Hemoglobin Feed Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Hemoglobin Feed Market was worth US$ 235.6 Mn and is expected to grow at a CAGR of 4.2% over the forecast period. The market is expected to hit US$ 327.4 Mn by 2030 end.
Hemoglobin meal has high protein edibility and protein content, with a low cinder and fat content. The feed is a protein source for compound feed, pet food, mink feed, and water feed.
What are the causes driving the rise in demand for Hemoglobin Feed?
The steady demand for animal protein is predicted to remain one of the important factors influencing the overall growth of the worldwide hemoglobin feed market in the coming years.
Efforts are being made to increase the quality of raw materials obtained from livestock, as a result of which demand for hemoglobin feed is predicted to rise. While price] remains one of the most important factors influencing consumer purchasing decisions, customers are also increasingly looking for animal products with health-promoting benefits.
Supplementation in feed is one of the most efficient and cost-effective strategies for achieving these aims. It is expected to favor the market’s growth for hemoglobin feed throughout the forecast period.
What are the opportunities in the Hemoglobin Feed Market?
During the evaluation period, the increased interest in substituting a fish meal with hemoglobin powder is projected to present significant opportunities to stakeholders in the current hemoglobin feed industry.
Consumer awareness of the quality of animal proteins will expand significantly due to the introduction of several digital and non-digital channels, and livestock producers will increasingly focus on enhancing livestock quality.
During the assessment period, the global hemoglobin feed market is predicted to grow because of increased financial and regulatory assistance from the government and government-supported corporate organizations.
The advent of the COVID-19 pandemic is expected to influence hemoglobin feed demand in 2020 directly. Due to severe lockdown measures, transit limitations, and large cross-border trade hurdles, the global market for hemoglobin feed dropped dramatically in the first three quarters of 2020.
Increased consumer awareness about the relationship between meat-eating and COVID-19 infection, particularly in the second quarter of 2020, has resulted in a significant drop in meat consumption across numerous regions worldwide.
Why is Swine Hemoglobin Feed expected to hold the biggest market share?
In 2020, the swine segment held the biggest market share of the worldwide hemoglobin feed market because of the increased use of swine hemoglobin as a component of animal feed in aquaculture, as well as in post-weaning piglets pet food, and poultry farms. The tendency is predicted to continue even in the forecast years.
Which application is likely to grow the most rapidly throughout the forecast period?
Over the projection period, commercial applications are expected to have the biggest market share because of the increased usage of pig and ox-like hemoglobin in various modern fields such as the food industry, biochemical examinations, biotechnology, and immunology testing.
Why is the Asia Pacific region cementing its global dominance in the Hemoglobin Feed Market?
In 2020, Asia Pacific held the greatest market share of the worldwide hemoglobin feed market. Over the predicted period, it is expected to be the dominant region.
Government activities in emerging economies to modernize healthcare facilities and raise knowledge of hemoglobin feed are important drivers driving the growth of the Asia Pacific hemoglobin feed market.
Which country has promising opportunities in the Asia-Pacific Hemoglobin Feed Market?
China is the region’s top revenue generator. The rapid expansion of hemoglobin feed in Asia can be attributed to China’s high supply of hemoglobin powder and plasma. China is the world’s largest user and producer of pig blood byproducts such as hemoglobin feed and plasma.
The global hemoglobin feed market is extremely fragmented, with several international and regional companies. Major players have increased their geographical reach by acquiring or combining with overseas manufacturers.
The global hemoglobin feed market’s key players involve regulatory clearances, technologically enhanced goods, new product launches, and acquisition and collaborative agreements with other companies. These efforts are intended to solve unfulfilled demands in the hemoglobin feed industry, strengthen product portfolios, and invest in R&D.
Some of the key developments that have taken place in the Hemoglobin Feed Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Hemoglobin Feed Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Source, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
In the forecast period between 2022 and 2030, the market is expected to grow at a CAGR of 4.2%.
The steady growth in demand for animal protein is predicted to remain one of the important factors influencing the overall development of the worldwide hemoglobin feed market in the coming years.
Major global Hemoglobin Feed Market players are Daka Denmark, Lauridsen Group Inc., Sera Scandia, Nutreco, Puretein Agri LLC, Kraeber & Co GmbH, Rocky Mountain Biologicals, Darling Ingredients, Inc., VEOS Group, Lihme Protein Solutions, EccoFeed LLC and Feed works Pty Ltd.
The constant spread of illnesses among animals has resulted in a drop in interest in animal meat and increasing worries about using animal blood, which contains hemoglobin.
The Asia Pacific region is expected to account for the largest share of market revenue in the Global Hemoglobin Feed market
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