The market size of the Global Plasma Powder Market in the year 2021 is valued at 2.77 billion and is predicted to reach 4.21 billion by the year 2030 at an 4.91% CAGR during the forecast period.
Plasma powder includes a variety of physical and biological properties, including a good amino acid profile, immunoglobulins or antibodies that promote health, and great digestion. These powders have a 75% protein content, a high biological value, and are water-soluble. Another essential element promoting growth is the increasing need for food thickeners for soups, sauces, stews, and broths. Increased consumer preferences for high-protein foods and rising demand for ready-to-eat, high-nutrition foods would benefit the plasma powder business. Another issue impeding market expansion is the increased cost of raw materials necessary for the final product. The increasing attention of major companies on developing safe and nutritious animal feed is a critical market driver. Increasing regulatory controls on antimicrobial growth promoters in major emerging economies and similar growth parameters between AMGP and plasma powder will be significant drivers pushing the plasma powder market globally over the forecast period.
Plasma powder has various advantages over standard protein-related additives in cow-feeding operations, including more remarkable growth, fewer scour days, better fecal scores, reduce dehydration, and lower mortality. Furthermore, rising pet production activities and a considerable increase in demand from pet manufacturers for adding new ingredients to improve pet health are expected to drive the market for plasma powder during the forecast period.
The plasma powder market is segmented on the source and applications. Based on the source, the market is segmented into bovine, porcine and others. Based on applications, the plasma powder market is segmented into food, animal feed (poultry feed, swine, aquafeed, pet food, ruminant feed , others) and others.
Based on the source, the bovine segment is accounted as a major contributor to the plasma powder market.
The market's leading segment is bovine. The rising usage of bovine in the food industry is a key driver driving category expansion. Furthermore, the cattle feed business is increasing demand for bovine plasma powder due to an increased desire for immune-stimulating components to prevent animals from losing efficiency. It is also used in cattle feed because it contains proteins that aid in the digestion of young calves. On the other side, the porcine plasma powder market is expanding as it aids cattle in increasing animal weight.
The animal feed segment witnessed growth at a rapid rate.
Animal feed grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. Undigested protein in the intestine of animals can induce bacterial fermentation and pathogen overgrowth. Hence highly digestible proteins or plasma proteins are increasingly important in cattle farming. The rising demand for animal-derived food products such as fish, eggs, meat, and milk creates an urgent need to offer more nutrition to animals, which drives the demand for plasma powder in animal feed. Moreover, the plasma powder helps improve livestock's overall performance and mortality, creating demand for plasma powder.
The North American plasma powder market holds a significant regional revenue share.
The North American plasma powder market is expected to register the highest market share in revenue shortly. Owing to the significant prevalence of pet populations and the growing trend among livestock-producing communities toward AMGP alternatives, The United States, which has the majority of the pet population, has seen a considerable increase in high-protein pet food sales. In addition, Asia Pacific is projected to grow rapidly in the global plasma powder market. Increasing government laws restricting antimicrobial growth regulators in animal feed will likely drive the significant market demand for plasma powder throughout the area during the forecast period.
Some major key players in the Plasma powder market are Veos Group, APC Inc, ACTIPRO, Lican food, Merck KGaA, Darling ingredients, Rock Mountain Biologicals and SARIA Group.