The global plasma powder market is expected to grow primarily due to the growing use of bovine-source blood plasma. Porcine sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031.
NEW YORK, May 9, 2023 /PRNewswire/ -- Global Plasma Powder Market Forecast Analysis:
As per the report published by Research Dive, the global plasma powder market is expected to register a revenue of $4,249.2 million by 2031 at a CAGR of 4.9% during the forecast period 2022-2031.
Segments of the Plasma Powder Market
The report has divided the plasma powder market into the following segments:
- Application: pet food (dog and cat), pig feed, poultry feed, aqua feed (fish and shrimp), ruminant feed, human food, and others
- Pet Food- Dominant market share by 2031
Increasing use of spray-dried plasma powder and high-digestible proteins as pet foods is anticipated to augment the growth of this sub-segment by 2031. - Source: porcine, bovine, ovine, and others
- Porcine - High CAGR by 2031
Spray-dried porcine plasma powder has become highly popular as it contains functional bioactive components such as immunoglobulins, transferrin, growth factors, peptides. This growth in popularity of porcine plasma powder is expected to push the growth of this sub-segment in the forecast period. - Form: dry and wet
- Dry- Highly profitable in 2021
The various advantages offered by dry plasma powder including efficient binding and high digestible content are expected to increase the demand for dry plasma powders and help in the growth of the sub-segment in the 2022-2031 timeframe. - Sales Channel: online and offline
- Offline- Highly lucrative in 2021
Rise in direct sales of plasma powders from physical stores is projected to be a major factor in the growth of the offline sub-segment by 2031. - Region: North America, Europe, Asia-Pacific, and LAMEA
- North America - Significant market share in 2021
The increasing presence of a high number of pet owners in the region is anticipated to give a major boost to the market in the forecast period.
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Dynamics of the Global Plasma Powder Market
Increasing use of bovine-source blood plasma as a functional ingredient in food processing is expected to be the primary growth driver of the plasma powder market in the forecast period. Moreover, growing use of plasma powder as an animal-based source protein source is predicted to augment the growth rate of the market. However, according to market analysts, lack of knowledge about plasma powder might become a restraint in the growth of the market.
Rising use of plasma powder as an alternative to preventive antibiotics and zinc oxide to provide passive mucosal immunity against viral and bacterial infections is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, increasing demand for plasma powder as a protein source is expected to propel the plasma powder market forward in the coming period.
COVID-19 Impact on the Global Plasma Powder Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The plasma powder market, too, was negatively impacted due to the pandemic. The primary reason behind the fall in the growth rate of the market was the disruption in global supply chains which affected the production cycles of plasma powder manufacturing companies.
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Key Players of the Global Plasma Powder Market
The major players of the market include
- Sonac
- APC
- British Aqua Feeds
- ACTIPRO
- Feed Stimulants
- UAP
- IQI Petfood
- Otto Chemie Pvt. Ltd.
- Lican Food
- Shenzhen Taier
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Plasma Powder Market:
- Why is Plasma Powder Becoming a Popular Choice among Animal Feed Manufacturers?
- Increasing Use of Plasma Powder as an Animal-Based Protein Source to Propel the Growth of the Global Plasma Powder Market by 2031
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