The Blood Meal Global Market Report 2023, provides comprehensive information on the blood meal market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Blood Meal Global Market Report 2023, the global blood meal market size is expected to grow from $1.90 billion in 2022 to $1.98 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global blood meal market size is expected to reach $2.27 billion in 2027 at a CAGR of 3.4%.
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Increasing demand for food and beverages is expected to propel the growth of the blood meal market going forward. Food and beverages are any raw, cooked, or processed edible product used or intended for use in whole or in part for human consumption. Blood meal is used as a livestock nutritional supplement, providing dietary lysine to cattle, fish, and fowl. For instance, in March 2021, according to Statistics Canada and farm credit Canada (FCC), a Canada-based agricultural term lender, the food and beverage manufacturing sales increased by 3.5% year-over-year (YoY) in 2020 from $118.7 billion to $122.9 billion. Furthermore, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover grew from £105 ($115.01) billion in 2020 to £112 ($122.68) billion in 2021, increased by 3.4% since 2020, accounting for 20% of the total UK manufacturing. Therefore, the increasing demand for food and beverages is driving the growth of the blood meal market.
The blood meal market is segmented:
1) By Source: Porcine Blood, Poultry Blood, Ruminant Blood
2) By Process: Solar Drying, Drum Drying, Ring and Flash Drying, Spray Drying
3) By Application: Animal Feed, Agriculture, Other Applications
North America was the largest region in the blood meal market in 2022.
The table of contents in TBRC’s blood meal market report includes:
- Executive Summary
- Blood Meal Market Characteristics
- Blood Meal Market Trends And Strategies
- Blood Meal Market – Macro Economic Scenario
- Blood Meal Market Size And Growth
.
- Blood Meal Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Blood Meal Market
- Blood Meal Market Future Outlook and Potential Analysis
- Appendix
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