Global Hemoglobin Feed Market Will Grow Significantly Due To Shortage In Availability Of Fish Meat Products

Hemoglobin feed consists of a wide range of protein content with low ciders and fats. The product is highly used as a protein source for compound feed, pet feed, and water feed. Also, hemoglobin feed is a highly digestible protein and is highly palatable in nature with low phosphorus content which is used as a key source of protein for shrimps, poultry, and fish. In addition, it is a highly rich source of amino acids that possess high biological value. However, an advanced gentle spray drying method is used in the process of drying hemoglobin feed to retain its bioavailability and effectively maintain the digestibility of its protein.

The growing disposable income of the people globally is offering ample thrust to the demand for meat products, which in turn will significantly fuel the growth of the global hemoglobin feed market. Also, the growing awareness regarding the importance of animal protein in the human diet is likely to strongly influence the overall growth in demand for hemoglobin feed products in the forthcoming years. The advent of multifold non-digital and digital sales channels along with the surge in consumer awareness regarding the quality of animal protein will also create several lucrative growth opportunities in the market.

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The shortage in availability of fish meat products is significantly leading to the rise in the cost of the products owing to which hemoglobin powder has gained exponential popularity among people as a potential replacement. The surging willingness of people to substitute fish products with hemoglobin powder is likely to open lucrative opportunities for the market players operating in the current hemoglobin feed market. Furthermore, the nutritional challenges in the adoption of vegetable protein are likely to augment the demand for hemoglobin feed products especially for aquatic species like shrimp and fish as a source of concentrated protein.

The global hemoglobin feed market can be segmented into application, source, and region.

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By application, the market is segmented into commercial and industrial applications.

By source, the market can be segmented into shark, swine, synthetic, poultry, and bovine.

Asia Pacific accounts for the largest share in the global hemoglobin feed market due to the surge in plasma production along with the growing manufacturing of hemoglobin powder in regions like China. China is considered the major manufacturer of by-products. Also, the growing disposable income and purchasing capacity of people in the region is further accentuating the growth of the regional market. However, a surge in urbanization is expected to support the growth of the regional market.

North America is expected to witness a significant growth rate in forthcoming years due to the presence of favorable government guidelines and policies encouraging the utility of hemoglobin feed in the region. Also, the growing awareness among people regarding hemoglobin as an ideal substitution for fish meals owing to its easy protein digestibility nature will also promulgate the growth of the regional market.

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Some of the significant players in the global hemoglobin feed market are Feedworks Pty Ltd., EccoFeed LLC, Lihme Protein Solutions, VEOS Group, Darling Ingredients, Inc., Rocky Mountain Biologicals, Kraeber & Co GmbH, Puretein Agri LLC, Nutreco, Sera Scandia A/S., Lauridsen Group, Inc., and Daka Denmark A/S. To cite, Darling Ingredients in January 2020 purchased Intrexon by acquiring the remaining half of the stake in EnviroFlight. EnviroFlight is a large producer of non-pathogenic black soldier fly larvae at scale.