Report Overview

An increasing demand for animal feed in the agriculture industry due to an increase in population and rising incomes, government support for the development of the livestock and poultry industry, and increased plasma feed acceptance in pet food are expected to drive Vietnam plasma feed market during the forecast period between 2023 and 2029.

Vietnam Plasma Feed Market - Industry Trends & Forecast Report, 2029

Vietnam plasma feed market size was estimated to be worth USD 97.9 million in 2022. During the forecast period between 2023 and 2029, Vietnam plasma feed market size is projected to grow at a CAGR of 5.11% reaching a value of USD 138.21 million by 2029. Major growth factors for the Vietnam plasma feed market include expanding uses from the aquafeed industry, increased demand for plasma feed due to its advantages against antibiotics, rising need for a variety of high-protein feed ingredients, and growing pressure to use sustainable food production techniques.

Vietnam Plasma Feed Market – Overview

Plasma feed is a highly digested animal protein source used to enhance feed palatability and intestinal health. A natural source of bioactive components, spray-dried plasma powder can be used as an in-feed substitute for zinc oxide and preventive antibiotics. Plasma feed contains significant amounts of vitamin phosphorus, vitamin B12, calcium, salt, potassium, chloride, and magnesium. It has been demonstrated to outperform other protein sources, including skim milk, and is also abundant in critical amino acids.

Vietnam Plasma Feed Market

Growth Drivers

Increased Plasma Feed Acceptance in Pet Food

According to research on dogs, adding plasma to dog food improves digestion and reduces fecal output. Multiple species have employed plasma as a source of functional proteins, nucleotides, and antibodies in their feed formulae because these substances have special health advantages. Multiple species have employed plasma as a source of functional proteins, nucleotides, and antibodies in their feed formulae because these substances have special health advantages. For instance, it's been proposed that some plasma proteins' antimicrobial capabilities help the immune system. With the increasing pet ownership in Vietnam rising living standards and increasing disposable income, the demand for plasma feed in pet food will expand during the forecast period.

Restraints

High Cost of Plasma Feed Compared to Traditional Feed Ingredients

Blood plasma, a quick-digesting protein source, has long been employed to boost performance in the diets of nursery pigs. The profit margins of the pig farmer are under strain due to the ingredient's high price. However, blood plasma may be expensive, therefore many pig farmers and nutritionists have looked for a less expensive substitute. Wheat gluten is emerging as a cost-effective alternative to plasma feed that offers the same performance as blood plasma in animals. This may restrict the growth of the Vietnam plasma feed market in the coming years.

Impact of COVID-19 on the Vietnam Plasma Feed Market

The COVID-19 pandemic adversely affected the market for plasma feed in Vietnam. Vietnam managed to contain the virus' spread, but several COVID-19 hotspots, including major cities, had to be placed under lockdown. The plasma feed supply chains were a little bit hampered as a result, and the producers suffered significant losses. Additionally, the country's extremely low demand for meat during this time slowed down the demand for animal-based proteins, which had a negative impact on the growth of the Vietnam plasma feed industry.

Vietnam Plasma Feed Market

Segmental Coverage

Vietnam Plasma Feed Market – By Source

Based on source, the Vietnam plasma feed market is segregated into bovine, swine, poultry, synthetic, shark, and other segments. The bovine plasma segment accounts for the highest share in the Vietnam plasma feed market, as it is emerging as an alternative to fat in the food processing industry. The increasing use of bovine-derived plasma powder as a calf milk alternative is another factor driving the market's growth. It is anticipated that the demand for bovine plasma will be driven by its usage in animal feed. The need for premium animal feed products, which are ideal for young animals' healthy growth over the anticipated time period, is another factor driving market expansion.

Vietnam Plasma Feed Market – By Application

Based on application, the Vietnam plasma feed market is segmented into industrial and commercial. The industrial segment holds a higher market share. The demand for plasma feed is gaining huge traction in the food industry. Innovative food business technologies are becoming more popular as a result of the need to improve microbiological food safety and quality without sacrificing the foods' nutritional, functional, and sensory qualities. Plasma is a new, environmentally friendly processing technology with a wide range of possible uses that satisfies the demands of the sector.

Vietnam Plasma Feed Market – By End Use

Based on end use, the Vietnam plasma feed market is segmented into swine feed, aquafeed, pet food, and others (poultry and ruminants). The swine feed segment accounts for the highest share of the Vietnam plasma feed market. It is widely established that adding plasma to starter feed for weaned pigs can boost feed intake and pig development during the trying post-weaning phase. During gestation and lactation, the sow herd may also face heat stress or disease stress, such as PRRS, which can lower sow herd production and profitability.

Competitive Landscape

Major players operating in Vietnam plasma feed market include Thanh Nhon Corporation, Cargill Vietnam, Royal De Heus, GreenFeed Co., Ltd., The Charoen Pokphand Group, Japfa Comfeed, Proconco, East Hope Group Company, Lai Thieu Feed Mill Co., Ltd., American Feeds Vietnam, Dabaco Group, and Vissan. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Source

• Bovine

• Swine

• Poultry

• Synthetic

• Shark

• Others

By Application

• Industrial

• Commercial

By End Use

• Swine Feed

• Aquafeed

• Pet Food

• Others (Poultry and Ruminants)