COVID-19 Impact Analysis on Global Porcine Plasma Feed Market
The outbreak of COVID in the Animal Feed Market caused distribution since it spread was across the globe. COVID-19 impacted the various sector and industries. Due to the COVID-19 pandemic, the demand for food has been rising but due to the supply chain disruption stopped producers to supply their products to the market. Moreover, the disruptions in the supply chains are causing wastage of fresh produce, even though there is a high demand for products. The huge COVID-19 impact faced by poultry industries as rumours are spread all over the world by consuming meat and meat products coronavirus is spreading. The shutdown of economic activities affected all the agriculture sector. Due to transportation barriers, porcine plasma feed market demand is reduced. The export of feed has been reduced due to the emerging concern from the spread of the COVID-19 pandemic. In the first quarter of 2020, the pandemic has dampened the demand for animal protein, subsequently affecting the porcine plasma feed market.
Market Overview- Global Porcine Plasma Feed Market
Market Drivers
Porcine plasma feed help to increase feed nutritional quality is a key factor in increased demand for animal feed additives. Porcine plasma has water-binding ability, emulsifying characteristics and palatability owing to this benefits during production process increased demand for it. Growing demand and consumption of livestock-based products like dairy and dairy-based products, meat is driving the growth of the porcine plasma feed market. Plasma feed involve animal-derived plasma proteins as the feed ingredient and due to rise in demand for alternative protein sources in the feed industry boosted the growth of porcine plasma feed market. The growing demand for high quality pet food and rising need to build sustainability in the food production process drives the market for plasma feed. In addition, growing demand for high quality pet food and the trend for the use of natural and bioactive products in the food industry is expected to boost the porcine plasma feed market. Moreover, the increase adoption of sustainable method for food production with rise in disposable income, increase spending on pet food are also accelerate the growth of the porcine plasma feed market.
Market Restraint
Acceptance of blood-based products for livestock feed due lack of awareness among consumer also high investment in refining technology at a commercial level will hampered the porcine plasma market growth. Increased cost of raw material required for the final product are another factor hindering the growth of the market.
Market Opportunity
Growing initiative from livestock and the food industry has created good opportunity for porcine plasma feed market. Moreover, increased disposable income, rising consumer spending on pet food and urbanization are some factor created opportunity for porcine plasma feed market.
Market Growth Challenges
Government regulation for animal-based protein is a major challenge for the porcine plasma feed market. Moreover, maintaining standard of animal production techniques as low-standard animal product caused disease that is another challenge.
Cumulative Growth Analysis
The report provides in-depth analysis of global porcine plasma feed market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for porcine plasma feed in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
Market Segmental Overview
The global porcine plasma feed market comprises of different market segment like application, end users and geography.
Porcine plasma feed Market by Application
Application of porcine plasma observed in, swine feed, pet food, aquafeed, and others. The swine feed is accounted largest share in the porcine plasma feed market. The use of growth promoting and therapeutic antibiotics in piglet feed is a concerning topic among farmers as there is risk of generating antimicrobial resistance that might transferred to humans. The use of spray dried plasma as an alternative to antibiotics for piglets specially in the weaning stage. Spray dried porcine plasma is a feed ingredient with highly digestible proteins and amino acids. In commercial swine operation, the absence of spray dried plasma in the first nursery feed is identified as a risk factor for mortality in nursery piglet. As porcine plasma based feed supports piglet for the development and good feed certainly contribute to health of piglets with factors like to increase total weight of piglets at weaning stage, help to improve fertility and improve milk production during lactation and likewise reduce the use of antibiotics in pig livestock.
Porcine plasma feed Market by End-User
The End-user studied in the global porcine plasma feed market are swine, pet food, aquafeed and others. The farmer is likely to gain major market share during the estimated time period. Farmer have major concern for their livestock health which is rising demand for various high quality food, requirement for nutritional content in food, and in the feed for pig, aquatic animal, pets and among others increasing the demand for porcine plasma feed. Animal poor health, productivity and death of animal create burden to farmer therefore animal health is major concern for farmer which created demand for high-quality feed. Moreover, the use of growth promoting and therapeutic antibiotic in piglet feed is a major concerning topic among the farmers and risk associated with antimicrobial resistance which might be transferred to humans. Due, to this problem alternative for antibiotics and other growth promoting feed, porcine plasma feed is considered most promising for animal health.
Porcine plasma feed Market by Geography
The global porcine plasma feed market is studied for key regions such as North America, Europe, Asia Pacific and Rest of the World. The Asia-Pacific is likely to dominate the global porcine plasma feed market. Rising economy and increasing demand for overall meat food market in this region boosting the plasma feed market growth in this region. According to the Food and Agriculture Organization report the demand for livestock products has increased in this region. China accounted largest share in the porcine plasma feed market in this region owing to increased demand for pork and rising number of slaughters in this country. Increasing demand for alternative protein sources in the animal feed industry and increasing life expectancy and limited land availability and water resources for animal feed production boost the demand for animal-based protein sources are driving market growth in this region.
Competitive Landscape Analysis
The competitive landscape analysis of porcine plasma feed market is certainly based range of market players operating in the market with increasing demand for production of animal-based feed. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in the market are, apcproteins, saria A/s Gmbh & Co. Kg, sera Scandia, lican food, puretein Agri LLC, veos, kraeber & co Gmbh, ridley corporation limites, allanasons pvt Ltd, Rocky Mountain Biologicals, Lihme protein solutions, FeedWorks Pty. Ltd., Darling Ingredients Inc., West Coast Reduction Ltd., Nutreco, Ekofood, Valley Proteins, Inc, FASA group and among other.
Recent Development
June 2018: - Essentia Proteins announced acquisition of Scanflavour which is producer of function protein and ingredient derived from pork. The acquisition was aimed to strengthening the market presence.
