After consuming blood, haemozoin is a waste product produced by blood-feeding parasites ( hematophagous species).
These hematophagous species, such as malaria parasites (Plasmodium spp. ), consume haemoglobin and produce large amounts of free heme and free-heme is toxic to cells.
So, the parasites convert the free-heme into an insoluble, crystalline form called hemozoin.
Haemozoin is also known as malaria pigment in malaria parasites.