MARKET OVERVIEW- ASIA-PACIFIC PLASMA POWDER MARKET
In its natural state, plasma is a fluid that is separated from the whole blood via a distinct procedure. Spray drying is used to further purify the liquid material into a powder under carefully regulated circumstances. The raw materials are obtained from various farming settlements and slaughterhouses around the world. This plasma powder has a number of physical and biological qualities, such as a good amino acid profile, immunoglobulins or antibodies that are beneficial to health, and great digestibility. These powders offer a high biological value, a 75% protein content, and the capacity to dissolve in water. During the forecast period, the plasma powder market is expected to expand at a rapid CAGR.
MARKET DRIVERS
The major factors influencing the plasma powder market in the Asia Pacific over the forecast period include government regulations and increasing pet adoption. The key players focus more on the creation of safe animal feed. Additionally, rising pet production activities and a significant rise in demand from pet manufacturers for the inclusion of innovative ingredients to improve pet health are predicted to propel the market for plasma powder during the forecast period. These factors, along with limited use of antibiotics and rising consumer concerns about the maintenance of overall health, are anticipated to augment growth. The minimal ingredients in pet diets, treats and snacks that may be made using plasma powder are expected to be healthier alternatives.
MARKET OPPORTUNITY
The growing support and initiatives from livestock and the food industry is expected to provide an ample opportunity for the market. Also, the growing pharmaceutical industry advancements such as personalised medicines, increasing drug sales, and an ageing population are expected to provide ample opportunity for the plasma powder market.
MARKET RESTRAINT
Variability in acceptance of blood-based products for livestock feed due to lack of awareness among consumers and high investment in refining technology at a commercial level will hamper plasma's powder market growth. Furthermore, the stringent regulatory framework for animal-based protein also hampers the plasma powder market.
MARKET GROWTH CHALLENGES
The Covid-19 pandemic hampered the growth of the market to a major extent, which has created major challenges for market growth. Also, the regulatory framework for animal-based protein is expected to hamper the market growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of the plasma powder market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. An increasing demand for plasma powder due to the rise in demand for high quality animal feed has led the increasing demand for the market and is expected to witness growth at a CAGR a specific CAGR from 2022-2028.
APAC PLASMA POWDER MARKET SEGMENTAL OVERVIEW
The plasma powder market comprises of different market segment like source, application and Country.
APAC 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. Utilizing bovine plasma is expected to reduce pollution risk and stop the loss of a priceless protein supply, leading to higher profits that support the market. Bovine plasma includes proteins and helps young calves' digestive health. It is frequently utilised in cow-feed products. Also, the demand for bovine plasma powder is increasing with a rise in the demand for immune-stimulating components from cattle feed producers because of lower cow productivity loss.
APAC PLASMA POWDER MARKET BY APPLICATION
By application, the plasma powder includes key segment of
Animal feed is expected to dominate the market over the forecast period. The animal feed segment is further sub-segmented into poultry, swine, aquafeed, pet food and ruminant feed. The growing demand for high-value nutritional animal feed creates revenue opportunities for the industry. Further, the presence of a large number of livestock in the region, will boost product demand for livestock food applications. An increase in demand for pork meat in some countries along with growing production of porcine meat in China is one of the major factors contributing to the increasing demand for protein source feed in the swine diet. Moreover, increasing government regulations restricting antimicrobial growth regulators in livestock feed are anticipated to drive the significant demand for plasma powder throughout the region.
APAC PLASMA POWDER MARKET BY COUNTRY
The APAC plasma powder market is studied for the following countries
China is anticipated to witness increasing demand for plasma powder owing to the presence of well -established market players. Also, rising demand for various livestock and dairy products is creating a need for the plasma powder. According to the Food and Agriculture Organization, reports that demand for livestock products has increased in the Asia Pacific. Further, an increased demand for pork and a rising number of slaughters in China and increasing demand for alternative protein sources in the animal feed industry boosts the market growth in China. The increasing consumption of pork and beef in the country is anticipated to increase the numbers of slaughters, which in turn improves market supply for plasma feed manufacturers.
COVID-19 IMPACT ANALYSIS ON APAC PLASMA POWDER MARKET
The outbreak of COVID in the plasma powder market caused distribution since it spread across the globe. COVID-19 impacted various sectors and industries. The Axiom MRC provides a 360 degree analysis of micro and macro-economic factors in the plasma powder market. In addition, in addition, complete analysis of changes in the plasma powder market expenditure, economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Likewise, the COVID-19 virus spread on one side has provided ample growth opportunity for the market with the rise in the livestock and food industry. And on the other hand, supply chain disruption has affected the market. In addition, growing demand for pet food has driven the APAC plasma powder market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of plasma powder market is certainly based range of market players operating in the market with increasing demand for production of animal feed. 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
- ACTIPRO
- Lican Food
- Cargill
- Darling Ingredients
- Rocky Mountain Biologicals
- SARIA Group
- APC inc
