Global Plasma Feed Market Report 2024: Market Insights And Future Outlook
Plasma Feed Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Plasma Feed Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The global plasma feed market is projected to grow from $2.41 billion in 2023 to $2.61 billion in 2024, at a compound annual growth rate (CAGR) of 8.3%. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. This growth follows a strong historical trend driven by increased demand for animal protein, improvements in feed efficiency, the nutrient-rich composition of plasma, and regulatory approvals and compliance.
Increased Production of Aquatic Animals Fuels Market Expansion
The global rise in the production of aquatic animals is a significant driver of the plasma feed market's growth. Plasma feed is utilized in aquaculture to enhance the growth, health, and performance of aquatic species. According to the Food and Agriculture Organization (FAO), global production of aquatic animals increased by 1.2% in 2022 and is projected to grow an additional 0.6% in 2023, highlighting the expanding demand for plasma feed in this sector.
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Key Players and Market Trends
Major players such as Darling Ingredients Inc. and Kraeber & Co. GmbH are advancing the market through innovation in feed products. Notably, APC Inc. introduced three new hydrolyzed protein products Pepteiva, Peptein, and Cravings—in November 2021. These products are designed to improve animal nutrition and reduce environmental impact, showcasing the trend towards product innovation in the plasma feed market.
Technological Innovations and Customization Drive Market Trends
The market is witnessing a surge in customization for different animal species and technological innovations in feed formulations. This includes advancements in plasma protein functionality and expansion into premium pet food markets. Research into gut health and consumer demand for ethical sourcing further propel market growth.
Segments:
• Source: Porcine, Bovine, Other Sources
• Sales Channel: Online, Offline
• Application: Swine Feed, Pet Food, Aquafeed, Other Applications
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the plasma feed market in 2023 and is expected to maintain its leading position due to rapid growth in aquaculture and animal feed trade. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Plasma Feed Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Plasma Feed Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on plasma feed market size, plasma feed market drivers and trends, plasma feed market major players, competitors' revenues, market positioning, and market growth across geographies. The plasma feed market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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