Spray-dried animal plasma (SDAP) is a functional ingredient derived from healthy animal blood, used as a nutritional additive in livestock and pet nutrition. SDAP is rich in macronutrients, micronutrients, and bioactive compounds such as immunoglobulins, albumin, growth factors, peptides, transferrin, and enzymes. This review focuses on the chemical composition of SDAP from porcine, bovine, and poultry sources, including protein quality and mineral profile. SDAP enhances performance and health in monogastric farm animals, aquaculture, and pets. It promotes growth rates and feed intake due to its high digestibility and superior amino acid profile compared to other protein sources. In pigs, SDAP’s positive effects stem from tissue-specific actions in the gastrointestinal tract, impacting digestion, immunity, and barrier function. For poultry, SDAP shows promise as a substitute for antibiotic growth promoters, particularly in chick starter diets. SDAP contains functional proteins that regulate immune response, enhance intestinal health, and aid in stress conditions. It is also used as a binder in pet food, providing high protein content and other desirable properties. SDAP meets the dietary requirements of carnivorous pets, appealing to owners seeking animal-derived protein sources. Additionally, SDAP may help prevent cognitive impairment in senior dogs and cats.