycle, fractionation, and shower drying of pig blood. Hemoglobin feed contains high protein content and high protein edibility, with a low degree of fat and cinders. The feed is utilized as a protein hotspot for water feed, compound feed, mink feed, and pet food.
Increase in Usage of Hemoglobin Powder as Replacement of Fish Meal to Drive Hemoglobin Feed Market
The demand for fish meal has been increasing significantly in the animal production industry, which is projected to create a shortage in the near future. Hence, the shrimp feed industry has been exploring other protein sources. This has resulted in a surge in demand for hemoglobin powder. Hemoglobin powder is known to contain high protein and low lipids, which makes it the most preferred source for fish meal substitution. Furthermore, hemoglobin powder is considered to have high digestibility, along with high lysine and leucine content, which aids in meeting the protein requirements in shrimp feed.
Chicken hemoglobin powder is considered rich in nucleotides compared to porcine hemoglobin powder. The usage of this nucleotide rich hemoglobin powder in diets is known to enhance disease resistance, increase immunity levels, and enhance growth performance. These factors contribute to the growth of the global hemoglobin feed market.
Increase in Demand for Protein Rich Diet to Drive Hemoglobin Feed Market
Demand for animal meat and protein products in increasing. According to the Food and Agriculture Organization (FAO), 315 million tons of meat was consumed globally in 2014. Demand for beef has increased due to rise in population and surge in disposable income across the world. The FAO estimates that meat production in 2018 reached over 335 million tons. Meat production, including swine, beef, and poultry is anticipated to double by 2050, and dairy and fish production is expected to triple during the same period. Additionally, rise in urbanization is known to have a significant impact on the pattern of food consumption in general and on demand for livestock products in particular. This increase in demand for animal protein among humans creates a need of high protein feed for livestock, which, in turn, contributes to the growth of the global hemoglobin feed market.
Surge in Feed Production Propels Hemoglobin Feed Market
Feed production per year is estimated to be over 1 million tons. Additionally, feed production has witnessed significant growth in developing countries compared to developed regions. Moreover, manufactured feed for poultry account for major proportion of tonnage. Increase in feed production can be attributed to significant rise in demand for animal protein, owing to surge in human population and increase in affluence in emerging economies. Additionally, demand for feed is rising in the aquaculture sector, pet food industry, swine industry, and other animal production. This increase in feed production to meet the rise in demand in the industrial and commercial sectors fuels the growth of the hemoglobin feed market.
Rise in Spread of Diseases among Animals to Hamper Hemoglobin Feed Market
Globally, animal production has witnessed spread of infections consistently among animals, which has led to decrease in interest for animal meat and increased concerns related to the use of animal blood, which incorporates hemoglobin. For instance, the spread of frantic cow infection in cattle, also known as bovine-like spongiform encephalopathy, has resulted in decline in usage of animal feed. Recently, the spread of African swine fever has prompted extensive butchering of porcine and considered ill-suited for utilization. This has restricted the utilization of porcine hemoglobin in pig feed. However, it has applications in feed of different creatures. Significant spread of illnesses among animals could negatively affect the utilization of animal blood and prompt the use of substitute protein sources, which, in turn, is likely to hamper the growth of the global market.
In terms of source, the global hemoglobin feed market has been categorized into bovine, swine, poultry, shark, synthetic, and others. The swine segment dominated the global market accounting for a major share in 2019. The trend is projected to continue during the forecast period. It is anticipated to be a highly attractive segment from 2020 to 2030. The segment is driven by rise in usage of swine hemoglobin as a component of animal feed in post-weaning piglets, and in aquaculture, poultry farms, and pet food.
Based on application, the global hemoglobin feed market has been bifurcated into commercial and industrial. The commercial segment dominated the market, accounting for major share in 2019. The trend is expected to continue during the forecast period. It is likely to be a highly attractive segment from 2020 to 2030. The growth of the commercial segment can be attributed to rise in usage of pig and ox-like hemoglobin in different modern areas (food industry, biotechnology [cell culture], biochemical examinations, and immunology tests).
In terms of region, the Asia Pacific dominated the global hemoglobin feed market in 2020. China was the major market in the region. Rapid growth of the hemoglobin feed market in the region can be attributed to high production of plasma and hemoglobin powder in China. China is considered a significant producer and consumer of pig blood by-products including plasma and hemoglobin feed. The hemoglobin feed market in Asia Pacific is projected to expand at a high CAGR during the forecast period, owing to significant rise in meat and seafood consumption, which can be ascribed to increase in disposable income, rise in urbanization, and surge in population. Furthermore, significant quantity of porcine blood produced in butcher shops in China adds to the expanding volume of hemoglobin powder. However, the spread of African swine fever and COVID-19 pandemic could restrain the hemoglobin feed market.
Key players in the global hemoglobin feed market include Daka Denmark A/S (SARIA Group), Lauridsen Group, Inc., Sera Scandia A/S., Nutreco (SHV Holdings N.V.), Puretein Agri LLC, Kraeber & Co GmbH, Rocky Mountain Biologicals, Darling Ingredients, Inc., VEOS Group, Lihme Protein Solutions, EccoFeed LLC, and Feedworks Pty Ltd.
This report focuses on hemoglobin feed market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall hemoglobin feed market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global hemoglobin feed market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global hemoglobin feed market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the hemoglobin feed market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of hemoglobin feed are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global hemoglobin feed market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global hemoglobin feed market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global hemoglobin feed market.
The study objectives of this report are:
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