According to latest report, the global hemoglobin feed market reached value at US$ 217 Mn in 2020 and projected to hit around US$ 340 million by 2030. Rise in usage of hemoglobin powder as a replacement for fish meal is projected to drive the global hemoglobin feed market
According to latest report, the global hemoglobin feed market reached value at US$ 217 Mn in 2020 and projected to hit around US$ 340 million by 2030. Rise in usage of hemoglobin powder as a replacement for fish meal is projected to drive the global hemoglobin feed market
The global hemoglobin feed market growth is expanding at a CAGR of 4.1% from 2021 to 2030. Hemoglobin feed is isolated by acquiring the red part of platelets of pigs. This feed is inferred by a warmth cycle, fractionation, and shower drying of pig blood. Hemoglobin feed contains high protein content and high protein edibility, with a low degree of fat and cinders. The feed is utilized as a protein hotspot for water feed, compound feed, mink feed, and pet food.
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Increase in Usage of Hemoglobin Powder as Replacement of Fish Meal to Drive Hemoglobin Feed Market
The demand for fish meal has been increasing significantly in the animal production industry, which is projected to create a shortage in the near future. Hence, the shrimp feed industry has been exploring other protein sources. This has resulted in a surge in demand for hemoglobin powder. Hemoglobin powder is known to contain high protein and low lipids, which makes it the most preferred source for fish meal substitution. Furthermore, hemoglobin powder is considered to have high digestibility, along with high lysine and leucine content, which aids in meeting the protein requirements in shrimp feed.
Chicken hemoglobin powder is considered rich in nucleotides compared to porcine hemoglobin powder. The usage of this nucleotide rich hemoglobin powder in diets is known to enhance disease resistance, increase immunity levels, and enhance growth performance. These factors contribute to the growth of the global hemoglobin feed market.
Increase in Demand for Protein Rich Diet to Drive Hemoglobin Feed Market
Demand for animal meat and protein products in increasing. According to the Food and Agriculture Organization (FAO), 315 million tons of meat was consumed globally in 2014. Demand for beef has increased due to rise in population and surge in disposable income across the world. The FAO estimates that meat production in 2018 reached over 335 million tons. Meat production, including swine, beef, and poultry is anticipated to double by 2050, and dairy and fish production is expected to triple during the same period. Additionally, rise in urbanization is known to have a significant impact on the pattern of food consumption in general and on demand for livestock products in particular. This increase in demand for animal protein among humans creates a need of high protein feed for livestock, which, in turn, contributes to the growth of the global hemoglobin feed market.
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Surge in Feed Production Propels Hemoglobin Feed Market
Feed production per year is estimated to be over 1 million tons. Additionally, feed production has witnessed significant growth in developing countries compared to developed regions. Moreover, manufactured feed for poultry account for major proportion of tonnage. Increase in feed production can be attributed to significant rise in demand for animal protein, owing to surge in human population and increase in affluence in emerging economies. Additionally, demand for feed is rising in the aquaculture sector, pet food industry, swine industry, and other animal production. This increase in feed production to meet the rise in demand in the industrial and commercial sectors fuels the growth of the hemoglobin feed market.
Rise in Spread of Diseases among Animals to Hamper Hemoglobin Feed Market
Globally, animal production has witnessed spread of infections consistently among animals, which has led to decrease in interest for animal meat and increased concerns related to the use of animal blood, which incorporates hemoglobin. For instance, the spread of frantic cow infection in cattle, also known as bovine-like spongiform encephalopathy, has resulted in decline in usage of animal feed. Recently, the spread of African swine fever has prompted extensive butchering of porcine and considered ill-suited for utilization. This has restricted the utilization of porcine hemoglobin in pig feed. However, it has applications in feed of different creatures. Significant spread of illnesses among animals could negatively affect the utilization of animal blood and prompt the use of substitute protein sources, which, in turn, is likely to hamper the growth of the global market.
Report Highlights
In terms of source, the global hemoglobin feed market has been categorized into bovine, swine, poultry, shark, synthetic, and others. The swine segment dominated the global market accounting for a major share in 2019. The trend is projected to continue during the forecast period. It is anticipated to be a highly attractive segment from 2020 to 2030. The segment is driven by rise in usage of swine hemoglobin as a component of animal feed in post-weaning piglets, and in aquaculture, poultry farms, and pet food.
Based on application, the global hemoglobin feed market has been bifurcated into commercial and industrial. The commercial segment dominated the market, accounting for major share in 2019. The trend is expected to continue during the forecast period. It is likely to be a highly attractive segment from 2020 to 2030. The growth of the commercial segment can be attributed to rise in usage of pig and ox-like hemoglobin in different modern areas (food industry, biotechnology [cell culture], biochemical examinations, and immunology tests).
In terms of region, the Asia Pacific dominated the global hemoglobin feed market in 2020. China was the major market in the region. Rapid growth of the hemoglobin feed market in the region can be attributed to high production of plasma and hemoglobin powder in China. China is considered a significant producer and consumer of pig blood by-products including plasma and hemoglobin feed. The hemoglobin feed market in Asia Pacific is projected to expand at a high CAGR during the forecast period, owing to significant rise in meat and seafood consumption, which can be ascribed to increase in disposable income, rise in urbanization, and surge in population. Furthermore, significant quantity of porcine blood produced in butcher shops in China adds to the expanding volume of hemoglobin powder. However, the spread of African swine fever and COVID-19 pandemic could restrain the hemoglobin feed market.
Key Players
Key players in the global hemoglobin feed market include Daka Denmark A/S (SARIA Group), Lauridsen Group, Inc., Sera Scandia A/S., Nutreco (SHV Holdings N.V.), Puretein Agri LLC, Kraeber & Co GmbH, Rocky Mountain Biologicals, Darling Ingredients, Inc., VEOS Group, Lihme Protein Solutions, EccoFeed LLC, and Feedworks Pty Ltd.
Market Segmentation
By Source
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- Bovine
- Swine
- Poultry
- Shark
- Synthetic
- Others
By Application
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- Industrial
- Commercial
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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