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Hemoglobin Feed Market: Segmented: By Source (Bovine, Swine, Poultry, Shark, Synthetic, and Others), By Application (Industrial, and Commercial), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Hemoglobin Feed market to surpass USD 371.3 million by 2032 from USD 219.26 million in 2021 at a CAGR of 4.5% in the coming years, i.e., 2022-32.
Feed which consists of hemoglobin as a feed ingredient is referred to as Hemoglobin Feed. Hemoglobin Feed is a highly digestible and sustainable protein that is usually used in pet food and animal feed and is the best alternative to fish meals or soybean meals. It is inferred through fractionation and sprays drying of blood which is extracted from fit and healthy animals from slaughterhouses. The main source of hemoglobin feed is bovine, poultry, shark, swine, and synthetic. It is widely used in both commercial and industrial sectors for a variety of purposes.
Hemoglobin Feed market is expected to project a notable CAGR of 4.5% in 2032.
Growing demand for protein-rich products and meat and growing adoption of hemoglobin powder as aqua feed is propelling the growth of Hemoglobin Feed market.
Swine segment holds the largest market share
Hemoglobin Feed market is classified on the basis of source into Bovine, Swine, Poultry, Shark, Synthetic, and Others. Swine segment is dominating with the largest share and is expected to lead the market during the forecast period. The growth is attributed to the increasing usage of swine hemoglobin as an ingredient in animal feed in aquaculture, pet food, post weaning piglets, and poultry farms.
Commercial segment holds the largest market share
Hemoglobin Feed market is classified on the basis of application in Industrial and Commercial. Commercial segment is dominating with the largest share and is expected to lead the market during the forecast period. The growth is attributed to the increasing use of pig and ox-like hemoglobin various modern domains such as food industry, biochemical examinations, immunology tests, and biotechnology.
Increasing Demand for Protein-Rich Products and Meat
The demand for protein-rich products and meat is increasing significantly owing to the huge growth in population, rise in urbanization, and increase in disposable income of consumers. The production of meat including swine, poultry, and beef along with fish and dairy products is expected to gain exponential growth. Accelerating demand for high-quality meat and protein-rich products among consumers has induced the need of high protein feed for livestock, which is driving the growth of Hemoglobin Feed market.
Growing Adoption of Hemoglobin Powder as Aqua Feed
The availability of fish meal is limited, which is inducing the adoption of hemoglobin powder as an alternative to fish meal. Hemoglobin powder contains a sufficient level of protein and is highly digestible. Even though vegetable protein sources are widely present around the world but they have limited nutritional values. Growing efforts to replace fish meals with hemoglobin feed products will bolster the growth of Hemoglobin Feed Market.
Increasing Spread of Diseases among Animals
Increasing spread of disease among animals such as African swine fever is restraining the growth of Hemoglobin Feed market. Subsequent illness among animals can hamper the use of animal blood and promote the adoption of alternative sources of protein.
Recent Developments
Hemoglobin Feed market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is dominating with the largest share and is projected to grow at the highest rate during the forecast period. The growth is attributed to the growing seafood and meat consumption, high production of hemoglobin powder and plasma, rise in disposable income, huge population, rapid urbanization, and large presence of key players in the region.
Covid-19 had severely affected economic activities across the world. Many countries had to impose lockdowns and strict social distancing norms in order to control the spread of Coronavirus. Pandemic has disrupted supply chains and resulted in the sharp decline in international trade activities. Covid-19 had negatively impacted the Hemoglobin Feed market. The growing perception of consumers related to the meat consumption and covid-19 infection has hampered the demand of hemoglobin feed.
Hemoglobin Feed Market is further segmented by region into:
Hemoglobin Feed Market Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 219.26 million |
| Revenue forecast in 2032 | USD 371.3 million |
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Source, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Darling Ingredients, Inc., Lihme Protein Solutions, Sera Scandia A/S., Nutreco (SHV Holdings N.V.), Puretein Agri LLC, Kraeber & Co GmbH, Daka Denmark A/S (SARIA Group), VEOS Group, EccoFeed LLC, Feedworks Pty Ltd., and Other Prominent Players |
Hemoglobin Feed market size was estimated at USD 219.26 million in 2021 and is expected to reach USD 371.3 million in 2032.
The feed which consists of hemoglobin as a feed ingredient is referred to as Hemoglobin Feed. Hemoglobin Feed is a highly digestible and sustainable protein which is usually used in pet food and animal feed and is best alternative to fish meal or soybean meal. It is inferred through fractionation and spray drying of blood which is extracted from fit and healthy animals from slaughterhouses.
Swine, and Commercial segment accounted for the largest Hemoglobin Feed market share.
Key players: Darling Ingredients, Inc., Lihme Protein Solutions, Sera Scandia A/S., Nutreco (SHV Holdings N.V.), Puretein Agri LLC, Kraeber & Co GmbH, Daka Denmark A/S (SARIA Group), VEOS Group, EccoFeed LLC, Feedworks Pty Ltd., and Other Prominent Players are the key players in the Hemoglobin Feed market.
Increasing Demand for Protein-Rich Products and Meat and Growing Adoption of Hemoglobin Powder as Aqua Feed are the factors driving the Hemoglobin Feed market.
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