Plasma Powder Market Expected to Reach $4.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Plasma Powder Market," The plasma powder market size was valued at $2.7 billion in 2021, and is estimated to reach $4.3 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

Plasma powder is used in food as a source of protein, gravy-thickening ingredients, and binding agents. The global market is expected to be driven by a rise in demand for nutritious processed food products. The voluntary efforts of food producers to improve the quality of processed meals have increased demand for healthy processed foods such as plasma powder. Another important factor that is expected to promote demand for plasma powder is the increase in the need for food thickeners for usage in soups, sauces, stews, and broths. An increase in consumer preferences for high-protein foods, as well as a rise in demand for ready-to-eat, high-nutrition foods, is predicted to benefit the plasma powder market growth.  

A major impediment to the market expansion is the 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.  This enables manufacturers to control the entire plasma powder industry and has a substantial impact on plasma production. These are some of the major issues that are expected to hamper the plasma powder market analysis during the forecast period.

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. This factor is creating significant lucrative business opportunities for the key players and driving the plasma powder market demand.

The global plasma powder market share is segmented on the basis of application, source, form, sales channel, and region. By application, it is classified into pet food, pig feed, poultry feed, aqua feed, ruminant feed, human food, and others. By source, it is classified into porcine, bovine, ovine, and others. By form, it is classified into dry and wet. By sales channel, it is classified into online and offline. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the plasma powder market report include Sonac, ACTIPRO, IQI Petfood, Shenzhen Taier, APC, Feed Stimulants, Otto Chemie Pvt. Ltd., British Aqua Feeds, UAP, and Lican Food. 

The report offers a comprehensive analysis of the global plasma powder market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.

Impact of COVID-19 on the Global Plasma Powder Industry

• Sales of plasma powder are directly proportional to the demand from the healthcare and animal feed industries. The COVID-19 pandemic has had a significant impact on the plasma powder market. The initial outbreak of the virus led to a slowdown in the global economy and a decrease in demand for plasma powder products.
• COVID-19 impacted almost all industries and the plasma powder producing companies ceased their operations owing to import-export restrictions, lockdowns imposed across several countries, and a shortage of labor; the fear of contracting the novel coronavirus led to sluggish demand in the market
• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market
• Moreover, the sudden nationwide lockdown hampered the manufacturing of plasma powder. The operational cost of stockpiling, manufacturing facilities, and warehouses, and the unavailability of skilled and unskilled professionals increased the expenditure of the manufacturers resulting in a low-profit margin.

Key Findings of the Study

• Based on application, the pet food sub-segment emerged as the global leader in 2021 and the poultry feed sub-segment is anticipated to be the fastest growing during the forecast period
• Based on source, the porcine sub-segment emerged as the global leader in 2021 and the bovine sub-segment is predicted to show the fastest growth in the upcoming years
• Based on form, the dry sub-segment emerged as the global leader in 2021 and the wet sub-segment is predicted to show the fastest growth in the upcoming years
• Based on sales channel, the online sub-segment emerged as the global leader in 2021 and the offline sub-segment is predicted to show the fastest growth in the upcoming years
• Based on region, the North America market registered the highest market share in 2021 and is projected to maintain its position during the forecast period