Description
Nutrition has been a prominent aspect in an individual’s as well as in an animal’s life. Foods equipped with various nutritional values are readily available in the market.
Nutritional supplements also provide immense nutrition to an individual or animal. The growing popularity of nutritional supplements is leading to the discovery of various types of supplements. Bone meal supplement is one of them.
Bone meal supplement is derived from animal bones. The bones are crushed and are used in various functions. The global bone meal supplement market may derive expansive growth opportunities between 2020 and 2030 due to the growing popularity of the supplement as an additive to animal feed and fertilizers.
Bone meal supplements are available in capsule, powder, and liquid form. It is used in a variety of applications such as fertilizers, animal feed and nutrition, nutraceuticals, dietary supplements, and others.
The growing influence of bone meal supplements is not only seen among humans but also animals on a large scale. The heightening cases of calcium deficiency in pets are prompting consumers to opt for bone meal supplements. A rise in pet adoption is also a prominent reason for the increase in demand for bone meal supplements.
Heightening agricultural activities and rising consumer awareness are prominent factors bringing immense growth for the bone meal supplement market.
Furthermore, these supplements contain various minerals such as phosphorous, calcium, and others. It also contains proteins that help in bone recovery.
Nigeria, with a population of about two hundred million (200,000,000) people is grossly underprovided with an essential food component, protein. For example, data from the National Bureau of Statistics (NBS), Central Bank of Nigeria (CBN), and Food and Agriculture Organization (FAO) indicate that from cattle, less than two (2) kilogrammes of beef is available to an average Nigerian per year and just mere four (4) kilogrammes of eggs per annum is available to each Nigerian.
In fact, milk production has been nose diving or at best has remained constant since 1994.This scenario is compounded more so when the volume of egg supply is very low, being ten point fifty-six (10.56) grams per person per day as compared with the usual recommendation that an egg should be consumed by an adult per day. This recommendation would imply a crate of thirty (30) eggs per month. This story also holds for other meat products including, chicken.
To ameliorate this problem of low-level of protein intake, there is the need for concerted effort amongst the various stakeholders to bring about massive production of protein based food items at competitive costs.
Poultry feed market is a part of vast animal feed market and makes an important part of it as poultry is invariably consumed in most parts of the world. The concept of animal feed has been there in the market for several years especially in the developed markets.
However, with the advent of globalization and rise in the standard of living of consumers, companies are expanding in the emerging markets of the world with improved products and wide range of options for each animal group. Poultry meat is the highest among others such as pork, beef and fish meat. Therefore, vast opportunity lies in the poultry feed segment.
Rising per capita income and widespread poultry diseases are the major driving factors of the poultry feed market globally. In addition, growth of domestic and international quick service restaurants in developing countries and demand for quality meat products by consumers has significantly contributed to the rising demand of poultry feed those regions.
Nigeria’s population is projected to hit four hundred million (400,000,000) people by 2050, from the current two hundred million (200,000,000). This is likely to create huge demand for livestock and livestock products, opening up opportunity for growth of the country’s $12 billion animal feed market.
The potential for an expanded animal feed sector in Nigeria is huge, underpinned by the current high livestock numbers now estimated at ten million (10,000,000) birds, twenty-two million (22,000,000) cattle, forty million (40,000,000) sheep and fifty million (50,000,000) goats.
Demand for livestock and livestock products in Nigeria would more than double by 2050 and to satisfy this expected huge demand for animal protein and other livestock products, livestock production and productivity has to increase commensurably in quality and quantity by about sixty percent (60%) says Chief Audu Ogbe, Nigeria’s Minister of Agriculture and Rural Development in a recent presentation.
In addition, the United States Department of Agriculture (USDA) estimates Nigeria’s poultry meat consumption will increase ten-fold by 2040, assuming moderate feed costs, while domestic poultry production is expected to increase by eight billion (8,000,0000,000) eggs and one hundred million (100,000,000) kilograms of poultry meat per annum.
This report examines the financial viability of establishing a bone meal processing plant in Nigeria. The products would be exported to earn scare foreign exchange.
The capacity of the proposed plant is one (1) ton per day and the plant would operate for a single shift of eight (8) hours per day at eighty percent (80%) of the installed capacity for three hundred (300) days.
