MARKET OVERVIEW- UNITED STATES 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.
MARKET DRIVERS
Rising consumer awareness about the safety of animal products coupled with a growing number of diseases in animals is the major factor contributing to the increasing demand for plasma powder in the animal feed industry. Further, increasing demand for food and animal-feeding protein products. Plasma powder improves the quality of food formulation by assuring the proper consistency and protein content. Also, the increasing focus of key companies on the development of safe and nutritious animal feed is a vital factor that will drive the market. Moreover, limited use of antibiotics and rising concern about the maintenance of overall health among consumers are anticipated to drive the plasma powder market.
MARKET OPPORTUNITY
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.
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 uncertainty about 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, a stringent global regulatory framework for animal based protein in ruminant feed and low standard livestock production practices causing the disease outbreak can affect plasma manufacturing to a major extent. These are some of the major challenges which the market is expected to witness.
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. With the growing awareness of the health benefits of protein for animal health, it is expected to witness a growth at a specific CAGR of 5% from 2022-2028.
UNITED STATES PLASMA POWDER MARKET SEGMENTAL OVERVIEW
The plasma powder market comprises of different market segment like source and application
UNITED STATES PLASMA POWDER MARKET BY SOURCE
By source, the plasma powder includes key segment of
Bovine sourced plasma powder is anticipated to lead the market. 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.
UNITED STATES 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, 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. Plasma powder is a highly digestible animal protein source used to improve feeding palatability and gut health. 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 in animal feed.
COVID-19 IMPACT ANALYSIS ON UNITED STATES 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 the plasma powder market is certainly based on a range of market players operating in the healthcare market with increasing demand for production of the plasma powder market. Besides, a number of market players offered a wide range of products for different applications 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
RECENT DEVELOPMENT
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.
May 2021: In order to promote intestinal health, Solid Gold launched NutrientBoost, a new line of meal toppers and dog and cat food formulas. The solutions contain a natural liquid ingredient called plasma that strengthens the immune system and enhances gut health.
