PUBLISHER: Allied Market Research | PRODUCT CODE: 1266514
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266514
The global plasma powder market is anticipated to reach $4.3 billion by 2031, growing from $2.7 billion in 2021 at a CAGR of 4.9% from 2022 to 2031.
Plasma protein powder is used in the production of high-quality chunks and pate. It binds all tiny particles together and keeps water and fat in the matrix. This results in a consistent product with a juicy, elastic, and soft texture that our cats and dogs enjoy with every bite. The gelling and water binding capabilities are more pronounced at higher temperatures, which is a plus. These factors are anticipated to boost the plasma powder industry growth in the upcoming years.
The acceptability of blood-based products for livestock feed is anticipated to be hampered by a lack of public awareness and costly commercial investment. The rise in the cost of raw materials such as porcine, bovine, or ovine blood, that are necessary for the finished product is another hindrance to the market expansion. All of these issues are expected to limit the demand for plasma powder during the forecast period.
An increase in the number of pet food producers is examining the use of protein in addition to traditional animal protein to improve animal health owing to the rising pet adoption rates and increasing demand for high-protein pet products. Plasma protein in pet food formulation specifically helps formulation in increasing food palatability in a product. These are significant factors that are expected to boost the plasma powder market expansion.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were at a standstill. There were import-export restrictions laid down on major plasma powder producing countries such as the U.S. and China, which imposed significant challenges on the market As a result of the outbreak, the major manufacturers operating in the plasma powder market suffered a significant downfall in revenue generation. This is mainly due to the stoppage of manufacturing and production facilities and the high operational cost involved. Also, stockpiling, delay of payments from vendors and other distributors, complexities in import-export trade, and other factors hampered the market during the pandemic.
The key players profiled in this report include: Sonac, ACTIPRO, IQI Petfood, Shenzhen Taier, APC, Feed Stimulants, Otto Chemie Pvt. Ltd., British Aqua Feeds, UAP, and Lican Food.