The blood meal market is estimated to be valued at USD 1.8 billion in 2019 and is projected to reach USD 2.1 billion by 2025, recording a CAGR of 3.0% during the forecast period. The increasing consumption of livestock-based products, feed production, and standardization of meat products due to disease outbreaks, and implementation of innovative animal husbandry practices to improve the meat quality have led to high demand for blood meal.
Key players in the blood meal market include Darling Ingredients (US), Terramar (Chile), West Coast Reduction (Canada), Valley Proteins, Inc. (US), and Ridley Corporation (Australia). Market leaders such as Darling Ingredients (US) are focusing on tapping the potential markets through acquisitions.
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Darling Ingredients (US) is one of the major players in the blood meal market. It serves various applications including food, health & pharma, feed, pet food, fuel, bioenergy, and fertilizers. The company has its presence across North America, Europe, the Asia Pacific, and South America. The company offers blood meal products, which is mainly used as feed grade animal protein. In 2018, Darling Ingredients completed the acquisition of Kruger Commodities, Inc. (US), which helped the company to expand its production business for protein blending operations and cooking oil collecting business.
Terramar (Chile) is one of the leading players in the blood meal market. It provides blood meal sourced from poultry. The company manufactures blood meal using the spray drying system, which is the most preferred system for the manufacturing of blood meal. It is also used as feed additive for animals other than farm animals that are bred for food production. The company has a strong foothold in the Chile blood meal market and the entire South American market. In addition, the company has its presence in Europe, the Asia Pacific, and the US.
Blood Meal Market by Source (Poultry, Porcine, and Ruminant), Application (Poultry Feed, Porcine Feed, Ruminant Feed, and Aquafeed), Process (Solar Drying, Drum Drying, Ring & Flash Drying, and Spray Drying), and Region - Global Forecast to 2025
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