According to the research report titled ‘Blood Meal Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Source; Application; Process ; and Geography’, available with Market Study Report, global blood meal market was worth USD 1,825.9 million in the year 2018 and is expected to grow with a CAGR of 3.4% during the forecast period, hence amassing USD 2,451.6 million by the year 2027.
 

Increasing awareness pertaining to advantages of animal-based protein over plant protein owing to cost effective nature and high nutritional profile of the former is a major factor driving the blood meal market growth. Escalating demand for healthy feed products along with focus towards crop protection and environment sustainability are also aiding the market expansion.
 

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For those unfamiliar, blood meal is a dried animal blood which is collected during slaughtering of various livestock species such chickens, pigs, and cattle under controlled environment. It is a rich source of nitrogen, iron, and protein and is extensively used as a supplement with feed diets based on forage, plant remains, and cereal grains. Blood meal is widely adopted as organic and natural fertilizer as well.
 

Based on application spectrum, poultry segment accounted for substantial market share in 2018 and is expected to showcase similar growth trends in the ensuing years. On the other hand, aqua feed segment is expected to witness highest growth rate during the study duration. Growing worldwide population and consumer preference for seafood are fueling the segmental share.
 

Increasing aqua culture practices have impelled the demand for highly nutritious feed. Leading companies are focusing on offering balanced, innovative, and scientifically formulated nutritional products which in turn is facilitating the growth of the segment.
 

As per regional point of view, Asia-Pacific dominated global blood meal market in 2018, followed by North America. In fact, Asia-Pacific is poised to record a high CAGR through 2027, with China being the major contributor. Surging demand for meat, egg, and poultry products along with rising adoption of blood meal in organic fertilizers in order to promote crop growth as well as to control pests is favoring the market outlook in the region. Collective inclination towards healthy lifestyle has augmented the regional demand for animal-based products, which in turn is swaying the business dynamics in Asia-Pacific.
 

Key participants in global blood meal market are Valley Proteins Inc., FASA Group LLC, The Boyer Valley Company Inc., Terramar Chile S.p.A., Sanimax Industries Inc., Ridley Corporation Limited, DAR PRO Ingredients, APC Company Inc., and Allanasons Pvt. Ltd. among others.