The developing global animal blood plasma products and derivatives market is primarily driven by application animal blood plasma in the food industry.
San Francisco, CA -- (SBWIRE) -- 01/18/2018 -- Global Animal Blood Plasma Products Market: Overview
There have been several technological advancements with regards to the collection of blood from animals and its processing methodologies around the globe. This has led to an increased use of blood plasma products in human food and pet food, thus making a positive impact on demand for these products.. In this way, the global animal blood plasma products market is experiencing a significant growth, which is further expected to continue in the future.
Derivatives type, animal type, and application are three key criteria used to study this market, which are further divided into several sub-categories. From an overall perspective, the food industry, especially for pet foodstuff applicationstands as the most lucrative segment based on application. From an application perspective, cell culture media, pharmaceutical industry, nutrition, cosmetics, and pet food production are some of the most prominent application sectors of the global animal blood plasma products market. Out of these segments pet food production and cell culture media displays the leading demand, and this demand is expected to continue to rise in future.
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Due to the ever increasing demand of plasma products and their derivatives, the market dynamics has changed immensely in the last few years. This growth is also expected to continue in the future. The market was valued at US$1.04 bn in 2015 and according to estimates by analysts, the market value is expected to reach about US$1.92 bn until 2024, displaying a CAGR of 7.10% for the forecast between 2016 and 2014.
Global Animal Blood Plasma Products Market: Trends and Opportunities
The developing global animal blood plasma products and derivatives market is primarily driven by application animal blood plasma in the food industry. A prime application involves making pet food, which also is considered as a significant driver for the market. Blood plasma and its derivatives are mainly utilized in the food industry due to their varied nutritional benefits. As there is a growing demand for pet foods and pet snacks, the global animal blood plasma products market is also significantly affected by a positive upsurge. Another contributor to this market involves using the blood plasma and associated products as substitutes for plant-extracted proteins in pet foods. The distribution networks as well as supply chain processes in this market are continuously experiencing improvements due to efforts taken by various players.
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Global Animal Blood Plasma Products Market: Geographical Outlook
From a geographical perspective, the global animal blood plasma products market is spread across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among these regions, North America had held the topmost position in 2015 with market share of more than 30%. This region was the leading geographical segment mainly due to innovative cell culture applications and presence of established players. . This growth is expected to remain stable in the future according to market studies. Apart from this region, the global animal blood plasma products and derivatives market is anticipated to experience a significant growth in the Asia-Pacific based countries.
Global Animal Blood Plasma Products Market: Competitive Landscape
The competitive scenario of the animal blood plasma products market is substantially fragmented. However, a considerable number of large players exist in the market with high competition between them. Some of the leading players in this industry are: Sigma-Aldrich, Rocky Mountain Biologicals, Auckland BioSciences Ltd., Prolaint, and Thermo Fisher Scientific who collectively account for the maximum market share. Apart from these companies, small-sized companies are investing heavily in this market to improve their visibility and market presence.
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