NEWARK, Del, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The net revenue generated from the sales of animal feed worldwide was figured out to be around US$ 4,230.7 million by 2022 end. The demand for algae-based animal feed and components is anticipated to increase at an annual average growth rate of 3.7% from 2023 to 2033. By following this growth rate, the overall market value is anticipated to reach US$ 8,158.1 million, growing from US$ 4,467.4 million in 2023.
Growing acceptance of marine-based nutritional supplements has increased the demand for algae-based animal feed additives globally. Ulva, porphyra, spirulina, gracilaria, chlorella, dunaliella, and tetraselmis are used for algae-based animal feed and additives, which are gaining popularity due to their higher nutrition content. The adoption of kelp cultivation in marine ecosystems by remote area farmers has also boosted the supply of algae for industries.
The use of dietary supplements for animals with mineral contents has also increased with rising animal health consciousness and a growing focus on their immune system. Moreover, microalgae organisms have been the subject of extensive study as a potential effective protection against the extraordinary health crisis that affects ruminants.
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Key Takeaways from the Algae-based Animal Feed Market Study Report
- The worldwide market for algae-based animal feed is expected to witness an absolute growth opportunity of roughly US$ 3,600 million over the next ten years.
- The United States is the leading consumer of algae-based animal feed, and in 2023, it could acquire a global market share of 19.8%.
- In Europe, the United Kingdom is the leading market for the production of seaweed feeds, and the regional market could advance at 5% CAGR through 2033.
- China is the global leader in seaweed production, and the algae-based animal feed industry here is anticipated to progress at 7.6% CAGR through 2033.
- India is anticipated to follow China closely in advancement in algae-based animal feed utilization by following a CAGR of 7.3% CAGR through 2033.
“Prominent market players are focussed on the development of product lines of algae-based animal feeds with more emphasis on it as a nutritional supplement. Moreover, the proliferation of e-commerce websites has increased the sales of algae-based pet food, ultimately opening new avenues and opportunities for business,” Says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.)
Competitive Landscape for the Algae-based Animal Feed Market Players
The overall market for algae meal for livestock is highly diversified, with some leading players having prominent positions due to extensive supply chains. As governments, particularly in Asian countries, are pushing towards a more sustainable feedstock market, the emergence of new players here could further fragment the market.
Key Companies Profiled in the Algae-based Animal Feed Industry
- Cargill Inc.
- Archer Daniels Midland Company
- DIC Corporation
- Koninklijke DSM NV.
- Roquette Freres
- Sun Chlorella
- Cellana LLC.
- Fuji Chemical Industries Co. Ltd.
- Algama Foods
- Corbin (Terra Via Holdings)
- HOWND
- Yunnan Green-A-Bio-engineering Co Ltd.
Recent Developments in the Algae-based Animal Feed Industry
Alltech Incorporate and Agolin Company of Switzerland partnered in May 2023 to create environmentally friendly feeding strategies to achieve productivity targets for cattle livestock. It is aimed at assisting farmers in the United States to meet their requirements for animal nutritional solutions and feed additives based on algae.
At BIOFACH in July 2022, Allmicroalgae Company presented its microalgae-based solutions for Spirulina and Chlorella together with other natural and nutraceutical food products. This development is expected to advance the chlorella animal nutrition segment with a prominent focus on the feedstock used for swine and poultry cultivation.
Fermentalg Inc. announced in the year 2021 about developing KALVEA Plus, which is a novel super-nutritious algal protein concentrate for aquafeed uses.
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Key Segments Covered by Algae-based Animal Feed Industry Survey Report
By Additive Type:
- Feed Preservatives
- Feed Emulsifiers
- Feed Acidifiers
- Feed Additives
- Feed Probiotics
- Feed Enzyme
- Feed Colorants
- Feed Flavors
- Feed Sweeteners
- Nutritional Additives
- Other Feed Additives
By Form:
- Liquid
- Dry
- Granules
By Livestock:
- Ruminants
- Poultry
- Swine
- Aquaculture
- Other Livestocks
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Have a Look at Related Reports of Food and Beverage Domain:
- The global animal feed market size is anticipated to cross a valuation of US$ 530.0 billion in 2023. It is estimated to reach a valuation of US$ 929.0 billion by 2033.
- The demand for microalgae in the animal feed sector totaled US$ 57.54 Mn in 2021, according to latest insights by Future Market Insights (FMI). Exhibiting a CAGR of 3.5% for 2021-31, the market is expected to reach US$ 80.96 Mn by 2031.
- The revenue from sales of animal feed probiotics is expected to reach US$ 6,784.3 million by 2033, growing at a CAGR of 7% during the forecast period.
- The algae products market size is estimated to be valued at US$ 5.41 Billion in 2023 and surpass US$ 9.15 Billion by 2033. The market is likely to witness a significant CAGR of 5.4% during the forecast period.
- The global algae-based food additive market is poised for substantial growth, with an estimated valuation of US$ 157.3 million in 2023. It is expected to reach a valuation of US$ 349.1 million by 2033.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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