Selbyville, Delaware, April 21, 2020 (GLOBE NEWSWIRE) -- According to a Global Market Insights Inc., report, yeast market for animal feed application was valued at $1.5 billion in 2019 and is projected to surpass $2 billion by 2026, registering a CAGR of 7% from 2020 to 2026. The report offers a thorough analysis of the market size & estimations, major investment pockets, opportunities & drivers, prominent winning strategies, flickering market trends, as well as the competitive scenario.
Increased production of aquatic and meat products coupled with technological innovations across the overall meat processing industry has been attributed for expanding the demand for high-quality meat. This trend is expected to significantly accelerate the growth of the overall feed additives market for maintaining the wellbeing of animals. Yeast helps cattle in maintaining a good level of gut health. These determinants will make a positive impact on the expansion of the yeast market for animal feed applications in the coming years.
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Yeast-based products help in stimulating infant and young animal species growth while also providing them considerable protection against diseases by stimulating their immune system. Increasing awareness of the maintenance of good animal health would further foster the yeast market share in the coming years.
Based on the application, the market landscape is bifurcated into swine, poultry, aquaculture, cattle, equine, and pet food. Among these, the growth statistics for the overall poultry feed segment was one of the highest. The sector is further projected to grow at a momentous rate due owing to rising eggs and chicken consumption globally.
Key reasons for yeast market growth for animal feed application:
- Increasing consumer inclination towards animal-derived products.
- Growing awareness around animal health issues.
- Rising product demand in Europe.
The yeast market for animal feed applications in Europe is anticipated to grow more than 6.0% over the forecast timeframe. The European Union has introduced stringent regulations and has effectively banned the use of antibiotics in animal feed as growth promoters, which is set to lead to an increase in yeast consumption, driving regional market growth in the process.
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Leading industry players that have been analyzed in the yeast industry report include Angel Yeast, Lessafre group, Trouw Nutrition, Archer Daniel Midland Company, Lallemand, Alltech Inc, Kemin Industries, Inc., Enzym Company, and Novus International.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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