Plasma Technology to Gain Noteworthy Traction from Food & Beverages Sector as Demand for Hygiene Grows
Research and development activities have emerged as the pillars of success for players involved in the current plasma feed market landscape and the trend is most likely to continue in the upcoming years. Research investments are expected to rise in the upcoming years largely driven by the outbreak of the novel COVID-19 pandemic. Several studies have revealed that the plasma technology can play a key role in inactivating microbial pathogens, fungi, viruses, and bacteria, among others. Moreover, the plasma technology has offered tremendous promise in inactivating pathogens on the surface of medical and dental devices due to which, the plasma feed market is expected to witness consistent growth in the upcoming years.
While the healthcare sector is projected to provide noteworthy opportunities to the players involved in the current plasma feed market landscape, the food & beverages industry is anticipated to remain the most prominent end-use industry. Current applications of plasma feed include sterilization and disinfection of surfaces, medical devices, and food preservation. With additional research pertaining to the potential scope of plasma feed, the usage of this technology is anticipated to spike during the forecast period. The players operating in the current plasma feed market landscape are expected to focus on improving the efficacy of the plasma feed technology to strengthen their foothold in the current plasma feed market.
At the back of these factors, the global plasma feed market is on the course to surpass the market value of ~US$ 4.1 Bn by the end of 2030. Furthermore, significant rise in the usage of plasma feed as an alternative to antibiotics is likely to provide abundant opportunities to existing as well as upcoming market players operating in the current market for plasma feed.
Surge in Demand for Plasma Feed Technology for Food Preservation to Fuel Market Growth
Evolving consumer preferences have played an instrumental role in shaping the growth of the food & beverages sector worldwide. The emergence of new trends, products, and technologies have largely been driven by rapidly changing consumer trends. In the current day and age, consumers demand high levels of transparency from food manufacturers, in terms of product sourcing, hygiene testing, certification, etc. With consistent rise in the demand for food preservation, new technologies, including plasma feed have emerged as ideal solutions to cater to the current requirements of the industry. Over the past decade, the novel plasma feed technology has offered immense promise as an effective disinfectant for food products and various types of packaging materials.
In addition, as cold plasma is cost-efficient, free of waste, and leaves minimal chemical residue on the product, the uptake of plasma feed has witnessed a major rise in recent years– a trend that is set to continue during the forecast period.
At present, market players are increasingly focusing on addressing challenges related to the usage of cold plasma, and maximize spore and microbial inactivation. While the food & beverages industry is projected to remain a key end-use sector, researchers at the the opinion that the plasma feed technology has potential uses within the aerospace sector. Cold plasma treatment is also gaining gradual traction as an alternative water-treatment solution due to the mounting concerns related to chlorine. Existing and upcoming players operating in the plasma feed market are expected to increase their R&D expenditure and unlock the potential of the plasma feed technology.
Demand to Grow amid Ongoing COVID-19 Pandemic
The outbreak of the COVID-19 pandemic is expected to have a strong impact on the overall growth of the global plasma feed market in 2020. In the wake of the ongoing COVID-19 situation, the demand for effective sterilization and disinfection of products, packaging materials, and other commodities has witnessed exponential growth– a factor that is expected to bolster the growth of the plasma feed market during the ongoing pandemic. Furthermore, as consumers continue to tread with caution and demand high levels of hygiene and tests from players involved in the food & beverages sector, the uptake of plasma feed technology is anticipated to increase in the upcoming months.
The global plasma feed market is on the course to expand at a high CAGR of ~5% during the forecast period. The market growth can be primarily attributed to factors such as considerable rise in the production of meat on the global scale, increase in the overall consumption of animal-based proteins, and consumer demand for optimum hygiene and testing. Market players should ideally focus on research and development activities to improve the efficacy of the existing plasma feed technology to strengthen their position in the market.
Plasma Feed Market: Overview
The global plasma feed market was valued at US$ 2.4 Bn in 2019 and is projected to expand at a high CAGR from 2020 to 2030
Plasma feed can be defined as feed products, which involve animal-derived plasma proteins and plasma as feed ingredients. Plasma, as an animal feed ingredient, is easily digestible and offers high quality protein. It primarily contains essential plasma proteins, including globulins and albumin.
The global plasma feed market is driven by increase in production of meat globally, demand for high protein animal meal, adoption of pets, humanization contributing to the demand for high protein pet food, feed production, and industrial applications of plasma feed
Additionally, increase in disposable income in emerging markets and rise in demand for animal meat in certain countries contribute to the growth of the global market
Significant increase in the production of plasma feed in Asian countries boosts the growth of the global plasma feed market
Plasma Feed Market: Segmentation
The global plasma feed market has been segmented based on source, application, and region
In terms of source, the global plasma feed market has been categorized into bovine, swine, shark, poultry, synthetic, and others. The swine segment dominated the global market in terms of revenue in 2019 and the trend is projected to continue during the forecast period. The segment is driven by usage of swine plasma as a component of animal feed in post-weaning piglets, in aquaculture, and in poultry farms.
Increase in export of porcine feed from few countries in Europe to countries in Asia contributes to the economic trade growth in the region. The continuous import of poultry products in EU countries leading to an oversupply and the increasing outbreak of avian influenza in certain countries in Central and South Eastern Europe, including Ireland, would have a negative economic impact on the demand for poultry consumption.
Based on application, the global plasma feed market has been classified into industrial and commercial. Commercial was the dominant segment in 2019. The trend is anticipated to continue during the forecast period. Growth of the commercial segment can be attributed to increase in usage of animal plasma products in animal feed, owing to high protein and amino acid content. Additionally, its ability to increase the palatability of the feed, along with nutrition content contributes to the growth of the segment.
Plasma Feed Market: Regional Segmentation
In terms of region, the global plasma feed market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific dominated the global plasma feed market in 2019 and the trend is projected to continue during the forecast period
The plasma feed market in Asia Pacific is anticipated to expand at a high CAGR from 2020 to 2030. The plasma feed market in the region is expected to expand at a high CAGR during the forecast period, owing to significant rise in meat and seafood consumption, which can be ascribed to the increase in disposable income, growth in urbanization, rise in population.
Plasma Feed Market: Major Players
The global plasma feed market is fragmented in terms of number of players. Key players operating in the global plasma feed market are
In January 2020, Darling Ingredients bought out Intrexon by acquiring the remaining 50% stake in EnviroFlight, a producer of non-pathogenic black soldier fly larvae at scale. EnviroFlight focuses on enhancing the global food supply chain to meet the increase in demand among the population.
In January 2020, Nutreco announced investment in Kingfish Zeeland, a Netherlands-based company, which supplies yellowtail kingfish to Europe and the U.S., through a proprietary recirculating aquaculture system (RAS). This investment is likely to boost Nutreco’s U.S. and Europe supplies of yellowtail kingfish.
In June 2018, Essentia acquired a Denmark-based protein manufacturer Scanflavour A/S. This acquisition enabled the company to strengthen its position as one of the leading global manufacturers of animal-based protein ingredients. Essentia Protein Solutions belongs to The Lauridsen Group, Inc.
Key Questions Answered in Plasma Feed Market Report
Plasma Feed Market – Segmentation