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Introduction

• The blood meal market has witnessed steady growth in recent years, with projections indicating an increase from $1.98 billion in 2023 to $2.06 billion in 2024, boasting a compound annual growth rate (CAGR) of 3.9%.
• This growth is attributed to factors such as the expansion of the animal feed industry, rising meat and poultry production, and the effective utilization of blood meal as a nutrient source and waste product in abattoirs.

Projected Growth and Market Dynamics

• Expectations for continued growth foresee a market size of $2.37 billion by 2028, with a CAGR of 3.6%.
• Driving forces include the growing aquaculture industry, expansion of insect farming, global population growth, and increased application in biomedical research.
• Key trends in the forecast period encompass technological advancements in processing, research and development in animal nutrition, and the emergence of blood meal-based biostimulants.

Surging Demand for Animal Meat

• The escalating demand for animal meat serves as a primary driver for market growth.
• Blood meal, a by-product of animal slaughter, is utilized as a high-protein dietary supplement for livestock, aiding in meat and poultry production.
• Real-world data from the Agricultural Outlook 2022–2031 underscores the rising consumption of edible fish and poultry meat, driving the need for supplementary feed additives like blood meal.

Innovations in Product Development

• Market leaders are focusing on developing innovative products, such as pilot spray dryers, to gain a competitive edge.
• Pilot spray dryers enable the production of powdered or granulated materials from liquid feedstocks, catering to various food applications.
• For instance, RELCO LLC’s Parvus pilot spray dryer offers flexibility, scalability, and ease of setup, addressing emerging opportunities in markets like plant protein and fermentation.

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Strategic Acquisitions and Market Expansion

• Strategic acquisitions, like Darling Ingredients’ acquisition of Fasa Group in May 2022, strengthen market players’ positions and expand their geographical presence.
• This acquisition facilitated Darling Ingredients’ entry into new markets and enhanced its product offerings in the blood meal segment.
• Fasa Group’s expertise in producing sustainable ingredients for animal feed aligns with Darling Ingredients’ strategic objectives.

Market Segmentation

• The blood meal market is segmented by source, process, and application.
• Sources include porcine blood, poultry blood, and ruminant blood, catering to diverse industry needs.
• Processes encompass solar drying, drum drying, ring and flash drying, and spray drying, offering various production methods.
• Applications target sectors such as animal feed, agriculture, and other specialized uses, reflecting the versatility of blood meal products.

Regional Outlook

• North America dominated the blood meal market in 2023, driven by robust meat and poultry production.
• Asia-Pacific is poised to emerge as the fastest-growing region, fueled by increasing demand for animal feed additives and agricultural applications.

Conclusion

• The blood meal market’s trajectory underscores its pivotal role in supporting animal agriculture and sustainable waste utilization.
• With innovations in product development, strategic acquisitions, and market expansion, industry players are poised to meet evolving consumer demands.
• As global population growth accelerates and the need for nutritious and sustainable food sources intensifies, blood meal products stand at the forefront of promoting animal health, productivity, and environmental sustainability.

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The Blood Meal Global Market Report 2024  provides an overview of the blood meal market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The blood meal market forecast analyzes blood meal market size, blood meal market share, leading competitor and their market positions.

The Table Of Content For The Blood Meal Market Include:
1. Blood Meal Market Executive Summary
2. Blood Meal Market Segments
3. Blood Meal Market Size And Blood Meal Market Growth Rate
4. Key Blood Meal Market Trends
5. Major Blood Meal Market Drivers
……
25. Key Mergers And Acquisitions In The Blood Meal Market
26. Top Blood Meal Companies
27. Blood Meal Market Opportunities And Strategies
28. Blood Meal Market, Conclusions And Recommendations
29. Appendix

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