MARKET OVERVIEW - GLOBAL PLASMA POWDER MARKET
Plasma powder is a highly palatable protein concentrate designed to add value to pet food formations. It is a high-quality protein-based binder that supports healthy nutrition and improves palatability. This is an excellent source of essential amino acids and has been found to be superior to other protein sources. Plasma powder is suitable for all kinds of pet food formulas and treats. It helps to increase the quality of each formula by ensuring a uniform desired texture, and increasing the protein content and palatability of chunks and pate. Additionally, plasma powder is utilized in the food sector as binders in bakeries, fat substitutes, meat and protein-enriched pasta. Also, it serves as a fat and protein replacement in meat products like sausages as well as an emulsifier in emulsified meat systems.
The rise in demand for innovative ingredients from pet manufacturers and increasing adoption of pets, are concerned about pet health. Additionally, in food achieving the correct texture, ingredient factors are the major concern in increasing pet food palatability, especially for cats. Furthermore, according to the Association of American Feed Control Officials, plasma is the portion of blood which has been separated away from the cellular matter. The protein portion of this plasma powder product is primarily albumin, globulin, and fibrinogen type protein. Also, increasing demand for high quality and protein feeds is fuelling the market demand. Moreover, a growing pharmaceutical industry along with increasing drug demand is expected to fuel the global plasma powder market.
The rising trends for pet adoption and increasing demand for high protein pet products, an increasing number of pet food manufacturers have explored the utilization of protein in addition to traditional animal protein to boost animal health. The plasma protein in pet food formulation specifically helps the formulation to increase the food palatability in a product. These are major factors expected to create ample opportunity for the plasma powder market.
Uncertainly, the acceptance of blood-based products for livestock feed due to lack of awareness among consumers, also high investment in refining technology at a commercial level will hamper the plasma powder market growth. Increased cost of raw material required for the final product is another factor hindering the growth of the market.
Market Growth Challenges
The market faces number of market growth challenge like stringent global regulatory framework for animal based protein in ruminant feed and low standard livestock production practices causing the disease outbreak can affect the plasma manufacturing to major extend. These are some of the major challenges which market is expected to witness.
Cumulative Growth Analysis
The report provides in-depth analysis of global plasma powder market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for plasma powder in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
GLOBAL PLASMA POWDER MARKET SEGMENTAL OVERVIEW
The global plasma powder market comprises of different market segment like source, application and geography.
GLOBAL PLASMA POWDER MARKET BY SOURCE
By source, the plasma powder includes key segment of
Bovine sourced plasma powder is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period. The key factor contributing to the segment growth is the increasing use of bovine in the food industry. Additionally, bovine plasma powder demand is increased by the cattle feed industry due to an increasing desire for immune-stimulating components to prevent animals from losing efficiency. Also, it is utilized in cattle-feed products as it has proteins which help to improve digestive function in young calves. On the other hand, the porcine plasma powder segment is growing as it helps the livestock to increase the weight of animals.
GLOBAL PLASMA POWDER MARKET BY APPLICATION
By application, the plasma powder includes key segment of
Animal feed is anticipated to lead the market, gaining the majority of the market share in 2021. Highly digestible protein or plasma proteins are becoming increasingly crucial in livestock farming as undigested protein in the gut of animals can cause bacterial fermentation and pathogen overgrowth. Additionally, high demand for animal derived food products like fish, eggs, meat and milk is creating an urgent need to provide more nourishment to animals, which fuel the demand for the plasma powder in animal feed. Moreover, the plasma powder helps to improve the overall performance and mortality of livestock which created demand for plasma powder.
GLOBAL PLASMA POWDER MARKET BY GEOGRAPHY
The plasma powder market is studied for the following region
- North America
North America to witness an increasing demand for animal wound care owing to the presence of well-established market players. Presence of a large number of pet owners in the country and growing trend among livestock farmer to seek out new alternatives to antimicrobial growth promoters wound aid growth. Increasing demand for spray dried animal plasma which is widely recognized as the important function and palatable ingredients in animal industry. Additionally, the unique benefits offered by the bovine and porcine source based plasma has certainly contributed healthy growth in the market. This featured is anticipated to drive the growth of the market in North America region during the estimated time period. Likewise, Asia-Pacific increasing demand for various livestock, dairy products has positively created demand for global plasma powder market
COVID-19 IMPACT ANALYSIS ON GLOBAL PLASMA POWDER MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global plasma powder market. In addition, complete analysis of changes on the global plasma powder market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global plasma powder market was more or less affected due to supply chain distribution, declining demand for plasma powder from various application which has certainly affected the market growth to major extend.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of plasma powder market is certainly based range of market players operating in the healthcare market with increasing demand for production of plasma powder market. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market are
- VEOS Group
- Merck KGaA
- Lican Food
- Darling Ingredients
- Rocky Mountain Biologicals
- SARIA Group
- APC inc
January 2022: Darling ingredient was announced acquisition with valley protein for US $1.1 bn in cash. This acquisition was aimed as valley protein will help to supplement darlings global supply of waste fat & greases.
September 2021: The Netherlands, Cargill animal nutrition announces its intention to form a strategic partnership with the family-owned animal nutrition company Fuite from the Netherlands. In order to construct an advanced premix, concentrate, and young animal nutrition production plant in Hasselt.
May 2021: Darling Ingredients and Rousselot brand announced the opening of an upgraded Brazilian innovation lab. To meet the demand for the best product applications, support in the pharmaceutical, dietary supplement and food markets, the upgraded lab will be put to use.
September 2019: The Proliant Biological announced acquisition with Boval Bio Solution from Lifecycle Biotechnologies. This acquisition will further strengthen proliant’s position as the industry leader in protein fractionation and albumin manufacturing.