The Europe blood meal market is accounted to US$ 345.82 Mn in 2018 and is expected to grow at a CAGR of 3.0% during 2019-2027, to account to US$ 451.10 Mn by 2027.
Blood meal is defined as a dried form of animal blood which is collected from slaughtering of several livestock species such as cattle, pigs, chickens, and others under specific conditions. Blood meal is considered as rich source of protein, iron and nitrogen and is used to supplement feed diets based on cereal grains, remains of plants and forages. Blood meal serves an advantage over plant-based protein and other feed ingredients owing to their rich nutritional profile and cost effectiveness. Apart from their use in feed industry, blood meal also finds application as natural and organic fertilizer to promote plant growth. Therefore, with the surge in demand for healthy feed products coupled with increase focused towards environment sustainability and crop protection, the market for blood meal is expected to rise over the forecast period.
Based on source, the Europe blood meal market has been segmented into porcine blood, poultry blood and ruminant blood. The poultry blood segment dominated the blood meal market in 2018.However, the porcine blood segment is expected to grow at a rapid pace during forecast period. Some of the industries are offering glutaraldehyde-stabilized freshly prepared pig red blood cells for research or other purposes. Porcine blood, which is also known as pig blood or swine blood, encapsulates many of the similar characteristics of human blood and is quite a useful animal model in many areas of research. Poultry blood is collected from chicken mainly for two purposes, such as to obtain serum, which can be tested for various disease virus antibodies, no anticoagulant is required in this process, and the blood is allowed to clot. Ruminant blood is collected mainly from a cow. Fresh and whole blood is collected from slaughterhouses, then coagulated, and finally steam dried, which is often referred to as animal protein transformed from the blood. The demand for a ruminant blood meal is increasing among the animal farmers since they are quite concerned about the healthy yield of the ruminants and others. Also, the rising demand for nutritious meat products among the consumers globally is further influencing the ruminant blood meal market
Geographically, the Europe blood meal market is segmented into Germany, France, Italy, UK, Russia and rest of Europe. Rest of Europe is considered as a major market for blood meal as it provides several rewarding opportunities to manufacturers and producers. Blood meals are considered to be effective substitutes for fish meals in fish feeds owing to presence of high amount of protein content (89%) and lower in P (0.3%) than fish meal. Rest of Europe includes Russia, Spain, Austria, Poland, Portugal, and Turkey, among others. The demand for blood meal in the rest of Europe is forecast to rise over the forecast period due to growing investment in research and development by manufacturers along with the growing number of applications. Also, robust growth in the product offerings is impacting the market growth in the rest of the regions in Europe.
Allanasons Pvt. Ltd., APC Company, Inc., Apelsa Guadalajara, SA de CV., Ridley Corporation Limited, Sanimax, Terramar Chile Spa, Valley Proteins, Inc. and FASA Group are among the major players operating in the Europe blood meal market.
Wuhan (China) is the city in which the outbreak of COVID-19 initially started in in December 2019. Since then, it has spread at a fast pace across the world. USA, Brazil, Russia, India, UK and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. Due to the outbreak of covid-19, there has been a severe downfall in the revenue of different industries. Lockdowns, travel bans, and business shutdowns have drained the amount of money available with the people and companies, which in turn has restrained the economic flow in the market. The food and beverage industry shutdown and supply chain disruptions due to the lockdown of countries have curbed the supplies of food and beverage products worldwide. Decrease in the out-of-home consumption has impacted the food and beverage industry figures adversely. If we go through the data, Italy has the highest number of confirmed cases of coronavirus, as, compared to any other country in Europe. It is expected to face economic hit as there is reduction in the revenue generated by the industries. Besides this, other member states have closed their borders and adopted various other restrictions that are anticipated to have an adverse effect on the economy of Europe.
The overall Europe blood meal market size has been derived in accordance to both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe blood meal market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe blood meal market.