Rise in demand for nutritious processed food products and growing preference toward food thickeners for usage in soups, sauces, stews, and broths drive the growth of the global plasma powder market. By application, the pet food segment held the highest share in 2021. By region, Asia-Pacific would cite the fastest CAGR by 2031.
Portland, OR, March 10, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global plasma powder market was estimated at $2.7 billion in 2021 and is expected to hit $4.3 billion by 2031, registering a CAGR of 4.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
|Market Size in 2021||$2.7 Billion|
|Market Size in 2031||$4.3 Billion|
|No. of Pages in Report||300|
|Segments Covered||Application, Source, Form, Sales Channel, and Region.|
|Drivers||Rise in demand for nutritious processed food products|
|Growing preference toward food thickeners for usage in soups, sauces, stews, and broths|
|Restraints||Rise in the cost of raw materials such as porcine, bovine, or ovine blood required for the finished product|
|Furthermore, plasma powders are only manufactured in specialist facilities with the required equipment, technology, and skill. This reduces competition and raises prices by limiting the number of manufacturers in the market.|
|Opportunities||The major manufacturers operating in the market are emphasizing on introducing new product lines explicitly focusing on the ongoing trends to create a strong brand image and stay competitive in the global environment|
- The outbreak of the pandemic had hampered the plasma powder market operations due to lockdown and market shutdown. The slowed market expansion created a significant barrier to the market growth. The strict regulatory framework for animal-based protein in animal feed also had an impact on plasma synthesis, which affected the growth of the plasma powder market.
- However, the market has now got back on track.
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The global plasma powder market is analyzed Application, Source, Form, Sales Channel, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By application, the pet food segment held the highest share in 2021, garnering nearly one-third of the global plasma powder market revenue. The pig feed segment, on the other hand, would showcase the fastest CAGR of 5.7% throughout the forecast period. The poultry feed, aqua feed, ruminant feed, and human food segments are also analyzed in the study.
By source, the procine segment contributed to more than two-fifths of the global plasma powder market share in 2021, and is projected to rule the roost by 2031. The ovine segment, however, would display the fastest CAGR of 5.8% throughout the forecast period. The bovine segment is also discussed in the report.
By form, the dry segment accounted for the highest share in 2021, generating around three-fifths of the global plasma powder market revenue. The same segment would also portray the fastest CAGR of 5.2% during the forecast period.
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By sales channel, the offline segment garnered the highest share in 2021, accounting for more than three-fifths of the global plasma powder market revenue. The online segment, at the same time, would cite the fastest CAGR of 5.5% from 2022 to 2031.
By region, North America held the major share in 2021, garnering around half of the global plasma powder market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 5.6% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global plasma powder market report include Shenzhen Taier, ACTIPRO, IQI Petfood, APC, Feed Stimulants, Sonac, British Aqua Feeds, UAP, Lican Food, and Otto Chemie Pvt. Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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