ALBANY, New York, March 23, 2017 /PRNewswire/ --
According to a report by Transparency Market Research (TMR), the global
As of now, a large number of vendors are focusing aggressively on improving their distribution network, globally by partnering with manufacturers, local distributors, and raw material suppliers. Various companies, which are based in developed countries, are likely to expand their business in emerging economies in the near future through mergers, acquisitions, and partnerships in order to strengthen their businesses and improve their scope for market expansion, notes the study.
As per TMR's estimations, the global market for animal blood plasma products and derivatives stood at US$1.04 bn in 2015. The progress in this market is estimated at a CAGR of 7.10% during the period from 2016 to 2024, with which it is expected to reach US$1.92 bn by the end of the forecast period. Cell culture media and the food industry have surfaced as the leading application segments of animal blood plasma products and derivatives and are expected to remain so over the next few years, states the report.
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Expanding Application Areas of Animal Blood Plasma Products and Derivatives in North America to Ensure its Dominance
The worldwide animal blood plasma products and derivatives market is spread across the Middle East and Africa, North America, Asia Pacific, Europe, and Latin America. As per the report, North America is leading this market since the last few years, thanks to the presence of a large number of key market players in this region. It led the global market in 2015 with a share of more than 30%. Researchers expect this regional market to retain its leadership throughout the forecast period on the grounds of the rising demand for animal blood plasma products and derivatives in a number of applications, such as sports nutrition and pet food.
Along with this, the rise in the import of live cattle animals from Australia and New Zealand and the early adoption of advanced technologies for blood fractionation - further utilized for the production of plasma products and derivatives - is also anticipated to propel the North America market for animal blood plasma products and derivatives over the forthcoming years. Asia Pacific, on the other hand, is projected to offer promising opportunities to market players in the near future on account of the ample availability of untapped potential.
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Accelerating Usage of Blood Plasma Products in Food and Pet Food Industries to Boost Market's Growth
"The global animal blood plasma products and derivatives market is heavily influenced by the accelerating usage of blood plasma products in the food and the pet food industries," says a TMR analyst. The growing awareness regarding the benefits offered by blood plasma products, such as super-premium quality and healthy solutions to prepare ingredients for wet pet foods and snacks. The augmented usage of these plasma products and derivatives as alternatives to plant extracted proteins and nutrient elements is also reflecting positively on this market.
In addition, the improvement in the supply chain and supply chain and distribution network is likely to support this market substantially over the forecast period. However, the price volatility in animal blood products and the rise prevalence of various diseases in animals, resulting in decreased production, may hinder the growth of this market in the near future, reports the study.
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The study presented here is based on a report by Transparency Market Research (TMR), titled "Animal Blood Plasma Products and Derivatives Market (Derivatives Type - Immunoglobulin, Fibrinogen, Serum Albumin, and Fetal Bovine Serum; Application - Cell Culture Media, Food Industry, Pharmaceutical Industry, Sports Nutrition, Nutrition Supplements, Cosmetic Industry, Diagnostic Industry, and Pet Food Industry; Animal Type - Bovine and Ovine) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast, 2016 - 2024."
The global animal blood plasma products and derivatives market is segmented as follows:
By Derivatives Type
By Animal Type
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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SOURCE Transparency Market Research
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