North America Plasma Powder Market Report

North America Plasma Powder Market Report, By Source (Bovine, Porcine), Application (Food, Animal Feed {Poultry Feed, Swine, Aquafeed, Pet Food, & Ruminant Feed}) and Country – North America Market Share, Trend Analysis & Forecast , 2019 - 2028

Report Code : 11449 | Publish Date : September 2022 | Industry : Food_Beverage | Geography : North America


MARKET OVERVIEW-  NORTH AMERICA PLASMA POWDER MARKET

Plasma powder is a highly palatable protein concentrate designed to add value to pet food formulations. Plasma powder can increase livestock performance and mortality. Cattle industry are becoming more and more important in cattle industry as undigested protein in an animal’s gut can lead to bacterial fermentation and pathogen overgrowth. Plasma powder contain antibodies and other bioactive substance in the product which promote mucosal protection against bacterial and viral infections. By ensuring the homogeneous required texture, raising the protein content, and improving the palatability of chunks and pate, plasma powder contributes to the quality of each formula. Plasma powder find it application into food and animal feed industry, it is used as binders in bakeries, meat and protein-enriched pasta.

MARKET DRIVERS

A significant driver driving the plasma powder market throughout the forecast period is the increase in government control over antimicrobial growth promoters in the country. The use of plasma powder in bovine feeding activities has demonstrates a number of advantages including greater growth, fewer scour days, better faecal scores, less dehydration and decreased mortality. Besides, expanding pet manufacturing activities and a sharp increase in demand from pet manufacturers for the introduction of advanced ingredients to improve pet health. Furthermore, the plasma powders are expected to offer a wholesome alternative for the preparation of wet pet feeds, treats, and snacks with few ingredients. 

MARKET OPPORTUNITY

Increasing pet humanization is expected to provide ample opportunity for North America plasma powder market. Growing consumer demand for pet food with high nutritional value is encourage the business expansion. Further, increasing pet adoption with growing concern for pet health have driven the demand for pet feed, which in turn create an opportunity for the plasma powder market

MARKET RESTRAINT

Although there are cheaper alternatives available, and the lack of knowledge among farming communities in poor and undeveloped countries is a significant barrier to the growth of the plasma powder market. Furthermore, the market is severely hampered by factors including the uncertainly in the adoption of blood-based feed products for cattle and the high cost of commercial scale technical refinement. 

MARKET GROWTH CHALLENGES

The Covid-19 pandemic hampered the growth of the market to a major extent, which has created a major challenge for market growth. Also, the stringent regulatory framework for animal based protein in ruminant feed can affect the plasma manufacturing to major extend. This are some of the major challenges which market is expected to witness

CUMULATIVE GROWTH ANALYSIS

The report provides in-depth analysis of 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 rising demand for plasma powder in various application is expected to witness the growth at a specific CAGR of 5% from 2022-2028.

NORTH AMERICA PLASMA POWDER MARKET SEGMENTAL OVERVIEW

The plasma powder market comprises of different market segment like source, application and Country. 

NORTH AMERICA PLASMA POWDER MARKET BY SOURCE

By source, the plasma powder includes key segment of 

  • Bovine
  • Porcine

Bovine is expected to dominate the market over the forecast period. The key factor contributing to the growth of segment are growing support and initiatives from livestock, the food industry and the change in the diet patterns. Bovine plasma powder is utilized in human diet. Furthermore, due to increasing desire for immune-stimulating components to prevent animal from losing efficiency, which is created demand for bovine plasma powder in cattle feed industry.

NORTH AMERICA PLASMA POWDER MARKET BY APPLICATION

By application, the plasma powder includes key segment of 

  • Food
  • Animal Feed

Animal feed 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. Animal feed further include poultry feed, wine feed, aquafeed, pet food and ruminant feed. Pet food segment dominate the animal feed market, owing to the presence of large number of pet owners in the region. United-States has the most pet population, which has increase the high-quality pet food sale. For instance, according to the American Pet Product Association, pet owners annual expenditure on pet has increased from USD 72.56 billion in 2018 to USD 75.38 billion in 2019. Further, the growing concern among farmers for their livestock health which is rising demand for various high quality food, requirement for nutritional content in food, all these factors are contributing the growth of animal feed segment. Furthermore, food segment is likely to contribute health growth in the market during the forecast period.

NORTH AMERICA PLASMA POWDER MARKET BY COUNTRY

The plasma powder market is studied for the following region

  • United States
  • Canada
  • Mexico

The United States is anticipated to witness an increasing demand for plasma powder owing to the presence of well-established market players. Growing consumer demand for pet food with high nutritional value is expected to expand expansion. Also, growing pet adoptions along with the growing concern for pet health have driven the high demand for pet feed. The benefit offered by the bovine and porcine source based plasma has positively contributed healthy growth in the market. 

COVID-19 IMPACT ANALYSIS ON NORTH AMERICA PLASMA POWDER MARKET

The outbreak of the COVID-19 virus has become a global healthcare emergency that has been spread worldwide, affecting worldwide social and economic development. The COVID-19 pandemic shut-down the production of products in various industries, mainly owing to the lockdown in major countries. The COVID-19 impact analysis report by Axiom MRC provided a 360 degree analysis of micro and macro-economic factors in the plasma powder market. Due to COVID-19, the plasma powder market observed a setback in growth, owing to the disruption of the supply chain. Also, declining demand for plasma powder from various applications which has affected the market growth to major extent.

COMPETITIVE LANDSCAPE ANALYSIS

The competitive landscape analysis of plasma powder market is majorly focused on expanding the global growth of plasma powder with new product innovation, business expansion, increasing presence of range of manufacturer operating in the market has led the growing demand for the market.  Besides, the market offers range of products to fulfil the required demand of consumer which is further contributing healthy growth in the market.  

The key players studied in market are 

  • VEOS Group
  • Merck KGaA
  • ACTIPRO
  • Lican Food
  • Cargill
  • Darling Ingredients
  • Rocky Mountain Biologicals
  • SARIA Group
  • APC inc

RECENT DVELOPEMENT

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. 

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.  

NORTH AMERICA PLASMA POWDERMARKET SUMMARY

By source, the plasma powder market includes key segments of bovine and porcine. The bovine source is expected to dominate the market over the forecast period. By application, the plasma powder market is segmented into food and animal feed. The animal feed segment accounted for the largest share in the plasma powder market. Furthermore, animal feed segment sub-segmented into, poultry feed, swine, aquafeed, pet food and ruminant feed. The North American plasma powder market is studied by key countries such as the United States, Canada, and Mexico.

SCOPE OF THE REPORT:

Market Sizing for Year:
2019-2028
Base Year:
2021
Forecast Period:
2022-2028
Value:
USD million
Market Segment studied:

Source

Application

Country
Market Players and its Competitors:

VEOS Group

Merck KGaA

ACTIPRO

Lican Food

Cargill

Darling Ingredients

Rocky Mountain Biologicals

SARIA Group

APC inc

FREQUENTLY ASKED QUESTIONS

What are the drivers for North America plasma powder market?

The key driving factors of the market are increasing adoption of pet, concern for pet health and rise in demand for innovative ingredients from pet food manufacturers.

Which is the leading application segment for plasma powder market?

Animal feed has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.

Which countries is gaining majority of market share during the forecast period (2022-2028)?

United States is expected to gain major market share during the forecast period (2022-2028).